Thursday, October 17, 2024

SPX Closes Flat...DJI Makes New All-time Closing High...Energy, Technology, Financial Lead Sectors...


© 2024


The SPX -1.00, 5,841, gapped up, filled the gap and closed slightly lower after making a new intraday all-time high.  The SPX closed above 5,800 for the fourth time.  The DJI made a new all-time closing high.

The NDX +0.08, gapped up, filled the gap closed above the high of the low day in bull flag bounce. 

NVDA +1.21, +0.89%, gapped open, filled the gap and closed higher in a bull flag bounce.  


First day reaction: Q3, Thursday
PositiveSNA, TRV, BX, MTB, STLD, DFS, PPG, UAL, SYF, USB, PLD, JBHT, ABT, OMC, WBA, SCHW, PNC, JNJ, FAST, WFC, JPM, BLK, = 22
Neutral:  MMC, KMI, STT, BAC, PGR, UNH = 6
NegativeELV, CSX, TFC, CCI, EFX, HBAN, KEY, CFG, BK, DAL, DPZ = 11


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


SPY up .05 at 582.35, 34.3 million shares, below average volume, stayed above, Oct 14, the low of the high day
VIX down .47 at 19.11
QQQ up .34 at 491.25

TRV, CVX, AXP, V led the DJIA, 17 advancers, -4                  
UAL, DAL, MS, WBA led the SPX, 232 advancers
AVGO, MU, ASML, VRTX led the NDX, 49 advancers

Up:   DIA, QQQ, SPY,
Down:  IWM,

Four of eleven sectors were higher on Thursday, led by XLE, XLK and XLF.

The SPY MFC green line is pointed down at 94 and is short-term bullish, -0.7, because price is above the low of the high day, Oct. 14.

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

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


49 of 100 NDX stocks closed higher on Thursday.

66 NDX stocks are above their 30 DMA:  CTAS, GILD, PAYX, PYPL, DASH, FTNT, GEHC, TTD, ADSK, CSCO, BKNG, MAR, FAST, ARM, AVGO, CEG, CRWD, META, PCAR, ABNB, INTC, BKR, CMCSA, DDOG, CPRT, GOOGL, TMUS, ORLY, PDD, MU, SNPS, ADP, ILMN, MRVL, NVDA, LULU, TEAM, SMCI, AAPL, ANSS, HON, PANW, ZS, AMZN, ODFL, QCOM, TTWO, MNST, VRTX, EXC, GFS, LIN, PEP, ROP, CSGP, CTSH, EA, ADI, DXCM, FANG,

NDX Stocks to Watch on Friday:
Moving Above 30 DMA = 3
MELI, ROST, SNPS,


Moving Below 30 DMA = 5
CHTR, CSX, VRSK, WBD, XEL,



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