Lower Open Leads to Lower Range Day...AMZN, GOOGL Up...FAST +10.05% on Positive EPS...

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Futures fell Tuesday evening after a release indicating another $200 billion in tariffs on China.  The public comment period for these tariffs would not be until August 20 and if adopted would not take effect before August 31. 

Lower futures led to a lower open this morning and then a range bound trading day with all four of the broad index ETFs closing lower.  QQQ -.51% was the strongest of the four due to strength in AMZN +0.68% and GOOGL +0.37%.

FAST +10.05% gains following a positive EPS reaction.  JPM, WFC, C and PNC kick off earnings Friday morning.

One sector was higher on Wednesday, led by utilities XLU +0.90% and discretionary XLY -0.23%.

The DJIA, closed down 219 points at 24,700, led by weakness in BA, CAT, CVX, MMM and AAPL.

SPY down 2.04 at 276.86, on 77.0 million shares, 6% above average volume. Down on higher volume

VIX up .99 at 13.63

Oil down 3.60 at 70.61

TLT up .47 at 122.42 on 6.8 million shares.

DIS +1.90%, V +1.07%, led the DJIA, 5 advancers -21.

MHK +2.63%, JWN +2.55% and GPN +2.47%, led the SPX.

FAST +10.05%, CHKP +3.81%, ATVI +3.18%, and WDAY +1.92%, led the NDX.

Intermediate and long term up trend intact.  3-day short term trend is up.

Up:  

Down: QQQ, SPY, IWM, DIA

Breadth weakened on Wednesday, as decliners led 2,085 to 812 on the NYSE and led 1,869 to 1,016 on the NASDAQ

The SPY MFC green line turned up at 82, bullish. 

Uptrend sectors:  XLU, XLRE, XLV, XLY, XLK, XLE,

Neutral sectors: XLP, XLB, XLF, XLI,

Down trend sectors:

The 6-month intermediate and long-term trends are still up.  The three-month trend is sideways.  The ten-day trend is up.

3-month Intermediate Term Market Trend: Sideways

3-day Short Term Market Trend: Up

32 of 100 NDX stocks closed higher on Wednesday.

60 NDX stocks are above their 30 DMA.  COST, FB, NFLX, FOXA, EA, AMGN, KHC, REGN, ROST, CHTR, HAS, MDLZ, MNST, DISH, TMUS, HOLX, HSIC, NTES, CTSH, ALXN, ISRG, AMZN, ATVI, CMCSA, CTRP, GILD, IDXX, INTU, SHPG, TTWO, BMRN, CELG, ILMN, VRTX, CDNS, CHKP, EXPE, FISV, ESRX, QRTEA, XRAY, BIIB, CA, CTAS, FB, GOOGL, MELI, ORLY, PAYX, PYPL, SYMC, VRSK, WDAY, CTXS, INCY, MSFT, BIDU, ULTA, SNPS, FAST,

NDX Stocks to Watch on Thursday:

Moving Above 30 DMA = 1

FAST,

Moving Below 30 DMA = 15

AAPL, ADBE, ADP, ALGN, CERN, CSX, DLTR, LBTYA, MXIM, QCOM, STX, SWKS, TXN, VOD, XLNX

Intermediate-term trending stocks: 

RACE, ADBE, IBKR, ETFC, MA, V, ISRG, WIX, NDAQ, WYNN, VRSN, TAL, COP, CRM, NTAP, RNG, AA, WUBA, FCAU, NVDA, SQ, ALGN, AKAM, SHOP, EL

BA, MU, MAR, CMA, CME, ANET, HRS, KORS,

DLTR, WB, TPR,

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