NDX Closed Higher...SPX, DJI, RUT Closed Lower...Earning Season Day 5...SPX, NDX Continue 7-week Consolidation...

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SPX -14.41, 7,443, opened higher, traded in a range, closed lower, did not confirm Friday’s inverted hammer candle pattern.  The SPX and NDX continue in their 7-week sideways channels.  Breadth remained negative as decliners led on both the NYSE and NASDAQ exchanges.

Semiconductor stocks moved up slightly on Monday.

SPX advancers: GPN LITE TER AXON MRVL BF/B COHR SNDK DASH LYB CAG.

SPX decliners: ORCL KKR UPS CMG MRNA WBD DELL ARES IP RVTY SOLS.

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Day 5, Q2 Earnings season:

Tuesday morning BMO: DHI, DHR, EFX, GM, GPC, HAL, HAS, KEY, MMM, MRSH MSCI, NOC SCHW, SYF, Tuesday AMC: CB, COF, EQT, IBKR

Q2 First day reaction: +53%

Positive: DPZ, TRV, ABT, JBHT, PLD CFG, USB, UNH, BLK, BNY, CTAS, MTB, PNC, MS, GS, JPM, BAC, = 17

Neutral: STT, CAG = 2

Negative: ISRG, NFLX, RF, FITB, TFC, GE, UAL PGR, ELV, JNJ, C, WFC, FAST = 13

Bold is > +5% or -5%

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SK Hynix ADR, SKHY, closed 151.16, -1.86% on its seventh 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 119.85, -3.34%. Our view is that SPCX, with no earnings, is an overvalued speculation.  IPO at 135 on June 12. 

SPY -0.16%, below average volume of 50.3million shares.

VIX -0.12, 18.65,

NDX +0.04% trading range near support in its 7-week sideways consolidation.

DJI, 51,839 -0.59%, pullback in 3-month up trend.

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

Up: QQQ,

Down: SPY, DIA, IWM,

The SPY MFC green line is down at 69.7, price-action remained above ST support and is defensive. -3.2

Three of eleven sectors were higher on Monday led by XLE, XLC and XLK 

44 of 100 NDX stocks closed higher on Monday.

47 NDX stocks are above their 30 DMA: MNST, PANW, CRWD, FTNT, EA, FAST, PCAR, CCEP, BKNG, VRTX, ABNB, DASH, TTWO, AMGN, AXON, ROP, SBUX, CSX, KHC, ADP, DDOG, MELI, PAYX, PYPL, REGN, CTAS, TRI, AAPL, GILD, WDAY, DXCM, META, PDD, AMZN, TMUS, FANG, INTU, NVDA, PLTR, ADBE, ADSK, IDXX, MSFT, ROST, CMCSA, HON, ODFL,

NDX Stocks to Watch on Tuesday

Moving Above 30 DMA = 0

Moving Below 30 DMA = 2

MDLZ, WBD,

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