Semiconductors Rally as Broad Market Pauses in Range Day...CMG +10% in After-hours...

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SPY, DIA, QQQ and IWM traded in a range on Wednesday, closing slightly lower and above Tuesday’s low:

• SWKS, MCHP gapped higher on positive earnings reactions leading the semiconductor industry higher as MU, TXN, AMAT, XLNX, ASML, NXPI also moved higher,
• CPRI, UNM and CTSH led the SPX with positive EPS reactions,
• CMG +54.80, +10.42% gapped up on a positive earnings reaction after the close. 

The DJIA, closed down 21 points at 25,390, led by weakness in HD, CAT, GS, MCD and DIS. 

Four of eleven sectors were higher on Wednesday, led by healthcare XLV +0.45% and technology XLK +0.34%.

SPY down .36 at 272.74 on 58.3 million shares, 45% below average volume. Down on lower volume.

VIX down .19 at 15.38 

Oil up .18 at 53.90

TLT up .06 at 121.03 on 5.1 million shares.

UNH +1.20%, AXP +1.02%, led the DJIA, 14 advancers, -7

CPRI +11.30%, UNM +5.25% and TXN +4.07%, led the SPX.

SWKS +11.49%, MCHP +7.29%, MU +5.46%, and CTSH +4.62% led the NDX.


Long term up trend intact.  3-day short term trend is up.

Up:

Down: DIA, IWM, SPY, QQQ,

Breadth weakened on Wednesday, as decliners led 1,734 to 1,143 on the NYSE and led 1,538 to 1,461 on the NASDAQ

The SPY MFC green line is in the upper zone pointed up at 98 and is short-term bullish.

Uptrend sectors: XLRE, XLC,

Neutral sectors:  XLU, XLI, XLK, XLY, XLV, XLP, XLB, XLF, XLE,

Down trend sectors:

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

3-month Intermediate Term Market Trend: Sideways

3-day Short Term Market Trend: Up

49 of 100 NDX stocks closed higher on Wednesday.

92 NDX stocks are above their 30 DMA:  DLTR, REGN, WDAY, XRAY, ROST, LULU, CELG, INCY, NFLX, AMZN, BIIB, CDNS, CTRP, EBAY, FB, GILD, PCAR, PYPL, TMUS, VRTX, WYNN, XLNX, CTAS, MELI, TXN, ULTA, VRSN, ADBE, ADSK, BMRN, HAS, INTU, MCHP, ADI, AMAT, AVGO, ISRG, KLAC, LRCX, NXPI, SNPS, FAST, JBHT, MDLZ, MNST, PAYX, SWKS, WLTW, CSX, ALXN, CTSH, EXPE, GOOGL, IDXX, KHC, MXIM, NTAP, VRSK, ALGN, ADP, CHKP, COST, CSCO, FISV, MU, SBUX, ASML, FOXA, LBTYA, BKNG, CERN, CMCSA, JD, MAR, AAL, SYMC, UAL, WDC, BIDU, MYL, WBA, AAPL, AMD, ORLY, PEP, CHTR, NVDA, INTC, SIRI, CTXS, HSIC, MSFT,

NDX Stocks to Watch on Thursday:

Moving Above 30 DMA = 0

  

Moving Below 30 DMA = 5

ATVI, EA, NTES, TSLA, TTWO,

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