SPX, DJI New All-time Closing High as Tech and Mega-cap Stocks Rise...Technology, Consumer Discretionary, Industrials Lead Sectors...Afterhours: FDX, LEN Lower after EPS...

© 2024

The SPX +95.38, 5,713, opened higher after futures rose in evening and pre-market trading, trended higher and made a new all-time closing high following the Fed’s 50 bps interest rate cut on Wednesday.

SPX closes above 5,700 for the first time.

The NDX +2.56% opened higher, traded in a higher range and closed higher as NDX led RUT, SPX and DJI on Thursday.

NVDA +4.50, +3.97%, opened higher and closed higher as Tech stocks led the Fed rate cut rally.

AVGO +5.75, +3.56%, rallied with Tech and semiconductor stocks.

Afterhours:  FDX -33.39, -11.12% lower after eps and revenue miss.  LEN -4.20, -2.18% lower after eps and revenue beat.

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

SPY up 9.58 at 570.98, 75.2 million shares, above average volume

VIX down 1.90 at 16.33

QQQ up 11.92 at 483.36

CRM, CAT, GS, AAPL, AXP led the DJIA, 17 advancers, +7

DRI, TSLA, PWR, DFS, KLAC led the SPX, 351 advancers

TSLA, PYPL, AMD, AMAT led the NDX, 85 advancers

Up:  QQQ, IWM, SPY, DIA,

Down:   

Eight of eleven sectors were higher on Thursday, led by XLK, XLY and XLI.

The SPY MFC green line is pointed up at 93.8 and is short-term bullish. +1.2

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

Neutral sectors: 

Down trend sectors:  XLE,

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

85 of 100 NDX stocks closed higher on Thursday.

76 NDX stocks are above their 30 DMA:  CTAS, GILD, AEP, ADP, PAYX, EXC, XEL, MDLZ, KDP, PYPL, DASH, MELI, ISRG, FTNT, GEHC, COST, TTD, SBUX, ADSK, CCEP, NFLX, CSCO, MRVL, ROP, ROST, WDAY, BKNG, MAR, MDB, MNST, AMZN, FAST, IDXX, LIN, PCAR, TSLA, AMD, AMGN, ARM, MSFT, ADI, AVGO, CEG, CRWD, LULU, CDNS, CDW, META, PCAR, WBD, ABNB, ILMN, QCOM, TXN, CSX, INTC, BKR, ODFL, QCOM, CMCSA, CSGP, DDOG, TEAM, AAPL, AMAT, ANSS, CPRT, DXCM, GOOGL, HON, INTU, KLAC, MCHP, NVDA, ON, SNPS, TMUS, TXN,

NDX Stocks to Watch on Friday:

Moving Above 30 DMA = 15

AAPL, AMAT, ANSS, CPRT, DXCM, GOOGL, HON, INTU, KLAC, MCHP, NVDA, ON, SNPS, TMUS, TXN,

Moving Below 30 DMA = 3

ORLY, PEP, TTWO,

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Futures Higher Afterhours following Volatile Gyrations During Regular Trading...FOMC Cuts Rates 50 BPS...Stocks Spike and Fall...

© 2024

Afterhours:  After gyrating wildly after the Fed rate cut and closing slightly lower, NQ futures have risen more than +1.40%  in evening trading, reversing the pullback during Powell’s press conference this afternoon.

The SPX -16.32, 5,618, opened slightly higher and moved 490 SPX points in seven up and down cycles, to close 16 points lower.  The Fed delivered a 50 bps cut in line with the CME Fed Watch Tool probability derived from /ZQ Fed funds trading, but higher than a CNBC Fed Survey of money managers, economists and strategist who estimated a 25 bps cut.  Stock prices spiked on the Fed announcement before pulling back to close slightly lower.

There is volatility, drawing on the chart.

The NDX -0.45% opened higher, traded in a choppy range before and more choppy after the FOMC announcement on Wednesday and closed lower.

NVDA -2.22, -1.92%, opened flat, traded in a range and closed lower.

AVGO -1.55, -0.95%, opened higher traded in a range and closed lower.

