QQQ, SPY, DIA, IWM Rise for Second Day...CSCO Positive EPS After-hours...

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Futures were down overnight and in the pre-market, which led to a lower open after:

• China reported April industrial production of 5.4% vs. 6.5% expected,
• U.S. retail sales were -0.2% vs. +0.2% expected.
• SPX move higher after a report came out that auto tariffs would be delayed.
• CSCO +2.75% after-hours reporting better than expected sales and EPS.

The DJIA, closed up 115 points at 25,648, led by strength in BA, V, AAPL, DIS and MSFT.  Closing below 26,000 for the seventh day after trading above 26,000 for the previous twenty-five trading days. 

Eight of eleven sectors were higher on Wednesday, led by communication services XLC +2.24% and technology XLK +1.09%.

SPY up 1.66 at 285.06 on 73.8 million shares, 4% above average volume. Up on lower volume.

VIX down 1.62 at 16.44

Oil up .79 at 62.13

TLT up .77 at 126.13 on 9.5 million shares. 

V +1.61%, PFE +1.21%, led the DJIA, 23 advancers, -2

COTY +9.65%, PGR +5.24% and HUM +3.65%, led the SPX.

BMRN +7.54%, GOOGL +4.08%, TTWO +3.80% and AMAT+3.72% led the NDX.

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

Up: QQQ, SPY, DIA, IWM,

Down:

Breadth weakened slightly on Wednesday, as advancers led 1,931 to 943 on the NYSE and led 1,739 to 1,304 on the NASDAQ

The SPY MFC green line is pointed down at 34 and is short-term bearish. 

Uptrend sectors: XLRE, XLU, XLP, XLY, XLK, XLI, XLC,

Neutral sectors:  XLF, XLB, XLE, XLV,

Down trend sectors:

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

3-month Intermediate Term Market Trend: Up

3-day Short Term Market Trend: Down

83 of 100 NDX stocks closed higher on Wednesday.

41 NDX stocks are above their 30 DMA:  CDNS, MDLZ, PAYX, VRSK, CHKP, CMCSA, PEP, SBUX, NTES, ALGN, ILMN, CELG, CERN, HSIC, CTAS, WYNN, CHTR, TMUS, HAS, QCOM, INTU, IDXX, MNST, XRAY, TTWO, INCY, MELI, JD, MSFT, PYPL, VRSN, WDAY, ADBE, ADSK, BMRN, CELG, COST, EA, FB, NXPI, SNPS,

NDX Stocks to Watch on Thursday:

Moving Above 30 DMA = 9

ADBE, ADSK, BMRN, CELG, COST, EA, FB, NXPI, SNPS

Moving Below 30 DMA = 2

CSX, FOXA,

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