SPX Closes Higher for a Third Day...Communication Services, Financial, Technology Lead all Sectors Higher...MU Leads NDX...

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The SPX +57.20, 5,180, gapped higher, trended up and closes higher for a third consecutive day, above its 30 DMA and at its highest close since April 11.

NVDA +33.51, +4.73%, 921.40, opened higher, trended up and closed higher.

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

SPY up 5.28 at 516.57 on 47.2 million shares, below average volume

VIX unchanged at 13.49

QQQ up 4.77 at 440.25

DIS, IBM, MSFT, CAT led the DJIA, 20 advancers, -0

AMGN, GEV, ENPH, LYV, FSLR led the SPX, 381 advancers 

MU, NVDA, AMD, DASH led the NDX, 72 advancers

Up:  IWM, QQQ, SPY, DIA,

Down: 

All eleven sectors were higher on Monday, led by XLC, XLF and XLK.

The SPY MFC green line is pointed up at 42.8 and is short-term bullish.

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

Neutral sectors:  XLY, XLK, XLV,

Down trend sectors:  XLRE,

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

72 of 100 NDX stocks closed higher on Monday.

54 NDX stocks are above their 30 DMA:  AZN, GOOGL, KDP, XEL, PEP, AEP, EXC, TMUS, MDLZ, PANW, PDD, MDB, MRNA, CCEP, MCHP, TXN, NXPI, TSLA, BIIB, COST, PYPL, AMGN, TTD, VRSK, AAPL, ADI, AMZN, MELI, ON, QCOM, REGN, ADBE, AMAT, BKNG, CEG, CRWD, CTAS, EA, INTU, KLAC, NVDA, ABNB, AVGO, CHTR, CPRT, CSGP, DDOG, FANG, GFS, ISRG, MRVL, MSFT, MU, TTWO,

NDX Stocks to Watch on Tuesday:

Moving Above 30 DMA = 13

ABNB, AVGO, CHTR, CPRT, CSGP, DDOG, FANG, GFS, ISRG, MRVL, MSFT, MU, TTWO,

Moving Below 30 DMA = 0

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