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

SPY down 1.67 at 561.40, 58.8 million shares, above average volume

VIX up .62 at 18.23

QQQ down 2.05 at 471.44

AAPL, DIS, WMT, UNH led the DJIA, 12 advancers, -5

WST, GM, BIO, BLK, GEHC led the SPX, 209 advancers

DLTR, TEAM, MNST, TTD led the NDX, 33 advancers

Up:  IWM,  

Down:  DIA, SPY, QQQ,

One of eleven sectors was higher on Wednesday, led by XLE, XLC and XLI.

The SPY MFC green line is pointed up at 92.6 and is short-term bullish. +0.7

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

Neutral sectors: 

Down trend sectors:  XLE,

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

33 of 100 NDX stocks closed higher on Wednesday.

64 NDX stocks are above their 30 DMA:  CTAS, GILD, AEP, ADP, PAYX, EXC, XEL, MDLZ, KDP, PYPL, DASH, MELI, ISRG, FTNT, GEHC, COST, TTD, SBUX, ADSK, CCEP, NFLX, CSCO, MRVL, ROP, ROST, WDAY, TTWO, BKNG, MAR, MDB, PEP, MNST, AMZN, FAST, IDXX, LIN, PCAR, TSLA, AMD, AMGN, ARM, MSFT, ADI, AVGO, CEG, CRWD, LULU, CDNS, CDW, META, PCAR, WBD, ABNB, ILMN, ORLY, QCOM, TXN, CSX, INTC, BKR, ODFL, QCOM, CMCSA, CSGP, DDOG, TEAM,

NDX Stocks to Watch on Thursday:

Moving Above 30 DMA = 4

CMCSA, CSGP, DDOG, TEAM,

Moving Below 30 DMA = 7

ANSS, CTSH, HON, INTU, TMUS, TXN, VRTX,

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SPX Rally Fades to Close Near Unchanged Prior to Wednesday's FOMC Announcement...Energy, Industrials, Financials Lead Sectors...

© 2024

The SPX +1.49, 5,634, opened higher after an overnight rally, rose 37 points to Tuesday’s high before pulling back into a trading range.  VIX opened lower and reversed higher after the SPX pulled back from Tuesday’s high.

The NDX +0.05% opened slightly higher, traded in a narrow range before the FOMC announcement on Wednesday.

NVDA -1.19, -1.02%, was the only mega-cap to close slightly lower on Tuesday.

AVGO -1.55, -0.95%, closed slightly lower while trading in a narrow range.

ADBE -6.47, -1.24%, downward momentum slowed today after a negative EPS reaction on Friday because of lowered Q4 guidance.

FOMC announcement Wednesday, 2 pm ET and press conference 2:30 pm ET.  A rate cut of at least 25 bps is expected.

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

SPY up .23 at 563.07, 49.2 million shares, average volume

VIX up .47 at 17.61

QQQ up .26 at 473.49

INTC, DOW, AXP, CAT led the DJIA, 17 advancers, -8

ENPH, HPE, URI, SYF led the SPX, 268 advancers

MRNA, ABNB, FANG, PCAR led the NDX, 49 advancers

Up:  IWM, QQQ, SPY,

Down:  DIA,

Five of eleven sectors were higher on Tuesday, led by XLE, XLI and XLF.

The SPY MFC green line is pointed up at 91.9 and is short-term bullish. +4.5

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

Neutral sectors: 

Down trend sectors:  XLE,

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

49 of 100 NDX stocks closed higher on Tuesday.

67 NDX stocks are above their 30 DMA:  CTAS, GILD, AEP, CTSH, ADP, PAYX, EXC, XEL, MDLZ, KDP, PYPL, DASH, MELI, ISRG, FTNT, GEHC, COST, TTD, SBUX, ADSK, CCEP, NFLX, CSCO, MRVL, ROP, ROST, WDAY, TTWO, BKNG, MAR, MDB, PEP, MNST, AMZN, FAST, IDXX, LIN, PCAR, TMUS, TSLA, AMD, AMGN, ARM, INTU, MSFT, ADI, ANSS, AVGO, CEG, CRWD, HON, LULU, CDNS, CDW, META, PCAR, VRTX, WBD, ABNB, ILMN, ORLY, QCOM, TXN, CSX, INTC, BKR, ODFL, QCOM, TXN,

NDX Stocks to Watch on Wednesday:

Moving Above 30 DMA = 4

BKR, ODFL, QCOM, TXN,

Moving Below 30 DMA = 6

CSGP, KHC, NVDA, PANW, TEAM, VRSK,

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SPX Closes Higher as Tech Stocks Cool After Report of Lower-than-expected iPhone 16 pre-oreders...Financials, Energy, Communication Services Lead Sectors...FOMC Meeting Starts Tomorrow, Rates Expected...

© 2024

The SPX +7.07, 5,633, opened slightly lower, traded in a narrow range and closed slightly higher.  VIX opened higher, traded in narrow range and closed slightly higher.

The NDX -0.47%, opened lower after a pre-market decline in AAPL, Mega-cap and tech stocks.

NVDA -2.32, -1.95%, opened lower in sympathy with a tech stock decline pre-market following a report that AAPL iPhone 16 pre-orders were lower than expected.

AVGO -3.67, -2.19%, opened lower in sympathy with a tech stock pre-market decline.

ADBE -15.37, -2.86%, opened flat and continued to trend down after a negative EPS reaction on Friday because of lowered Q4 guidance.

FOMC announcement Wednesday, 2 pm ET and press conference 2:30 pm ET.  A rate cut of at least 25 bps is expected.

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

SPY up .83 at 562.84, 36.6 million shares, below average volume

VIX up .58 at 17.14

QQQ down 2.10 at 473.24

INTC, MRK, CSCO, TRV led the DJIA, 25 advancers, +1

INTC, BBWI, ORCL, VST led the SPX, 385 advancers

INTC, CRWD, DLTR, PDD led the NDX, 56 advancers

Up:  DIA, IWM, SPY,

Down:  QQQ,

Nine of eleven sectors were higher on Friday, led by XLF, XLE and XLC.

The SPY MFC green line is pointed up at 87.4 and is short-term bullish. +6.1

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

Neutral sectors: 

Down trend sectors:  XLE,

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

3-month Intermediate Term Market Trend: Up

3-day Short Term Market Trend: Up

56 of 100 NDX stocks closed higher on Monday.

69 NDX stocks are above their 30 DMA:  CTAS, GILD, AEP, CTSH, ADP, PAYX, EXC, XEL, MDLZ, KDP, PYPL, DASH, MELI, ISRG, FTNT, GEHC, COST, PANW, TTD, SBUX, ADSK, CCEP, NFLX, CSCO, MRVL, ROP, ROST, WDAY, TTWO, BKNG, CSGP, TEAM, MAR, VRSK, MDB, PEP, MNST, AMZN, FAST, IDXX, LIN, PCAR, TMUS, TSLA, AMD, AMGN, ARM, INTU, MSFT, ADI, ANSS, AVGO, CEG, CRWD, HON, LULU, NVDA, CDNS, CDW, META, PCAR, VRTX, WBD, ABNB, ILMN, KHC, ORLY, QCOM, TXN, CSX, INTC,

NDX Stocks to Watch on Tuesday:

Moving Above 30 DMA = 2

CSX, INTC,

Moving Below 30 DMA = 4

AAPL, CMCSA, QCOM, TXN, 

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SPX, NDX Close Higher for Fifth Day...Utilities, Industrials, Communication Services Led All Sectors Higher...

© 2024

The SPX +30.26, 5,626, opened slightly higher, trended up, to close at its highest level in September.  VIX opened lower and closed lower.

The NDX +0.47%, opened flat, trended up and closed higher for a fifth day on a bounce continuation move.

ADBE -49.68, -8.47%, gapped down after an earnings and revenue beat, but Q4 guidance was below expectations.

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

SPY up 2.92 at 562.01, 39.2 million shares, below average volume

VIX down .51 at 16.56

QQQ up 2.12 at 475.34

CAT, TRV, INTC, AXP led the DJIA, 24 advancers, +1

WBD, ETSY, ALGN, UBER led the SPX, 417 advancers

WBD, ARM, MU, ON, SMCI led the NDX, 72 advancers

Up:  IWM, DIA, SPY, QQQ,

Down: 

All eleven sectors were higher for the second straight day on Friday, led by XLU, XLI and XLC.

The SPY MFC green line is pointed up at 81.3 and is short-term bullish. +8

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

Neutral sectors: 

Down trend sectors:  XLE,

The 6-month intermediate trend is up.  The ten-day trend is up a little.

