©
2025
SPX +53.82, 6,502, opened higher, trended up, closed
higher after a bull flag bounce on Wednesday. A new all-time closing high by .22 of a
point. Breadth strengthened meaningfully
on Thursday.
One headline today
indicated the SPX closed at a new high on “Thursday on hope jobs
report won’t be too cold or hot.” I
find this type of observation to be both questionable and sillier than
the classic fairy tale Goldilocks and the 3 Bears, “not too hot not too cold.”
Seriously, what institutions buy stocks that push
the SPX to a new high because of hope? Thursday’s volume in AMZN alone was 59,391,800
shares. Multiplying the volume by an
average AMZN price of $233.27 per share results in more than $13.8 billion. And
that is just a single stock. Institutions
which use rigorous fundamental, macro and geopolitical analysis
to make decisions, don’t invest tens of billions of dollars across the 500 SPX
stocks on the emotion of hope.
Institutions do
know what the consensus estimate of the Jobs Report and they are willing to
take the risk that an investment on Thursday will earn them a positive return over
the next several days to weeks, it’s not based on hope. Someone observed “hope is not a strategy!” They are right, it’s not.
NDX +0.93%, opened
slightly higher, trended higher and closed higher.
DJI, 45,621, +0.77%, opened
flat, trended up and closed 10 points below it recent all-time high, led by strength
in GS, AMZN and AXP.
NVDA +1.04, +0.61%, opened
flat, traded in a range, formed a spinning top.
AVGO +3.71,
+1.23%, gapped open, traded in a range, formed a spinning top. After the close reported EPS beat, Sales beat,
63% growth in AI sales, raised guidance.
Afterhours: +11.30, +3.69%,
Mega caps AMZN, TSM, META, TSLA, AVGO, BRK/B, GOOGL, NVDA, AAPL,
MSFT rose on Thursday.
SPY up 5.38 at 649.12, 64.9 million shares, average volume,
VIX down 1.05 at 15.30
QQQ up 5.16 at 575.23
AMZN, GS, MMM, AXP led DJIA, 24 advancers, +11
TROW,
WSM, WDC, BLDR, STX the SPX, 364 advancers,
MU, AMZN, CPRT LULU, KLAC led NDX, 70 advancers,
Up: IWM, QQQ, DIA, SPY,
Down:
The SPY
MFC green line turned up at 86.5, short-term bullish. +0.2
Ten
of eleven
sectors were higher on Thursday led by XLY, XLI and XLF.
Uptrend sectors: XLK, XLC, XLY, XLI,
XLF, XLB, XLE, XLU,
Neutral sectors: XLP, 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
70 of 100 NDX stocks closed higher on Thursday.
40 NDX stocks are above their 30
DMA: GOOGL, FAST, PEP, ORLY,
PDD, BKR, ROST, TMUS, APP, AZN, EA, VRTX, IDXX, AAPL, MNST, MU, CPRT, INTC,
NXPI, ADI, CMCSA, PANW, QCOM, TSLA, TTWO, NFLX, MDB, ADSK, WDAY, AVGO, BIIB, ASML,
BKNG, AMZN, DXCM, GEHC, LRCX, LULU, MAR, MELI,
NDX Stocks to Watch on Friday:
Moving Above 30 DMA = 7
AMZN, DXCM, GEHC, LRCX, LULU, MAR, MELI,
Moving Below 30 DMA = 2
CTSH,
TXN,
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