SPX Closed Flat as NDX Closed Higher...Communications Services, Basic Materials, Real Estate Led Sectors...

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SPX +0.44, 5,970, opened slightly higher, traded in a range formed a black spinning top and closed just 2.82% below its all-time closing high on February 19.

The DJI, 42,427 -0.22%, closed lower.  The NDX +0.27% formed a white spinning top to a new three-month high and closed just 2.05% below its all-time high on February 19. 

Breadth was weaker on Wednesday as advancers declined on the exchanges and in the indexes.  Net change declining capital led net change advancing capital in the SPX and NDX.

Wednesday Session Insight: Trend. Trade what you see. The seven-week trend is up.  SPY, QQQ, NVDA, MSFT, META, NFLX, COST, TSM, GE, GEV, BA, NET, ZS, VST, VRT and others are in clear up trends.  These charts show that the trend is more likely to continue up.  Price action on these charts show no indication of trend reversal as of today.

TSLA -12.22, -3.55%, formed an inverted hammer in bull flag pattern.

CRWD -28.20, -5.77%, lower on EPS reaction.

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

SPY down .16 at 595.93, 57.3 million shares, below average volume

VIX down .08 at 17.61,

QQQ up 1.47 at 528.77

MRK, SHW, AMZN, NKE led the DJIA, 11 advancers, -11

ON, NXPI, FMC, ALB, DHI, CMG led the SPX, 196 advancers,

MRVL, ON, NXPI, APP led the NDX, 54 advancers,

Up: QQQ,

Down: SPY, DIA, IWM,

The SPY MFC green line is pointed up at 95.9 and is short-term bullish. +1.3

Six of eleven sectors were higher on Wednesday led by XLC, XLB and XLRE. 

Uptrend sectors: XLI, XLU, XLK, XLY,

Neutral sectors:  XLC, XLF, XLP, XLRE, XLB, XLE,

Down trend sectors: XLV,

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

3-month Intermediate Term Market Trend:  Up

3-day Short Term Market Trend:  Up

54 of 100 NDX stocks closed higher on Wednesday.

74 NDX stocks are above their 30 DMA: COST, CRWD, CTAS, MNST, PLTR, MELI, NFLX, ADSK, AXON, BKNG, CDNS, IDXX, TTWO, CEG, INTU, ZS, ABNB, ADI, AMAT, ANSS, ARM, AVGO, DDOG, DXCM, ISRG, KLAC, LRCX, MAR, MCHP, MDB, MSFT, SNPS, TSLA, TTD, PYPL, CDW, ADBE, HON, NVDA, PAYX, VRSK, ADP, AMD, CTSH, AMZN, APP, ASML, CSCO, META, MU, ON, CSX, GEHC, LULU, TXN, MRVL, WBD, DASH, BIIB, FAST, GOOGL, LIN, AZN, GILD, PANW, SBUX, AMGN, MDLZ, CCEP, BKR, FANG, QCOM, GFS, NXPI, ODFL, CSGP, 

NDX Stocks to Watch on Thursday:

Moving Above 30 DMA = 1

CSGP,  

Moving Below 30 DMA = 6

CMCSA, MSTR, ORLY, PCAR, ROP, ROST,

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