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SPX +35.53, 6,591 closed
above its 4-month support. Breadth strengthened
and turned positive as advancers led on both the NYSE and Nasdaq
exchanges. There continues to be a lack
of clarity on both the Middle East, including the Strait of Hormuz and the future
range of potential oil prices. Most observations are speculation since no one
knows the future.
NVDA +3.51, +2.00%, rose
on 162.2 million shares.
MU -13.44, -3.40%, formed
a doji in a bull flag pullback. GOOGL introduced
its TurboQuant algorithm, which may lead to lower memory requirements for LLM’s.
SPX
advancers: SMCI HPE
SATS AMD INTC SOLS HOOD FICO VRSN MRNA CRL.
SPX
decliners: VRSK PODD
SNDK MU BRO FIS LITE VLO CME STX PANW LRCX.
SPY traded average volume of 90.5 million
shares.
VIX -1.60, 25.35,
NDX +0.67%, closed in a 5-day trading range that is above
4-month support.
DJI, 46,429, +0.66%, closed
above the HOLD and above 4-month support area for a third day.
Mega caps AMZN, NVDA, TSM, TSLA, APPL, META, GOOGL, AVGO rose
and MSFT, BRK/B fell on Wednesday.
Up: IWM, QQQ, DIA, SPY,
Down:
The SPY
MFC green line turned up at 15.6,
price-action closed 13 cents above Friday’s high, the low day, and above
four-month support and is short-term bearish. +4.5.
Nine of eleven sectors (94.8%)
were higher on Wednesday led by XLB, XLV and XLY.
66
of 100
NDX stocks closed higher on Wednesday.
29 NDX stocks are above their 30
DMA: FANG, ROST, NLFX, PLTR,
DDOG, INTU, MRVL, MSTR, ABNB, ARM, WDC, KLAC, STX, EA, AMAT, AMD, BKR,
LRCX, AMD, BKR, CSCO, ALNY, AMZN, INSM, INTC, LIN, PDD, PYPL, ROP,
NDX Stocks to Watch on Thursday:
Moving Above 30 DMA = 8
ALNY, AMZN, INSM, INTC, LIN, PDD, PYPL, ROP,
Moving Below 30 DMA = 1
BKNG,
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