SPX, NDX, DJI Closed Higher on Channel Bounce Continuation...RUT Closed Lower...Breadth Weakened...Mega-cap Day One Reactions Split...

 

© 2026

SPX +52.09, 7,474, opened and closed higher on Friday.  Mega cap earnings from META, MSFT, AAPL and AMZN split with day one reactions: two positive and two negative.  SPX is back above the middle of its eight-week trading range at 62% of the channel up from its support low.  More than 50% of SPX earnings reports are now completed and six of the original mega caps are complete with NVDA to report on August 26. 

Breadth weakened as decliners led on both the NYSE and the NASDAQ exchanges. 

SPX advancers: AMZN DXCM ETN GOOGL WY VRT COHR ANET FTNT SOLS.

SPX decliners: GDDY CTVA COIN AAPL EIX NXPI SYK TROW LIN MU IP.

AAPL -24.52, -7.35%, EPS $2.02 beats $1.89 estimate, sales $109.417B beat $108.651B estimate. 

AMZN +36.08, +15.32%, EPS $5.75 beats $1.82 estimate, sales $200.606B beat $196.460B estimate.

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Day 14, Q2 Earnings season:

Monday BMO: ECHO, L, MAR, TSN,

Monday AMC: AES, ARE, CLX, FANG, OKE, ON, PLTR, SBAC, TKO, VRTX, WMB,

Q2 First day reaction: +40%

Positive: AMZN, DXCM, ETN, WY, CBOE, ERIE, ARES, MHK, LYB, MTD, FSLR, CVX, BEN, CHD, EME, LRCX, PWR, MSFT, HII, CMG, BAX, WTW, REGN, AVY, EQIX, VLO, YUM, SOLS, PTC, BMY LH, MA, APD, KKR, SBUX, ICE, IP,  GRMN, GEHC, CTSH, APH, EXE, BXP, MDLZ, ADP STX, IEX, F, BIIB, BH, IQV, INCY, SHW, NUE, RCL, PNR BRO KO, BA, UHS, ECL, PYPL, XYL, ITW, PCAR, AMT PFG, CDNS, BKR, SLB, DLR, VRSN, VZ, HCA, LMT, ALLE, URI, TMO, DGX, RTX, CSX, HON, ROP, NSC, UNP, TSCO, PKG, LVS, BX, HAS, MMM, GM, STLD, DPZ, TRV, ABT, JBHT, PLD CFG, USB, UNH, BLK, BNY, CTAS, MTB, PNC, MS, GS, JPM, BAC, = 110

Neutral: AEE, LNT, FRT, SATS, CL, D, XOM, FTNT, MGM, XEL, REG, AWK, V, CBRE, EXR, VRSK, VLTO, BSX, GNRC, TER, JCI, CNP, CMS, CNC, UDR, DTE, CINF, NEE, DECK, KMI, IBM, AVB, EQR, NDAQ, WST, MRSH, WRB, DHI, STT, CAG = 40

Negative: GDDY, CTVA, COIN, AAPL, EIX, SYK, TROW, LIN, MRNA, LYV, ES, AJG, ABBV, CPT, AES, IR, FICO, CHRW, LKQ, NCLH, MO, LHX, META, VTR, MLM, ESS, EG, FTI, ALGN, PSA, HSY, ORLY, HOOD, AOS, EXC, TYL, VICI, CI, MAA, QCOM, BLDR, SO, INVH, TT, AEP,  LII, VRT, MAS, KLAC, FTV, NXPI, PPG, HUM, SWKS, SW, OMC, ETR, GD, WED, PG, ACGL, CSGP, VMC, ODFL, SWK, WM, AON, FE, GLW, CARR, UPS, TXT, SPGI, HUBB, HLT, IVZ, WELL DINO, FFIV, INTC, CHTR, NEM, EW, HIG, TSLA, TMUS, ROL, DOV, GOOGL, GL, CMCSA, LUV, HBAN, CCI, NOW, PCG, TXN NVR, SNA, FCX, AMP, DOW, RJF, DHR, MSCI, HAL, EFX, GPC, SCHW, NOC, SYF, KEY, ISRG, NFLX, RF, FITB, TFC, GE, UAL PGR, ELV, JNJ, C, WFC, FAST = 125

Bold is > +5% or -5%

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SK Hynix ADR, SKHY, closed 143.73, -3.54% on its sixteenth trading day.  IPO was at 149.  SK Hynix is a profitable company with over $65 billion in revenues (larger than SPCX) and $28 billion in annual profit.  The ADR is speculative because as a new IPO it does not have a track record to evaluate. 

SpaceX, SPCX, closed at 108.37, -3.41% formed a red candle.  Our view is that SPCX, with no earnings, is an overvalued speculation.  IPO at 135 on June 12. 

SPY +0.72%, above average volume of 62.4 million shares.

VIX -1.10, 15.99, lowest close since July 15.

NDX +0.60% formed a black candle in a channel bounce continuation.

DJI, 52,485 +0.52%, just 1.08% below its all-time closing high on July 6.

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

Up: SPY, QQQ, DIA,

Down: IWM,

The SPY MFC green line is up at 44.6, price-action closed above the high of the low day and is short-term bullish. +5.0

Four of eleven sectors were higher on Friday led by XLY, XLC and XLE. 

52 of 100 NDX stocks closed higher on Friday.

55 NDX stocks are above their 30 DMA: EA, FAST, PCAR, CCEP, AMGN, CSX, KHC, ADP, MELI, PAYX, PYPL, REGN, CTAS, GILD, PDD, FANG, INTU, ROST, HON, ODFL, NVDA, ADSK, ROP, ADBE, BKNG, FAST, MDLZ, TRI, WDAY, ABNB, AXON. BKR, COST, CPRT, DASH, DDOG, DXCM, IDXX, MSFT, CMCSA, GEHC, MNST, PEP, SBUX, AVGO, CEG, AMZN, CRWD, CSCO, FTNT, GOOGL, MDB, MPWR, ORLY, PANW,

NDX Stocks to Watch on Monday

Moving Above 30 DMA = 9

AMZN, CRWD, CSCO, FTNT, GOOGL, MDB, MPWR, ORLY, PANW,

Moving Below 30 DMA = 5

AAPL, KDP, MSTR, NFLX, TTWO,

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NDX, SPX, RUT, DJI Closed Higher as Technology & Industrials Sectors Led, MSFT Positive Earnings Reaction...Afterhours - AMZN Positivie EPS Reaction...

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SPX +121.48, 7,437, opened and closed higher the day following the myopic and incomplete narratives regarding Wednesday’s FOMC press conference where the FOMC left rates unchanged as expected.  Nine (75%) of the FOMC committee voted to leave rates unchanged.  NDX closed above Monday, Tuesday and Wednesday’s close. 

Breadth strengthened as advancers led on both the NYSE and the NASDAQ exchanges. 

It is worthwhile noting that there were eighteen S&P 500 stocks that increased between +11.3% to +25.99% on Thursday.  The twelve advancers below and CIEN, CMG, MRVL, COHR, STX and INTC were up big.  Of the 18, three from the industrials sector EME, PWR and HII, and one from consumer discretionary CMG.  The rest were from the information technology sector. 

Those silly narratives about technology and AI trades being dead.  It’s the goofy media narratives (that should be buried) from individuals who don’t comprehend the difference between signal and noise.

SPX advancers: SNDK EME MU LRCX PWR MSFT WDC LITE AMAT TER HII AMD.

SPX decliners: FICO CHRW LKQ NCLH MO LHX META IT FDS VRSK ERIE.

META -46.58, -7.95%, missed EPS and beat on sales, a negative earnings reaction

MSFT +60.56, +15.51% had both an earnings and sales beat and a positive earnings reaction

After-hours - AAPL -21.10, -6.33%, EPS $2.02 beats $1.89 estimate, sales $109.417B beat $108.651B estimate. 

AMZN +22.50, +9.55%, EPS $5.75 beats $1.82 estimate, sales $200.606B beat $196.460B estimate.

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Day 13, Q2 Earnings season:

Friday BMO: ABBV. ARES, BEN, CBOE, CHD, CL, CVX, D, ETN, FRT, LIN, LYB, MRNA, TROW, XOM,

Q2 First day reaction: +40%

Positive: EME, LRCX, PWR, MSFT, HII, CMG, BAX, WTW, REGN, AVY, EQIX, VLO, YUM, SOLS, PTC, BMY LH, MA, APD, KKR, SBUX, ICE, IP,  GRMN, GEHC, CTSH, APH, EXE, BXP, MDLZ, ADP STX, IEX, F, BIIB, BH, IQV, INCY, SHW, NUE, RCL, PNR BRO KO, BA, UHS, ECL, PYPL, XYL, ITW, PCAR, AMT PFG, CDNS, BKR, SLB, DLR, VRSN, VZ, HCA, LMT, ALLE, URI, TMO, DGX, RTX, CSX, HON, ROP, NSC, UNP, TSCO, PKG, LVS, BX, HAS, MMM, GM, STLD, DPZ, TRV, ABT, JBHT, PLD CFG, USB, UNH, BLK, BNY, CTAS, MTB, PNC, MS, GS, JPM, BAC, = 96

Neutral: FTNT, MGM, XEL, REG, AWK, V, CBRE, EXR, VRSK, VLTO, BSX, GNRC, TER, JCI, CNP, CMS, CNC, UDR, DTE, CINF, NEE, DECK, KMI, IBM, AVB, EQR, NDAQ, WST, MRSH, WRB, DHI, STT, CAG = 33

Negative: FICO, CHRW, LKQ, NCLH, MO, LHX, META, VTR, MLM, ESS, EG, FTI, ALGN, PSA, HSY, ORLY, HOOD, AOS, EXC, TYL, VICI, CI, MAA, QCOM, BLDR, SO, INVH, TT, AEP,

LII, VRT, MAS, KLAC, FTV, NXPI, PPG, HUM, SWKS, SW, OMC, ETR, GD, WED, PG, ACGL, CSGP, VMC, ODFL, SWK, WM, AON, FE, GLW, CARR, UPS, TXT, SPGI, HUBB, HLT, IVZ, WELL DINO, FFIV, INTC, CHTR, NEM, EW, HIG, TSLA, TMUS, ROL, DOV, GOOGL, GL, CMCSA, LUV, HBAN, CCI, NOW, PCG, TXN NVR, SNA, FCX, AMP, DOW, RJF, DHR, MSCI, HAL, EFX, GPC, SCHW, NOC, SYF, KEY, ISRG, NFLX, RF, FITB, TFC, GE, UAL PGR, ELV, JNJ, C, WFC, FAST = 109

Bold is > +5% or -5%

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SK Hynix ADR, SKHY, closed 149.00, +17.52% on its fifteenth trading day.  IPO was at 149.  SK Hynix is a profitable company with over $65 billion in revenues (larger than SPCX) and $28 billion in annual profit.  The ADR is speculative because as a new IPO it does not have a track record to evaluate. 

SpaceX, SPCX, closed at 112.20, -0.31% formed another red spinning top candle.  Our view is that SPCX, with no earnings, is an overvalued speculation.  IPO at 135 on June 12. 

SPY +1.68%, above average volume of 70.6 million shares.

VIX -3.57, 17.09, reversed last Thursday’s, Monday’s and Wednesday’s gains.

NDX +3.36% formed a white candle that reversed Tuesday and Wednesday’s selloff and closed above the high of the low day on Wednesday.

DJI, 52,208 +1.19%, just 1.78% below its all-time closing high on July 6.

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

Up: QQQ, SPY, IWM, DIA,

Down:

The SPY MFC green line turned up at 39.6, price-action closed above diagonal support from June 9 and 26 and is short-term bullish. +1.2

Five of eleven sectors were higher on Thursday led by XLK, XLI and XLY 

52 of 100 NDX stocks closed higher on Thursday.

51 NDX stocks are above their 30 DMA: EA, FAST, PCAR, CCEP, AMGN, CSX, KHC, ADP, MELI, PAYX, PYPL, REGN, CTAS, AAPL, GILD, PDD, FANG, INTU, ROST, HON, ODFL, NVDA, ADSK, ROP, ADBE, BKNG, FAST, MDLZ, TRI, WDAY, ABNB, AXON. BKR, COST, CPRT, DASH, DDOG, DXCM, IDXX, MSFT, TTWO, CMCSA, GEHC, MNST, PEP, KDP, NFLX, SBUX, AVGO, CEG, MSTR,

NDX Stocks to Watch on Friday

Moving Above 30 DMA = 3

AVGO, CEG, MSTR,

Moving Below 30 DMA = 3

EXC, MAR, ORLY,

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For What It's Worth...

© 2026

Some of the narratives created on Wednesday don’t meet logic tests.  They sound plausible but they don’t offer supporting facts, just opinions.  In evaluation of information we ask, "is there vague or ambiguous language?"  An analytical mind would say, "show me the evidence."  

You can decide for yourself, but Wednesday’s post-FOMC narratives don’t make sense.  Price action seemed to be market maker induced effects of the microstructure process not the alleged fears being described.  FWIW

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SPX, RUT, NDX, DJI Closed Lower after FOMC Left Rate Unchanged as Expected...Breadth Weakened...META Misses EPS, MSFT Beats...

© 2026

SPX -112.63, 7,316, opened slightly lower, and closed lower after the FOMC meeting where rates were unchanged as expected.  Nine (75%) of the FOMC committee voted to leave rates unchanged.  NDX closed lower below seven-week support. 

Breadth weakened decliners led on both the NYSE and the NASDAQ exchanges.

SPX advancers: GRMN GEHC CTSH SBAC INTU IT ADBE DOW DDOG WDAY ACN.

SPX decliners: LII VRT MAS KLAC MU SMCI FLEX COHR AMAT BG BLDR.

META -50.89, -8.66%, EPS miss and sales beat, a negative earnings reaction

MSFT +34.67, +8.88% earnings and sales beat, a positive earnings reaction

AAPL, AMZN report Thursday after market close.

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Day 12, Q2 Earnings season:

Thursday BMO: AEP, AOS, APD, AVY, BAX, BLDR, BMY, CI, EME, EXC, FTI, HII, HSY, ICE, IP, KKR, LH, LKQ, MA, MLM, MO, NCLH, PWR, REGN, SO, SOLS, TT, VLO, WTW, XEL, YUM,

Thursday AMC: AAPL, AEE, AES, AJG, AMZN, COIN, CPT, CTVA, DXCM, EIX, ERIE, ES, FSLR, GDDY, IR, LNT, LYV, MHK, MTD, SATS, SYK, WY,

Q2 First day reaction: +40%

Positive: GRMN, GEHC, CTSH, APH, EXE, BXP, MDLZ, ADP STX, IEX, F, BIIB, BH, IQV, INCY, SHW, NUE, RCL, PNR BRO KO, BA, UHS, ECL, PYPL, XYL, ITW, PCAR, AMT PFG, CDNS, BKR, SLB, DLR, VRSN, VZ, HCA, LMT, ALLE, URI, TMO, DGX, RTX, CSX, HON, ROP, NSC, UNP, TSCO, PKG, LVS, BX, HAS, MMM, GM, STLD, DPZ, TRV, ABT, JBHT, PLD CFG, USB, UNH, BLK, BNY, CTAS, MTB, PNC, MS, GS, JPM, BAC, = 73

Neutral: V, CBRE, EXR, VRSK, VLTO, BSX, GNRC, TER, JCI, CNP, CMS, CNC, UDR, DTE, CINF, NEE, DECK, KMI, IBM, AVB, EQR, NDAQ, WST, MRSH, WRB, DHI, STT, CAG = 28

Negative: LII, VRT, MAS, KLAC, FTV, NXPI, PPG, HUM, SWKS, SW, OMC, ETR, GD, WED, PG, ACGL, CSGP, VMC, ODFL, SWK, WM, AON, FE, GLW, CARR, UPS, TXT, SPGI, HUBB, HLT, IVZ, WELL DINO, FFIV, INTC, CHTR, NEM, EW, HIG, TSLA, TMUS, ROL, DOV, GOOGL, GL, CMCSA, LUV, HBAN, CCI, NOW, PCG, TXN NVR, SNA, FCX, AMP, DOW, RJF, DHR, MSCI, HAL, EFX, GPC, SCHW, NOC, SYF, KEY, ISRG, NFLX, RF, FITB, TFC, GE, UAL PGR, ELV, JNJ, C, WFC, FAST = 80

Bold is > +5% or -5%

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SK Hynix ADR, SKHY, closed 126.79, -2.60% on its fourteenth trading day.  IPO was at 149.  SK Hynix is a profitable company with over $65 billion in revenues (larger than SPCX) and $28 billion in annual profit.  The ADR is speculative because as a new IPO it does not have a track record to evaluate. 

SpaceX, SPCX, closed at 112.55, -3.32% formed a red spinning top candle today.  Our view is that SPCX, with no earnings, is an overvalued speculation.  IPO at 135 on June 12. 

SPY -1.54%, above average volume of 70.6 million shares.

VIX +2.45, 20.66,

NDX -2.06% formed a red candle and closed below its June 9 support low and its 8-week sideways consolidation.

DJI, 51,594 -2.19%, fell to ST support on July 23.

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

Up:

Down: SPY, IWM, QQQ, DIA,

The SPY MFC green line is down at 38.4, price-action closed below diagonal support from June 9 and 26 but is still above IT horizontal support and is short-term bearish. -12.8

Two of eleven sectors were higher on Wednesday led by XLE, XLP and XLRE 

39 of 100 NDX stocks closed higher on Wednesday.

51 NDX stocks are above their 30 DMA: EA, FAST, PCAR, CCEP, AMGN, CSX, KHC, ADP, MELI, PAYX, PYPL, REGN, CTAS, AAPL, GILD, PDD, FANG, INTU, ROST, HON, ODFL, NVDA, EXC, ADSK, ROP, ADBE, BKNG, FAST, MDLZ, TRI, WDAY, ABNB, AXON. BKR, COST, CPRT, DASH, DDOG, DXCM, IDXX, MAR, MSFT, ORLY, TTWO, CMCSA, GEHC, MNST, PEP, KDP, NFLX, SBUX,

NDX Stocks to Watch on Thursday

Moving Above 30 DMA = 3

KDP, NFLX, SBUX,

Moving Below 30 DMA = 4

CEG, ODFL, VRTX, XEL,

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DJI, SPX, RUT Closed Higher...NDX Closed Lower as Semiconductor Stocks and Technology Sector Move Lower...

© 2026

SPX +15.60, 7,413, opened lower, formed a piercing candle pattern that closed higher.  NDX closed below seven-week support and formed a hammer. 

Breadth weakened slightly as advancers led on the NYSE and decliners led by just 47 stocks on the NASDAQ exchange.

META, MSFT report Wednesday after market close and AAPL, AMZN report Thursday after market close.

SPX advancers: IQV INCY SHW WDAY ZBRA HCA CRL NUE SOLV CTSH ACN.

SPX decliners: SNDK GLW COHR CARR MU STX LITE DELL AMD AMAT MRVL.

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Day 11, Q2 Earnings season:

Wednesday BMO: ADP, AON, APH, BH, BIIB, BSX, CBRE, CTSH, ETR, FTV, GD, GEHC,  GNRC, GRMN, HUM, IEX, JCI, LII, MAS, ODFL, PG, SW, SWK, VMC, VRSK, VRT, WEC, Wednesday AMC: ALGN, AWK, CHRW, CMG, EG, EQIX, ESS, FICO, FTNT, HOOD, INVH, LHX, LRCX, MAA, META, MGM, MSFT, ORLY, PSA, PTC, QCOM, REG, SBUX, TYL, VICI, VTR,

Q2 First day reaction: +44%

Positive: IQV, INCY, SHW, NUE, RCL, PNR BRO KO, BA, UHS, ECL, PYPL, XYL, ITW, PCAR, AMT PFG, CDNS, BKR, SLB, DLR, VRSN, VZ, HCA, LMT, ALLE, URI, TMO, DGX, RTX, CSX, HON, ROP, NSC, UNP, TSCO, PKG, LVS, BX, HAS, MMM, GM, STLD, DPZ, TRV, ABT, JBHT, PLD CFG, USB, UNH, BLK, BNY, CTAS, MTB, PNC, MS, GS, JPM, BAC, = 60

Neutral: CNP, CMS, CNC, UDR, DTE, CINF, NEE, DECK, KMI, IBM, AVB, EQR, NDAQ, WST, MRSH, WRB, DHI, STT, CAG = 19

Negative: GLW, CARR, UPS, TXT, SPGI, HUBB, HLT, IVZ, WELL DINO, FFIV, INTC, CHTR, NEM, EW, HIG, TSLA, TMUS, ROL, DOV, GOOGL, GL, CMCSA, LUV, HBAN, CCI, NOW, PCG, TXN NVR, SNA, FCX, AMP, DOW, RJF, DHR, MSCI, HAL, EFX, GPC, SCHW, NOC, SYF, KEY, ISRG, NFLX, RF, FITB, TFC, GE, UAL PGR, ELV, JNJ, C, WFC, FAST = 57

Bold is > +5% or -5%

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SK Hynix ADR, SKHY, closed 130.17, -8.98% on its thirteenth trading day.  IPO was at 149.  SK Hynix is a profitable company with over $65 billion in revenues (larger than SPCX) and $28 billion in annual profit.  The ADR is speculative because as a new IPO it does not have a track record to evaluate. 

News on Tuesday about China’s development of DUV technology contributed to a decline in semiconductor stocks.  BofA issued a note that it believes the ASML price decline was overdone.  Our research suggests that China’s DUV technology capacity through 2027 would likely only be equivalent to about 20% of ASML’s expected production.

SpaceX, SPCX, closed at 116.41, +2.56% formed a bullish engulfing candle today.  Our view is that SPCX, with no earnings, is an overvalued speculation.  IPO at 135 on June 12. 

SPY +0.24%, below average volume of 46.9 million shares.

VIX -0.46, 18.21,

NDX -0.98% formed a hammer candle below its June 9 support low and its 8-week sideways consolidation.

DJI, 52,747 +1.03%, rose and closed near its all-time closing high on July 6.

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

Up: DIA, SPY, IWM,

Down: QQQ,

The SPY MFC green line is down at 51.2, price-action closed slightly above its July 8 ST support and is defensive. -5.7

Seven of eleven sectors were higher on Tuesday led by XLV, XLP and XLC 

59 of 100 NDX stocks closed higher on Tuesday.

52 NDX stocks are above their 30 DMA: EA, FAST, PCAR, CCEP, AMGN, CSX, KHC, ADP, MELI, PAYX, PYPL, REGN, CTAS, AAPL, GILD, PDD, FANG, INTU, NVDA, ROST, HON, ODFL, CEG, NVDA, EXC, XEL, ADSK, ROP, ADBE, BKNG, FAST, MDLZ, TRI, WDAY, ABNB, AXON. BKR, COST, CPRT, DASH, DDOG, DXCM, IDXX, MAR, MSFT, ORLY, TTWO, CMCSA, GEHC, MNST, VRTX, PEP,

NDX Stocks to Watch on Wednesday

Moving Above 30 DMA = 5

CMCSA, GEHC, MNST, VRTX, PEP,

Moving Below 30 DMA = 1

PLTR,

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RUT, DJI, SPX Closed Higher...Breadth Strengthened...Earnings Week 3: META, MSFT, AAPL, AMZN to report...

© 2026

SPX +1.20, 7,413, opened and closed higher, formed an black candle pattern that closed slightly higher.  NDX closed just below seven-week support for a second day. 

META, MSFT, AAPL, AMZN report Wednesday and Thursday...

Breadth strengthened as advancers led on both the NYSE and the NASDAQ exchange.

SPX advancers: WDAY ADSK EXPE PLTR NOW CHTR DASH CPRT TYL CRM BKR.

SPX decliners: SNDK LITE CHRW TPL AMD NVDA FDXF TRGP LRCX FANG WMB.

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Day 10, Q2 Earnings season:

Tuesday BMO: AMT, BA, CARR CMS, CNC, CNP, DINO, DTE, ECL, GLW HLT HUBB INCY IQV, ITW, IVZ, KO, PCAR, PNR, PYPL, RCL, SHW, SPGI, TXT, UPS, XYL, Tuesday AMC: ACGL, BXP, CSGP, EA EXE, EXR , F, FE, KLAC, MDLZ, NXPI, OMC, PPG, STX, SWKS, TER, V, VLTO, WM

Q2 First day reaction: +42%

Positive: BKR, SLB, DLR, VRSN, VZ, HCA, LMT, ALLE, URI, TMO, DGX, RTX, CSX, HON, ROP, NSC, UNP, TSCO, PKG, LVS, BX, HAS, MMM, GM, STLD, DPZ, TRV, ABT, JBHT, PLD CFG, USB, UNH, BLK, BNY, CTAS, MTB, PNC, MS, GS, JPM, BAC, = 42

Neutral: NEE, DECK, KMI, IBM, AVB, EQR, NDAQ, WST, MRSH, WRB, DHI, STT, CAG = 13

Negative: INTC, CHTR, NEM, EW, HIG, TSLA, TMUS, ROL, DOV, GOOGL, GL, CMCSA, LUV, HBAN, CCI, NOW, PCG, TXN NVR, SNA, FCX, AMP, DOW, RJF, DHR, MSCI, HAL, EFX, GPC, SCHW, NOC, SYF, KEY, ISRG, NFLX, RF, FITB, TFC, GE, UAL PGR, ELV, JNJ, C, WFC, FAST = 46

Bold is > +5% or -5%

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SK Hynix ADR, SKHY, closed 143.02, -7.47% on its twelfth trading day.  IPO was at 149.  SK Hynix is a profitable company with over $65 billion in revenues (larger than SPCX) and $28 billion in annual profit.  The ADR is speculative because as a new IPO it does not have a track record to evaluate.

SpaceX, SPCX, closed at 113.50, -1.36%. made a new low today.  Our view is that SPCX, with no earnings, is an overvalued speculation.  IPO at 135 on June 12. 

SPY +0.02%, below average volume of 41.4 million shares.

VIX +0.09, 18.67,

NDX -0.32% closed just below its June 9 support low, in its 7-week sideways consolidation.

DJI, 52,210 +0.51%, rose and closed above its 30 DMA.

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

Up: IWM, DIA, SPY,

Down: QQQ,

The SPY MFC green line is down at 56.9, price-action closed at its July 8 ST support and is defensive. -1.8

Seven of eleven sectors were higher on Monday led by XLP, XLY and XLC 

65 of 100 NDX stocks closed higher on Monday.

48 NDX stocks are above their 30 DMA: EA, FAST, PCAR, CCEP, AMGN, CSX, KHC, ADP, MELI, PAYX, PYPL, REGN, CTAS, AAPL, GILD, PDD, FANG, INTU, NVDA, ROST, HON, ODFL, CEG, NVDA, EXC, XEL, ADSK, ROP, ADBE, BKNG, FAST, MDLZ, TRI, WDAY, ABNB, AXON. BKR, COST, CPRT, DASH, DDOG, DXCM, IDXX, MAR, MSFT, ORLY, PLTR, TTWO,

NDX Stocks to Watch on Tuesday

Moving Above 30 DMA = 14

ABNB, AXON. BKR, COST, CPRT, DASH, DDOG, DXCM, IDXX, MAR, MSFT, ORLY, PLTR, TTWO,

Moving Below 30 DMA = 2

AEP, PANW,

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DJI, SPX Closed Higher...RUT, NDX Closed Lower...Earnings Season Day 9 Continues...

