SPX, NDX, SPY, QQQ Make New High Before Closing Slightly Lower...Consumer Staples Lead Sectors...

© 2024

The SPX -11.05, 5,297, open flat rallied to a new all-time intraday high before reversing and closing lower.  The NDX, SPY, QQQ each made an all-time intraday high before closing slightly lower.  After the large post CPI report rally, we expected a potential modest pullback.

NVDA -2.71, -0.29%, 943.59, opened higher, traded in a range and closed slightly lower.

This week’s SPX earnings include HD, CSCO, WMT, DE, AMAT, TTWO, CPRT

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

SPY down 1.09 at 528.69 on 50.2 million shares, below average volume

VIX down 03 at 12.42

QQQ down .92 at 451.98

WMT, MMM, BA, INTC led the DJIA, 15 advancers, -2

WMT, CB, DG, EG, PODD led the SPX, 222 advancers 

MRVL, TTD, MRNA, WBA led the NDX, 49 advancers

Up: 

Down:  DIA, QQQ, SPY, IWM,

One of eleven sectors was higher on Thursday, led by XLP, XLF and XLC.

The SPY MFC green line is pointed up at 93.2 and is short-term bullish.

Uptrend sectors:  XLU, XLP, XLI, XLF, XLC, XLB, XLE, XLK,

Neutral sectors:  XLY, XLV, XLRE,

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 Trend: Up

49 of 100 NDX stocks closed higher on Thursday.

71 NDX stocks are above their 30 DMA:  AZN, GOOGL, KDP, XEL, PEP, AEP, EXC, MDLZ, PANW, PDD, MRNA, CCEP, MCHP, TXN, NXPI, TSLA, BIIB, COST, AMGN, TTD, VRSK, AAPL, ADI, AMZN, MELI, ON, QCOM, REGN, AMAT, BKNG, CEG, CRWD, CTAS, INTU, KLAC, NVDA, FANG, GFS, HON, NFLX, SNPS, VRTX, AVGO, ADP, BKR, IDXX, ISRG, MSFT, PAYX, CHTR, MU, CSCO, GILD, MDB, TSLA, ADBE, AMD, BKR, CTSH, LRCX, MRVL, ROP, TMUS, TTWO, ZS, CMCSA, EA, ROST, WBA, WBD, WDAY,

NDX Stocks to Watch on Friday:

Moving Above 30 DMA = 6

CMCSA, EA, ROST, WBA, WBD, WDAY,

Moving Below 30 DMA = 5

ANSS, ASML, CDNS, CPRT, META,

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SPX, NDX, SPY, QQQ Close at New All-time Closing High...SPX Closes above 5,300 for First time...Technology, Real Estate, Utilities Lead All Sectors Higher...

 

© 2024

The SPX +61.47, 5,308, closed at a new all-time closing high as did the NDX, SPY, QQQ and many other stocks.  The SPX closed above 5,300 for the first time ever.  Today the SPX moved higher after the CPI was inline with estimates.  Core CPI M/M 0.3% vs 0.3% est. and Y/Y 3.6% vs. 3.6% est. and down from 3.8% last month. 

NVDA +32.74, +3.58%, 946.30, opened higher, trended higher and closed higher.

This week’s SPX earnings include HD, CSCO, WMT, DE, AMAT, TTWO, CPRT

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

SPY up 6.48 at 529.78 on 59.5 million shares, below average volume

VIX down .97 at 12.45

QQQ up 6.97 at 452.90

CRM, AMGN, HD MRK led the DJIA, 17 advancers, +4

SMCI, DHI, MTX, VST led the SPX, 356 advancers 

IDXX, MDB, TTD, AMD led the NDX, 75 advancers

Up:  QQQ, IWM, SPY, DIA,

Down: 

All eleven sectors were higher on Wednesday, led by XLK, XLRE and XLU.

The SPY MFC green line is pointed up at 91.8 and is short-term bullish.

Uptrend sectors:  XLU, XLP, XLI, XLF, XLC, XLB, XLE, XLK,

Neutral sectors:  XLY, XLV, XLRE,

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 Trend: Up

75 of 100 NDX stocks closed higher on Wednesday.

