SPX, NDX Close Lower...Communication Services, Basic Materials, Financial Lead Sectors...After-hours: MSFT, META Lower after EPS Beat...

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The SPX -19.25, 5,813, opened flat, rallied, reversed and closed lower.  Breadth was mixed with weakness in technology along with an increase in VIX. The SPX closed above 5,800 for the thirteenth time in fourteen days. 

The NDX -0.79% opened lower, rallied to even, reversed and closed lower. The NDX remains below its July 10 all-time high. The Nasdaq Composite pulled back, testing yesterday’s breakout.

NVDA -1.91, -1.36% opened flat, traded in a range and closed slightly higher.

After-hours: MSFT -16.03, -3.719% and META -18.80, -3.18% both reported an earnings and revenue beat before pulling back in after-hours.

167 SPX Companies report EPS this week.

SPX companies reporting on Thursday. 37 BMO: AME, APTV, BALL, BMY, BWA, CI, CMCSA, CMS, COP, DINO, EL, ETN, ETR, GNRC, GWW, HII, ICE, IDXX, IP, IQV, K KIM, LIN, MA MO, MRK, NCLH, PH, PWR, REGN, SO, TFX, UBER, WEC, WTW, XEL, XYL. 13 AMC: AAPL, AES, AMCR, AMZN, CPT, CTRA, EMN, ERIE, INTC, IR, JNPR, LNT, VICI.

First day reaction: Q3, Wednesday, (excludes Oct 22 and 23)

Positive: GRMN, SW, FMC, TECH, DAY, IEX, VMC, ABBV, ZBH, VRSK, GPN, MLM, EQT, HUM, ITW, V, GOOGL, EA, GEHC, NI, ADP, SYK, CDNS, INCY, FFIV, LDOS, ZBRA, WM, WELL, GLW, RCL, BRO, CNP, ON, DECK, DLR, RMD COF, AON, WDC, CNC, LHX CINF, TSLA, MOH, WST, CBRE, POOL, RJF, TMUS, NOW, UPS, LRCX, TYL, LH, ALGN, LVS, FTI, NOC, NFLX, ISRG, SNA, TRV, BX, MTB, STLD, DFS, PPG, UAL, SYF, USB, PLD, JBHT, ABT, OMC, WBA, SCHW, PNC, JNJ, FAST, WFC, JPM, BLK, = 83

Neutral:  MDLZ, OKE, EXC, EIX, HES, EXR, TEL, REG. MAS, MCD, ORLY, DTE, LKQ, DOW, PG, RF, MMC, KMI, STT, BAC, PGR, UNH = 22

Negative:  QRVO, CDW, DVA, AMD, CZR, CMG, LLY, BXP, TT, FTV, KHC, OTIS, RSG, BG, CAT, FE, ESS, BIIB, CB, FSLR, SWK, F, DHI, PSX, AMT, PYPL, SBAC, MSCI, HUBB, PFE, SYY, ECL, MHK, UHS, HCA, HIG, PFG, CL, DOC, VRSN, DXCM, AJG, EW, WY, NEM, TER, CARR, ROL, TXT, IBM, TSCO, HAS, LUV, HON, KDP, VLTO, UNP, ALLE, DOV, AMP, GL, VLO, URI, SLB, AXP, FITB, ELV, CSX, TFC, CCI, EFX, HBAN, KEY, CFG, BK, DAL, DPZ = 77

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

SPY down 1.76 at 580.01, 41.3 million shares, average volume,

VIX up 1.01 at 20.35

QQQ down 3.78 at 496.38

V, AXP, MRK, AMZN led the DJIA, 12 advancers, +5            

GRMN, SW, FMC, TECH led the SPX, 243 advancers

VRSK, MDB, WBD, GOOGL led the NDX, 39 advancers

Up:    

Down:  IWM, DIA, SPY, QQQ,

The SPY MFC green line is pointed down (after having turned up during the first part of Wednesday’s trading) at 78.2 and is defensive, -1.3, because price is below the low of the high day, Oct. 14.

Five of eleven sectors were higher on Wednesday, led by XLC, XLB and XLF. 

Uptrend sectors:   XLF, XLC, XLI, XLK, XLU, XLB, XLY, XLRE, XLP, XLV,

Neutral sectors: XLE,

Down trend sectors:

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

3-month Intermediate Term Market Trend: Up

3-day Short Term Market Trend: Sideways

39 of 100 NDX stocks closed higher on Wednesday.

54 NDX stocks are above their 30 DMA:  CTAS, GILD, PAYX, DASH, TTD, ADSK, CSCO, BKNG, MAR, FAST, CRWD, PCAR, ABNB, DDOG, TMUS, MU, ADP, ILMN, MRVL, NVDA, LULU, TEAM, AAPL, PANW, ZS, TTWO, MNST, EA, DXCM, ISRG, NFLX, SBUX, CMCSA, MSFT, BKR, NXPI, ADI, TSLA, TXN, AMZN, GOOGL, META, ODFL, ON, ARM, ANSS, AVGO, CDNS, INTU, MDB, SNPS, CHTR, VRSK, VRTX,

NDX Stocks to Watch on Thursday:

Moving Above 30 DMA = 3

CHTR, VRSK, VRTX,

Moving Below 30 DMA = 10

AMD, CEG, FTNT, GFS, INTC, MCHP, ORLY, PYPL, QCOM, SMCI,

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