DJI Closed at 54,349, an All-time Closing Higher as SPX, RUT, NDX Pause after a Four-day Rally...After-hours: SNDK, WDC Fall...

© 2026

SPX -12.97, 7,723, paused and pulled back above horizontal resistance after a strong four-day rally and closed above 7,700 for a second day, closing just below Tuesday’s all-time closing high.  The SPX breakout joins the previous DJI and RUT breakouts above June highs. 

DJIA closed at 54,349, a new all-time closing high.

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

SPX advancers: CRL IFF AIZ NEM BKNG MCK LLY MAR AMGN CNC PSKY.

SPX decliners: PODD DVA CDW AMD EOG DINO SNDK WDC UBER CVS SBAC.

After-hours: Reports suggesting that SNDK and WDC guidance weren’t strong enough.  

SNDK -107.50, -7.96%, EPS $39.25 beats $34.45 estimate, sales $8.965B beat $8.394B estimate.

WDC -61.17, -11.78%, EPS $3.56 beats $3.29 estimate, sales $3.747B beat $3.692B estimate.

___________________________________________________________________

Day 17 Q2 Earnings season:

Thursday BMO: BDX, CEG, COP, DDOG, EVRG, FISV, FOXA, HWM, KDP, KVUE, PH, RL, SRE, TAP, TRGP, VRTS, WBD, ZTS.

Thursday AMC: ABNB, AFL, AIG, AKAM, ED, GEN MCHP, MNST, RMD, RSG, TTD.

____________________________________________________________________

SPCX, closed at 108.27, -13.61% earning after the close Tuesday $(0.09) beats $(0.24) estimate, sales $7.814B beat $6.934B estimate, but included an increase in AI spending. Private shares lock-up expire on August 6 with at least 911.5 million shares becoming free to trade.  Our view is that SPCX, with no earnings, is an overvalued speculation.  IPO at 135 on June 12. 

SPY -0.20%, a pause day after a four-day advance, below average volume of 44.6 million shares.

VIX -0.69, 15.81,  

NDX -0.83% formed a dark cloud cover in a channel bounce pause.

DJI, 54,349 +0.49%, an all-time closing high.

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

Up: DIA,

Down: SPY, IWM, QQQ,

The SPY MFC green line is up at 80, price-action paused on Wednesday, closed above horizontal resistance for a second day and is short-term bullish. +15.4

Five of eleven sectors were higher on Tuesday led by XLV, XLB and XLY. 

37 of 100 NDX stocks closed higher on Wednesday.

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

NDX Stocks to Watch on Thursday

Moving Above 30 DMA = 1

MPWR,  

Moving Below 30 DMA = 2

ALAB, FANG,

Add Comments here: