SPX, NDX Inch to New All-time Closing Highs...Technology, Basic Materials, Real Estate Lead Sectors...Semiconductor Stocks Lead Technology...

 

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The SPX +5.66, 5,572, opened flat, traded in a narrow range and closed above 5,500 for the fourth day at an all-time new closing high.  The NDX +0.23% also closed at a new all-time closing high.  Semiconductor stocks INTC, AMD, MRVL, AVGO, ON, ARM and NVDA were among today’s leaders. 

Powell gives his semi-annual testimony before the Senate Banking committee on Tuesday and the House Financial Services committee on Wednesday.

CPI report Thursday July 11, BMO.

NVDA +2.37, +1.88%, 128.20, opened flat, traded in a range and closed higher.  UBS raised its price target to $150 from $120 and maintained their Buy rating.

AVGO +42.55, +2.50%, in a bull flag bounce continuation move.  10 for 1 split takes effect Monday, July 15.  

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

SPY up .64 at 555.28, 36.0 million shares, below average volume

VIX down .11 at 12.37

QQQ up 1.18 at 497.34

INTC, HD, TRV, DOW led the DJIA, 15 advancers, -4

GLW, SMCI, INTC, ENPH, RL led the SPX, 279 advancers 

INTC, AMD, MRVL, AVGO, ON led the NDX, 41 advancers

Up:  IWM, QQQ, SPY,

Down:  DIA,

Six of eleven sectors were higher on Monday, led by XLK, XLB and XLRE.

The SPY MFC green line is pointed up at 95.1 and is short-term bullish.

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

Neutral sectors:  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

41 of 100 NDX stocks closed higher on Monday.

67 NDX stocks are above their 30 DMA:  GOOGL, TSLA, COST, TTD, VRSK, AAPL, REGN, AMAT, BKNG, KLAC, NVDA, FANG, NFLX, SNPS, VRTX, ISRG, CHTR, TMUS, EA, ROST, HON, META, ROP, MSFT, AVGO, CRWD, LRCX, ZS, CTAS, PANW, ORLY, ADSK, MAR, TSLA, ADBE, ABNB, AMGN, AMZN, BKR, CTSH, GILD, INTU, DDOG, FANG, ARM, TEAM, FTNT, CSX, INTC, ODFL, WDAY, AMD, ANSS, CPRT, GFS, ON, TXN, MDB, MRVL, NXPI, ILMN, LIN, MELI,

NDX Stocks to Watch on Tuesday:

Moving Above 30 DMA = 4

ADI, BIIB, CEG, QCOM,  

Moving Below 30 DMA = 2

CCEP, CSCO,

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