SPX Inches to All-time High...NDX Closed Slightly Lower...TSLA Led NDX...Consumer Disrectionary, Utilities, Energy Led Sectors...DAL Takes Off on Positive EPS Reaction...

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SPX +17.20, 6,280, opened higher trended up and closed at a new all-time high, one-point above its high on July 3. 

Three Fed speakers spoke on Thursday, and their comments continue to indicate that Fed members have shifted from being data dependent, as they have repeatedly stated they were over the past ten years, to being forecast dependent when they began to say that they expect inflation to rise from tariffs.  Mary Daly indicated in comments today that waiting for inflation to rise could leave the Fed behind on cutting rates.  This point of view seems to be gaining traction as just yesterday Piper Sandler indicated that lower rates were appropriate at this time.

The NDX -0.16% traded in a range after weakness in TEAM, AXON, FTNT, ADSK, PANW, ZS and CRWD offset gains in TSLA, AMD and leading stocks.

The DJI, 44,650 +0.43%, continued in a bull flag bounce.   

Breadth continued positive Thursday.

TSLA +13.99, +4.73%, bounce continuation forming a white candle.

AVGO -2.50, -0.90%, opened higher, pulled back in a BO test pattern.

DAL +6.08, +11.99%, gapped up on a positive EPS reaction before the open. 

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

SPY up 1.76 at 625.82, 57.3 million shares, below average volume

VIX down 0.16 at 15.78, 3-month closing low

QQQ down 0.80 at 555.45

AXP, MCD, GS, JPM led DJIA, 20 advancers, +4

UAL, DAL, LUV, CZR, EL led SPX, 354 advancers,

TSLA, AMD, ON, SNPS led NDX, 53 advancers,

Up: IWM, DIA, SPY,

Down: QQQ,

The SPY MFC green line is flat at 93.8 and is short-term bullish. -0.3

Nine of eleven sectors were higher on Thursday led by XLY, XLU, and XLE.

Uptrend sectors: XLK, XLC, XLI, XLY, XLU, XLF, XLB,

Neutral sectors: XLRE, XLP, XLE, XLV,

Down trend sectors:

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

3-month Intermediate Term Market Trend: Up

3-day Short Term Market Trend: Up

53 of 100 NDX stocks closed higher on Thursday.

72 NDX stocks are above their 30 DMA: CRWD, NFLX, IDXX, CEG, ADI, AMAT, ARM, AVGO, DDOG, KLAC, LRCX, MCHP, MDB, MSFT, SNPS, NVDA, AMD, AMZN, ASML, CSCO, META, MU, ON, CSX, TXN, MRVL, WBD, DASH, SBUX, QCOM, NXPI, CSGP, GFS, PYPL, BKNG, CMCSA, GEHC, MAR, PCAR, ANSS, GOOGL, AEP, BKR, HON, SNPS, CDNS, CHTR, FAST, GILD, PEP, AAPL, CCEP, LIN, ABNB, AMGN, BIIB, KDP, ODFL, TTD, VRTX, MSTR, REGN, ORLY, PLTR, PDD, CDW, KHC, DXCM, EXC, AZN, FANG, XEL,

NDX Stocks to Watch on Friday:

Moving Above 30 DMA = 3

AZN, FANG, XEL,

Moving Below 30 DMA = 10

ADSK, AXON, CTSH, EA, FTNT, INTU, PANW, TEAM, TTWO, ZS,

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