SPX, NDX Close Higher at new All-time Closing Highs...Utilities, Financials, Consumer Discretionary Led Sectors...Fed Minutes Wed 2 pm ET...NVDA EPS Wed AMC...

© 2024

The SPX +13.28, 5,321, opened higher, traded in a range, formed a white candle and closed at a new all-time high.  The NDX opened lower and continued to bounce in its bull flag pattern, formed a white candle and also closed at a new all-time high. 

NVDA +6.06, +0.64%, 953.86, opened lower and closed higher.  EPS are tomorrow, Wednesday, May 22, AMC.  While estimates vary based on the data source, Zacks data, based on 12 analysts’ consensus is $5.14 a share.

FOMC minutes from the May 1 Fed meeting will be released Wednesday at 2 pm ET. 

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

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

SPY up 1.30 at 531.36 on 33.3 million shares, below average volume, the lightest trading volume of 2024.

VIX down .29 at 11.86

QQQ up .89 at 455.80

IBM, JPM, GS, WMT led the DJIA, 14 advancers, +4

FSLR, TSLA, DG, JCI, VST led the SPX, 247 advancers 

TSLA, CEG, AZN, LRCX led the NDX, 46 advancers

Up:  SPY, QQQ, DIA,

Down:  IWM,

Six of eleven sectors were higher on Tuesday, led by XLU, XLF and XLY.  

The SPY MFC green line is pointed up at 96.3 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 a little

46 of 100 NDX stocks closed higher on Tuesday.

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, GILD, MDB, TSLA, ADBE, AMD, BKR, CTSH, MRVL, ROP, TMUS, TTWO, ZS, WDAY, ADSK, CPRT, EA, LRCX, CMCSA,

NDX Stocks to Watch on Wednesday:

Moving Above 30 DMA = 1

CMCSA,  

Moving Below 30 DMA = 2

ANSS, PYPL,

Add Comments here: