SPX Trades Lower as CS News Renews Global Banking Fears...Utilities, Communication Services Lead Sectors...SCHW Finds Support Leads SPX...After-hours: ADBE Gains on EPS...

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-SPX -27.36 gapped lower after news on CS sent financials lower again.

-XLE -5.37%, as /CL -3.25, 68.23 hit a 52-week low.

-VIX closed 2.41 higher.

-PPI Report: Y/Y 4.6%. vs. 5.4% est., M/M -0.1% vs. 0.3% est.

-Core PPI ex-food & energy: Y/Y 4.4%. vs. 5.2% est., M/M 0.0% vs. 0.4% est.

-PPI beat consensus by a wide margin on 4 of 4 categories,

-Housing Starts/Permits Thursday 8:30 am ET BMO.

-After-hours: ADBE +16.99, +5.09% on positive EPS reaction.

 

DXY, TLT and GLD closed higher, while /CL and TNX moved lower.

Mega caps GOOGL, META, MSFT, AMZN, NVDA, AAPL rose and TSLA fell.

SPY down 2.45 at 389.28, on 172.4 million shares, above average volume, down on higher volume.

VIX up 2.41 at 26.14

QQQ up 1.56 at 298.93, closed above Tuesday’s high in MACD divergence bounce.

AMGN, MSFT, INTC, PG led the DJIA, 16 advancers, -6

SCHW, CMA, BXP, VFC led the SPX, 141 advancers

SIRI, NFLX, ZM, XEL led the NDX, 38 advancers.

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

Up:  QQQ,

Down:  SPY, DIA, IWM,

Five of eleven sectors were higher on Wednesday, led by XLU, XLC, XLP and XLK.

The SPY MFC green line turned down at 14.6 and is short-term bearish.  SPY opened lower, traded in a volatile range and closed just below the HOLD in a pullback after a MACD divergence bounce.

Uptrend sectors:   XLK, XLC, XLI, XLB,

Neutral sectors:  XLY, XLF, XLE, XLP, XLV, XLRE,

Down trend sectors: XLU,

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

3-month Intermediate Term Market Trend: Sideways

3-day Short Term Market Trend: Up a little

38 of 100 NDX stocks closed higher on Wednesday.

32 NDX stock are above their 30 DMA:   META, SGEN, ANSS, CDNS, NVDA, PANW, FTNT, CRWD, AVGO, AMD, ATVI, OKTA, ODFL, VRSK, AAPL, EXC, ILMN, AMAT, CSCO, DXCM, INTC, MDLZ, MELI, MSFT, REGN, SNPS, AEP, GOOG, GOOGL, PEP, TMUS, XEL,

NDX Stocks to Watch on Thursday:

Moving Above 30 DMA = 6

AEP, GOOG, GOOGL, PEP, TMUS, XEL,

Moving Below 30 DMA = 7

ADI, ALGN, CTAS, GFS, MCHP, PDD, TXN,

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