SPX, NDX Clos Higher as NVDA, Mega Caps and Semiconductor Stocks Rally...Technology, Communication Services, Energy Lead Sectors...

© 2024

The SPX +21.43, 5,469, opened higher, traded in a range as Fed speakers Bowman and Cook shared their opinions and generated market fluctuation, and closed higher recovering all of Monday’s modes selloff.  The SPX closed above 5,400 for the nineth day. The NDX +1.16% closed higher due to strength in NVDA, Mega Cap and semiconductor stocks. 

NVDA +7.98, +6.76%, 126.09, bounced in a re-BO and bull flag price pattern.  BofA Securities added to Best of Breed list and reiterates price target of $150. 

AVGO -11.42, -0.72%, pulled back for a fifth day still forming a bull flag price pattern.  It has a 10 for 1 stock split on July 15. 

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

SPY up 2.09 at 544.83, 38.2 million shares, below average volume.

VIX down .49 at 12.84

QQQ up 5.42 at 479.38

CRM, MSFT, INTC, AAPL led the DJIA, 8 advancers, -14

CCL, NVDA, NCLH, RCL, HPE led the SPX, 112 advancers 

NVDA, ARM, MELI, ISRG led the NDX, 56 advancers

Up:  QQQ, SPY,

Down:  IWM, DIA,

Three of eleven sectors were higher on Tuesday, led by XLK, XLC and XLE.

The SPY MFC green line is pointed down at 87.1 and is counter-trend defensive.

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

Neutral sectors:  XLV, XLRE, XLY,

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: Down

56 of 100 NDX stocks closed higher on Tuesday.

66 NDX stocks are above their 30 DMA:  AZN, GOOGL, TSLA, COST, TTD, VRSK, AAPL, ADI, REGN, AMAT, BKNG, KLAC, NVDA, FANG, NFLX, SNPS, VRTX, ISRG, CHTR, MU, TMUS, EA, CDW, ROST, HON, CMCSA, META, ROP, SBUX, MSFT, AVGO, CRWD, LIN, LRCX, ZS, ILMN, CTAS, PANW, LIN, ORLY, ADSK, MAR, TSLA, ADBE, ABNB, CDW, CPRT, KDP, PAYX, AMGN, AMZN, BKR, CTSH, GILD, INTU, ADP, CCEP, CSCO, DDOG, TTWO, FANG, ILMN, ARM, CEG, GEHC, GFS, TEAM,

NDX Stocks to Watch on Wednesday:

Moving Above 30 DMA = 4

CEG, GEHC, GFS, TEAM,

Moving Below 30 DMA = 2

CDW, ODFL,

Add Comments here:

SPX, NDX Close Lower on Weakness in NVDA, AVGO & Semiconductor Stocks...Energy, Utilities, Consumer Staples Lead Sectors...Changes to SPX, NDX Take Effect...

© 2024

The SPX -16.75, 5,447, opened flat, traded in a range, formed an inverted hammer candle and closed lower.  The SPX closed above 5,400 for the eighth day. The NDX -1.15% closed lower due to weakness in NVDA, AVGO and semiconductor stocks. 

NVDA -8.46, -6.68%, 118.11, pulled back in a BO test and formed a larger red candle.  Jefferies raises price target to $150 from $135. 

AVGO -66.42, -4.00%, pulled back for a fourth day still forming a bull flag price pattern.  It has a 10 for 1 stock split on July 15. 

CRWD, GDDY, KKR replaced CMA, ILMN, RHI in the S&P 500 before the open.

ARM replaced SIRI in the Nasdaq 100 before the open.

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

SPY down 1.77 at 542.74, 45.5 million shares, average volume.

VIX up .13 at 13.33

QQQ down 6.22 at 473.96

AMGN, GS, CVX, VZ led the DJIA, 22 advancers, +5

MOS, BKR, APA, EQT led the SPX, 352 advancers 

BKR, FANG, AMGN, MDLZ led the NDX, 46 advancers

Up:  DIA, IWM,

Down:  SPY, QQQ,

Nine of eleven sectors were higher on Monday, led by XLE, XLU and XLP.

