SPX Flat after Semi's Downgrade and Apple New Product Event...

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Tech stocks fell and kept the broad market in pause mode as multiple analysts downgraded and lowered estimates in the semiconductor industry including MU.

SPY, and QQQ re-bounced in their bull flag while DIA and IWM remained in bull flag price pattern Wednesday.  Continue to watch for a potential bounce on Thursday.

AMD, CRM, PANW, RNG and AET hit new highs on Wednesday. 

Seven sectors were higher, led by staples XLP +1.16% and energy XLK +0.52%.

The DJIA, closed up 27 points at 25,998 led by strength in BA, CAT, WBA and UNH.  This is the forty-third consecutive close above 25,000 since June 15.

SPY up .07 at 289.12, on 59.7 million shares, 3% above average volume. Up on higher volume.

VIX down .08 at 13.14 

Oil up .39 at 70.30

TLT up .28 at 118.94 on 3.3 million shares. 

WBA +2.39%, BA +2.36%, led the DJIA, 18 advancers, +1.

DISCA +7.68%, AMD +7.01% and MO +6.66%, led the SPX.

TSLA +3.97%, NFLX +3.94%, TMUS +3.05%, and WDC +2.89%, led the NDX.

Intermediate and long term up trend intact.  3-day short term trend is up, bull flag bounce.

Up: DIA, SPY,

Down: IWM, QQQ

Breadth strengthened on Wednesday, as advancers led 1,584 to 1,258 on the NYSE and decliners led 1,565 to 1,372 on the NASDAQ

The SPY MFC green line turned up at 73.49 bullish.  

Uptrend sectors:  XLU, XLV, XLP, XLY, XLK, XLRE, XLI,

Neutral sectors: XLF, XLE, XLB,

Down trend sectors:

The 6-month intermediate and long-term trends are still up.  The three-month trend is now up.  The ten-day trend is sideways.

3-month Intermediate Term Market Trend: Up

3-day Short Term Market Trend: Up

51 of 100 NDX stocks closed higher on Wednesday.

58 NDX stocks are above their 30 DMA.  COST, AMGN, ISRG, AMZN, CHKP, CA, CTAS, ORLY, AAPL, QCOM, PCAR, ROST, XLNX, CSX, SBUX, CMCSA, ILMN, VRSK, SNPS, CSCO, PAYX, WDAY, DISH, FISV, ADP, TTWO, ESRX, REGN, ADSK, NVDA, ADBE, PYPL, INTU, ALGN, CHTR, VRTX, SIRI, SYMC, AVGO, ULTA, MAR, HAS, HSIC, WBA, ATVI, NFLX, AAL, MDLZ, MSFT, TMUS, FAST, CTXS, EBAY, EXPE, IDXX, KHC, LBTYA, SHPG,

NDX Stocks to Watch on Thursday:

Moving Above 30 DMA = 7

CTXS, EBAY, EXPE, IDXX, KHC, LBTYA, SHPG,

Moving Below 30 DMA = 2

CDNS, CTSH,

Intermediate-term trending stocks: 

ADBE, COST, DG, AAPL, AMZN, MA, V, AET, ISRG, PAYX, VRSN, COP, CRM, NTAP, RNG, SQ, UNH, NVDA, ALGN, CHGG, GRUB, TWLO, W, CDNS, PAYC, FISV, NDAQ, LPSN, PSTG, ZUMZ, WIX, SHAK, ETFC, EL, CME, KORS, A, WUBA,

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