SPX, NDX Higher Open, Pullback, Rally to a Higher Close...Consumer Discretionary, Technology, Basic Materials Lead Sectors...

© 2024

Markets are closed on Monday for Labor Day.  Have a wonderful 3-day weekend.

The SPX 56.44, 5,648, opened higher, pulled back, reversed after noon and rallied to close higher, just 18 points below its all-time closing high on July 16, an HBO setup.  The VIX opened lower, trended down and closed lower.

The NDX +1.29%, opened higher, reversed after noon and closed lower.

NVDA +1.78, +1.51%, opened higher, traded in a range and closed higher.  Several analysts raised their price targets on NVDA after earnings.  On Friday, Phillip Securities raised their price target to $155 from $140.

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

SPY up 5.33 at 563.68, 62.7 million shares, above average volume, C-pattern BO continuation, HBO setup to all-time high

VIX down.65 at 15.00

QQQ up 5.61 at 476.27

INTC, AMZN, IBM, MMM led the DJIA, 26 advancers, -1

INTC, GEV, WDC, HPE led the SPX, 430 advancers

MDB, INTC, MRVL, TSLA, AVGO led the NDX, 82 advancers

Up:  QQQ, SPY, IWM, DIA,

Down: 

All eleven sectors were higher on Friday, led by XLY, XLK and XLB.

The SPY MFC green line is pointed up at 92.7 and is short-term bullish.

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

Neutral sectors:  XLY, XLE,

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

75 of 100 NDX stocks closed higher on Friday.

77 NDX stocks are above their 30 DMA:  EA, CTAS, GILD, AEP, CTSH, ILMN, ADP, PAYX, EXC, XEL, KHC, ORLY, MDLZ, KDP, PYPL, AZN, DASH, TMUS, MELI, ISRG, FTNT, REGN, GEHC, LIN, META, COST, PANW, TTD, SBUX, ADSK, ANSS, CCEP, NFLX, AVGO, KLAC, NVDA, AAPL, ADBE, CSCO, IDXX, MRVL, ROP, ROST, TXN, WDAY, ZS, CEG, TTWO, AMD, CPRT, BKNG, CDW, CSGP, LULU, ADI, CRWD, ON, TEAM, ASML, HON, MAR, AMGN, VRSK, VRTX, CSX, DDOG, MDB, AMZN, ARM, CDNS, CMCSA, FAST, MCHP, MSFT, NXPI, PCAR, QCOM,

NDX Stocks to Watch on Tuesday:

Moving Above 30 DMA = 10

AMZN, ARM, CDNS, CMCSA, FAST, MCHP, MSFT, NXPI, PCAR, QCOM,

Moving Below 30 DMA = 1

FANG,

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SPX, NDX Rally Up, Fade and Close Flat...Energy, Financials, Industrials Lead Sectors...After-hours: MRVL, LULU, ADSK, MDB, DELL Positive Earnings Reactions....

© 2024

The SPX -0.22, 5,592, opened higher, trended up, reversed after noon and closed lower.  The VIX opened lower, trended down and closed lower.

The NDX -0.13%, opened higher, reversed after noon and closed lower.

NVDA -8.02, -6.38%, opened $4 lower, rallied $3, reversed and closed lower after reporting Q2 revenue and earnings that exceeded expectations and raised guidance, but apparently not by enough for buying to exceed selling on Thursday.  The good news was that volume was about 1.5% of the outstanding shares, meaning that 98.5% of shares were not traded.

BBY +12.39, +14.11%, COO +11.19, +11.84%, both gapped up and closed higher on positive earnings reactions.

CRWD +7.47, +2.83%, reported a revenue and earnings beat but lowered guidance for Q3 and FY25. 

CRM -1.89, -0.73%, reported revenue and earnings that exceeded expectations, and raised Q3 revenue and earnings guidance. CRM gapped higher and reversed, filled the gap and closed lower.

After hours: 

MRVL +5.16, +7.39%, LULU +13.19, +5.09%, ADSK +12.27, +4.75%, MDB +10.35, +4.40%, and DELL +3.67, +3.31% moved higher on positive earnings reactions.

