Tuesday, August 4, 2026

DJIA, SPX, RUT Make All-time Closing Highs, NDX Closed Higher...Technology Led Sectors...After-hours: AMD, SPCX Negative EPS Reactions...

 
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SPX +136.02, 7,736, broke above horizontal resistance and closed above 7,700 for the first time at a new all-time closing highSPX breakout joins the previous DJI and RUT breakouts above June highs. 

DJIA closed at 54,085, a new all-time closing high.

Breadth was positive as advancers led on both the NYSE and the NASDAQ exchanges. 

SPX advancers: PLTR ZBRA IT MRVL COHR SNDK INTC SMCI TER LDOS GLW.
SPX decliners: APTV NRG CMG VST ARE ROK GWW PLD FANG RVTY HUM.

After-hours: 
ANET +20.99, +10.02%, EPS $1.02 beats $0.89 estimate, sales $3.036B beat $2.818B estimate.
AMD -45.64, -8.80%, EPS $1.66 beats $1.61 estimate, sales $11.536B beat $11.284B estimate.
SPCX -9.35, -7.46%, $(0.09) beats $(0.24) estimate, sales $7.814B beat $6.934B estimate.

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Day 16 Q2 Earnings season:
Wednesday BMO: CDW, COR, CPAY CRL, CVS, DIS, GPN, IRM, KHC, LLY, NI, PODD, PSX, UBER, ZBH,
Wednesday AMC: ALB, ALL, APA, APP, ATO, AXON, CF, CPAY, DASH, EBAY, EXPE, HST, MCK, MET, MSI, NWSA, O, OXY, SNDK, SOLV, STE, TPL, WDC, XYZ
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SpaceX, SPCX, closed at 125.33, +9.43% formed a white candle.  First EPS today AMC.  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 +1.42%, above average volume of 59.9 million shares.
VIX +.64, 16.50, a trader that hedges against large SPX exposure and wants to hedge the potential for a BO test would buy put options.
NDX +3.32% formed another white candle in a channel bounce continuation.
DJI, 54,085 +1.71%, an all-time closing high.


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


Up: QQQ, IWM, SPY, DIA,
Down:

The SPY MFC green line is up at 64.6, price-action broke out, closed above horizontal resistance and is short-term bullish. +9.7

Seven of eleven sectors were higher on Tuesday led by XLK, XLB and XLI. 


82 of 100 NDX stocks closed higher on Tuesday.

61 NDX stocks are above their 30 DMA: EA, FAST, PCAR, CCEP, AMGN, CSX, KHC, ADP, MELI, PAYX, PYPL, REGN, CTAS, GILD, PDD, FANG, 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, ALAB, MSTR, NBIS, SBUX, TER,

NDX Stocks to Watch on Wednesday
Moving Above 30 DMA = 5
ALAB, MSTR, NBIS, SBUX, TER,


Moving Below 30 DMA = 2
PEP, TTWO,



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