SPX, NDX, RUT, DJI Closed Lower...After-hours: AKAM, ABNB Positive Reaction...

 

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SPX -13.59, 7,709, pulled back for a second day, remained above Tuesday’s S-1 level and above horizontal resistance.  Closed above 7,700 for a third day.  Closed just 27 points below Tuesday’s all-time closing high.  The SPX breakout joins DJI and RUT breakouts above June highs. 

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

EPS reactions on Thursday:

WDC -67.65, -13.03%, EPS $3.56 beats $3.29 estimate, sales $3.747B beat $3.692B estimate.

SNDK -91.92, -6.81%, EPS $39.25 beats $34.45 estimate, sales $8.965B beat $8.394B estimate.

SPX advancers: MSI PH LDOS PTC ALB APA FOXA PODD OXY LYB ALL.

SPX decliners: APP DDOG AXON WDC VTRS HST TPL SNDK TTD XYZ FICO.

After-hours:

AKAM +14.69, +12.39%, EPS $1.59 beats $1.57 estimate, sales $1.099B beat $1.092B estimate.

ABNB 11.89, +7.84%, EPS $1.37 beats $1.25 estimate, sales $3.608B beat $3.576B estimate.

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Day 18 Q2 Earnings season:

Friday BMO: PPL, TTWO, VST.

Saturday morning: BRK/B.

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SPCX closed at 114.92, +6.14% above average (87.4 million) volume of 255.17 million shares as lock-up expired on 911.5 million shares. Newly traded private shares were absorbed by the buyers, which is positive.  Our view is that SPCX, with no earnings, remains an overvalued speculation.  IPO at 135 on June 12.  

SPY -0.16%, two-day bull flag above Tuesday’s S-1, below average volume of 38.4 million shares.

VIX -0.66, 15.15, second lowest close in three months  

NDX -0.39% two-day bull flag in a channel bounce pause.

DJI, 53,885 -0.85%, bearish engulfing pattern, one-day pullback.

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

Up:

Down: SPY, QQQ, IWM, DIA,

The SPY MFC green line is up at 86.4, price-action paused on Thursday, closed above horizontal resistance for a third day and is short-term bullish. +6.4

Three of eleven sectors were higher on Thursday led by XLE, XLC and XLV. 

43 of 100 NDX stocks closed higher on Thursday.

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

NDX Stocks to Watch on Friday

Moving Above 30 DMA = 1

WBD,

Moving Below 30 DMA = 5

AXON, DDOG, GILD, KHC, NBIS,

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