Monday, August 12, 2024

SPX, NDX Close Slightly Higher in Light Volume Trading as PPI Report Tuesday 8:30 am ET...Technology, Energy, Utlilities Lead Sectors...DECK Support Bounce...


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The SPX +0.23, 5,344, opened slightly higher, traded in a range and closed flat.  The VIX opened and closed slightly higher.

The NDX +0.16%, opened slightly higher, traded in narrow range and closed slightly higher.

DECK +28.05, +3.15%, support bounce is the seventh largest SPX gainer on Monday.

PPI report 8:30 am ET BMO Tuesday morning.


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


SPY up .28 at 533.27, 42.4 million shares, below average volume
VIX up .34 at 20.71
QQQ up .97 at 451.38

UNH, WMT, AAPL, MCD led the DJIA, 9 advancers, -10
KEY, SMCI, NVDA, EQT, FSLR, PODD led the SPX, 160 advancers
SMCI, NVDA, PDD, SBUX led the NDX, 33 advancers

Up:  QQQ, SPY,
Down:  DIA, IWM,

Three of eleven sectors were higher on Monday, led by XLK, XLE and XLU.

The SPY MFC green line is pointed up at 31.4 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


33 of 100 NDX stocks closed higher on Monday.

34 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, IDXX, LIN, META, COST, PANW, TTD, FANG, SBUX, 


NDX Stocks to Watch on Tuesday:
Moving Above 30 DMA = 2
FANG, SBUX,


Moving Below 30 DMA = 3
CCEP, CMCSA, ODFL,



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