Friday, March 22, 2024

SPX Pauses Slightly after All-time High on Thursday...Industrials, Financials, Energy Lead Sectors...FDX, NVDA Lead SPX...


© 2024


The SPX -7.35, 5234.18, as the post-FOMC rally pauses before the Good Friday shortened 4 -day trading week.  

FDX +19.47, +7.35% on a positive EPS reaction.  LULU -75,65 -15.80% on a negative EPS reaction

NVDA +28.54, +3.12%, 942.89, opened slightly lower, rallied from the open and closed higher.  UBS raised its price target to $1,100 from $800 as twenty firms now have price targets at $1,000 to $1,400.


Mega caps NVDA, GOOGL, AAPL, AMZN, META rose and MSFT, TSLA fell on Friday.


SPY down .99 at 521.21, on 79.0 million shares, above average volume, closed lower on higher volume 
VIX up .14 at 13.06
QQQ up .51 at 446.38

BA, AAPL, AMZN, INTC led the DJIA, 6 advancers, -12
FDX, NVDA, AES, CLX, BDX led the SPX, 122 advancers 
NVDA, CEG, GOOGL, MRNA led the NDX, 31 advancers

Up:  QQQ,
DownSPY, DIA, IWM,

Three of eleven sectors were up on Friday, led by XLI, XLF and XLE

The SPY MFC green line is pointed up at 91.5 and is short-term bullish.

Uptrend sectors:  XLF, XLI, XLE, XLB, XLP, XLC, XLK, XLY, XLV,
Neutral sectors:  XLRE, XLU,
Down trend sectors: 

The 6-month intermediate trend is up.  The ten-day trend is Up.

3-month Intermediate Term Market Trend: Up
3-day Short Term Market TrendUp


31 of 100 NDX stocks closed higher on Friday.

61 NDX stocks are above their 30 DMA:  CTAS, META, SPLK, NVDA, AMZN, DASH, NFLX, ORLY, AMAT, CDW, FAST, KLAC, PCAR, ABNB, CEG, GEHC, QCOM, FANG, AEP, CCEP, EXC, CPRT, MU, CSGP, MNST, BKR, TXN, AZN, DXCM, MCHP, MRNA, CMCSA, PYPL, MSFT, GOOGL, ISRG, ANSS, CRWD, LRCX, MAR, PEP, ASML, CDNS, HON, KHC, REGN, ROP, SNPS, TTD, ADI, ADP, ADSK, CSCO, NXPI, ODFL, AVGO, BKNG, ILMN, TTWO, MDLZ,

NDX Stocks to Watch on Monday:
Moving Above 30 DMA = 1
MDLZ, 


Moving Below 30 DMA = 7
CHTR, COST, CSX, GILD, LULU, PAYX, ROST,



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