SPX, NDX Closed Slightly Lower as Mega Caps Closed Lower...Utilities, Real Estate, Industrials Lead Sectors...Earnings Reports Continue...

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SPX -12.57, 5,937, opened slightly higher, traded in a range and closed slightly lower.  As expected from Wednesday strength, breadth weakened, but finished slightly positive on Thursday.

The DJI, 43,153, closed -0.16% lower. 

NDX -0.69%, retraced a third of Wednesday’s rally.

TSLA -14.40, -3.36%, opened and closed lower, at its 30 DMA.

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Four of six reporting SPX stocks, PNC, MTB, USB, UNH had -1% or lower EPS reactions today. 

7 more SPX companies report this week: Thursday after hours: JBHT, Friday: CFG, FAST, HBAN, RF, SLB, STT, TFC

First day reaction: Q4

Positive:  MS, BK, WFC, C, GS, BLK, JPM, WBA, DAL = 9

Neutral:  BAC = 1

Negative:  UNH, USB, MTB, PNC, STZ = 5

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

SPY down 1.14 at 591.64, 43.0 million shares, below average volume

VIX up .48 at 16.60,

VIX1D up .72 at 14.35,

QQQ down 3.62 at 513.08

SHW, JNJ, BA, CAT led the DJIA, 19 advancers, -4               

DXCM, AMT, EL, CCI led the SPX, 376 advancers, increased from 367

DXCM, CEG, AMAT, KLAC led the NDX, 55 advancers

Up:  IWM,  

Down:  DIA, SPY, QQQ,

The SPY MFC green line is pointed up at 28.9 and is short-term bullish. +3.4.

Eight of eleven sectors were higher on Thursday, led by XLU, XLRE and XLI.

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

Neutral sectors:  XLE,

Down trend sectors: XLRE, XLP, XLV, XLB,

The 6-month intermediate trend is up.  The ten-day trend is Up a little.

3-month Intermediate Term Market Trend: Up a little

3-day Short Term Market Trend: Up

55 of 100 NDX stocks closed higher on Thursday.

38 NDX stocks are above their 30 DMA:  MRVL, AVGO, GOOGL CEG, ASML, BKR, FANG, KLAC, AMAT, CDW, GEHC, ISRG, AEP, DXCM, ARM, CSCO, EXC, MU, PAYX, PCAR, QCOM, AMGN, ANSS, CRWD, LRCX, MELI, META, MSTR, PDD, PYPL, SNPS, TSLA, ADP, AZN, CSX, IDXX, LIN, SBUX,

NDX Stocks to Watch on Friday:

Moving Above 30 DMA = 6 

ADP, AZN, CSX, IDXX, LIN, SBUX,

Moving Below 30 DMA = 3

ADI, GILD, TXN,

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NDX, SPX Closed Higher Led by TSLA on Broad Rally after Better-than-Expected CPI Report...Financials, Consumer Discretionary, Technology Lead Sectors...Postive EPS Reactions: BK, WFC, C, GS, BLK, JPM...

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SPX +107.00, 5,949.  Gapped higher after a (better) than-expected CPI report M/M Core 0.2% vs. 0.3% expected and Y/Y Core 3.2% vs 3.3% expected.  Trended higher in a broad rally and with its highest close in the past six days.

The DJI, 43,221, closed +1.69% higher in a bounce continuation move. 

NDX +2.31%, closed above the high of the low day.

TSLA +31.86, +8.04%, opened and closed higher, above its 30 DMA.

Five of six reporting SPX stocks, BK, WFC, C, GS, BLK had 5%+ EPS reactions today. 

13 more SPX companies report this week: Thursday: BAC, MS, MTB, PNC, UNH, USB, JBHT, Friday: CFG, FAST, HBAN, RF, SLB, STT, TFC

First day reaction: Q4

Positive:  BK, WFC, C, GS, BLK, JPM, WBA, DAL = 8

Neutral:  = 0

Negative:  STZ = 1

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

SPY up 10.59 at 592.78, 56.8 million shares, above average volume

VIX down 2.59 at 16.12,

VIX1D down 8.85 at 13.63,

QQQ up 11.62 at 516.70

GS, AXP, NVDA, HD led the DJIA, 23 advancers, +4              

TSLA, BK, WFC, C led the SPX, 367 advancers

TSLA, ISRG, MU, MSTR led the NDX, 88 advancers

Up:  QQQ, IWM, SPY, DIA,

Down: 

The SPY MFC green line turned up at 25.5 and is short-term bullish. +4.7.