3-month Intermediate Term Market Trend: Up

3-day Short Term Market Trend: Up

72 of 100 NDX stocks closed higher on Friday.

71 NDX stocks are above their 30 DMA:  CTAS, GILD, AEP, CTSH, ADP, PAYX, EXC, XEL, MDLZ, KDP, PYPL, DASH, MELI, ISRG, FTNT, GEHC, COST, PANW, TTD, SBUX, ADSK, CCEP, NFLX, CSCO, MRVL, ROP, ROST, WDAY, TTWO, BKNG, CSGP, TEAM, MAR, VRSK, MDB, PEP, MNST, AMZN, FAST, IDXX, LIN, PCAR, TMUS, TSLA, AMD, AMGN, ARM, INTU, MSFT, AAPL, ADI, ANSS, AVGO, CEG, CRWD, HON, LULU, NVDA, CDNS, CDW, META, PCAR, VRTX, WBD, ABNB, CMCSA, ILMN, KHC, ORLY, QCOM, TXN,

NDX Stocks to Watch on Monday:

Moving Above 30 DMA = 7

ABNB, CMCSA, ILMN, KHC, ORLY, QCOM, TXN,

Moving Below 30 DMA = 2

ADBE, REGN,   

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SPX, NDX Close Higher for Fourth Day as Mega-cap Stocks Move Higher...SPX 5,595 Highest Close in September...Communication Services, Consumer Discretionary, Basic Materials Lead all Sectors Higher...After-hours: ADBE Down on Q4 Guidance...

© 2024

The SPX +41.63, 5,595, opened slightly higher, pulled back 22 points before bouncing in a strong trend continuation move on Thursday, to close at its highest level in September.  VIX opened lower and closed lower.

Today’s PPI report: M/M 0.2% vs 0.2% consensus, Y/Y 1.7% vs 1.8% consensus.  Core CPI was M/M 0.3% vs 0.2% consensus, Y/Y 2.4% vs 2.4% prior month. 

The NDX +0.97%, opened flat, trended up and closed higher with a strong bounce continuation move.

NVDA +2.23, +1.91%, opened flat and moved higher as Jensen Huang comments at the Goldman technology conference on Wednesday clarified the progress and positive AI developments in NVDA’s business.

AVGO +6.29, +3.97%, opened flat, trended up also with a strong bounce continuation move and closed higher.

After-hours:  ADBE -55.84, -9.52%, earnings, revenue beat, Q4 guidance below expectations.

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

SPY up 4.67 at 559.09, 51.7 million shares, below average volume

VIX down .62 at 17.07

QQQ up 4.60 at 473.22

MMM, CAT, AMZN, TRV led the DJIA, 23 advancers, +3

WBD, ORCL, KR, AXON, NEM led the SPX, 370 advancers

WBD, MELI AVGO, CHTR, ZS led the NDX, 76 advancers

Up:  IWM, QQQ, SPY, DIA,

Down: 

All eleven sectors were higher on Thursday, led by XLC, XLY and XLB.

The SPY MFC green line is pointed up at 73.3 and is short-term bullish. +3.5

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

Neutral sectors: 

Down trend sectors:  XLE,

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

3-month Intermediate Term Market Trend: Up

3-day Short Term Market Trend: Up

76 of 100 NDX stocks closed higher on Thursday.

66 NDX stocks are above their 30 DMA:  CTAS, GILD, AEP, CTSH, ADP, PAYX, EXC, XEL, MDLZ, KDP, PYPL, DASH, MELI, ISRG, FTNT, GEHC, COST, PANW, TTD, SBUX, ADSK, CCEP, NFLX, ADBE, CSCO, MRVL, ROP, ROST, WDAY, TTWO, BKNG, CSGP, TEAM, MAR, VRSK, MDB, PEP, MNST, AMZN, FAST, IDXX, LIN, PCAR, TMUS, TSLA, AMD, AMGN, ARM, INTU, MSFT, AAPL, ADI, ANSS, AVGO, CEG, CRWD, HON, LULU, NVDA, CDNS, CDW, META, PCAR, REGN, VRTX, WBD,

NDX Stocks to Watch on Friday:

Moving Above 30 DMA = 7

CDNS, CDW, META, PCAR, REGN, VRTX, WBD,

Moving Below 30 DMA = 1

TXN,  

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