RUT, NDX, DJI, SPX Move Higher...SPX Recovers 30% of Tuesday's Pullback...Financial, Health Care, Consumer Staples Led Sectors...AMGN, AMD Close Higher on Positive EPS Reactions...

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SPX +24.74, 6,796, closed just below 6,800.  Breadth strengthened on Wednesday as advancers and advancing capital increased.  Government shutdown continued for the thirty sixth day.  Apparently, politicians continue to prioritize their political objectives over a fully functioning government.  Is it commonly accepted that politicians decisions lead to the outcomes that they generate?

Wednesday’s rally recovers 30% of Tuesday’s pullback.  The visual evidence continues to indicate that the current intermediate trend is more probable to continue rising.  Remember an uptrend is a series of higher highs and higher lows.  To be an uptrend there must be a pullback to a higher low which appears to have occurred on Tuesday.  The four-week SPY trend is up.  The three- and six-month trends are up.  Dave

Earnings: There are more than 130 SPX earnings reports this week.

APD BDX CMI COP DD DDOG EPAM EVRG MRNA NRG PH PODD RL ROK TPR VST VTRS WBD report EPS before the open on Thursday.  ABNB AKAM CPT ED EOG EXPE GEN LNT MCHP MNST MTD NWSA SOLV TTD TTWO WYNN XYZ report after the close.

NDX +0.72%, bull flag pattern. 

DJI, 47,311, +0.48%, bull flag bounce, led by AMGN, CAT and MCD.

AMGN +23.16, +7.81%, a positive EPS reaction and AMD +6.28, +2.51%, EPS beat with initial negative reaction turned positive.

NVDA -3.48, -1.75%, bull flag pullback.

AVGO +7.04, +2.00%, re-breakout setup.

ORCL +2.14, +0.86%, remained below short and intermediate-term support, eight-week consolidation.

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

SPY up +2.34 at 677.58, 73.5 million shares, slightly below average volume.

VIX down -0.99 at 18.01,

QQQ up +4.03 at 623.28

AMGN, CAT, MMM, MCD led DJIA, 14 advancers, +3

EXPD, HSIC, DD, YUM led SPX, 306 advancers,

MU, AMGN, MRVL, LRCX led NDX, 61 advancers.

Up: IWM, QQQ, DIA, SPY,

Down:

The SPY MFC green line is pointed down at 72.6 and price-action closed below Tuesday’s high and is defensive. -5.3

Nine of eleven sectors were higher on Wednesday led by XLF, XLV and XLP. 

Uptrend sectors: XLK, XLV, XLY, XLI, XLC, XLU, XLF, XLE,

Neutral sectors: XLB, XLRE,

Down trend sectors: XLP,

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: Down a little 

61 of 100 NDX stocks closed higher on Wednesday.

46 NDX stocks are above their 30 DMA: MU, PANW, ASML, LRCX, WBD, ZS, CRWD, AMAT, MRVL, XEL, EA, AEP, VRTX, AMD, AMGN, GILD, AAPL, GOOGL, KLAC, ROST, CSCO, ISRG, BIIB, MDB, QCOM, CTSH, TEAM, AVGO, MRVL, NVDA, PDD, PLTR, AMZN, REGN, MELI, TSLA, FTNT, IDXX, COST, MAR, ODFL, GEHC, GFS, INTC, KDP, PCAR,

NDX Stocks to Watch on Thursday:

Moving Above 30 DMA = 5

GEHC, GFS, INTC, KDP, PCAR,     

Moving Below 30 DMA = 2

CSX, DDOG,

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