SPX, NDX Close Higher...Industrials, Financial, Health Care Led Sectors...NVDA reports EPS Wednesday AMC...

© 2025

SPX +26.62, 6,465, opened flat, traded in a range for about two hours and trended up into the close.  Breadth strengthened from Mondy in advancers, indexes and advancing capital.

NDX +0.43%, a bull flag bounce continuation closed higher.

DJI, 45,418, +0.30%, bull flag setup led by strength in GS, BA and AXP.

NVDA +1.96, +1.09%, BO setup, reports EPS Wednesday AMC.

AVGO +3.78, +1.28%, is a bull flag bounce continuation.

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

SPY up 2.69 at 645.16, 51.5 million shares, below average volume,

VIX down .17 at 14.62

QQQ up 2.29 at 572.61

BA, CSCO, AXP, GS led DJIA, 13 advancers, +10

LLY, GEV, BA, HWM, LUV led SPX, 256 advancers,

APP, REGN, MSTR, PLTR led NDX, 51 advancers,

Up: IWM, SPY, QQQ, DIA,

Down:

The SPY MFC green line is up at 82 short-term bullish. +3.5

Seven of eleven sectors were higher on Tuesday led by XLI, XLF and XLV. 

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

Neutral sectors: XLP, XLE, XLV, XLRE,

Down trend sectors:

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

3-month Intermediate Term Market Trend: Up

3-day Short Term Market Trend: Up

51 of 100 NDX stocks closed higher on Tuesday.

49 NDX stocks are above their 30 DMA: GOOGL, AEP, FAST, PEP, ORLY, PDD, BKR, ROST, TMUS, APP, AZN, EA, VRTX, IDXX, LIN, AAPL, MNST, MU, CPRT, REGN, ASML, BIIB, INTC, NXPI, BKNG, EXC, ADI, TXN, CMCSA, AMZN, FANG, GEHC, LRCX, MAR, MELI, META, NVDA, ODFL, PANW, PCAR, QCOM, TSLA, TTWO, NFLX, AVGO, AXON, CSCO, DASH, GILD,

NDX Stocks to Watch on Wednesday:

Moving Above 30 DMA = 5

AVGO, AXON, CSCO, DASH, GILD,

Moving Below 30 DMA = 4

ADBE, CDNS, MCHP, XEL,

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SPX, NDX Lower Close after Friday's Strong Rally, DJI Tests Friday's NH Breakout...Energy, Communication Services Led Sectors...NVDA Reports EPS Wednesday AMC...

© 2025

SPX -27.59, 6,439, a modest 28% retracement of Friday’s 96-point rally and closed above Friday’s S-1 level.  SPY volume was 39% lower on Monday from Friday.  Breadth was weaker as advancers declined on the exchanges and in the indexes from Friday’s very high numbers.

NDX -0.31%, a bounce pause day remained above the HOLD in its bull flag bounce.

DJI, 45,282, -0.77%, BO test to Friday’s S-1 level with led by weakness in SHW, AMGN, TRV and HD.

NVDA +1.82, +1.02%, BO setup reports EPS Wednesday AMC.

AVGO +0.23, +0.08%, is a bull flag bounce continuation.

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

SPY down 2.84 at 642.47, 51.2 million shares, below average volume,

VIX up 0.57 at 14.79

QQQ down 1.65 at 570.32

NVDA, NKE, CVX led DJIA, 3 advancers, -22

DECK, WYNN, APA, STX led SPX, 99 advancers,

APP, TSLA, FANG, TTWO led NDX, 20 advancers,

Up:

Down: QQQ, SPY, DIA, IWM,

The SPY MFC green line turned flat at 78.5 (below 80), short-term bullish. -0.7

Two of eleven sectors were higher on Monday led by XLE, XLC and XLY. 

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

Neutral sectors: XLP, XLE, XLV, XLRE,

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

20 of 100 NDX stocks closed higher on Monday.

