SPX, NDX, DJI Close Lower after a Higher Open Following NVDA Record Revenues, EPS...Consumer Staples Led Sectors...

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SPX -103.40, 6,538, opened higher reversed lower. Breadth weakened on Thursday with net change capital highly negative positive. The SPX closed below its October 10 low. 

While selling volume was average for AAPL and above average for MSFT and NVDA, both AAPL 0.37% and MSFT 0.35% traded less than 1% of their outstanding shares while NVDA traded about 1.4% of its outstanding shares.  This indicates that the price action was more about buyers paying a lower price than it was a large percentage of shareholders selling.   

Higher open after NVDA record earnings, reversal to a lower close. The two-month intermediate trend is sideways at support which increases the probability of a move lower. The eight-week SPY trend is sideways.  The three- and six-month trends are still up.  Dave

NDX -2.38%, higher open lower close, high to close -4.6%, formed a large red engulfing candle, broke November 7 and November 18 support. 

DJI, 45,752, -0.84%, gapped up on the open reversed, closed lower bearish engulging, led by GS, MSFT and CAT.

NVDA -5.88, -3.15%, reported record EPS and revenues, gapped up at the open, reversed and sold off to close lower, reversing Wednesday’s gains.

AVGO -7.60, -2.14%, opened higher, reversed, closed lower.

ORCL -14.84, -6.58%, gapped higher, reversed closed lower back at intermediate term muti-month support.

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

SPY down -10.10 at 652.53, 164.4 million shares, above average volume.

VIX up +2.76 at 26.42,

QQQ down -14.20 at 585.67

WMT, TRV, PG, UNH led DJIA, 8 advancers, -5

WMT, REGN, GEHC, SOLV, ERIE led SPX, 149 advancers,

REGN, GEHC, KDP, PCAR led NDX, 12 advancers.

Up:  

Down: DIA, SPY, IWM, QQQ,

The SPY MFC green line is pointed down at 26.9, and price-action, reversed from a higher open to a lower close, below the support low of the November 7 hammer and is short-term bearish. -10.1   

One of eleven sectors was higher on Thursday led by XLP, XLRE and XLU. 

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

Neutral sectors: XLF, XLRE,

Down trend sectors: XLB, XLP,

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

3-month Intermediate Term Market Trend: Up

3-day Short Term Market Trend: Down 

12 of 100 NDX stocks closed higher on Thursday.

26 NDX stocks are above their 30 DMA: WBD, MRVL, EA, AEP, AMGN, AAPL, GOOGL, ROST, CSCO, ISRG, BIIB, CTSH, REGN, IDXX, MAR, AZN, BKR, FANG, MNST, GILD, ORLY, GEHC, KDP, KHC, PCAR, VRTX,

NDX Stocks to Watch on Friday:

Moving Above 30 DMA = 5

GEHC, KDP, KHC, PCAR, VRTX,

Moving Below 30 DMA = 6

AMAT, ASML, AVGO, DDOG, KLAC, MU,

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