Thursday, December 19, 2024

SPX, NDX Closed Lower after Higher Open...Utilities, Fiancial and Technology Lead Sectors


© 2024


SPX -5.08, 5,867, opened higher, traded in a volatile range and closed lower.  Breadth strengthened from Wednesday but remained negative.  The DJI, 42,342 closed higher after a ten-day pullback, reportedly the longest since 1974.  The RUT closed lower.

NDX -0.47% closed lower in a 3-day bull flag pattern.

LW -15.72, -20.10%, MU -16.81, -16.18%, CTAS -21.60, -10.57%, closed lower on negative earnings reactions. 

TSLA -3.96, -0.90%, opened higher, closed slightly lower.

SMCI -0.99, -3.07%, closed at 3-week support. 

PLTR, AXON and MSTR will be added to the NDX before the open on Dec. 23 and SMCI, MRNA and ILMN will be removed.

LII, APO and WDAY will be added to the SPX before the open on Monday, Dec. 23 and CTLT, QRVO and AMTM will be removed.  


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


SPY down 0.18 at 586.10, 85.9 million shares, above average volume,
VIX down 3.53 at 24.09,
VIX1D down 22.44 at 23.31, post FOMC.
QQQ down 2.30 at 514.17

BA, AXP, IBM, V led the DJIA, 18 advancers, +17                 
DRI, ACN, GEV, UAL, PLTR led the SPX, 197 advancers
MRVL, MRNA, APP, EXC led the NDX, 36 advancers

Up:  DIA,
Down:  SPY, IWM, QQQ,

The SPY MFC green line is pointed down at 64.1 and is counter-trend defensive. -15.9.

Three of eleven sectors were higher on Thursday, led by XLU, XLF and XLK. 

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

The 6-month intermediate trend is up.  The ten-day trend is down.

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


36 of 100 NDX stocks closed higher on Thursday.

15 NDX stocks are above their 30 DMA:  MRVL, NFLX, TSLA, WBD, AMZN, DDOG, LULU, AAPL, MSFT, ASML, META, CCEP, WDAY, AVGO, GOOGL

NDX Stocks to Watch on Friday:
Moving Above 30 DMA = 0



Moving Below 30 DMA = 5
COST, LRCX, MU, ROST, SMCI,



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