RUT Closed at a New All-time High...DJI, SPX, NDX Closed Lower...Semiconductors had a Two-day net gain Thursday/Friday...

© 2026

SPX -3.47, 7,354, opened lower, after MU, SNDK, DRAM, SMH, SOXL and semiconductor stocks gave back some of Thursday’s large gains in Thursday’s after-hours and Fridays premarket.   Semiconductor stocks had a two-day net gain for the Thursday/Friday time frame after MU's major EPS beat Wednesday after the close.  

Breadth strengthened as advancers led on both the NYSE and the NASDAQ exchanges by large margins.  VIX closed lower. RUT and IWM closed at new all-time highs.

The charts indicate the four indexes are in an uptrend 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 aren't aware that prices fluctuate continuously and that trends consolidate.  Consolidation does NOT mean the trend is over.

GOOGL will replace VZ in the DJIA Monday, June 29 before the open.

SpaceX, SPCX, closed at 153.23, +0.15%.  Our view is that SPCX with no earnings continues to be an overvalued speculation.  As Ben Graham observed there is intelligent speculation, like there is intelligent investing.  If you choose to speculate do so intelligently.

SPX advancers: MRNA FDS NOW WDAY DDOG VEEV LLY APP BIIB IT GDDY.

SPX decliners: ON WDC STX SNDK FLEX KEYS TXN QCOM EME TER ADI.

SPY -0.72% on above average volume of 71 million shares.

VIX -0.48, 17.56,

NDX -1.09% opened lower, traded in a range and closed lower.DJI, 51,920, -0.09%, closed lower.

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

Up: IWM,

Down: DIA, SPY, QQQ,

The SPY MFC green line is down at 34.8 and price-action closed lower but above ST support and is counter-trend defensive. -7.2

Seven of eleven sectors were higher on Friday led by XLV, XLRE and XLP. 

57 of 100 NDX stocks closed higher on Friday.

50 NDX stocks are above their 30 DMA: MRVL, ARM, AMD, 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, AZN, HON, SBUX, CSX, KHC, ADP, DDOG, MELI, ORLY, PAYX, PYPL, REGN, TRI,

NDX Stocks to Watch on Monday

Moving Above 30 DMA = 8

ADP, DDOG, MELI, ORLY, PAYX, PYPL, REGN, TRI,

Moving Below 30 DMA = 5

ADI, ALNY, STX, TXN, WBD,

Add Comments here: