SPX, NDX Closed Lower as Weekly Momentum Slows...Energy, Consumer Discretionary Led Sectors...

© 2025

SPX -20.71, 6,260, opened lower traded in a range and closed slightly lower but above its open. 

You can see from the weekly SPX chart, after breaking out to a new high on June 27, last week had upward momentum and this week formed a doji closing today essentially where it opened on Monday. Through Friday, Wednesday’s bull flag bounce produced a +0.27% momentum bounce above the high of the following day on Tuesday.

The NDX -0.21% traded in a range forming a spinning top.  Weakness in TEAM, ADSK, PANW, ZS and CRWD continued from Thursday while selling weakness appeared in PYPL and GILD on Friday.

The DJI, 44,371 -0.63%, a pause day after a bull flag bounce on Wednesday.   

Breadth weakened Friday.

TSLA +3.64, +1.17%, channel bounce continuation.

AVGO -1.02, -0.37%, BO test pattern, HBO setup.

DAL -0.13, -0.23%, gap up pause after a positive EPS reaction. 

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

SPY down 2.20 at 623.62, 63.6 million shares, below average volume

VIX up 0.62 at 16.40,

QQQ down 1.25 at 554.20

UNH, AMZN, CVX, MCD led DJIA, 8 advancers, -12

HAL, CPB, VTR, ANET led SPX, 110 advancers,

MSTR, KHC, CEG, BKR led NDX, 25 advancers,

Up:

Down: QQQ, SPY, DIA, IWM,

The SPY MFC green line is flat at 92.6 and is short-term bullish. -1.1

Two of eleven sectors were higher on Friday led by XLE and XLY.

Uptrend sectors: XLK, XLC, XLI, XLY, XLU, XLF, XLB,

Neutral sectors: XLRE, XLP, XLE, XLV,

Down trend sectors:

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

3-month Intermediate Term Market Trend: Up

3-day Short Term Market Trend: Up a little

25 of 100 NDX stocks closed higher on Thursday.

63 NDX stocks are above their 30 DMA: IDXX, CEG, ADI, AMAT, ARM, AVGO, DDOG, KLAC, LRCX, MCHP, MSFT, SNPS, NVDA, AMD, AMZN, ASML, CSCO, META, MU, ON, CSX, TXN, MRVL, WBD, DASH, SBUX, QCOM, NXPI, CSGP, GFS, BKNG, GEHC, MAR, PCAR, ANSS, GOOGL, AEP, BKR, HON, SNPS, CDNS, FAST, PEP, AAPL, CCEP, LIN, ABNB, AMGN, BIIB, KDP, ODFL, TTD, VRTX, MSTR, REGN, ORLY, PLTR, PDD, CDW, KHC, EXC, FANG, XEL,

NDX Stocks to Watch on Monday:

Moving Above 30 DMA = 0

Moving Below 30 DMA = 9

AZN, CHTR, CMCSA, CRWD, DXCM, GILD, MDB, NFLX, PYPL,

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SPX Inches to All-time High...NDX Closed Slightly Lower...TSLA Led NDX...Consumer Disrectionary, Utilities, Energy Led Sectors...DAL Takes Off on Positive EPS Reaction...

© 2025

SPX +17.20, 6,280, opened higher trended up and closed at a new all-time high, one-point above its high on July 3. 

Three Fed speakers spoke on Thursday, and their comments continue to indicate that Fed members have shifted from being data dependent, as they have repeatedly stated they were over the past ten years, to being forecast dependent when they began to say that they expect inflation to rise from tariffs.  Mary Daly indicated in comments today that waiting for inflation to rise could leave the Fed behind on cutting rates.  This point of view seems to be gaining traction as just yesterday Piper Sandler indicated that lower rates were appropriate at this time.

The NDX -0.16% traded in a range after weakness in TEAM, AXON, FTNT, ADSK, PANW, ZS and CRWD offset gains in TSLA, AMD and leading stocks.

The DJI, 44,650 +0.43%, continued in a bull flag bounce.   

Breadth continued positive Thursday.

TSLA +13.99, +4.73%, bounce continuation forming a white candle.

AVGO -2.50, -0.90%, opened higher, pulled back in a BO test pattern.

DAL +6.08, +11.99%, gapped up on a positive EPS reaction before the open. 

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

SPY up 1.76 at 625.82, 57.3 million shares, below average volume

VIX down 0.16 at 15.78, 3-month closing low

QQQ down 0.80 at 555.45

AXP, MCD, GS, JPM led DJIA, 20 advancers, +4

UAL, DAL, LUV, CZR, EL led SPX, 354 advancers,

TSLA, AMD, ON, SNPS led NDX, 53 advancers,

Up: IWM, DIA, SPY,

Down: QQQ,

The SPY MFC green line is flat at 93.8 and is short-term bullish. -0.3

Nine of eleven sectors were higher on Thursday led by XLY, XLU, and XLE.

Uptrend sectors: XLK, XLC, XLI, XLY, XLU, XLF, XLB,

Neutral sectors: XLRE, XLP, XLE, XLV,

Down trend sectors:

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

3-month Intermediate Term Market Trend: Up

3-day Short Term Market Trend: Up

53 of 100 NDX stocks closed higher on Thursday.

72 NDX stocks are above their 30 DMA: CRWD, NFLX, IDXX, CEG, ADI, AMAT, ARM, AVGO, DDOG, KLAC, LRCX, MCHP, MDB, MSFT, SNPS, NVDA, AMD, AMZN, ASML, CSCO, META, MU, ON, CSX, TXN, MRVL, WBD, DASH, SBUX, QCOM, NXPI, CSGP, GFS, PYPL, BKNG, CMCSA, GEHC, MAR, PCAR, ANSS, GOOGL, AEP, BKR, HON, SNPS, CDNS, CHTR, FAST, GILD, PEP, AAPL, CCEP, LIN, ABNB, AMGN, BIIB, KDP, ODFL, TTD, VRTX, MSTR, REGN, ORLY, PLTR, PDD, CDW, KHC, DXCM, EXC, AZN, FANG, XEL,

NDX Stocks to Watch on Friday:

Moving Above 30 DMA = 3

AZN, FANG, XEL,

Moving Below 30 DMA = 10

ADSK, AXON, CTSH, EA, FTNT, INTU, PANW, TEAM, TTWO, ZS,

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SPX, NDX, DJI Closed Higher...Breadth Remained Positive...Utilities, Industrials, Materials Led Sectors....

© 2025

SPX +37.74, 6,263, open higher bull flag bounce, Fed Minutes Trading Range, close above the high of the following day. 

The NDX +0.72% bull flag bounced to a new intra-day high.

The DJI, 44,458 +0.49%, a bull flag bounce.   

Breadth remained positive Wednesday.

TSLA -1.93, -0.65%, paused forming a red spinning top.

AVGO +6.10, +2.24%, opened higher, closed at a new all-time high. 

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

SPY up 3.72 at 624.06, 66 million shares, below average volume

VIX down 0.87 at 15.94,

QQQ up 3.91 at 556.25

BA, MRK, CAT, NVDA led DJIA, 16 advancers,

AES, PTC, COIN, DHI led SPX, 299 advancers,

MSTR, MDB, VRTX, PLTR led NDX, 58 advancers,

Up: IWM, QQQ, SPY, DIA,

Down:

The SPY MFC green line is flat at 94.1 and is short-term bullish. -0.2

Eight of eleven sectors were higher on Wednesday led by XLU, XLI, and XLB.

Uptrend sectors: XLK, XLC, XLI, XLY, XLU, XLF, XLB,

Neutral sectors: XLRE, XLP, XLE, XLV,

Down trend sectors:

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

3-month Intermediate Term Market Trend: Up

3-day Short Term Market Trend: Sideways

58 of 100 NDX stocks closed higher on Wednesday.

79 NDX stocks are above their 30 DMA: CRWD, NFLX, AXON, IDXX, TTWO, CEG, INTU, ZS, ADI, AMAT, ARM, AVGO, DDOG, KLAC, LRCX, MCHP, MDB, MSFT, SNPS, NVDA, AMD, AMZN, ASML, CSCO, META, MU, ON, CSX, TXN, MRVL, WBD, DASH, PANW, SBUX, QCOM, NXPI, CSGP, EA, ADSK, GFS, PYPL, BKNG, CMCSA, GEHC, MAR, PCAR, ANSS, GOOGL, AEP, BKR, HON, SNPS, CDNS, CHTR, FAST, GILD, PEP, AAPL, CCEP, LIN, ABNB, AMGN, BIIB, CTSH, KDP, ODFL, TEAM, TTD, VRTX, MSTR, REGN, FTNT, ORLY, PLTR, PDD, CDW, KHC

NDX Stocks to Watch on Thursday:

Moving Above 30 DMA = 2

DXCM, EXC,

Moving Below 30 DMA = 3

FANG, MDLZ, TMUS,

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Trading Range Tuesday as SPX, NDX Mixed...Energy, Materials, Technology Led Sectors...

© 2025

SPX -4.46, 6,225, opened higher, traded in a range closed near unchanged. 

NDX +0.07% formed an inside day, closed slightly higher.

DJI, 44,240 -0.37%, opened lower, traded in a range, closed lower, formed an inside day. 

Breadth strengthened on Tuesday.

TSLA +3.87, +1.32%, bounced above Monday’s gap down high.

AVGO -2.38, -0.87%, opened higher, closed lower on Tuesday. 

SPY down 0.34 at 620.34, 59 million shares, below average volume

VIX down 0.98 at 16.81,

QQQ up 0.31 at 552.34

Up: IWM, QQQ,

Down: SPY, DIA,

The SPY MFC green line is pointed down at 94.3 and is counter-trend defensive. -0.4

Four of eleven sectors were higher on Tuesday led by XLE, XLB, and XLK.

Uptrend sectors: XLK, XLC, XLI, XLY, XLU, XLF, XLB,

Neutral sectors: XLRE, XLP, XLE, XLV,

Down trend sectors:

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

3-month Intermediate Term Market Trend: Up

3-day Short Term Market Trend: Sideways

60 of 100 NDX stocks closed higher on Tuesday.

80 NDX stocks are above their 30 DMA: CRWD, NFLX, AXON, IDXX, TTWO, CEG, INTU, ZS, ADI, AMAT, ARM, AVGO, DDOG, KLAC, LRCX, MCHP, MDB, MSFT, SNPS, NVDA, AMD, AMZN, ASML, CSCO, META, MU, ON, CSX, TXN, MRVL, WBD, DASH, PANW, SBUX, QCOM, NXPI, CSGP, EA, ADSK, MDLZ, GFS, PYPL, BKNG, CMCSA, GEHC, MAR, PCAR, ANSS, GOOGL, AEP, BKR, HON, SNPS, CDNS, CHTR, FAST, GILD, PEP, AAPL, CCEP, LIN, TMUS, ABNB, AMGN, BIIB, CTSH, KDP, ODFL, TEAM, TTD, VRTX, MSTR, REGN, FTNT, ORLY, PLTR, PDD, CDW, FANG, KHC

NDX Stocks to Watch on Wednesday:

Moving Above 30 DMA = 3

CDW, FANG, KHC,

Moving Below 30 DMA = 2

EXC, MELI,

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SPX, NDX Closed Lower...Energy Led Sectors as Breadth Weakened...

© 2025

SPX -49.37, 6,229, opened lower after the three-day holiday weekend. 

The NDX -0.79% closed below Thursday’s low.