70 NDX stocks are above their 30 DMA:  AZN, GOOGL, KDP, XEL, PEP, AEP, EXC, MDLZ, PANW, PDD, MRNA, CCEP, MCHP, TXN, NXPI, TSLA, BIIB, COST, AMGN, TTD, VRSK, AAPL, ADI, AMZN, MELI, ON, QCOM, REGN, AMAT, BKNG, CEG, CRWD, CTAS, INTU, KLAC, NVDA, FANG, GFS, HON, NFLX, SNPS, VRTX, AVGO, ADP, BKR, IDXX, ISRG, MSFT, PAYX, CHTR, MU, CSCO, GILD, MDB, TSLA, ADBE, AMD, ANSS, ASML, BKR, CDNS, CPRT, CTSH, LRCX, META, MRVL, ROP, TMUS, TTWO, ZS,

NDX Stocks to Watch on Thursday:

Moving Above 30 DMA = 15

ADBE, AMD, ANSS, ASML, BKR, CDNS, CPRT, CTSH, LRCX, META, MRVL, ROP, TMUS, TTWO, ZS,

Moving Below 30 DMA = 4

CMCSA, MNST, WBA, WBD,

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SPX Closes +25 Higher, 8 points below All-time Closing High on March 28...Technology, Real Estate, Financial Lead Sectors...As CPI Looms, Wednesday 8:30 am ET...

 

© 2024

The SPX +25.26, 5,246, opened higher, traded in a range, rose during the last two hours of trading and closed higher, just 8 points below its March 28 all-time closing high of 5,254.  Today’s SPX move which occurred after a higher-than-expected PPI inflation M/M headline 0.5% vs 0.3% and core 0.5% vs 0.2% expected that was offset by a revisions lower of March PPI report.

Powell’s participation on a moderated panel at the Foreign Bankers’ Association in Amsterdam seemed to improve market sentiment on Tuesday.

NVDA +9.57, +1.06%, 913.56, opened lower, trended higher and closed higher.

This week’s earnings include HD, CSCO, WMT, DE, AMAT, TTWO, CPRT

BMO Wednesday 8:30 am ET the CPI report estimates core M/M 0.3% and core Y/Y 3.6% will likely influence Wednesday's price action significantly, depending on if the report is inline, better than expected or worse than expected.

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

SPY up 2.39 at 523.30 on 57.5 million shares, below average volume

VIX down .18 at 13.42

QQQ up 2.85 at 445.93

INTC, JPM, BA, AXP led the DJIA, 17 advancers, +4

PODD, ENPH, SMCI, GL led the SPX, 313 advancers 

IDXX, GFS, TSLA, CRWD led the NDX, 58 advancers

Up:  IWM, QQQ, SPY, DIA,

Down: 

Ten of eleven sectors were higher on Tuesday, led by XLK, XLRE and XLF.

The SPY MFC green line is pointed up at 87.1 and is short-term bullish.

Uptrend sectors:  XLU, XLP, XLI, XLF, XLC, XLB, XLE,

Neutral sectors:  XLY, XLK, XLV, XLRE,

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 Trend: Up

58 of 100 NDX stocks closed higher on Tuesday.

59 NDX stocks are above their 30 DMA:  AZN, GOOGL, KDP, XEL, PEP, AEP, EXC, MDLZ, PANW, PDD, MRNA, CCEP, MCHP, TXN, NXPI, TSLA, BIIB, COST, AMGN, TTD, VRSK, AAPL, ADI, AMZN, MELI, ON, QCOM, REGN, AMAT, BKNG, CEG, CRWD, CTAS, INTU, KLAC, NVDA, FANG, GFS, HON, NFLX, SNPS, VRTX, AVGO, ADP, BKR, IDXX, ISRG, MNST, MSFT, PAYX, CHTR, MU, CMCSA, CSCO, GILD, MDB, TSLA, WBD, WBA,

NDX Stocks to Watch on Wednesday:

Moving Above 30 DMA = 0

Moving Below 30 DMA = 3

ADBE, MRVL, TMUS,

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SPX Closes Flat, 33 Points Below all-time High...Technology, Real Estate Lead Sectors...PPI Report Tuesday Before the Open...

© 2024

The SPX -1.26, 5,221, opened higher, traded in a range and closed slightly lower, 33 points below its March 28 all-time high.  Fed comments on Monday again appeared to correlate with intraday price fluctuations. 

NVDA +5.21, +0.58%, 903.99, opened higher, traded in a range and closed higher.

This week’s earnings include HD, CSCO, WMT, DE, AMAT, TTWO, CPRT

BMO Tuesday 8:30 am ET the PPI report estimates core M/M 0.2% and core Y/Y 2.3%.

The CPI report is scheduled for Wednesday 8:30 am ET.

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

SPY up .07 at 520.84 on 36.7 million shares, below average volume and lightest volume day 0f 2024

VIX up 1.05 at 13.60

QQQ up 1.02 at 443.08

INTC, NKE, AAPL, CSCO led the DJIA, 13 advancers, -5

INCY, KMX, EPAM, AAL led the SPX, 217 advancers 

MRNA, WBA, SIRI, PDD led the NDX, 58 advancers

Up:  QQQ, IWM, SPY,

Down:  DIA,

Two of eleven sectors were higher on Monday, led by XLK, XLRE and XLU.

The SPY MFC green line is pointed up at 82.7 and is short-term bullish.

Uptrend sectors:  XLU, XLP, XLI, XLF, XLC, XLB, XLE,

Neutral sectors:  XLY, XLK, XLV, XLRE,

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 Trend: Up

58 of 100 NDX stocks closed higher on Monday.

62 NDX stocks are above their 30 DMA:  AZN, GOOGL, KDP, XEL, PEP, AEP, EXC, MDLZ, PANW, PDD, MRNA, CCEP, MCHP, TXN, NXPI, TSLA, BIIB, COST, AMGN, TTD, VRSK, AAPL, ADI, AMZN, MELI, ON, QCOM, REGN, ADBE, AMAT, BKNG, CEG, CRWD, CTAS, INTU, KLAC, NVDA, FANG, GFS, HON, NFLX, SNPS, VRTX, AVGO, TMUS, ADP, BKR, IDXX, ISRG, MNST, MSFT, PAYX, CHTR, MU, CMCSA, CSCO, GILD, MDB, MRVL, TSLA, WBD, WBA,

NDX Stocks to Watch on Tuesday:

Moving Above 30 DMA = 8

CMCSA, CSCO, GILD, MDB, MRVL, TSLA, WBD, WBA,

Moving Below 30 DMA = 1

ASML,

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SPX Closes Higher, 32 points below All-time Closing High...Consumer Staples, Financial, Technology Lead Sectors...PPI, CPI Next Tuesday, Wednesday...

© 2024

The SPX +8.60, 5,222, opened higher, traded in a range and closed slightly higher, 32 points below its March 28 all-time high.  Fed comments on Friday again appeared to correlate with intraday price fluctuations.

Friday’s Earning reactions: 

MTD +219.83, +17.04%, GEN +3.12, +15.34%, and AKAM -11.27, -6.8711.00%, on EPS reactions Friday.

NVDA +11.31, +1.27%, 898.78, opened higher, traded in a range and closed higher.

Next week the PPI report on Tuesday 8:30 am ET and the CPI report on Wednesday 8:30 am ET.

SPX EPS Q1 First day reaction results:  Between Wed April 10 and Sat May 4, 2024, 410 SPX companies reported earnings.

135 up 1% or more = 32.9%

100 neutral, between .99% to -.99% = 24.4%

175 down, -1 or less = 42.7%

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

SPY up .67 at 520.84 on 52.2 million shares, below average volume

VIX down .14 at 12.55

QQQ up 1.04 at 442.06

MCD, MMM, VZ, AXP led the DJIA, 18 advancers, -7

MTC GEN, ANET, WAT led the SPX, 297 advancers 

CHTR, MU, DDOG, GILD led the NDX, 62 advancers

Up:  DIA, QQQ, SPY,

Down:  IWM,

Seven of eleven sectors were higher on Friday, led by XLP, XLF and XLK.