Ten of eleven sectors were higher on Wednesday, led by XLF, XLY and XLK.

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

Neutral sectors:  XLE,

Down trend sectors: XLRE, XLP, XLV, XLB,

The 6-month intermediate trend is up.  The ten-day trend is Up a little.

3-month Intermediate Term Market Trend: Sideways

3-day Short Term Market Trend: Up

88 of 100 NDX stocks closed higher on Wednesday.

35 NDX stocks are above their 30 DMA:  MRVL, AVGO, GOOGL CEG, ASML, BKR, FANG, KLAC, AMAT, CDW, GEHC, ISRG, AEP, DXCM, ARM, CSCO, EXC, MU, PAYX, PCAR, QCOM, TXN, ADI, AMGN, ANSS, CRWD, GILD, LRCX, MELI, META, MSTR, PDD, PYPL, SNPS, TSLA,

NDX Stocks to Watch on Thursday:

Moving Above 30 DMA = 13 

ADI, AMGN, ANSS, CRWD, GILD, LRCX, MELI, META, MSTR, PDD, PYPL, SNPS, TSLA,

Moving Below 30 DMA = 1

LULU,

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SPX Higher Open after Better-than-expected PPI Report...Breadth Strengthens...Financial, Utilities, Materials Lead Sectors...Earnings Season Starts: JPM, GS, C, WFC +...CPI Before the Open...

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SPX +6.69, 5,842.  Gapped higher after a lower (better) than-expected PPI report: M/M Core 0.0% vs. 0.2% expected and Y/Y Core 3.5% vs 3.8% expected (SPY newsfeed).  

After the opening the market faded and filled the gap.  Buyers controlled the pre-market, the open, midday and the close, while sellers were primarily in control after the open until midday and 90 minutes before the close for 45 minutes.   

Breadth was mixed but strengthened again on Tuesday. 

The DJI, 42,518, closed +0.52% a close above the high of Monday’s low day. 

NDX -0.13%, again closed just below 3-week support.

TSLA -6.95, -1.72%, opened higher, reversed and closed lower. 

Wednesday is the unofficial start of Q4 earnings season with pre-market EPS reports from:  JPM, BK, BLK, C, GS, WFC. 

CPI will report 8:30 am Wednesday BMO: Core M/M 0.2% expected, Y/Y 3.3 expected.

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

SPY up 0.80 at 582.19, 48.3 million shares, average volume

VIX down .48 at 18.71,

VIX1D up 5.66 at 22.48,

QQQ down .48 at 505.08

CAT, MMM, GS, SHW led the DJIA, 19 advancers, -1          

URI, VST, CE, BLDR led the SPX, 380 advancers

MSTR, TEAM, PYPL, CEG led the NDX, 63 advancers

Up:  IWM, DIA, SPY,

Down:  QQQ,

The SPY MFC green line is pointed down at 20.8 and is short-term bearish. -6.4.

Eight of eleven sectors were higher on Tuesday, led by XLF, XLU and XLB.

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

Neutral sectors:  XLE,

Down trend sectors: XLRE, XLP, XLV, XLB,

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

3-month Intermediate Term Market Trend: Sideways

3-day Short Term Market Trend: Down

63 of 100 NDX stocks closed higher on Tuesday.

23 NDX stocks are above their 30 DMA:  MRVL, LULU, AVGO, GOOGL CEG, ASML, BKR, FANG, KLAC, AMAT, CDW, GEHC, ISRG, AEP, DXCM, ARM, CSCO, EXC, MU, PAYX, PCAR, QCOM, TXN,

NDX Stocks to Watch on Wednesday:

Moving Above 30 DMA = 8 

ARM, CSCO, EXC, MU, PAYX, PCAR, QCOM, TXN,

Moving Below 30 DMA = 2

AMGN, META,

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