Tuesday, September 10, 2024

SPX, NDX Close Higher...ORCL Leads SPX on Positive EPS Reaction...Real Estate, Technology, Consumer Discretionary Lead Sectors...CPI Report Wednesday 8:30 am ET...


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The SPX +24.47, 5,495, opened higher, traded in a range and closed higher.  The SPX on Monday and Tuesday regained about 91% of Friday’s selloff and closed above the high of Monday’s bullish harami candle pattern.  VIX closed slightly lower.

The NDX +0.90%, opened higher, pulled back, reversed and closed higher confirming Monday’s bullish harami candle pattern.

NVDA +1.63, +1.53%, opened higher, traded in a range and closed higher.

AVGO +7.39, +5.25%, opened higher, trended up and closed higher.

ORCL +16.00, +11.44%, gapped up and closed higher after better-than-expected Q1 results Monday after the close and was the leading SPX advancer Tuesday.


CPI report Wednesday 8:30 am ET.


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


SPY up 2.38 at 548.79, 36.3 million shares, below average volume
VIX down .37 at 19.08
QQQ up 4.20 at 458.66

AMZN, VZ, MSFT, WMT led the DJIA, 15 advancers, -11
ORCL, AVGO, DLR, TSLA EQIX led the SPX, 262 advancers
AVGO, TSLA, MRVL, MRNA led the NDX, 57 advancers

Up:  QQQ, SPY,
Down:  IWM, DIA,

Seven of eleven sectors were higher on Tuesday, led by XLRE, XLK and XLY.

The SPY MFC green line is pointed down at 68.5 and is defensive. -1.2

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


57 of 100 NDX stocks closed higher on Tuesday.

53 NDX stocks are above their 30 DMA:  CTAS, GILD, AEP, CTSH, ADP, PAYX, EXC, XEL, KHC, 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, TXN, AMD, AMGN, ARM, INTU, MSFT, ORLY,

NDX Stocks to Watch on Wednesday:
Moving Above 30 DMA = 6
AMD, AMGN, ARM, INTU, MSFT, ORLY,


Moving Below 30 DMA = 1
CMCSA,



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