Wednesday, April 24, 2024

SPX in Trading Range after Two-day Bounce as Earnings Season Continues...TSLA Leads SPX, NDX...Consumer Discretionary, Staples, Utilities Lead Sectors...After-hours: META -15% on EPS Reaction...


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The SPX +1.08, 5,071.63, opened higher, pulled back, traded in a range, closed just slightly positive for the day.  

TSLA +9.37, +14.11%, 75.76, led the SPX and NDX on a positive earnings reaction after an EPS and revenue miss. 

NVDA -27.46, -3.33%, 796.77, opened higher, reversed after ten minutes, trended down and closed lower, below the high of the bullish harami candle.


After-hours: META -75.65, -15.13%, 418.85, a negative reaction after an EPS and revenue beat.

PCE Report 8:30 am ET Friday, April 26.


Thursday Q1 day 10 BMO: AAL, ALLE, AOS, BMY CARR, CAT, CMCSA, CMS, DOV, DOW, DTE, FTI, GEV, GWW, HES, HON, IP, KDP, LH, LUV, MO, MRK, NDAQ, NEM, NOC, PCG, POOL, RCL, SPGI, TSCO, TXN UNP, VLO, WST, WTW, XEL, AMC: AJG, AVB, CINF, COF, DOX, DXCM, EMN, EW, FE, FICO, GOOGL, HIG, INTC, JNPR, KLAC, LHX, MHK, MSFT, PFG, RHI, RMD, TMUS, VRSN, WDC, WY,

This week: GOOGL, MSFT on Thursday after market close.


First day reaction: Q1
PositiveTSLA, HAS, WAB, CSGP, BSX, TXN, SYF, BIIB, HLT, EQT, EQR, T, APH, IPG, GL, GE, DHR, KMB, DGX, PHM, FI, GM, PM, UPS, NEE, TFC, AXP, FITB, GPC, DFS, ELV, KMI, MMC, CMA, CCI, UAL, CFG, OMC, UNH, MS, MTB, GS, SCHW, STT, STZ = 45
Neutral:  STX, AVY, TMO, V, ETR, ARE BRO, NVR, RTX, LMT, HAL, PNR, HBAN, PG, RF, CSX, DHI, KEY, PGR, WFC = 20
NegativeODFL, TDY, FTV, ENPH, MAS, OTIS, GD, HUM, NSC, BG, IEX, STLD, BA, CB, TEL, CME, VLTO, BKR, LKQ, MSCI, NUE, IVZ, WRB, PKG, AMP, PEP, SHW, FCX, CDNS, VZ, NFLX, PPG, SLB, ISRG, LVS, EFX, SNA, BX, JBHT, TRV, PLD, ASML, USB, ABT, NTRS, BAC, JNJ, PNC, BK, JPM, BLK, C, KMX, FAST, DAL = 54


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


SPY down .24 at 505.41 on 55.9 million shares, below average volume,
VIX up .28 at 15.97
QQQ up 1.44 at 426.51

KO, WMT, AAPL, IBM led the DJIA, 18 advancers, -5
TSLA, HAS, WAB, BSX, MCHP led the SPX, 276 advancers 
TSLA, CSGP, ON, TXN led the NDX, 60 advancers

Up:   QQQ,
DownSPY, DIA, IWM,

Eight of eleven sectors were higher on Wednesday, led by XLY, XLP and XLU

The SPY MFC green line is pointed up at 20.5 and is short-term bullish.


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

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

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


60 of 100 NDX stocks closed higher on Wednesday.

33 NDX stocks are above their 30 DMA:  CTAS, FANG, AZN, GOOGL, KHC, KDP, XEL, PEP, AEP, EXC, TMUS, ADP, CEG, MDLZ, PANW, PDD, AMGN, DDOG, MDB, MRNA, TEAM, ABNB, ADI, CCEP, COST, CSGP, DXCM, INTU, MCHP, PAYX, PYPL, TTD, TXN,

NDX Stocks to Watch on Thursday:
Moving Above 30 DMA = 12
ABNB, ADI, CCEP, COST, CSGP, DXCM, INTU, MCHP, PAYX, PYPL, TTD, TXN,


Moving Below 30 DMA = 1
ODFL,



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