The DJI, 44,406 -0.94%, pulled back and closed below Thursday’s low.   

Breadth weakened on Monday.

TSLA -21.41, -6.79%, gapped down after Musk said he would start a third political part in the US and traded in a range on Monday.

AVGO -1.00, -0.36%, opened flat and traded in a range on Monday.  

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

SPY down 4.66 at 620.68, 51 million shares, below average volume

VIX up.31 at 17.79,

QQQ down 4.19 at 552.03

TSCO, PLTR, DASH, UBER led SPX, 95 advancers,

PLTR, DASH, CEG, BKNG, PDD led NDX, 23 advancers,

Up:

Down: SPY, QQQ, DIA, IWM

The SPY MFC green line turned down at 96 and is counter-trend defensive. -1.5

One of eleven sectors was higher on Monday led by XLE and XLP.

Uptrend sectors: XLK, XLC, XLI, XLY, XLU, XLF, XLB,

Neutral sectors: XLRE, XLP, XLE, XLV,

Down trend sectors:

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

3-month Intermediate Term Market Trend: Up

3-day Short Term Market Trend: Up a little

23 of 100 NDX stocks closed higher on Monday.

79 NDX stocks are above their 30 DMA: CRWD, NFLX, AXON, IDXX, TTWO, CEG, INTU, ZS, ADI, AMAT, ARM, AVGO, DDOG, KLAC, LRCX, MCHP, MDB, MSFT, SNPS, NVDA, AMD, AMZN, ASML, CSCO, META, MU, ON, CSX, TXN, MRVL, WBD, DASH, PANW, SBUX, QCOM, NXPI, CSGP, EA, ADSK, MDLZ, GFS, PYPL, BKNG, CMCSA, GEHC, MAR, PCAR, ANSS, GOOGL, AEP, BKR, HON, SNPS, CDNS, CHTR, FAST, GILD, PEP, AAPL, CCEP, LIN, TMUS, ABNB, AMGN, BIIB, CTSH, KDP, ODFL, TEAM, TTD, VRTX, MSTR, REGN, EXC, FTNT, MELI, ORLY, PLTR, PDD,

NDX Stocks to Watch on Tuesday:

Moving Above 30 DMA = 1

PDD,

Moving Below 30 DMA = 4

CDW, ISRG, KHC, ROP,

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SPX, NDX All-time Closing High...Energy, Materials, Technology Led Sectors...Happy July 4th...May the Fourth Be With You...

© 2025

Markets are closed on Friday to celebrate July 4 Independence Day! 

Have a great and safe celebration.  We express gratitude for our Founding Fathers and all who have contributed to the preservation of the USA and its, as our Founding Fathers believed, God given unalienable rights of Life, Liberty, and the Pursuit of Happiness.

SPX +51.93, 6,279, opened higher after the Jobs Report was a better-than-expected 147K vs 110K est. and trended up making a new all-time closing high on Thursday. 

The NDX +0.99% closed at a new all-time closing high.

The DJI, 44,828 +0.77%, just short of its January 30 closing high.   

Breadth strengthened on Thursday.

TSLA -0.30, -0.10%, traded in a range.

AVGO +5.28, +1.96%, continued to rise after Tuesday’s breakout test, closing 47 cents short of Monday’s all-time high.  

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

SPY up 4.89 at 625.34, 51 million shares, below average volume

VIX down .26 at 16.38,

QQQ up 5.42 at 556.22

TRV, BA, CSCO, IBM led DJIA, 22 advancers, +9

FSLR, CDNS, SNPS, TPR led SPX, 349 advancers,

DDOG, CDNS, SNPS, ANSS led NDX, 77 advancers,

Up: QQQ, IWM, DIA, SPY

Down:

The SPY MFC green line is flat at 97.5 and is short-term bullish. -0.1

Seven of eleven sectors were higher on Thursday led by XLE, XLB and XLK.