The SPY MFC green line is pointed down at 89.8 and is counter-trend defensive.

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

Neutral sectors:  XLV, XLRE, XLY,

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: Down

46 of 100 NDX stocks closed higher on Monday.

64 NDX stocks are above their 30 DMA:  AZN, GOOGL, TSLA, COST, TTD, VRSK, AAPL, ADI, REGN, AMAT, BKNG, KLAC, NVDA, FANG, NFLX, SNPS, VRTX, ISRG, CHTR, MU, TMUS, EA, CDW, ROST, HON, CMCSA, META, ROP, SBUX, MSFT, AVGO, CRWD, LIN, LRCX, ZS, ILMN, CTAS, PANW, LIN, ORLY, ADSK, MAR, TSLA, ADBE, ABNB, CDW, CPRT, KDP, PAYX, AMGN, AMZN, BKR, CTSH, GILD, INTU, ADP, CCEP, CSCO, DDOG, TTWO, FANG, ILMN, ODFL, ARM new addition to NDX, Delete SIRI from NDX

NDX Stocks to Watch on Tuesday:

Moving Above 30 DMA = 3

FANG, ILMN, ODFL,

Moving Below 30 DMA = 10

ANSS, CEG, CSX, DASH, GEHC, GFS, INTC, MRVL, QCOM, TXN,

Add Comments here:

SPX Closed Lower forming a Bull Flag Price Pattern...Consumer Discretionary, Communications Services, Health Care Lead Sectors...Changes in SPX, NDX Monday BMO...

© 2024

The SPX -8.55, 5,464, opened slightly lower, traded in a range, formed a spinning top candle and closed lower.  The SPX closed above 5,400 for the seventh day. The SPY and NDX -0.26% closed slightly lower. 

NVDA -4.21, -3.22%, 126.57, pulled back in a BO test and formed a spinning top candle.  Melius Research raises price target to $160 from $125. 

AVGO -75.93, -4.38%, pulled back for a third day still forming a bull flag price pattern.  It has a 10 for 1 stock split on July 15. 

CRWD, GDDY, KKR will replace CMA, ILMN, RHI in the S&P500 before the open on June 24.

ARM will replace SIRI in the Nasdaq 100 before the open on June 24.

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

SPY down 0.73 at 547.00, ex-div 1.759, on 64.5 million shares, above average volume.

VIX down .08 at 13.20

QQQ down 1.29 at 480.18

MCD, NKE, AMZN, INTC led the DJIA, 17 advancers, -6

FDS, FMC, ETSY, CTLT led the SPX, 297 advancers 

DASH, MDB, GILD, TEAM led the NDX, 67 advancers

Up:  IWM, DIA,

Down:  SPY, QQQ,

Six of eleven sectors were higher on Friday, led by XLY, XLC and XLV.

The SPY MFC green line turned down at 93.6 and is counter-trend defensive.

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

Neutral sectors:  XLV, XLRE, XLY,

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: Down a little

67 of 100 NDX stocks closed higher on Friday.

71 NDX stocks are above their 30 DMA:  AZN, GOOGL, TSLA, COST, TTD, VRSK, AAPL, ADI, QCOM, REGN, AMAT, BKNG, KLAC, NVDA, FANG, NFLX, SNPS, VRTX, ISRG, CHTR, MU, TMUS, EA, CDW, ROST, HON, CMCSA, META, ROP, SBUX, MSFT, AVGO, CRWD, LIN, LRCX, ZS, ILMN, CTAS, PANW, LIN, ORLY, ADSK, MAR, MRVL, TSLA, ADBE, ABNB, CDW, CPRT, KDP, PAYX, CEG, AMGN, AMZN, ANSS, BKR, CTSH, GEHC, GFS, GILD, INTU, SIRI, ADP, CCEP, CSCO, CSX, DASH, DDOG, INTC, TTWO, TXN,

NDX Stocks to Watch on Monday:

Moving Above 30 DMA = 9

ADP, CCEP, CSCO, CSX, DASH, DDOG, INTC, TTWO, TXN,

Moving Below 30 DMA = 1

AMD,  

Add Comments here: 

SPX Opens Higher Closes Lower, Forms Bearish Engulfing Candle...Energy, Utilities, Financial Lead Sectors...NVDA Pulls Back, XLK Rebalance Friday...

