SPX, NDX Rally Back on TSLA and Mega-cap Bounce...Consumer Discretionary, Communication Services, Technology Lead Sectors...TSLA Leads SPX, NDX on Positive EPS Reaction...After-hours: DECK Gains...

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The SPX +12.44, 5,809, opened higher, traded in a range and closed higher.  The SPX closed above 5,800 for the eighth time in nine days. 

The NDX +0.83% opened higher, trended up, closed higher and formed a bullish harami candle pattern.

NVDA +0.85, +0.61% opened higher, traded in a range and closed higher.

TSLA +46.83, +21.92% and IBM -5.80, -6.17% earnings reactions.

After-hours: DECK +20.71, +13.62% and MHK -14.36, -9.13% earnings reactions.

First day reaction: Q3, Thursday, (excludes Tuesday, Wednesday)

Positive: 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, = 40

Neutral:  ORLY, DTE, LKQ, DOW, PG, RF, MMC, KMI, STT, BAC, PGR, UNH = 12

Negative:  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 = 33

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

SPY up 1.25 at 579.24, 34.9 million shares, below average volume,

VIX down.16 at 19.08

QQQ up 3.96 at 492.32

INTC, GS, MCD, AMZN led the DJIA, 11 advancers, +7        

TSLA, MOH, WST, CBRE, POOL led the SPX, 249 advancers

TSLA, TMUS, LRCX, DXCM led the NDX, 61 advancers

Up:  QQQ, IWM, SPY,

Down:  DIA,

The SPY MFC green line turned down at 89.4 and is counter-trend defensive, -2.5, because price is below the low of the high day, Oct. 14.

Five of eleven sectors were higher on Thursday, led by XLY, XLC and XLK.  These 3 economic growth sectors, which are 51% of the SPX weighting, went from the bottom of the sector list on Wednesday to Thursday’s leading gainers.

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 up a little.

3-month Intermediate Term Market Trend: Up

3-day Short Term Market Trend: Down a little

61 of 100 NDX stocks closed higher on Thursday.

48 NDX stocks are above their 30 DMA:  CTAS, GILD, PAYX, PYPL, DASH, FTNT, TTD, ADSK, CSCO, BKNG, MAR, FAST, CEG, CRWD, PCAR, ABNB, DDOG, TMUS, ORLY, MU, ADP, ILMN, MRVL, NVDA, LULU, TEAM, SMCI, AAPL, PANW, ZS, TTWO, MNST, EXC, EA, DXCM, ISRG, NFLX, SBUX, CHTR, CMCSA, MSFT, BKR, NXPI, XEL, ADI, TSLA, TXN, VRTX,

NDX Stocks to Watch on Friday:

Moving Above 30 DMA = 4

ADI, TSLA, TXN, VRTX,  

Moving Below 30 DMA = 5

COST, HON, KHC, LIN, PEP,

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