TGT Gaps, Moves Higher After Massive EPS Beat...SPX, NDX Pullback from Record Highs after FOMC Minutes...

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NDX -80.39, -0.98%, breakout test pullback after making intraday high as AMZN, TSLA, GOOGL and MSFT pullback.

SPX -14.93, -0.22%, closes at 3374 on a breakout test pullback, after hitting a new all-time intraday high of 3399.54. 

TGT +17.32, +12.65 led the SPX after reporting record revenue & earnings, market share gains and growth in digital customers.

All eleven sectors were lower on Wednesday, led by XLF, XLK and XLI.

Financial leaders:  SCHW, MSCI, STT, WLTW

Technology leaders:  ORCL, KEYS, NTAP, V

Industrials leaders:  NLSN, UAL, TXT, AAL

SPY down -1.41 at 337.23 on 67.9 million shares, above average volume, down on higher volume.

VIX up +1.03 at 22.54

NKE, V, GS led the DJIA, 8 advancers, -3

TGT, AA, FCX, CTL led the SPX, 158 advancers

JD, REGN, MRNA NTAP led the NDX, 22 advancers

The two-year trend term is up.  The one-year trend is up.

Up: IWM,

Down: DIA, SPY, QQQ,

Breadth weakened on Wednesday as decliners led 1,793 to 1,193 on the NYSE and led 1,880 to 1,501 on the NASDAQ

The SPY MFC green line turned down at 95.6, is short-term bullish.  Watch for a potential move below the low of the high day to become counter-trend defensive.  Price action is a BO test pullback below resistance.

Uptrend sectors:  XLI, XLP, XLB, XLY, XLK, XLC, XLV,

Neutral sectors:  XLU, XLRE, XLF, XLE,

Down trend sectors:

The 6-month intermediate trend is sideways.  The ten-day trend is up.

3-month Intermediate Term Market Trend: Up

3-day Short Term Market Trend: Sideways

22 of 100 NDX stocks closed higher on Wednesday.

71 NDX stocks are above their 30 DMA:  AMZN, CDNS, IDXX, NVDA, SWKS, AAPL, FAST, MELI, PYPL, MXIM, LRCX, TTWO,  VRSK, CHKP, COST, MNST, CHTR, CMCSA, CTSH, KHC, PCAR, AMD, CTAS, ISRG, LULU, ORLY, XEL, CPRT, CSX, TCOM, AMAT, QCOM. ROST, SBUX, KLAC, AVGO, FB, MSFT, NXPI, TMUS, DLTR, TXN, ALGN, BKNG, ULTA, MAR, PAYX, CERN, EXPE, ADBE, ANSS, EA, INTU, MSFT, PEP, TSLA, FOXA, FISV, ADI, ADSK, ATVI, DOCU, DXCM, EBAY, GOOGL, NTES, SNPS, WDAY, ZM, MCHP, REGN,

NDX Stocks to Watch on Thursday:

Moving Above 30 DMA = 1

REGN,   

Moving Below 30 DMA = 4

ASML, BIDU, BIIB, SIRI,

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