Rally After Positive EU Trade Developments...NDX Hit New All-time Closing High Before FB Collapse Impacts NDX After-hours...

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Today QQQ closed at a new all-time of 182.82 and SPY closed just 15 cents below its all-time closing high of 284.16 on Jan 26.  A late afternoon rally occurred after a report that trade and tariff progress had occurred in talks between the U.S. and the EU.

KO, CHKP, CTXS, QCOM, XLNX and MDLZ had a positive earnings reaction on Wednesday.  BA, FB, PYPL, ALGN and GILD were lower on a negative reaction.  FB reported after the close and fell 20% in after-hours trading. 

Reported: 

Positive Reactions:  HAS, GOOG, CDNS, BIIB, PCAR, UTX, VZ, MMM, AVY, HOG, IQV, GRUB, FLIR, GLW, HCA, RHI, WM, ROK, UPS, SIRI, CHKP, VRTX, CTXS, QCOM, XLNX, MDLZ, KO,

Negative Reactions:  TXN, FB, PYPL, ALGN, GILD, BA, V,

Earning reports this week coming from:

NDX stocks: AAL, ALXN, CELG, ORLY, MXIM, EXPE, EA, INTC, LRCX, SBUX, AMZN and WDC. 

DJIA stocks: MCD, INTC, MRK, XOM and CVX.

Ten sectors were higher on Wednesday, led by industrials XLI +1.52% and healthcare XLV +1.28%.

The DJIA, closed up 172 points at 25,414, led by strength in MMM, MSFT, V, CAT and AAPL.  This is the ninth consecutive close above 25,000 since June 15.

SPY up 2.40 at 284.01, on 78.8 million shares, 13% above average volume. Up on higher volume.

VIX down .12 at 12.29

Oil up .50 at 69.26

TLT down .19 at 119.49 on 7.3 million shares.

MSFT +2.94%, NKE +2.16%, led the DJIA, 25 advancers, +2.

FLIR +11.79%, GLW +11.33% and HCA +9.22%, led the SPX.

CHKP +5.22%, JD +4.56%, AVGO +3.97%, and TSLA +3.80%, led the NDX.

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

Up: QQQ, SPY, DIA, IWM

Down:

Breadth strengthened on Wednesday, as advancers led 1,810 to 1,065 on the NYSE and led 1,643 to 1,240 on the NASDAQ

The SPY MFC green line is in the upper zone at 92, bullish. 

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

Neutral sectors: XLE, XLB, XLF, XLI,

Down trend sectors:

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

3-month Intermediate Term Market Trend: Up

3-day Short Term Market Trend: Up

86 of 100 NDX stocks closed higher on Wednesday.

71 NDX stocks are above their 30 DMA.  COST, FB, EA, AMGN, REGN, HAS, MDLZ, MNST, HOLX, HSIC, NTES, CTSH, ALXN, ISRG, AMZN, ATVI, CTRP, GILD, IDXX, INTU, SHPG, TTWO, BMRN, CELG, ILMN, VRTX, CDNS, CHKP, EXPE, FISV, BIIB, CA, CTAS, FB, GOOGL, MELI, ORLY, PAYX, PYPL, VRSK, WDAY, CTXS, MSFT, ULTA, SNPS, FAST, AAPL, ADBE, ADP, ALGN, DLTR, QCOM, TXN, WBA, ASML, PCAR, ROST, XLNX, CSX, XRAY, INTC, ADSK, BIDU, BKNG, CERN, CSCO, MAR, NVDA, SBUX, SIRI, WYNN,

NDX Stocks to Watch on Thursday:

Moving Above 30 DMA = 10

ADSK, BIDU, BKNG, CERN, CSCO, MAR, NVDA, SBUX, SIRI, WYNN,

Moving Below 30 DMA = 1

CMCSA,

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,

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