Tuesday, April 30, 2024

SPX Opens Lower after Employment Cost Index, Closes Below the LOHD...All Sectors Mover Lower...GL Turns Down, ST Bearish...


© 2024


The SPX -80.48, 5,035, opened lower, after a higher-than-expected Employment Cost Index report at 1.2% vs 1.0% consensus, traded in a range for 90 minutes, then trended down and closed -1.57% lower. 

NVDA -13.55, -1.54%, 864.02, opened lower, traded in a range and closed lower, forming a potential shooting star candle pattern.

After-hoursSMCI -86.80, -10.11%, on a negative earnings reaction after an EPS beat and revenue miss.  AMD -10.95, -6.91%, on a negative earnings reaction after a slight EPS and revenue beat, in-line guidance and AMZN +2.16, +1.23%, on a positive earnings reaction to better-than-expected EPS and revenues.


FOMC Announcement: Wed 2:00 pm ET, Press Conference: 2:30 pm ET 


This Week 175 SPX eps reports: Thursday AMC – AAPL  

Wednesday Q1 day 14 BMO: ADP, CDW, COR, CTLT, CVS, DAY, DD, EL, GNRC, GPN, GRMN, IDXX, JCI, KHC, MA, MAR, NCLH, PFE, PPL, TECH, VRSK, WEC, YUM, AMC: AFL, AIG, ALB, ALL, ANSS, APA AWK, CHRW, CTSH, CTVA, DVN, EBAY, ES, ETSY, FSLR, HST, MAA, MET MGM, MOS MRO, PAYC, PTC, QCOM, QRVO, VICI, VTR

First day reaction: Q1
PositiveLDOS, LLY, TT, GLW, ZBRA, MMM, NXPI, ACGL, ECL, PYPL, DPZ, ON, RVTY, RMD, GOOGL, BALL, KLAC, TROW, MHK, LHX, WDC, LYB, CL, MSFT,  NEM, TYL, CARR, TER, CMG, URI, UNP, KDP, DOV, FTI, ROL, MRK, NOC, TSCO, LRCX, AAL, HES, GEV, MO, WM, TSLA, 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 = 89

Neutral:  PEG, MCD, CNP, KO, WELL, EG, AEP, APD, INCY, CVX, COF, AVB, TMUS, EMN, JNPR, DOX, F, RCL, SPGI, PCG, CMS, VLO, DTE, UHS, XEL, HON, DOW, STX, AVY, TMO, V, ETR, ARE BRO, NVR, RTX, LMT, HAL, PNR, HBAN, PG, RF, CSX, DHI, KEY, PGR, WFC = 47

NegativeGEHC, TAP, MPC, FFIV, HUBB, IT, SBAC, PARA, PCAR, SYY, ADM, MLM, ETN, ITW, AMT, BEN, DXCM, INTC, FICO, AON, CINF, ABBV, VRSN, HIG, PSX, XOM, ROP, PFG, HCA, CNC, EW, RHI, CHTR, WY, AJG, FE, META, BMY, IBM, CAT, LUV, CMCSA, AOS, LH, WST, RJF, MOH, NOW, ORLY, WTW, IP, NDAQ, POOL, ALLE, GWW, ALGN, ODFL, 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 = 110


Mega caps META, NVDA, AAPL, GOOGL, MSFT, AMZN, TSLA fell on Tuesday.


SPY down 8.08 at 501.98 on 77.0 million shares, above average volume
VIX up .98 at 15.65
QQQ down 8.16 at 424.59

MMM, PG, MCD, TRV led the DJIA, 2 advancers, -18
LDOS, LLY, TT, GLW, ZBRA led the SPX, 57 advancers 
NXPI, MELI, PYPL, DXCM led the NDX, 9 advancers

Up
DownDIA, SPY, QQQ, IWM,

All eleven sectors were lower on Tuesday, led by the largest decliners XLK, XLY and XLE.

The SPY MFC green line turned down at 39 and is short-term bearish.

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 sideways.

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


9 of 100 NDX stocks closed higher on Tuesday.

28 NDX stocks are above their 30 DMA:  AZN, GOOGL, KHC, KDP, XEL, PEP, AEP, EXC, TMUS, CEG, MDLZ, PANW, PDD, DDOG, MDB, MRNA, ADI, CCEP, MCHP, TXN, NXPI, TSLA, BIIB, COST, KLAC, PYPL, AMGN, ON,

NDX Stocks to Watch on Wednesday:
Moving Above 30 DMA = 0



Moving Below 30 DMA = 15
AAPL, ABNB, AMAT, AMZN, AVGO, BKR, CSGP, CTAS, FANG, GEHC, INTU, MRVL, NVDA, QCOM, TTD,



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