Friday, August 9, 2024

SPX, NDX Close Higher...VIX Continues to Fall...Communication Services, Real Estate, Health Care Lead Sectors Higher...


© 2024


The SPX +24.85, 5,344, opened flat, trended higher and made its highest close of the week.  The VIX opened flat and closed significantly lower.

The NDX +0.54%, opened slightly lower and closed higher.


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


SPY up 2.34 at 532.99, 45.6 million shares, below average volume
VIX down 3.42 at 20.37
QQQ up 2.34 at 450.41


AXP, AAPL, CRM, GS led the DJIA, 19 advancers, -10
AKAM, EXPE, LLY, AIZ led the SPX, 290 advancers
TTD, PANW, TTWO, MNST led the NDX, 57 advancers

Up:  QQQ, SPY, DIA,
Down:  IWM,

Ten of eleven sectors were higher on Friday, led by XLC, XLRE and XLV.

The SPY MFC green line is pointed up at 25.6 and is short-term bullish.

Uptrend sectors:   XLRE, XLU, XLV, XLP, XLC, XLF, XLB, XLI, XLK,
Neutral sectors:  XLE, XLY,
Down trend sectors: 

The 6-month intermediate trend is up.  The ten-day trend is down.

3-month Intermediate Term Market Trend: Up a little
3-day Short Term Market TrendUp


57 of 100 NDX stocks closed higher on Friday.

35 NDX stocks are above their 30 DMA:  CHTR, EA, CTAS, GILD, ODFL, AEP, CTSH, ILMN, ADP, PAYX, EXC, XEL, KHC, PEP, ORLY, MDLZ, KDP, PYPL, AZN, DASH, TMUS, MELI, ISRG, FTNT, PDD, REGN, CMCSA, GEHC, IDXX, LIN, META, CCEP, COST, PANW, TTD,

NDX Stocks to Watch on Monday:
Moving Above 30 DMA = 4
CCEP, COST, PANW, TTD,


Moving Below 30 DMA = 2
CSX, SBUX,



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