© 2024

The SPX -13.86, 5,473, opened higher at a new intraday all-time high, formied a bearish engulfing pattern closed lower.  The SPX closed above 5,400 for a sixth day. The SPY and NDX -0.76% made new all-time intraday highs before closing lower. Breadth weakened slightly on Thursday. 

Fed members Kashkari, Barkin, and Daly spoke on Thursday.

NVDA -4.80, -3.54%, 130.78, made a new all-time intra-day high before reversing, forming a bearish engulfing candle and closing lower.  SPDR indicated that effective June 21 NVDA weighting in XLK will rise to about 21% from about 6%.  Tigress Financial raises price target to $170 from $98.50.  NVDA slips to second behind MSFT for largest market cap.

AVGO -67.96, -3.77%, pulled back for a second day forming a bull flag price pattern.  It has a 10 for 1 stock split on July 15. 

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

SPY down 1.49 at 547.00 on 70.3 million shares, above average volume.

VIX up .80 at 13.28

QQQ down 3.74 at 481.47

CRM, CVX, IBM, AMZN led the DJIA, 23 advancers, +3

GILD, CAN, EPAM, WRK, PARA led the SPX, 289 advancers 

GILD, SIRI, AMD, CTSH led the NDX, 51 advancers

Up:  DIA,

Down:  SPY, IWM, QQQ,

Eight of eleven sectors were higher on Thursday, led by XLE, XLU and XLF.

The SPY MFC green line is flat at 96.0 and is short-term bullish.

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

Neutral sectors:  XLV, XLRE, XLY,

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

51 of 100 NDX stocks closed higher on Thursday.

63 NDX stocks are above their 30 DMA:  AZN, GOOGL, TSLA, COST, TTD, VRSK, AAPL, ADI, QCOM, REGN, AMAT, BKNG, KLAC, NVDA, FANG, NFLX, SNPS, VRTX, ISRG, CHTR, MU, TMUS, EA, CDW, ROST, HON, CMCSA, META, ROP, SBUX, MSFT, AVGO, CRWD, LIN, LRCX, ZS, ILMN, CTAS, PANW, LIN, ORLY, ADSK, MAR, MRVL, TSLA, ADBE, ABNB, CDW, CPRT, KDP, PAYX, CEG, AMD, AMGN, AMZN, ANSS, BKR, CTSH, GEHC, GFS, GILD, INTU, SIRI,

NDX Stocks to Watch on Friday:

Moving Above 30 DMA = 11

AMD, AMGN, AMZN, ANSS, BKR, CTSH, GEHC, GFS, GILD, INTU, SIRI,

Moving Below 30 DMA = 4

NXPI, PCAR, TTWO, TXN,

Add Comments here:

SPX, NDX, SPY, QQQ New All-time Closing High...Financial, Industrials, Energy Lead Sectors...Markets Closed Wednesday....

© 2024

Markets will be closed on Wednesday, June 19, for Juneteenth National Independence Day, making this week a four-day trading week

The SPX +13.8, 5,487, a new all-time closing high. The SPY, QQQ and NDX +0.03% made new all-time closing highs. Breadth was mixed on Tuesday. 

Fed members Barkin, Collins, Musalem, Logan and Goolsbee spoke on Tuesday.

NVDA +4.60, +3.51%, 135.58, made a new all-time high on Tuesday.  SPDR indicated that effective June 21 NVDA weighting in XLK will rise to about 21% from about 6%.  Rosenblatt raises price target to $200 from $140.  Wells Fargo raises price target to $155 from $125.  NVDA surpasses MSFT as largest cap stock as MSFT stock pulls back.

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

SPY up 1.39 at 548.49 on 41.3 million shares, below average volume.

VIX down .45 at 12.30

QQQ up .15 at 485.21

GS, VZ, HD, JPM led the DJIA, 20 advancers, -4

GEV, WBA, TER, VST, URI led the SPX, 308 advancers 

WBA, SIRI, CEG, MU led the NDX, 50 advancers

Up:  SPY, IWM, DIA, QQQ,

Down: 

Eight of eleven sectors were higher on Tuesday, led by XLF, XLI and XLE.

