NDX Closed Higher as Semi and Technology Stocks Rallied...SPX, RUT, DJI Closed Lower...SPX Formed a Hammer Candle...

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SPX -21.14, 7,482, traded in a range and formed a hammer candle, in its multi-week channel.  Both the NDX and SPX paused in its 4 1/2 -week consolidation sideways channel.  Breadth remained negative as decliners led on the NYSE and NASDAQ exchanges.

SpaceX, SPCX, closed at 148.30, -0.78%, closed lower. Our view is that SPCX, with no earnings, IS an overvalued speculation.

SPX advancers: AKAM ANET SMCI SNDK DINO VLO BKR MPC CIEN CASY PSX.

SPX decliners: SYF MRNA SW AXON RMD GPN ALGN AMCR COF BLDR PHM.

SPY -0.31%, below average volume of 42.9 million shares.

VIX +0.77, 16.90.

NDX +0.27% opened lower, closed higher, below its 30 DMA.

DJI, 52,348 -1.09%, a two-day bull flag pattern.

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

Up: QQQ,

Down: SPY, IWM, DIA,

The SPY MFC green line is flat at 64.5, price-action remained above ST support and is short-term bullish. -0.7

Two of eleven sectors were higher on Wednesday led by XLE, XLK and XLP. 

39 of 100 NDX stocks closed higher on Wednesday.

45 NDX stocks are above their 30 DMA: AMAT, MNST, PANW, CRWD, FTNT, EA, FAST, PCAR, CCEP, EXC, LIN, BKNG, VRTX, ABNB, DASH, TTWO, AEP, AMGN, ALAB, AXON, GEHC, ROP, XEL, AZN, SBUX, CSX, KHC, ADP, DDOG, MELI, PAYX, PYPL, REGN, ALNY, CTAS, MDB, TRI, AAPL, GILD, ISRG, WDAY, DXCM, META, PDD, PLTR,

NDX Stocks to Watch on Thursday

Moving Above 30 DMA = 0

Moving Below 30 DMA = 7

AMD, APP, KDP, GOOGL, IDXX, PEP, TMUS,

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