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The SPX +42.03, 5,277, gapped up after the PCE inflation report was inline
with consensus estimate at Y/Y Core at 2.8%, reversed and sold off 64
points after a 9:45 am Chicago PMI report came in weaker-than-expected.
The SPX bottomed out at midday and rallied
86 points to close higher. The NDX formed a long-tailed
hammer and closed -0.01%.
NVDA -8.67, -0.78%, 1,096.33,
opened higher, reversed, sold off with the broad market and rallied during an afternoon
rally into the close. 10 for 1 split to take effect on June 7.
This week’s SPX earnings A,
CRM, HPQ,
BBY, HRL,
DG. ULTA,
COO, COST,
NTAP.
Five up, five down.
Next week’s SPX earnings include: BBWI, HPE CPB, DLTR,
BF/B, LULU, SJM
Mega caps AAPL, GOOGL, MSFT rose
and META, TSLA, NVDA, AMZN fell on Friday.
SPY up 4.76 at 527.37 on 90.7 million shares, above average volume.
VIX down 1.55 at 12.92
QQQ down .84 at 450.71
CRM, UNH, BA, MCD led the DJIA, 28 advancers, +6
CZR, DG, CVS, ELV led the SPX, 425 advancers
ZS, WBA, CHTR, ILMN led the NDX, 65 advancers
Up: DIA, SPY, IWM,
Down: QQQ,
All eleven sectors were higher on Friday, led by XLE, XLRE and
XLU.
The SPY
MFC green line turned up at 84.6 and is short-term bullish.
Uptrend sectors: XLU, XLP,
XLC, XLK, XLI, XLF, XLB, XLE,
Neutral sectors: XLY, XLV, XLRE,
Down trend sectors:
The 6-month intermediate
trend is up. The ten-day trend is down a little.
3-month Intermediate Term Market
Trend: Up
3-day Short Term Market Trend: Down a little
65 of 100 NDX stocks
closed higher on Friday.
55 NDX stocks are above their 30
DMA: AZN,
GOOGL, KDP, PDD, MRNA, MCHP, TXN, NXPI, TSLA, COST, AMGN, TTD, VRSK, AAPL, ADI,
MELI, ON, QCOM, REGN, AMAT, BKNG, CEG, KLAC, NVDA, FANG, NFLX, SNPS, VRTX, ISRG,
MSFT, CHTR, MU, TSLA, AMD, BKR, TMUS, TTWO, EA, LRCX, CDW, ROST, BIIB, HON,
WBD, AEP, BKR, CCEP, CMCSA, LIN, META, ROP, SBUX, XEL,
NDX Stocks to Watch on Monday:
Moving Above 30 DMA = 9
AEP, BKR, CCEP, CMCSA, LIN, META, ROP,
SBUX, XEL,
Moving Below 30 DMA = 2
AVGO, MRVL,
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