Uptrend sectors: XLK, XLC, XLI, XLY, XLU, XLF, XLB,

Neutral sectors: XLRE, XLP, XLE, XLV,

Down trend sectors:

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

3-month Intermediate Term Market Trend: Up

3-day Short Term Market Trend: Up

77 of 100 NDX stocks closed higher on Thursday.

82 NDX stocks are above their 30 DMA: CRWD, NFLX, AXON, IDXX, TTWO, CEG, INTU, ZS, ADI, AMAT, ARM, AVGO, DDOG, KLAC, LRCX, MCHP, MDB, MSFT, SNPS, NVDA, AMD, AMZN, ASML, CSCO, META, MU, ON, CSX, TXN, MRVL, WBD, DASH, PANW, SBUX, QCOM, NXPI, CSGP, EA, ADSK, MDLZ, GFS, PYPL, BKNG, CMCSA, GEHC, MAR, PCAR, ANSS, GOOGL, AEP, BKR, HON, SNPS, CDNS, CHTR, FAST, GILD, PEP, AAPL, CCEP, CDW, ISRG, LIN, TMUS, ABNB, AMGN, BIIB, CTSH, KDP, KHC, ODFL, TEAM, TTD, VRTX, MSTR, REGN, EXC, FTNT, MELI, ORLY, PLTR, ROP,

NDX Stocks to Watch on Monday:

Moving Above 30 DMA = 6

EXC, FTNT, MELI, ORLY, PLTR, ROP,

Moving Below 30 DMA = 1

FANG,

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SPX All-time Closing High...NDX Recovered Most of Tuesday's Selloff...Energy, Materials, Technology Led Sectors...1 pm ET Early Close on Thursday...Happy Independence Day on Friday...

© 2025

Remember the NYSE closes early at 1 pm ET Thursday and trading is closed on Friday to celebrate July 4 Independence Day!

Jobs Report will be released Thursday morning at 8:30 am ET.

SPX +29.41, 6,227, opened flat and trended up making a new all-time closing high on Wednesday.

The NDX +0.73% closed above Tuesday’s high, bounced in a one-day bull flag pattern which recovered all but 38 points of Tuesday’s selloff.

The DJI, 44,484 -0.02%, paused on Wednesday just short of its January 30 closing high.    

Breadth was mixed but remained positive on Wednesday.

TSLA +14.94, +4.97%, gapped up and formed a hammer candle.

AVGO +5.16, +1.95%, bounced at support on a breakout test formed a piercing line candle.

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

SPY up 2.80 at 620.45, 66.4 million shares, below average volume

VIX down .19 at 16.64,

QQQ up 3.81 at 550.80

NKE, NVDA, AMGN, AAPL led DJIA, 13 advancers, -9

ALB, MRNA, ORCL, COIN led SPX, 285 advancers,

DDOG, MSTR, TSLA, NXPI led NDX, 53 advancers,

Up: IWM, QQQ, SPY

Down: DIA,

The SPY MFC green line is pointed up at 97.6 and is short-term bullish. +0.8

Seven of eleven sectors were higher on Wednesday led by XLE, XLB and XLK.

Uptrend sectors: XLK, XLC, XLI, XLY, XLU, XLF, XLB,

Neutral sectors: XLRE, XLP, XLE, XLV,

Down trend sectors:

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

3-month Intermediate Term Market Trend: Up

3-day Short Term Market Trend: Up

53 of 100 NDX stocks closed higher on Wednesday.

77 NDX stocks are above their 30 DMA: CRWD, NFLX, AXON, IDXX, TTWO, CEG, INTU, ZS, ADI, AMAT, ARM, AVGO, DDOG, KLAC, LRCX, MCHP, MDB, MSFT, SNPS, NVDA, AMD, AMZN, ASML, CSCO, META, MU, ON, CSX, TXN, MRVL, WBD, DASH, PANW, SBUX, QCOM, NXPI, CSGP, EA, ADSK, MDLZ, GFS, PYPL, BKNG, CMCSA, GEHC, MAR, PCAR, ANSS, GOOGL, AEP, BKR, HON, SNPS, CDNS, CHTR, FAST, GILD, PEP, AAPL, CCEP, CDW, ISRG, LIN, TMUS, ABNB, AMGN, BIIB, CTSH, KDP, KHC, ODFL, TEAM, TTD, VRTX, FANG, MSTR, REGN,

NDX Stocks to Watch on Wednesday:

Moving Above 30 DMA = 3

FANG, MSTR, REGN,

Moving Below 30 DMA = 7

CTAS, EXC, MNST, ORLY, PDD, ROP, VRSK, XEL,

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RUT, DJI Rise, SPX Pauses, NDX Falls on Tuesday...Materials, Health Care, Consumer Staples Led Sectors, Buying Rotation on Tuesday...

© 2025

SPX -6.94, 6,198, traded in a range as an inside day and formed a spinning top after hitting an all-time closing high on Monday.  Tuesday was an atypical trading day, with noticeable buying rotation into Material, Health Care and Staples sectors and selling in Technology and Communication Services sectors.

The DJI, 44,494 +0.91%, rose on Tuesday nearing January 30 closing high.  The NDX -0.89% pulled back from its all-time closing high, forming a one-day bull flag pattern. 

Breadth was mixed but positive on Tuesday.

TSLA -16.95, -5.34%, gapped down and formed a spinning top.

AVGO -10.91, -3.96%, pulled back to previous resistance for a breakout test.

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

SPY down .20 at 617.65, 69.9 million shares, below average volume

VIX up 0.10 at 16.83,

QQQ down 4.65 at 546.99

UNH, AMGN, SHW, MRK led DJIA, 22 advancers, -0

LVS, WYNN, BLDR, PKG, MGM led SPX, 378 advancers, +28

AMGN, ODFL, SBUX, BIIB led NDX, 63 advancers, -13

Up: IWM, DIA,

Down: SPY, QQQ,

The SPY MFC green line is flat at 96.8 and is short-term bullish. -0.2

Nine of eleven sectors were higher on Monday led by XLB, XLV and XLP.

Uptrend sectors: XLK, XLC, XLI, XLY, XLU, XLF, XLB,

Neutral sectors: XLRE, XLP, XLE, XLV,

Down trend sectors:

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

3-month Intermediate Term Market Trend: Up

3-day Short Term Market Trend: Up

63 of 100 NDX stocks closed higher on Tuesday.

83 NDX stocks are above their 30 DMA: CRWD, NFLX, AXON, IDXX, TTWO, CEG, INTU, ZS, ADI, AMAT, ARM, AVGO, DDOG, KLAC, LRCX, MCHP, MDB, MSFT, SNPS, NVDA, AMD, AMZN, ASML, CSCO, META, MU, ON, CSX, TXN, MRVL, WBD, DASH, PANW, SBUX, QCOM, NXPI, CSGP, EA, ADSK, MDLZ, GFS, PYPL, BKNG, CMCSA, GEHC, MAR, PCAR, ANSS, GOOGL, AEP, BKR, HON, SNPS, CDNS, CHTR, FAST, GILD, PEP, AAPL, CCEP, CDW, EXC, ISRG, LIN, TMUS, ABNB, AMGN, BIIB, CTAS, CTSH, KDP, KHC, MNST, ODFL, ORLY, PDD, ROP, TEAM, TTD, VRSK, VRTX, XEL,

NDX Stocks to Watch on Wednesday:

Moving Above 30 DMA = 17

ABNB, AMGN, BIIB, CTAS, CTSH, KDP, KHC, MNST, ODFL, ORLY, PDD, ROP, TEAM, TTD, VRSK, VRTX, XEL,

Moving Below 30 DMA = 5

DXCM, FTNT, MELI, MSTR, PLTR,

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