NDX, RUT, DJI, SPX Closed Higher...NDX, SPX in 3-week Consolidation...DJI New Intraday High...MU Reports EPS Beyond Expectations...

© 2026

SPX -0.73, 7,357, opened higher, after MU reported an EPS beat with a strong positive reaction which lifted semiconductor stocks, then traded in a range and closed flat.  Breadth was flat as advancers led on the NYSE, and decliners led slightly on the NASDAQ exchange.  VIX closed slightly higher.

The charts indicate the four indexes are in an uprend with NDX and SPX in a 3-week consolidation.  Narratives seem to become more ambiguous whenever major indexes are in consolidation.  It seems as if observers weren't aware that prices fluctuate continuously and that trends consolidate.  Consolidation does NOT mean the trend is over.

Before the open, the PCE report was inline, the GDP report adjusted up to 2.1% and Jobless Claims were better (lower) than expected.

SpaceX, SPCX, closed at 153.00, -1.00%.  Our view is that SPCX with no earnings continues to be a total speculation.  As Ben Graham observed there is intelligent speculation, like there is intelligent investing.  If you choose to speculate do so intelligently.

MU +165.05, +15.74%, reported Wednesday after the close adj. EPS $25.11 beats $20.63 estimate, Sales $41.456B beat $35.590B estimate.

SPX advancers: SNDK TECH MU AMAT GLW TER KLAC RVTY LRCX FLEX CAT.

SPX decliners: AAPL TJX ROST DELL MSCI CTSH AKAM PLTR CPAY COIN NDAQ.

SPY +0.14% on slightly below average volume of 54 million shares.

VIX -0.26, 18.89,

NDX +0.75% traded gapped up, traded in a range and closed higher.

DJI, 51,920, +0.14%, closed higher, hit an all-time intraday high.

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

Up: QQQ, IWM, DIA, SPY,

Down:

The SPY MFC green line is down at 42 and price-action closed above ST support and is short-term bullish. -3.8

Seven of eleven sectors were higher on Thursday led by XLI, XLV and XLB. 

49 of 100 NDX stocks closed higher on Thursday.

47 NDX stocks are above their 30 DMA: MRVL, ARM, AMD, STX, AMAT, LRCX, AAPL, MU, MNST, PANW, CRWD, FTNT, KDP, ASML, KLAC, EA, FAST, PCAR, CCEP, EXC, LIN, BKNG, INTC, WDC, VRTX, FER, ABNB, DASH, TTWO, AEP, AMGN, ALAB, NBIS, TER, AXON, GEHC, ROP, XEL, ALNY, AZN, HON, SBUX, WBD, ADI, CSX, KHC, TXN,

NDX Stocks to Watch on Friday

Moving Above 30 DMA = 4

ADI, CSX, KHC, TXN,

Moving Below 30 DMA = 5

CSCO, MAR, MDLZ, MELI, ROST,

Add Comments here: