Monday, May 20, 2024

SPX Inches to an All-time Closing High as Technology, Communication Services, Industrials Lead Sectors...NDX All-time Closing High...


© 2024


The SPX +4.86, 5,308, opened higher, traded in a range, closed slightly higher at a new all-time high and formed a potential shooting star candle.  The NDX, bounced in a bull flag pattern, formed a white candle and closed at a new all-time high. 

NVDA +23.01, +2.49%, 947.80, opened higher and closed higher.

This week’s SPX earnings include PANW, NDSN, LOW, AZO, TGT, ADI, TJX, SNPS, NVDA, MDT, RL, DECK, INTU, ROST


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


SPY up .61 at 530.06 on 37.7 million shares, below average volume
VIX up .16 at 12.15
QQQ up 3.15 at 454.91

CAT, MSFT, BA, INTC led the DJIA, 10 advancers, -10
VLO, FCX, CB, TSCO led the SPX, 210 advancers 
SBUX, CRWD, PDD, NFLX led the NDX, 66 advancers

Up:  QQQ, IWM, SPY,
DownDIA

Four of eleven sectors were higher on Monday, led by XLK, XLC and XLI.

The SPY MFC green line is pointed up at 95.0 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 TrendSideways


66 of 100 NDX stocks closed higher on Monday.

72 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, GILD, MDB, TSLA, ADBE, AMD, BKR, CTSH, MRVL, ROP, TMUS, TTWO, ZS, WDAY, ASML, CDNS, ADSK, ANSS, CPRT, EA, LRCX, PYPL,

NDX Stocks to Watch on Tuesday:
Moving Above 30 DMA = 6
ADSK, ANSS, CPRT, EA, LRCX, PYPL,


Moving Below 30 DMA = 2
CSCO, WBA,



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