QQQ Reversal Breakout Leads Six-week Uptrend...MRNA, PYPL Lead NDX, SPX on EPS Reaction... Technology, Discretionary, Communications Services Lead Sectors...

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The SPX +63.98 opened higher, trended up and closed higher.  TLT, GLD, DXY and TNX closed higher, while /CL moved lower.

153 SPX companies report EPS this week:  Mon: GPN, J, L, ON, PKI / AFL, ANET, ATVI, DVA, DVN, FANG, MOS, SBAC, SPG, VNO, WMB/ Tue: AME, CAT, CMI, CNP, DD, ETN, EXPD, HSIC, IDXX, INCY, IPGP, IT, ITW, LDOS, MAR, MPC, PEG, SEE, SPGI, TAP, WAT, WEC, XYL, ZBH, ZBRA / AIZ, AMD, CTRA, CZR, EA, EXR, FMC, GILD, MCHP, MTCH, OXY, PAYC, PEAK, PRU, PXD, PYPL, SBUX, SEDG, STE, VRSK/ Wed: ABC, BWA, CDW, CRL, CVS, DISH, ETR, EXC, GNRC, MRNA, NI, PNW, PPL, REGN, TT UA, UAA, YUM / ALB, ALL, ANSS, APA, ATO, BKNG, CDAY, CLX, DXC, EBAY, FLT, FTNT, HST, IR, LNC, LUMN, MCK, MET, MGM, MRO O, QRVO/ Thu: ABMD, APD, APTV, BALL, BDX, CBRE, CEG, CI, COP, DUK, EPAM, EVRG, FIS, FRT, HII, HWM, ICE, IRM, JCI, K, LLY, NRG, OGN, PARA, PENN, PH, PKI, PWR, SRE, TECH, VMC, WRK, XRAY, ZTS / AEE, AES, AMGN, CTVA, ED, EOG, EXPE, LNT, LYV, MNST, MSI, NLOK, PSA, REG, RSG, SWKS, VRTX, VTR, WBD/ Fri: TRMB, WAB, WDC

First day reactions this week:

Positive: MRNA, PYPL, DISH, CVS, REGN, MCHP, GILD, VRSK, PAYC, SBUX, TT, EXR, EA, UA, BWA, PNW, ETR, FMC, UAA, UBER, PINS, IT, XYL, ZBH, MPC, AFL, AME, DVA, MOS, SBAC, FANG, CMI, PKI, GPN, = 31, QTD = 165

Neutral: CDW, NI, CZR, PPL, CMI, CNP, IDXX WEC, ANET, ETN, PEG, MAR, ATVI

Negative: SEDG, MTCH, AIZ, STE, CRL, GNRC OXY EXC, PXD, ABC, CTRA, YUM, PEAK AMD PRU, TAP, ZBRA, SEE, WAT, INCY, CAT, IPGP, LDOS, EXPD, HSIC, WMB, SPG, DD, VNO, SPGI, DVN, ITW, J, ON, L, = 35, QTD = 116

SPY up 6.39 at 414.45, on 67.8 million shares, below average volume, up on higher volume.

VIX down 1.98 at 21.95

QQQ up 8.56 at 322.89

DIS, AAPL, CRM, MSFT led the DJIA, 25 advancers, +21

MRNA, PYPL, NLOK, DISH, CDAY, CVS led the SPX, 391 advancers

MRNA, PYPL, OKTA, MELI led the NDX 91 advancers

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

Up:  QQQ, SPY, IWM, DIA,

Down:  

Ten of eleven sectors were higher on Wednesday, led by XLK, XLY and XLC.

Technology leaders:  PYPL, NLOK CDAY, MCHP

Consumer Discretionary leaders:  BBWI, ROST, RCL, CCL

Communication Services leaders:  DISH, META, GCI, WBD

Advancers were strengthened on Wednesday as advancers led 2,244 to 972 on the NYSE and led 3,342 to 1,292 on the NASDAQ.

The SPY MFC green line is pointed up at 95.6 and is short-term bullish.  SPY bounced above Monday’s high as the uptrend continued after a two-day pause.

Uptrend sectors:    

Neutral sectors:   XLE, XLU, XLV, XLP, XLK, XLI, XLRE,

Down trend sectors:  XLC, XLY, XLF, XLB,

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

3-month Intermediate Term Market Trend: Down

3-day Short Term Market Trend: Up a little

91 of 100 NDX stocks closed higher on Wednesday.

86 NDX stocks are above their 30 DMA:   MNST, COST, DXCM, OKTA, ORLY, KDP, PEP, VRSK, SIRI, VRSN, AAPL, CDNS, CPRT, IDXX, CTAS, QCOM, TSLA, ADI, ROST, SWKS, TXN, ALGN, AMZN, ATVI, FISV, ISRG, MCHP, MU, NFLX, NXPI, ODFL, SNPS, KLAC, SPLK, ABNB, ADBE, ADP, ADSK, AMAT, AMD, ANSS, ASML, AVGO, CSCO, CSX, EBAY, INTU, LRCX, MAR, MDLZ, MELI, MRVL, NVDA, PAYX, PCAR, PYPL, EA, ILMN, HON, AEP, EXC, XEL, TMUS, BKNG, CRWD, DOCU, GOOGL, LULU, MSFT, OKTA, TEAM, WBA, WDAY, DLTR, FAST, FTNT, CTSH, DDOG, PANW, LCID, ZS, AMGN, BIIB, GILD, META, REGN, ZM,

NDX Stocks to Watch on Thursday:

Moving Above 30 DMA = 6

AMGN, BIIB, GILD, META, REGN, ZM,

Moving Below 30 DMA = 2

MTCH, SGEN,

 

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