Tuesday, October 1, 2024

SPX, NDX, DJI Fall on news of Ballistic Missile Attack on Israel...Oil, Volatility Jump...Energy, Utilities, Communication Services Lead Sectors...SPY Green Line Turns Down...


© 2024


The SPX -53.73, 5,708, opened lower and within seconds sold off sharply as news that Iran was preparing to launch a ballistic missile attack against Israel hit the wire.  The SPX closed above 5,700 for the ninth day. 

The NDX -1.43%, opened lower and continued to pull back on the middle east news to form a red candle in a bull flag setup.

NVDA 4.44, -3.66%, opened slightly higher, reversed after the open and formed red candle for day three of a bull flag setup.   


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


SPY down 5.14 at 568.62, 72.4 million shares, above average volume
VIX up 2.53 at 19.26
QQQ down 6.80 at 481.27

CVX, BA, MRK, V led the DJIA, 11 advancers, -5
FTI, APA, COP, MRO, WYNN led the SPX, 163 advancers
PDD, PAYX, FANG, CEG led the NDX, 23 advancers

Up:   
Down:  DIA, SPY, IWM, QQQ,

Four of eleven sectors were higher on Tuesday, led by XLE, XLU and XLC

The SPY MFC green line turned down at 91.2 and is counter-trend defensive. -2.7

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


23 of 100 NDX stocks closed higher on Tuesday.

55 NDX stocks are above their 30 DMA:  CTAS, GILD, PAYX, EXC, XEL, KDP, PYPL, DASH, FTNT, GEHC, TTD, ADSK, NFLX, CSCO, BKNG, MAR, MNST, AMZN, FAST, IDXX, LIN, PCAR, TSLA, AMD, ARM, AVGO, CEG, CRWD, META, PCAR, WBD, ABNB, INTC, BKR, CMCSA, DDOG, AAPL, CPRT, GOOGL, HON, TMUS, TXN, AMAT, ORLY, PDD, LRCX, MU, SBUX, CSX, LULU, SNPS, AEP, ADP, ISRG, MELI,

NDX Stocks to Watch on Wednesday:
Moving Above 30 DMA = 1
MELI,


Moving Below 30 DMA = 18
ADI, ANSS, CDNS, CDW, CTSH, ILMN, KLAC, MCHP, MDLZ, MRVL, MSFT, NVDA, NXPI, ODFL, ON, QCOM, ROP, TXN,



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