Tuesday, October 8, 2024

SPX, NDX Regain Monday's Pull Back, Close Above Friday's Close...Technology, Consumer Discretionary, Communication Services Lead Sectors Higher...PEP Positive EPS Reaction...


© 2024


The SPX +55.19, 5,751, opened higher, trended up, regained Monday’s pullback and closed at Friday’s close.  The SPX is a bull flag bounce.  The SPX closed above 5,700 for the twelfth time since Sept. 19.

The NDX +1.55%, opened higher and regained all of Monday’s pull back and closed above Friday’s high.  The NDX is a bull flag bounce moving above the high of a following day and the low day.

NVDA +5.16, +4.04%, opened higher, trended up and closed higher just $2.69 below its all-time closing high on June 18.   

PEP +3.21, +1.52%, positive earnings reaction on an EPS beat and revenue miss as we enter the Q3 earnings season.


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


SPY up 5.37 at 573.17, 35.2 million shares, below average volume
VIX down 1.23 at 21.41
QQQ up 7.20 at 489.30

INTC, CRM, TRV, AAPL led the DJIA, 20 advancers, +16
PLTR, EW, CCL, BAX led the SPX, 312 advancers
PANW, SNPS, INTC, NVDA led the NDX, 84 advancers


Up:  QQQ, SPY, DIA, IWM,
Down: 

Nine of eleven sectors were higher on Tuesday, led by XLK, XLY and XLC

The SPY MFC green line turned up at 87 and is short-term bullish. +2.6

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 a little.

3-month Intermediate Term Market Trend: Up
3-day Short Term Market TrendUp


84 of 100 NDX stocks closed higher on Tuesday.

62 NDX stocks are above their 30 DMA:  CTAS, GILD, PAYX, EXC, PYPL, DASH, FTNT, GEHC, TTD, ADSK, NFLX, CSCO, BKNG, MAR, FAST, IDXX, PCAR, TSLA, AMD, ARM, AVGO, CEG, CRWD, META, PCAR, ABNB, INTC, BKR, CMCSA, DDOG, CPRT, GOOGL, TMUS, TXN, AMAT, ORLY, PDD, LRCX, MU, SBUX, SNPS, ADP, ISRG, ADI, ILMN, KLAC, MRVL, NVDA, FANG, LULU, TEAM, SMCI, AAPL, ANSS, ASML, CDNS, CDW, DXCM, HON, PANW, SNPS, VRSK, ZS,

NDX Stocks to Watch on Wednesday:
Moving Above 30 DMA = 11
AAPL, ANSS, ASML, CDNS, CDW, DXCM, HON, PANW, SNPS, VRSK, ZS,


Moving Below 30 DMA = 0




Add Comments here:

No comments: