SPX, NDX New All-time Closing High...DJI, RUT Close Higher...Breadth Strengthened...

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Our iBullyBear Mentoring account once again hit a new all-time Net Liq high today on strength in CRWD, MU, DELL, AVL and NVDA on Thursday.  If you are not employing a systematic approach to decision-making in the face of uncertainty and you want to improve your skills contact us through the iBullyBear link above.

SPX +56.99, 7,501, opened higher on the first day of the US/China Summit and reached a new all-time high. Breadth strengthened as advancers led on both the NYSE and NASDAQ exchanges. 

Victor Sperandeo who was highlighted in Schwager’s The New Market Wizards book, wrote: “Many people make the mistake of thinking that market behavior is truly predictable.  Nonsense.  Trading in the markets is an odds game, and the object is to always keep the odds in your favor.” 

In my 40+ years of experience in financial markets, I’ve seen no one that has proven they know the future.  People can guess, but that is not knowing the future.  Guessing and knowing are NOT the same thing.

The technical reality is that the broad market is in a seven-week uptrend.  It is in an uptrend because there is more institutional buying than selling.  Will this uptrend end someday in the future.  Highly probable.  Why?  Because every broad market uptrend in the past was followed by an end to the uptrend. 

No one knows when it will end.  If you don’t want to take risk now.  Go to cash.  If the uptrend continues you won’t receive any reward because you don’t want to take any risk.  That is okay. 

If you do want to earn the potential reward of an uptrend, you must be willing to take the risk.  The saying is “No risk, No reward.”  That is accurate.  Stock/equity investments carry risk.  You can manage risk, intelligently, but you can’t avoid risk if you want the potential rewards. Just decide if you can take the risk.  If you can, fine.  If you can’t or don’t want to, fine.  Just decide.  

Stop your time listening to people who are guessing about the future but pretending they know.  They don’t. They never will.

SPX advancers: CSCO JBHT APP TTWO F HPE APTV AVGO HOOD J ODFL.

SPX decliners: BIIB QCOM CBRE JKHY ALB BA SNDK INTC OMC PSKY MU.

Earnings season is winding down this week with only 10 SPX companies reporting.  Next week retail stocks HD, TGT, TJX, WMT and ROST report.

NVDA +9.91, +4.39%, a new all-time closing high on 180.78 million shares, EPS on May 20 AMC.

MU -27.62, -3.44%, pause, pull-back day.

SPY +0.79%, white candle all-time closing high on below average volume of 45.3 million shares.

VIX -0.61, 17.26, 

NDX +0.73% an all-time closing high.

DJI, 50,063, +0.75% nearing horizontal breakout at resistance.

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

Up: SPY, DIA, QQQ, IWM,

Down:  

The SPY MFC green line is flat at 98.6, price-action is short-term bullish. +0.6 

Seven of eleven sectors (76.6%) were higher on Thursday led by XLK, XLE and XLF. 

55 of 100 NDX stocks closed higher on Thursday.

52 NDX stocks are above their 30 DMA: MRVL, ARM, AMD, CSX, FAST, AMZN, INTC, KLAC, MPWR, STX, WDC, CSCO, ADI, MCHP, TXN, AMAT, AVGO, GOOGL, LRCX, AAPL, MU, NVDA, NXPI, SBUX, MNST, CDNS, QCOM, SNPS, MSFT, MSTR, TTWO, APP, DDOG, PANW, CRWD, FTNT, KDP, TSLA, KHC, MDLZ, ADP, MDB, ZS, ASML, FER, BKR, FANG, LIN, VRTX, COST,

NDX Stocks to Watch on Friday

Moving Above 30 DMA = 0

Moving Below 30 DMA = 1

WBD,

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