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

BRK/B became an eighth mega cap reaching a $1 trillion market cap on Wednesday.

SPY up .05 at 558.35, 38.6 million shares, below average volume, C-pattern BO continuation pause

VIX down 1.46 at 15.65

QQQ down .69 at 470.66

INTC, V, AAPL, GS led the DJIA, 27 advancers, +17

BBY, COO, WST, SOLV led the SPX, 342 advancers

ARM, PDD, MDB, PYPL led the NDX, 66 advancers

Up:  IWM, DIA, SPY,

Down:  QQQ,

Seven of eleven sectors were higher on Thursday, led by XLE, XLF and XLI.

The SPY MFC green line is pointed up at 91.8 and is short-term bullish.

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

Neutral sectors:  XLY, XLE,

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: Sideways

66 of 100 NDX stocks closed higher on Thursday.

68 NDX stocks are above their 30 DMA:  EA, CTAS, GILD, AEP, CTSH, ILMN, ADP, PAYX, EXC, XEL, KHC, ORLY, MDLZ, KDP, PYPL, AZN, DASH, TMUS, MELI, ISRG, FTNT, REGN, GEHC, LIN, META, COST, PANW, TTD, SBUX, ADSK, ANSS, CCEP, NFLX, AVGO, KLAC, NVDA, AAPL, ADBE, CSCO, IDXX, MRVL, ROP, ROST, TXN, WDAY, ZS, CEG, TTWO, AMD, CPRT, BKNG, CDW, CSGP, LULU, ADI, CRWD, ON, TEAM, ASML, HON, MAR, AMGN, VRSK, VRTX, CSX, DDOG, FANG, MDB,

NDX Stocks to Watch on Friday:

Moving Above 30 DMA = 4

CSX, DDOG, FANG, MDB,

Moving Below 30 DMA = 4

CHTR, CMCSA, PEP, WBD,

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SPX, NDX Close Lower...Breadth Weakens...Financials, Health Care Lead Sectors...After Hours: NVDA, CRWD Lower after EPS, CRM Higher...

© 2024

The SPX -33.62, 5,592, opened flat, trended and closed lower.  The VIX opened higher, trended and closed higher.

The NDX -1.18%, opened slightly lower, trended down and closed lower.

NVDA -2.69, -2.10%, opened slightly lower, traded in a range and closed lower ahead of Q2 earnings after the close.

After hours: 

NVDA -8.66, -6.89%, revenue and earnings exceeded expectations, but apparently not by enough for buying to exceed selling after-hours.

CRWD -7.10, -2.69%, revenue and earnings beat but have lowered guidance for Q3 and FY25.

CRM +11.10, +4.29%, revenue and earnings exceeded expectations, and raised Q3 revenue and earnings guidance.

Mega caps META, AAPL, MSFT, GOOGL, AMZN, TSLA, NVDA fell on Wednesday.

BRK/B became an eighth mega cap reaching a $1 trillion market cap today.

SPY down 3.26 at 558.30, 40.9 million shares, below average volume, C-pattern BO continuation pause

VIX up 1.68 at 17.11

QQQ down 5.41 at 471.35

AXP, AMGN, MRK, JNJ led the DJIA, 10 advancers, -5

PODD, BIO, TSN, GD led the SPX, 212 advancers

GILD, VRTX, CPRT, VRSK led the NDX, 19 advancers

Up: 

Down:  DIA, SPY, IWM, QQQ,

Two of eleven sectors were higher on Wednesday, led by XLF, XLV and XLU.

The SPY MFC green line is flat at 90.6 and is short-term bullish.

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

Neutral sectors:  XLY, XLE,

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

19 of 100 NDX stocks closed higher on Wednesday.