The SPY MFC green line is pointed up at 79.7 and is short-term bullish.

Uptrend sectors:  XLU, XLP, XLI, XLF, XLC, XLB, XLE,

Neutral sectors:  XLY, XLK, XLV, XLRE,

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 Trend: Up

62 of 100 NDX stocks closed higher on Friday.

55 NDX stocks are above their 30 DMA:  AZN, GOOGL, KDP, XEL, PEP, AEP, EXC, MDLZ, PANW, PDD, MRNA, CCEP, MCHP, TXN, NXPI, TSLA, BIIB, COST, AMGN, TTD, VRSK, AAPL, ADI, AMZN, MELI, ON, QCOM, REGN, ADBE, AMAT, BKNG, CEG, CRWD, CTAS, INTU, KLAC, NVDA, FANG, GFS, HON, NFLX, SNPS, VRTX, AVGO, TMUS, ADP, BKR, IDXX, ISRG, MNST, MSFT, PAYX, ASML, CHTR, MU,

NDX Stocks to Watch on Monday:

Moving Above 30 DMA = 3

ASML, CHTR, MU,

Moving Below 30 DMA = 1

CSGP,

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SPX Closes Higher, Nearing All-time Closing High...Real Estate, Utilities, Energy Lead Sectors...

© 2024

The SPX +26.41, 5,214, opened flat, traded higher and closed higher, 40 points below its March 28 all-time high.  Fed comments from Mary Daly participated in a moderated discussion at George Mason University today and made observations consistent with remarks by Fed Chair Powell in his May 1 FOMC press conference. 

Thursday’s Earning reactions: 

EPAM -67.27, -26.99%, CPAY -21.28, -6.99%, and ABNB -10.85, -6.87%, gapped down after earnings were released Thursday BMO or Wednesday AMC and were the three largest decliners in the SPX today.  RBLX -8.61, -22.06%, cratered after a revenue miss and downbeat guidance Thursday BMO.

NVDA -16.65, -1.84%, 887.47, opened slightly higher, traded down and closed lower.

SPX EPS Q1 First day reaction results:  Between Wed April 10 and Sat May 4, 2024, 410 SPX companies reported earnings.

135 up 1% or more = 32.9%

100 neutral, between .99% to -.99% = 24.4%

175 down, -1 or less = 42.7%

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

SPY up 2.98 at 520.17 on 43.5 million shares, below average volume day

VIX down .31 at 12.69

QQQ up .96 at 441.02

HD, CAT, GS, AMGN led the DJIA, 25 advancers, +4

EQIX, NRG, STE, UHS led the SPX, 415 advancers 

CEG, BKNG, TTD, WBD led the NDX, 69 advancers

Up:  IWM, DIA, SPY, QQQ,

Down: 

Ten of eleven sectors were higher on Thursday, led by XLRE, XLU and XLE.

The SPY MFC green line is pointed up at 73.5 and is short-term bullish.

Uptrend sectors:  XLU, XLP, XLI, XLF, XLC, XLB, XLE,

Neutral sectors:  XLY, XLK, XLV, XLRE,

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 Trend: Up

69 of 100 NDX stocks closed higher on Thursday.

53 NDX stocks are above their 30 DMA:  AZN, GOOGL, KDP, XEL, PEP, AEP, EXC, MDLZ, PANW, PDD, MRNA, CCEP, MCHP, TXN, NXPI, TSLA, BIIB, COST, AMGN, TTD, VRSK, AAPL, ADI, AMZN, MELI, ON, QCOM, REGN, ADBE, AMAT, BKNG, CEG, CRWD, CTAS, INTU, KLAC, NVDA, FANG, GFS, HON, NFLX, SNPS, VRTX, AVGO, TMUS, ADP, BKR, CSGP, IDXX, ISRG, MNST, MSFT, PAYX,

NDX Stocks to Watch on Friday:

Moving Above 30 DMA = 8

ADP, BKR, CSGP, IDXX, ISRG, MNST, MSFT, PAYX,

Moving Below 30 DMA = 2

CHTR, MU,

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