Volatility Dominates on Wednesday...CSCO Up, NTAP Down in After-hours, WMT Reports Before the Open on Thursday...

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After-hours CSCO +4.96% and NTAP -6.31% reported EPS.  WMT reports before the open on Thursday.

The broad indexes had another volatile day with SPX posting a 61 point range, the
DJIA a 565 point range and the NDX a 179 point range.  SPY, DIA and QQQ closed below Tuesday’s inverted hammer, making a lower right should in their inverse head & should price patterns.

The DJIA, closed down 205 points at 25,080, led by weakness in AAPL, BA, UNH, TRV and GS.  This is the eleventh straight close above 25,000.

One of eleven sectors was higher on Wednesday, led by communication XLC +0.49% and real estate XLRE -0.03%.

SPY down 1.86 at 270.20 on 125.3 million shares, 1% below average volume. Down on higher volume.

VIX up 1.23 at 21.25 

Oil up .72 at 56.00

TLT up .07 at 114.09 on 8.6 million shares. 

DWDP +0.89%, HD +0.50%, led the DJIA, 6 advancers, -5.

COTY +6.62%, AMD +6.12% and BWA +3.51%, led the SPX.

CTRP +4.16%, MELI +2.72%, NTES +2.58%, and LBTYA +2.45% led the NDX.

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

Up:

Down: SPY, IWM, QQQ, DIA,

Breadth weakened on Wednesday, as decliners led 1,769 to 1,148 on the NYSE and led 2,058 to 972 on the NASDAQ

The SPY MFC green line is pointed down at 44 and is short-term bearish.

Uptrend sectors:   XLU, XLP, XLRE,

Neutral sectors:  XLV, XLY, XLF, XLB,

Down trend sectors: XLK, XLI, XLE, XLC,

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: Down

40 of 100 NDX stocks closed higher on Wednesday.

43 NDX stocks are above their 30 DMA.  SBUX, WBA, CDNS, TSLA, PEP, XLNX, CMCSA, DLTR, ESRX, INTC, QRTEA, SHPG, CHTR, COST, MELI, AAL, BKNG, FOXA, MDLZ, SIRI, ULTA, MNST, PYPL, SYMC, FAST, MCHP, MYL, VRSK, WDAY, CTXS, HSIC, ORLY, SNPS, XRAY, ADI, CSX, EXPE, MAR, NXPI, TMUS, VOD, MXIM, NTES,

NDX Stocks to Watch on Thursday:

Moving Above 30 DMA = 2

MXIM, NTES,

Moving Below 30 DMA = 5

ADP, HOLX, KLAC, PAYX, ROST,

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