SPX, NDX Recover from Lower Open after GDP Report...Health Care, Consumer Staples, Industrial Lead Sectors...After-hours:

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SPX +8.23, 5,569, opened lower after a lower-than-expected GDP report -0.03% vs. 0.2% consensus.  After 30 minutes of selling buyers took control and the SPX trended higher into the close.  The DJI, 40,669 +0.35%, and NDX +0.13% also closed slightly higher. 

Breadth weakened as decliners led advancers on the exchanges. Light volume selling was in control in the morning after the power outage news, however buying was clearly in control during the afternoon. Net change advancing capital was larger than net declining capital in both the SPX and NDX.

At 10 am ET the PCE Price Index was an inline M/M 0.0% vs 0.0% est., and Y/Y 2.3% vs. 2.2% est.

Wednesday session insight:  In technical analysis, the weight of the evidence usually outweighs the lack of evidence or opinions.  What you see on a chart (objective) has a higher probability of success than what you think (subjective) might happen.  Remember, the chart shows you the net result of what thousands of traders, including institutional investors, are doing.  What you think is what one individual person is thinking.  Be aware no one else in the market knows what you are thinking. 

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EPS Q1 on Thursday BMO: AME, APD, APTV, BAX, BDX, BIIB, BLDR, BR, CAH, CARR, CHD, CVS, D, DINO, DTE, EL, EXC, FTV, GWW, HII, HSY, HUBB, HWM, ICE, IDXX, IEX, IRM, K, KIM, KKR, LIN, LLY, MA, MCD, MRNA, PH, PNW, PWR,  SO, SW, TFX, TRGP report.  AMC: AAPL, ABNB, AEE, AES, AIG, AJG, AMGN, AMZN, CPT, DXCM, ED, EOG, ES, GDDY, HOLX, IR, JNPR, LYV, MHK, MNST, MSI, MTD, SYK.

184 total SPX companies report this week.

First day reaction: Q1

Positive: STX, TT, WDC, VMC, PPG, BKNG, MLM, MDLZ, EXR, GEHC, VLTO, YUM, ADP, ESS, FICO, V, HUM, EQR, GNRC, SBAC, CDNS, HON, ZBRA, AMT, LH, AOS, ECL, PFE, CINF, SPGI, XYL, HLT, PYPL, NUE, WELL, INCY, MO, CHTR, VRSN, DLR, ABBV, GOOGL, CL, RSG,  NOW, HAS, ALLE, RMD, URI, FTI, FCX, EW, TXN, LVS, LRCX, DFS, NEM, IPG, DOW, TXT, DOV, NDAQ, CMG, CNP, RJF, MRK, VRT, APH, BA, WAB, TSLA, STLD, BSX, COF, GEV, PM, TEL, ISRG, EFX, PNR, PHM, IVZ, MMM, DGX, GE, WRB, MCO, DHR, NTRS, SYF, GPC, ELV, NFLX, DHI, HBAN STT, KEY, CSX, ABT, PLD, CF, TRV, BAC, C, GS, FAST, JPM, BLK, MS, BK, DAL = 111

Neutral: CAT, REG, PPL, ITW, GLW, KO, MLM, KHC, RCL, WM, SYY, UPS, UHS, GM, FFIV, RVTY, DPZ, LYB, HIG, PSX, ROL, CMS, CBRE, AMP, BMY, LHX, FE, PCG, NEE, NSC, T, ODFL, EQT, TMO, PKG, MSCI, LMT, VZ, NVR, BX, RF, SCHW, KMI, TFC, AXP, FITB, UAL, PGR, PNC, JNJ, MTB, WFC, STZ = 53

Negative: SMCI, CSGP, EIX, GRMN, FSLR, NCLH, OKE, SBUX, IP, CZR, HES, BXP, PEG, SWK, ACGL, NXPI, REGN, BRO, ARE, TER, PCAR, ETR, ROP, ERIE, TMUS, AON, INTC, CNC, EMN, DOC, HCA, GILD, WY, PFG, SLB, FI, LKQ, TYL, POOL, IBM, WTW, MOH, PEP, PG, CMCSA, WST, TSCO, KDP, ORLY, UNP, XEL, VLO, ENPH, LII, OTIS, BKR, MAS, GD, TDY, AVY, CB, CME, NOC, RTX, HAL, KMB, UNH, SNA, MMC, JBHT, OMC, USB, KMX = 73

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TSLA -9.87, -3.38%, closed lower. 

After-hours: MSFT +27.40. +6.93%, META +29.40, +5.36% on positive earnings reactions.

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

SPY up .22 at 554.54, 93.1 million shares, average volume

VIX up .53 at 24.70,

QQQ down 0.06 at 475.47

VZ, MCD, SHW, WMT led the DJIA, 21 advancers, -4

STZ, TT, WDC, VMC led the SPX, 318 advancers,

REGN, BKNG, MDLZ, GEHC led the NDX, 66 advancers,

Up: DIA, SPY,

Down: QQQ, IWM,

The SPY MFC green line is turned up at 73.5 and is short-term bullish. +4.0

Eight of eleven sectors were higher on Wednesday, led by XLV, XLP and XLI. 

Uptrend sectors: 

Neutral sectors: XLP, XLU, XLRE, XLF, XLC,

Down trend sectors: XLY, XLV, XLE, XLI, XLK, XLB,

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

3-month Intermediate Term Market Trend:  Down

3-day Short Term Market Trend:  Up a little

66 of 100 NDX stocks closed higher on Wednesday.

70 NDX stocks are above their 30 DMA: EXC, CPRT, CCEP, COST, CRWD, CTAS, MNST, PLTR, ROST, EA, FAST, MSTR, AEP, MELI, NFLX, ADSK, AXON, BKNG, CDNS, IDXX, TTWO, CEG, FTNT, INTU, ZS, AAPL, ABNB, ADI, AMAT, ANSS, ARM, AVGO, DASH, DDOG, DXCM, GOOGL, ISRG, KLAC, LRCX, MAR, MCHP, MDB, MSFT, PANW, QCOM, SNPS, TEAM, TSLA, TTD, WDAY, CHTR, PYPL, VRTX, CDW, ADBE, AZN, HON, NVDA, ORLY, PAYX, VRSK, XEL, ADP, AMD, CTSH, GFS, KDP, LIN, MDLZ, ON, 

NDX Stocks to Watch on Thursday:

Moving Above 30 DMA = 8

ADP, AMD, CTSH, GFS, KDP, LIN, MDLZ, ON,  

Moving Below 30 DMA = 4

AMZN, APP, CSGP, META,

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