Wednesday, September 25, 2024

SPX Narrow Range Pause Day...NDX Inches Higher...Utilities, Technology Lead Sectors...After-hours: MU Higher on Positive EPS and Guidance Reaction...


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The SPX -10.67, 5,732, opened flat, traded in a range, made an intra-day all-time high at 5,741 before closing slightly lower.  SPX closed above 5,700 for the fifth day.

The NDX +0.14% traded in narrow range and closed slightly higher.

NVDA +2.64, +2.18%, opened higher, trended up and closed higher as semiconductor stocks continued to bounce on Wednesday.   

AVGO +.68, +0.39%, rallied with semiconductor stocks.

After-hours: MU +14.16, +14.79%, after an EPS and revenue beat and strong guidance.


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


SPY down 1.62 at 569.67, 44.1 million shares, below average volume
VIX up .02 at 15.41
QQQ up .45 at 485.82

INTC, CRM, WMT, HON led the DJIA, 12 advancers, -7
VST, HPE, DELL, J led the SPX, 132 advancers
CEG, INTC, AMD, ARM led the NDX, 35 advancers


Up:  QQQ,
Down:  SPY, DIA, IWM,   

Two of eleven sectors were higher on Wednesday, led by XLU, XLK and XLP

The SPY MFC green line is pointed up at 93.7 and is short-term bullish. +1.3

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 TrendUp a little


35 of 100 NDX stocks closed higher on Wednesday.

65 NDX stocks are above their 30 DMA:  CTAS, GILD, AEP, ADP, PAYX, EXC, XEL, MDLZ, KDP, PYPL, DASH, MELI, ISRG, FTNT, GEHC, COST, TTD, ADSK, NFLX, CSCO, MRVL, BKNG, MAR, MDB, MNST, AMZN, FAST, IDXX, LIN, PCAR, TSLA, AMD, ARM, MSFT, ADI, AVGO, CEG, CRWD, CDNS, META, PCAR, WBD, ABNB, QCOM, TXN, INTC, BKR, CMCSA, DDOG, TEAM, AAPL, ANSS, CPRT, GOOGL, HON, TMUS, TXN, AMAT, ODFL, NVDA, ORLY, PDD, ROST, LRCX, MU, SBUX,

NDX Stocks to Watch on Thursday:
Moving Above 30 DMA = 3
LRCX, MU, SBUX,


Moving Below 30 DMA = 6
AMGN, CCEP, CDW, CSX, LULU, ROP,



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