SPX Closes Slightly Higher as Slow Momentum Continues....Real Estate, Technology, Basic Materials Lead Sectors...

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The SPX +4.40 opened slightly higher, traded in a range and closed slightly higher, a third pause day as momentum remains slow after last week’s +5.85% SPX gain.

Breadth was mixed on Wednesday and remained slightly positive.

Wednesday EPS reactions:  EXR +11.33, +10.57%, RBLX +4.15, +11.83%,

EBAY -0.81, -2.01%, RIVN -0.42, -2.41%.

There are seventeen Fed speakers scheduled this week with Cook, Powell, Williams, Barr, Jefferson and Harker speaking today.

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

SPY up .32 at 437.25 on 61.7 million shares, below average volume, closed slightly higher on lower volume. 

VIX down .36 at 14.45, a six-week closing low.

QQQ up .24 at 372.94

AMGN, MSFT, AAPL, JPM led the DJIA, 10 advancers, -4

EXR, AXON, DVA, TTWO led the SPX, 226 advancers

ANSS, AMAT, INTU, KLAC, ZS led the NDX, 48 advancers.

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

Up:  SPY, QQQ,

Down:  DIA, IWM,

Five of eleven sectors were higher on Wednesday, led by XLRE, XLK and XLB.

The SPY MFC green line is pointed up at 89.3 and is short-term bullish.  SPY opened slightly higher and closed slightly higher.

Uptrend sectors:   XLE, XLC, XLK,

Neutral sectors:  XLF, XLY, XLI, XLB, XLV,

Down trend sectors:  XLU, XLRE, XLP,

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

3-month Intermediate Term Market Trend: Down

3-day Short Term Market Trend: Up a little

48 of 100 NDX stocks closed higher on Wednesday.

64 NDX stocks are above their 30 DMA:  FAST, MSFT, GILD, LULU, NFLX, XEL, DLTR, ORLY, INTC, AEP, AMZN, CEG, CRWD, CTAS, ROST, TMUS, ADBE, ASML, CDNS, DXCM, GEHC, KDP, KLAC, MDLZ, MELI, SNPS, VRTX, AMD, AVGO, EXC, HON, META, MNST, MU, PEP, QCOM, SIRI, AAPL, AMAT, CPRT, EA, KHC, LRCX, NVDA, SBUX, WBD, COST, CSGP, PCAR, PDD, TTD, WDAY, ZS, BKNG, REGN, ADSK, DDOG, INTU, MAR, ADI, AMGN, IDXX, MRVL, VRSK,

NDX Stocks to Watch on Thursday:

Moving Above 30 DMA = 5

ADI, AMGN, IDXX, MRVL, VRSK,

Moving Below 30 DMA = 2

CSCO, ISRG,

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