68 NDX stocks are above their 30 DMA:  CHTR, EA, CTAS, GILD, AEP, CTSH, ILMN, ADP, PAYX, EXC, XEL, KHC, PEP, ORLY, MDLZ, KDP, PYPL, AZN, DASH, TMUS, MELI, ISRG, FTNT, REGN, GEHC, LIN, META, COST, PANW, TTD, SBUX, ADSK, ANSS, CCEP, NFLX, AVGO, KLAC, NVDA, AAPL, ADBE, CSCO, IDXX, MRVL, ROP, ROST, TXN, WDAY, ZS, CEG, TTWO, AMD, CPRT, BKNG, CDW, CSGP, LULU, ADI, CHTR, CMCSA, CRWD, ON, WBD, TEAM, ASML, HON, MAR,

NDX Stocks to Watch on Thursday:

Moving Above 30 DMA = 3

AMGN, VRSK, VRTX,  

Moving Below 30 DMA = 3

DDOG, NXPI, QCOM,

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SPX, NDX Close Higher...Technology, Financials, Real Estate Lead Sectors...NVDA EPS Wednesday AMC...

© 2024

The SPX +8.96, 5,625, opened lower, reversed and closed higher just 41 points below its all-time closing high on July 16, 2024.  The VIX opened higher, reversed and closed lower.

The NDX +0.33%, opened lower, reversed and rallied to close higher.

NVDA +1.84, +1.46%, after Truist maintains its Buy rating and adjusts its price target to $145 from $140.  Reports EPS tomorrow, Wednesday, Aug 28, AMC.

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

SPY up .77 at 561.56, 32.6 million shares, below average volume, C-pattern BO continuation, nearing 6-week HBO

VIX down .72 at 15.43

QQQ up 1.42 at 476.76

NKE, HON, V, KO led the DJIA, 15 advancers, -6

RMD, PODD, RCL, NCLH led the SPX, 243 advancers

SBUX, ADI, QCOM, BKNG led the NDX, 55 advancers

Up:  QQQ, SPY, DIA,

Down:  IWM,

Seven of eleven sectors were higher on Tuesday, led by XLK, XLF and XLRE.

The SPY MFC green line is pointed up at 91 and is short-term bullish.

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

Neutral sectors:  XLY, XLE,

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

55 of 100 NDX stocks closed higher on Tuesday.

68 NDX stocks are above their 30 DMA:  CHTR, EA, CTAS, GILD, AEP, CTSH, ILMN, ADP, PAYX, EXC, XEL, KHC, PEP, ORLY, MDLZ, KDP, PYPL, AZN, DASH, TMUS, MELI, ISRG, FTNT, REGN, GEHC, LIN, META, COST, PANW, TTD, SBUX, ADSK, ANSS, CCEP, NFLX, AVGO, KLAC, NVDA, AAPL, ADBE, CSCO, IDXX, MRVL, ROP, ROST, TXN, WDAY, ZS, CEG, TTWO, AMD, CPRT, BKNG, CDW, CSGP, LULU, ADI, CHTR, CMCSA, CRWD, DDOG, ON, WBD, TEAM, ASML, HON, MAR, NXPI, QCOM,

NDX Stocks to Watch on Wednesday:

Moving Above 30 DMA = 5

ASML, HON, MAR, NXPI, QCOM,

Moving Below 30 DMA = 3

FAST, MDB, ODFL,

Add Comments here:

SPX, NDX Pause Close Slightly Lower as Mega-Caps Pull Back...Energy, Consumer Staples, Utilities Lead Sectors...NVDA EPS Wednesday AMC...

© 2024

The SPX -17.77, 5,616, opened slightly higher, pulled back during the first two hours, traded in a range and closed lower.  The VIX opened and closed slightly higher.

The NDX -1.04%, opened lower, pulled back, traded in a range and closed lower.

NVDA -2.91, -2.25%, after Loop Capital reiterates its Buy rating and maintains its $175 price target.  Reports EPS Wednesday, Aug 28, AMC.

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

SPY down 1.34 at 560.79, 35.7 million shares, below average volume, C-pattern BO continuation pause

VIX up .29 at 16.15

QQQ down 4.66 at 475.34

MMM, KO, DIS, AXP led the DJIA, 21 advancers, -7

DAY, JKHY, EOG, WBD led the SPX, 264 advancers

TEAM, WBD, XEL, CHTR led the NDX, 43 advancers

Up:  DIA, IWM,

Down:  SPY, QQQ,

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

The SPY MFC green line is pointed up at 90 and is short-term bullish.