48 NDX stocks are above their 30 DMA: GOOGL, AEP, CDNS, FAST, PEP, ORLY, XEL, PDD, BKR, ROST, TMUS, APP, AZN, EA, VRTX, IDXX, LIN, AAPL, MNST, MU, CPRT, REGN, ASML, BIIB, INTC, NXPI, BKNG, EXC, ADI, TXN, CMCSA, ADBE, AMZN, FANG, GEHC, LRCX, MAR, MCHP, MELI, META, NVDA, ODFL, PANW, PCAR, QCOM, TSLA, TTWO, NFLX,

NDX Stocks to Watch on Tuesday:

Moving Above 30 DMA = 1

NFLX,

Moving Below 30 DMA = 6

ADP, AXON, CSGP, GILD, KDP, KHC,

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DJI Broke Out to All-time Closing High...SPX, NDX Resume Uptrend as Breadth Strengthens...Consumer Discretionary, Energy, Basic Materials Led Sectors...Trend Resumes on Jackson Hole Speech...

© 2025

SPX +96.74, 6,466, opened higher, and moved higher before and during Jerome Powell’s twenty-minute Jackson Hole speech.  The market reaction suggests that the speech was viewed as being dovish, while I viewed it as being a positive review of current circumstances.  Technology stocks XLK rallied 1.36% in making a channel bounce close above the high of Wednesday’s low day.

Volume was higher and breadth was significantly stronger on Friday.

NDX +1.46%, closed above the HOLD in its bull flag pattern.

DJI, 45,631, +1.89%, broke out to a new all-time closing high led by GS, CAT and HD.

NVDA +3.01, +1.72%, formed bullish engulfing candle in a bull flag bounce.

AVGO +4.40, +1.52%, is a bull flag bounce, close above the HOLD.

Recent IPOs: AMBQ +3.94%, FIG +6.24%, FLY -0.35%, and BLSH +1.46%.

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

SPY up 9.76 at 645.31, 84.0 million shares, above average volume,

VIX down 2.38 at 14.22

QQQ up 8.69 at 571.97

CAT, HD, GS, AXP led DJIA, 25 advancers, +18

ENPH, BLDR, MHK, NCLH led SPX, 423 advancers,

ODFL, ON, TSLA, MSTR led NDX, 81 advancers,

Up: IWM, DIA, QQQ, SPY,

Down:

The SPY MFC green line turned up at 79.2 (below 80), short-term bullish. +1.0

Ten of eleven sectors were higher on Friday, XLP was unchanged led by XLY, XLE and XLB.  Consumer Discretionary stocks TSLA, RCL, DHI, MAR, HD and AMZN led XLY.

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

Neutral sectors: XLP, XLE, XLV, XLRE,

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

81 of 100 NDX stocks closed higher on Friday.

53 NDX stocks are above their 30 DMA: GOOGL, AEP, CDNS, FAST, PEP, ORLY, XEL, PDD, BKR, ROST, TMUS, APP, AZN, EA, VRTX, IDXX, LIN, AAPL, KDP, MNST, GILD, MU, CPRT, REGN, ASML, BIIB, INTC, NXPI, ADP, BKNG, EXC, ADI, TXN, CMCSA, ADBE, AMZN, AXON, CSGP, FANG, GEHC, KHC, LRCX, MAR, MCHP, MELI, META, NVDA, ODFL, PANW, PCAR, QCOM, TSLA, TTWO,

NDX Stocks to Watch on Monday:

Moving Above 30 DMA = 19

ADBE, AMZN, AXON, CSGP, FANG, GEHC, KHC, LRCX, MAR, MCHP, MELI, META, NVDA, ODFL, PANW, PCAR, QCOM, TSLA, TTWO,

Moving Below 30 DMA = 2

COST, CSX,  

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SPX, NDX Form Inside Day in Bull Flag Price Pattern...Energy, Basic Materials Led Sectors...Powell Jackson Hold Speech 10 am ET Friday...

© 2025

SPX -25.61, 6,370, opened lower, traded in a range, formed an inside day continuing a bull flag price pattern for a potential entry on Friday if it bounces above the high of the low day.  Technology related stocks PLTR, NVDA, AMD, META, TSLA and AVGO also traded in a range and AMD, META, TSLA and AVGO formed inside days.

Volume was lighter and breadth continued mixed on Thursday.

Former Fed staffer Julia Coronado said after the June 2024 FOMC press conference, Powell was “disciplined and vague” and “optimistic and cautious” and “I think we learned very little and that was the intention.”  If you approach Friday’s Jackson Hole Speech at 10:00 am ET with this expectation, you will likely NOT be disappointed.

Before the September 17, 2025, FOMC meeting, there will be another PCE release, a Jobs Report, CPI and PPI releases that will provide additional data for the Fed’s next decision.  If you’re hoping that tomorrow Powell will ignore those releases and tell you what the Fed is going to do in September, you’ll likely be disappointed.

NDX -0.46%, six-day bull flag pattern with an inside day.

DJI, 44,785, -0.34%, a pullback day, also in a bull flag pattern, led by weakness in GS, WMT and HD.

NVDA -0.24, -0.14%, formed a dragonfly doji and is a two-day bull flag setup.

AVGO -3.74, -1.27%, is a bounce setup or a five-day bull flag pattern.

Recent IPOs: AMBQ +3.64%, FIG -1.73%, FLY +2.21%, and BLSH +10.99%.

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

SPY down 2.56 at 635.55, 54.5 million shares, below average volume,

VIX up 0.91 at 16.60

QQQ down 2.62 at 563.28

MRK, CVX, UNH, HON led DJIA, 7 advancers, -13

PSKY, PKG, SW, HPE led SPX, 160 advancers,

PDD, ARM, APP, BKR led NDX, 33 advancers,

Up: IWM,

Down: DIA, SPY, QQQ,

The SPY MFC green line is down at 78.2 (below 80) and is a bull flag setup that is still below the HOLD and above short-term support or the low of the low day, defensive. -6.7

Two of eleven sectors were higher on Thursday led by XLE, XLB and XLC. 

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

Neutral sectors: XLP, XLE, XLV, XLRE,

Down trend sectors:

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

3-month Intermediate Term Market Trend: Up

3-day Short Term Market Trend: Down

33 of 100 NDX stocks closed higher on Thursday.

36 NDX stocks are above their 30 DMA: CSX, GOOGL, AEP, CDNS, FAST, PEP, ORLY, XEL, PDD, BKR, ROST, TMUS, APP, AZN, EA, VRTX, IDXX, LIN, AAPL, COST, KDP, MNST, GILD, MU, CPRT, REGN, ASML, BIIB, INTC, NXPI, ADP, BKNG, EXC, ADI, TXN, CMCSA,

NDX Stocks to Watch on Friday:

Moving Above 30 DMA = 1

CMCSA,  

Moving Below 30 DMA = 6

AMGN, META, NFLX, PCAR, QCOM, TSLA,

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SPX, NDX Closed Lower, Formed Hammer Candles in a Bull Flag Price Patter...Energy, Consumer Staples, Health Care Led Sectors...

© 2025

SPX -15.59, 6,395, opened slightly lower, sold off into a large red candle, rallied into a red hammer set up a bull flag price pattern for a potential entry on Thursday above the high of the low day.  Technology related stocks like PLTR, NVDA, AMD, TSLA and AVGO continued to selloff during the first 90 minutes of trading, when selling exhausted buying took off and SPX began to bounce off of Wednesday’s low. 

For a second day there was noticeable buying in other sectors like consumer staples and health care.  Breadth was mixed on Wednesday.

NDX -0.58%, five-day bull flag pattern with a hammer candle.

DJI, 44,938, +0.04%, trading range pause day, BO setup, near unchanged with strength in TRV and CAT offset by weakness in HD, AAPL and UNH.

NVDA -0.24, -0.14%, formed a dragonfly doji and is a two-day bull flag setup.

AVGO -3.74, -1.27%, is a bounce setup or a five-day bull flag pattern.

Recent IPOs: AMBQ +0.92%, FIG +6.67%, FLY -0.46%, and BLSH +5.68%.

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

SPY down 1.70 at 638.11, 88.7 million shares, above average volume,

VIX up 0.12 at 15.69

QQQ down 3.38 at 565.90

TRV, WMT, CAT, KO led DJIA, 20 advancers, +4

ADI, MCK, PSKY, MDT, FDS led SPX, 259 advancers,

ADI, REGN, MCHP, TXN led NDX, 39 advancers,

Up: DIA,

Down: SPY, IWM, QQQ,

The SPY MFC green line turned down at 84.9 and is counter-trend defensive. -4.9

Seven of eleven sectors were higher on Wednesday led by XLE, XLP and XLV. 

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

Neutral sectors: XLP, XLE, XLV, XLRE,

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: Down a little

39 of 100 NDX stocks closed higher on Wednesday.

41 NDX stocks are above their 30 DMA: CSX, GOOGL, AEP, CDNS, FAST, PEP, ORLY, XEL, PDD, BKR, ROST, TMUS, APP, AZN, META, EA, VRTX, IDXX, LIN, AAPL, COST, TSLA, KDP, MNST, GILD, MU, CPRT, PCAR, REGN, ASML, BIIB, INTC, NXPI, QCOM, NFLX, ADP, BKNG, EXC, ADI, AMGN, TXN,

NDX Stocks to Watch on Thursday:

Moving Above 30 DMA = 3

ADI, AMGN, TXN,  

Moving Below 30 DMA = 10

ADBE, AMD, AMZN, AVGO, CMCSA, DASH, LRCX, NVDA, SNPS, WDAY,

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NDX, SPX Closed Lower, DJI Flat on Tech & Mega Cap Selling...Real Estate, Consumer Staples, Utilities Led Sectors...

© 2025

SPX -37.78, 6,411, opened flat, pulled back and closed lower in a bull flag consolidation price pattern.  Clearly indices and ETFs moved lower in large part due to selling in technology related stocks like PLTR, NVDA, AMD, TSLA, ORCL and AVGO.  There was noticeable buying in other sectors like consumer staples and health care.  Breadth was mixed on Tuesday.

NDX -1.39%, four-day bull flag pattern.

DJI, 44,922, +0.02%, trading range pause day, BO setup, near unchanged with strength in HD and SHW offset by weakness in GS, BA and MSFT.

NVDA -6.37, -3.50%, pulled on Tuesday and is a one-day bull flag pattern.

AVGO -10.85, -3.55%, is a re-BO setup or a four-day bull flag pattern.

PANW +5.39, +3.06%, a positive reaction on EPS, revenue beat and strong guidance, that may be day one of an earnings flag pattern.

Recent IPOs: AMBQ 6.54%, FIG -8.86%, FLY -6.46%, and BLSH -6.09%.

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

SPY down 3.49 at 639.81, 69.3 million shares, average volume,

VIX up 0.58 at 15.57

QQQ down 7.83 at 569.28

HD, SHW, PG, TRV led DJIA, 16 advancers, +0

INTC, PLD, WYNN, PCG led SPX, 355 advancers,

INTC, PANW, ODFL, BIIB led NDX, 47 advancers,

Up: DIA

Down: SPY, IWM, QQQ,

The SPY MFC green line turned down at 89.8 and is counter-trend defensive. -4.2

Eight of eleven sectors were higher on Tuesday led by XLRE, XLP and XLU. 

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

Neutral sectors: XLP, XLE, XLV, XLRE,

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: Down a little

47 of 100 NDX stocks closed higher on Tuesday.

48 NDX stocks are above their 30 DMA: AVGO, NVDA, AMD, CSX, DASH, GOOGL, AEP, SNPS, CDNS, FAST, PEP, ORLY, XEL, PDD, BKR, ROST, TMUS, APP, AZN, META, EA, VRTX, IDXX, LIN, AAPL, COST, TSLA, KDP, MNST, GILD, MU, CPRT, PCAR, REGN, AMZN, ASML, BIIB, INTC, NXPI, QCOM, NFLX, WDAY, ADBE, ADP, BKNG, CMCSA, EXC, LRCX,

NDX Stocks to Watch on Wednesday:

Moving Above 30 DMA = 6

ADBE, ADP, BKNG, CMCSA, EXC, LRCX,

Moving Below 30 DMA = 6

AXON, MDB, MRVL, MSFT, PLTR, TTWO,

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SPX, NDX, DJI Near Unchanged on Light Volume Trading Range...Consumer Discretionary, Industrials, Technology Led Sectors...FOMC Minutes on Wednesday...

© 2025

SPX -0.65, 6,449, opened flat, traded in a range.  Breadth strengthened but remained mixed on Monday. 

NDX +0.01%, three-day bull flag. 

DJI, 44,911 -0.08%, trading range pause day, BO setup, drifted lower by weakness in SHW, HD, AMGN. 

RUT +0.35%, a three-day bull flag pattern.

NVDA +1.56, +0.86%, traded in a range and is an HBO setup.

AVGO -0.58, -0.19%, BO setup.

After-hours: PANW +8.90, +5.05%, a positive reaction on EPS, revenue beat and strong guidance.

FOMC minutes on Wednesday, Powell speaks Jackson Hole on Friday.

Recent IPOs: AMBQ +1.53%, FIG -4.10%, FLY +2.70%, and BLSH -8.87%.

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

SPY down .14 at 643.30, 43.7 million shares, below average volume,

VIX down 0.10 at 14.99

QQQ down 0.23 at 577.11

UNH, CAT, CSCO, DIS led DJIA, 16 advancers, +3

DAY, FSLR, EPAM, RCL led SPX, 231 advancers,

TTD, AXON, MDB, LULU led NDX, 49 advancers,

Up: IWM,

Down: SPY, QQQ, DIA,

The SPY MFC green line is up at 94.2 and is short-term bullish. +.7

Four of eleven sectors were higher on Monday led by XLY, XLI and XLK. 

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

Neutral sectors: XLP, XLE, XLV, XLRE,

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

49 of 100 NDX stocks closed higher on Monday.

48 NDX stocks are above their 30 DMA: AVGO, MSFT, NVDA, AMD, CSX, DASH, GOOGL, AEP, SNPS, CDNS, FAST, PEP, ORLY, PLTR, XEL, PDD, BKR, ROST, TMUS, APP, AZN, META, EA, VRTX, IDXX, MRVL, LIN, AAPL, COST, TSLA, KDP, MNST, GILD, MU, CPRT, PCAR, REGN, TTWO, AMZN, ASML, BIIB, INTC, NXPI, QCOM, NFLX, AXON, MDB, WDAY,

NDX Stocks to Watch on Tuesday:

Moving Above 30 DMA = 3

AXON, MDB, WDAY,     

Moving Below 30 DMA = 4

AMGN, EXC, KHC, MELI,

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SPX, NDX Pause on Weak Semiconductor Stocks...DJI Make Intra-day High on Strength in UNH...Health Care, Real Estate, Communication Services Led Sectors...AMAT EPS Reaction Leads Semis/Tech Stocks Lower...

© 2025

SPX -18.74, 6,449, opened slightly higher, and reversed as AMAT’s -13% negative eps reaction pulled semiconductor and technology stocks lower.  Breadth strengthened but remained negative on Friday.

DJI, 44,946 +0.08%, intraday all-time new high, BO setup, was led higher by strength in UNH, CRM, AMGN.

NDX -0.51%, two-day bull flag. 

RUT -0.49%, a BO test after a YTD closing high two-day bull flag pattern.

NVDA -1.57, -0.86%, traded in a range and is an HBO setup.

AVGO -4.89, -1.57%, BO test.

TPR +5.05, +5.28%, bounced up on Friday and broke out of Thursday’s high after a gap down negative EPS reaction.

AMAT -26.48, -14.07%, a negative EPS reaction on lower guidance.

Recent IPOs: AMBQ +0.50%, FIG +4.08%, FLY -4.03% and BLSH -6.82%.

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

SPY down 1.51 at 643.44, 68.4 million shares, average volume,

VIX up .26 at 15.09

QQQ down 2.55 at 577.34

UNH, CRM, AMGN, MRK led DJIA, 13 advancers, +1

UNH, FSLR, ENPH, CNC, TPR led SPX, 206 advancers,

MDB, PDD, MELI, INTC led NDX, 57 advancers,

Up: DIA,

Down: SPY, QQQ, IWM,

The SPY MFC green line is flat at 93.5 and is short-term bullish. -0.23

Four of eleven sectors were higher, (XLB, XLE unchanged) on Friday led by XLV, XLRE and XLC. 

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

Neutral sectors: XLP, XLE, XLV, XLRE,

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

57 of 100 NDX stocks closed higher on Friday.

49 NDX stocks are above their 30 DMA: AVGO, MSFT, NVDA, AMD, CSX, DASH, GOOGL, AEP, SNPS, CDNS, FAST, PEP, ORLY, PLTR, XEL, PDD, BKR, EXC, ROST, TMUS, APP, AZN, META, EA, VRTX, IDXX, MRVL, LIN, AAPL, COST, TSLA, KDP, MNST, GILD, MU, CPRT, PCAR, REGN, TTWO, AMZN, ASML, BIIB, KHC, INTC, NXPI, QCOM, NFLX, AMGN, MELI, 

NDX Stocks to Watch on Monday:

Moving Above 30 DMA = 2

AMGN, MELI,    

Moving Below 30 DMA = 6

ADI, CSCO, CTAS, KLAC, LRCX, SBUX,

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