SPX, NDX Close Slightly Lower after CPI Report 0.1% Higher Than Expected...Energy, Basic Materials Lead Sectors...JPM, WFC + 3 Report EPS BMO Friday as Earnings Season Kicks Off...

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CPI report BMO came in 0.1% higher than consensus estimate.  M/M 0.2% vs 0.1% est., Y/Y 2.4% vs 2.3% est, Core CPI M/M 0.3% vs 0.2% est., Y/Y 3.3% vs 3.2%.  Futures sold off and the SPX and other indexes opened lower before bouncing off support lows. 

The SPX -11.99, 5,780, opened lower after the CPI report, completed a BO test at support, rallied and traded in a range closing above Wednesday’s S1 level.  The SPX closed above 5,700 for the fourteenth time since Sept. 19.  The DJI closed slightly lower and above Wednesday’s S1 level.

The NDX -0.13%, opened lower, traded in a range and closed slightly lower.  The NDX is an HBO setup.

NVDA +2.16, +1.63%, opened lower, reversed and closed higher just 77 cents below its all-time closing high on June 18. 

Earnings reactions: DPZ, -1.08%, DAL -1.08%

SPX EPS reports

Friday: BK, BLK, FAST, JPM, WFC, 

PPI report Friday 8:30 am ET BMO

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

SPY down 1.01 at 576.14, 44.0 million shares, below average volume

VIX up .07 at 20.93

QQQ down .56 at 492.59

UNH, AMZN, CRM, TRV led the DJIA, 9 advancers, -19

CRWD, BBWI, MOS, MU led the SPX, 164 advancers

MDB, CRWD, ZS, DDOG, TEAM led the NDX, 37 advancers

Up: 

Down:  DIA, QQQ, SPY, IWM,

Two of eleven sectors were higher on Thursday, led by XLE, XLB and XLK

The SPY MFC green line is pointed up at 93.1 and is short-term bullish. +3.1

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

Neutral sectors: XLE,

Down trend sectors: 

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

3-month Intermediate Term Market Trend: Up

3-day Short Term Market Trend: Up

37 of 100 NDX stocks closed higher on Thursday.

68 NDX stocks are above their 30 DMA:  CTAS, GILD, PAYX, PYPL, DASH, FTNT, GEHC, TTD, ADSK, NFLX, CSCO, BKNG, MAR, FAST, TSLA, AMD, ARM, AVGO, CEG, CRWD, META, PCAR, ABNB, INTC, BKR, CMCSA, DDOG, CPRT, GOOGL, TMUS, AMAT, ORLY, PDD, LRCX, MU, SNPS, ADP, ADI, ILMN, KLAC, MRVL, NVDA, FANG, LULU, TEAM, SMCI, AAPL, ANSS, ASML, CDNS, CDW, DXCM, HON, PANW, SNPS, ZS, AMZN, CSX, NXPI, ODFL, QCOM, TTWO, MDB, MNST, VRTX,  

NDX Stocks to Watch on Friday:

Moving Above 30 DMA = 3

MDB, MNST, VRTX,  

Moving Below 30 DMA = 9

CHTR, COST, CTSH, EXC, ISRG, MCHP, SBUX, TXN, VRSK,

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