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

Neutral sectors:  XLY, XLE,

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: Sideways

43 of 100 NDX stocks closed higher on Monday.

66 NDX stocks are above their 30 DMA:  CHTR, EA, CTAS, GILD, AEP, CTSH, ILMN, ADP, PAYX, EXC, XEL, KHC, PEP, ORLY, MDLZ, KDP, PYPL, AZN, DASH, TMUS, MELI, ISRG, FTNT, REGN, GEHC, LIN, META, COST, PANW, TTD, SBUX, ADSK, ANSS, CCEP, NFLX, AVGO, KLAC, NVDA, AAPL, ADBE, CSCO, IDXX, MDB, MRVL, ODFL, ROP, ROST, TXN, WDAY, ZS, CEG, TTWO, AMD, CPRT, BKNG, CDW, CSGP, LULU, ADI, CHTR, CMCSA, CRWD, DDOG, FAST, ON, WBD, TEAM,

NDX Stocks to Watch on Tuesday:

Moving Above 30 DMA = 1

TEAM,  

Moving Below 30 DMA = 3

ASML, CDNS, PDD,

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SPX, NDX Close Higher after Powell Speech at Jackson Hole...Consumer Discretionary, Real Estate, Technology Lead all Sectors Higher...WDAY Leads NDX on Positive EPS Reaction...

© 2024

The SPX +63.97, 5,634, opened higher, rose during Powell’s speech at 10 am ET and consolidated after his speech ended and rallied to close near its high of the day.  The VIX opened lower and closed lower.

Powell gave a 16-minute speech at the annual Jackson Hole Economic Symposium today.  His comments did, as expected, set the stage for a potential rate cut at the next FOMC meeting on September 18.  He also said, “My confidence has grown that inflation is on a sustainable path back to 2 percent.”  Also, “The time has come for policy to adjust.  The direction of travel is clear, and the timing and pace of rate cuts will depend on incoming data, the evolving outlook, and the balance of risks.”

The NDX +1.18%, opened higher, traded in a range and closed higher.

NVDA +5.63, +4.55%, after Wedbush maintains its Outperform rating and raises its price target to $138 from $120.  Reports EPS Aug 28 AMC.

WDAY +28.87, +12.49%, on a positive EPS reaction and INTU -45.44, -6.83%, fell on a negative earnings reaction, both after reporting earnings Thursday AMC.

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

SPY up 5.91 at 562.13, 50.6 million shares, below average volume, C-pattern BO continuation

VIX down 1.69 at 15.86

QQQ up 5.15 at 480.00

HD, GS, INTC, CRM led the DJIA, 28 advancers, +19

BLDR, NCLH, CCL, ENPH led the SPX, 432 advancers

WDAY, WBD, MRVL, TSLA led the NDX, 85 advancers

Up:  IWM, QQQ, DIA, SPY,

Down: 

All eleven sectors were higher on Friday, led by XLY, XLRE and XLK.

The SPY MFC green line is pointed up at 89.6 and is short-term bullish.

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

Neutral sectors:  XLY, XLE,

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

85 of 100 NDX stocks closed higher on Friday.

68 NDX stocks are above their 30 DMA:  CHTR, EA, CTAS, GILD, AEP, CTSH, ILMN, ADP, PAYX, EXC, XEL, KHC, PEP, ORLY, MDLZ, KDP, PYPL, AZN, DASH, TMUS, MELI, ISRG, FTNT, PDD, REGN, GEHC, LIN, META, COST, PANW, TTD, SBUX, ADSK, ANSS, CCEP, NFLX, AVGO, KLAC, NVDA, AAPL, ADBE, CSCO, IDXX, MDB, MRVL, ODFL, ROP, ROST, TXN, WDAY, ZS, CDNS, CEG, TTWO, AMD, ASML, CPRT, BKNG, CDW, CSGP, LULU, ADI, CHTR, CMCSA, CRWD, DDOG, FAST, ON, WBD,

NDX Stocks to Watch on Monday:

Moving Above 30 DMA = 8

ADI, CHTR, CMCSA, CRWD, DDOG, FAST, ON, WBD,

Moving Below 30 DMA = 1

INTU,  

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