The SPY MFC green line is flat at 96.6 and is short-term bullish.

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

Neutral sectors:  XLV, XLRE, XLY,

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

50 of 100 NDX stocks closed higher on Tuesday.

56 NDX stocks are above their 30 DMA:  AZN, GOOGL, TXN, TSLA, COST, TTD, VRSK, AAPL, ADI, QCOM, REGN, AMAT, BKNG, KLAC, NVDA, FANG, NFLX, SNPS, VRTX, ISRG, CHTR, MU, TMUS, TTWO, EA, CDW, ROST, HON, CMCSA, META, ROP, SBUX, MSFT, AVGO, CRWD, LIN, LRCX, ZS, ILMN, CTAS, PANW, LIN, ORLY, ADSK, MAR, MRVL, TSLA, ADBE, ABNB, CDW, CPRT, KDP, NXPI, PAYX, PCAR, CEG,

NDX Stocks to Watch on Thursday:

Moving Above 30 DMA = 1

CEG,

Moving Below 30 DMA = 6

ANSS, BIIB, CCEP, FTNT, INTC, PDD,

Add Comments here: 

SPX, SPY, NDX, QQQ Make New All=time Closing Highs...Technology, Communication Services Lead Sectors...AVGO Makes a New Closing High...

© 2024

The SPX +41.63, 5,473, opened slightly lower after political developments in France continued to dampen pre-market futures.  It traded in a range for 90 minutes before turning up to close at a new all-time closing high.  The SPX closed above 5,400 for a fourth day. The SPY, QQQ and NDX +1.24% made new all-time closing highs. Breadth strengthened on Monday. 

Fed members Williams, Harker, Kugler and Cook spoke on Monday.

NVDA -0.90, -0.68%, 130.98, uptrend paused on Monday.  SPDR indicated that effective June 21 NVDA weighting in XLK will rise to about 21% from about 6%.

AVGO +93.83, +5.41%, made a new all-time closing high continuing it post EPS beat uptrend.  It has a 10 for 1 stock split on July 15.

TSLA +9.43, +5.30%, 187.44, bounced off its 30 DMA.

Markets will be closed on Wednesday, June 19, for Juneteenth National Independence Day, making next week a four-day trading week.

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

SPY up 4.32 at 547.10 on 55.8 million shares, above average volume.

VIX up .09 at 12.75

QQQ up 5.87 at 485.06

AAPL, INTC, NKE, HON led the DJIA, 24 advancers, +11

ADSK, AVGO, TSLA, SMCI led the SPX, 357 advancers 

ADSK, AVGO, TSLA, MU led the NDX, 75 advancers

Up:  QQQ, IWM, SPY, DIA,

Down:  

Eight of eleven sectors were higher on Monday, led by XLK, XLC and XLP.

The SPY MFC green line is flat at 96.6 and is short-term bullish.

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

Neutral sectors:  XLV, XLRE, XLY,

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 Monday.

61 NDX stocks are above their 30 DMA:  AZN, GOOGL, PDD, TXN, TSLA, COST, TTD, VRSK, AAPL, ADI, QCOM, REGN, AMAT, BKNG, KLAC, NVDA, FANG, NFLX, SNPS, VRTX, ISRG, CHTR, MU, TMUS, TTWO, EA, CDW, ROST, BIIB, HON, CCEP, CMCSA, META, ROP, SBUX, MSFT, AVGO, CRWD, LIN, LRCX, ZS, ILMN, CTAS, PANW, LIN, ORLY, ADSK, FTNT, MAR, MRVL, TSLA, ADBE, ABNB, ANSS, CDW, CPRT, INTC, KDP, NXPI, PAYX, PCAR,

NDX Stocks to Watch on Tuesday:

Moving Above 30 DMA = 9

ABNB, ANSS, CDW, CPRT, INTC, KDP, NXPI, PAYX, PCAR,

Moving Below 30 DMA = 2

CEG, DDOG,

Add Comments here: