© 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,
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