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SPX +3.68, 7,411, opened and closed lower, formed an inverted hammer top candle pattern that closed just below short-term support.  SPY formed a spinning top and 742.56 will be the high of the low day, if Monday bounces above Thursday’s high. 

Breadth strengthened as advancers led on the NYSE and decliners led on the NASDAQ exchange.

SPX advancers: IP SW SLB DLR PKG NOW VRSN GDDY ADBE ACN VZ.

SPX decliners: SNDK COHR CHRW LITE INTC WST FLEX MRVL MU WDC STX.

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Day 9, Q2 Earnings season:

Monday BMO: BKR, Monday AMC: BRO, CDNS, CINF, FFIV, NUE, PFG, UDR, UHS, WELL

Q2 First day reaction: +41%

Positive: SLB, DLR, VRSN, VZ, HCA, LMT, ALLE, URI, TMO, DGX, RTX, CSX, HON, ROP, NSC, UNP, TSCO, PKG, LVS, BX, HAS, MMM, GM, STLD, DPZ, TRV, ABT, JBHT, PLD CFG, USB, UNH, BLK, BNY, CTAS, MTB, PNC, MS, GS, JPM, BAC, = 41

Neutral: NEE, DECK, KMI, IBM, AVB, EQR, NDAQ, WST, MRSH, WRB, DHI, STT, CAG = 13

Negative: INTC, CHTR, NEM, EW, HIG, TSLA, TMUS, ROL, DOV, GOOGL, GL, CMCSA, LUV, HBAN, CCI, NOW, PCG, TXN NVR, SNA, FCX, AMP, DOW, RJF, DHR, MSCI, HAL, EFX, GPC, SCHW, NOC, SYF, KEY, ISRG, NFLX, RF, FITB, TFC, GE, UAL PGR, ELV, JNJ, C, WFC, FAST = 46

Bold is > +5% or -5%

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SK Hynix ADR, SKHY, closed 154.57, -8.81% on its eleventh trading day.  IPO was at 149.  SK Hynix is a profitable company with over $65 billion in revenues (larger than SPCX) and $28 billion in annual profit.  The ADR is speculative because as a new IPO does not have a track record to evaluate.

SpaceX, SPCX, closed at 115.07, -2.68%. Our view is that SPCX, with no earnings, is an overvalued speculation.  IPO at 135 on June 12. 

SPY +0.10%, below average volume of 44.7 million shares.

VIX -0.12, 18.58,

NDX -1.15% closed just below its June 9 support low, in its 7-week sideways consolidation.

DJI, 51,711 +0.46%, rose and closed below its 30 DMA.

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

Up: DIA, SPY,

Down: IWM, QQQ,

The SPY MFC green line is down at 58.7, price-action closed below, its July 8 ST support and is defensive. -5.5

Ten of eleven sectors were higher on Friday led by XLRE, XLB and XLP 

55 of 100 NDX stocks closed higher on Friday.

36 NDX stocks are above their 30 DMA: PANW, EA, FAST, PCAR, CCEP, AMGN, CSX, KHC, ADP, MELI, PAYX, PYPL, REGN, CTAS, AAPL, GILD, PDD, FANG, INTU, NVDA, ROST, HON, ODFL, CEG, NVDA, EXC, XEL, ADSK, AEP, ROP, ADBE, BKNG, FAST, MDLZ, TRI, WDAY,

NDX Stocks to Watch on Monday

Moving Above 30 DMA = 6

ADBE, BKNG, FAST, MDLZ, TRI, WDAY,

Moving Below 30 DMA = 4

AMD, AVGO, LITE, META,  

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