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...

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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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