Small Caps Lead after MRNA News and GS EPS...

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NDX +12.16, +0.11% and SPX +29.04, +0.91%.  NDX is a bull flag setup.  SPX opened higher and closed higher.  SPX was a breakout continuation that gapped up to resistance and formed a doji. 

Markets opened higher on Wednesday after MRNA +5.18, +6.90% announced after the close of Tuesday that its covid-19 vaccine candidate produced “robust” immune system response in all 45 people in its clinical trial.

GS, UNH, USB, BK, OMC, PGR, and PNC reported EPS before the open Wednesday morning on the second day of earnings season.

Ten of eleven sectors were higher on Wednesday, led by XLI, XLE and XLF

Industrials leaders:  AAL, UAL, DAL, ALK

Energy leaders:  MRO, FTI, OKE, PSX

Financial leaders:  CFG, SIVB, DFS, FITB

SPY up 2.93 at 321.85 on 87.1 million shares, below average volume, up on lower volume.

VIX down 1.76 at 27.76

BA, RTX, AXP led the DJIA, 25 advancers, -5

RCL, NCLH CCL, AAL led the SPX, 419 advancers

EXPE, MAR, TCOM ULTA led the NDX, 67 advancers

The two-year trend term is up.  The one-year trend is up.

Up: IWM, SPY, DIA, QQQ,

Down:

Breadth strengthened on Wednesday as advancers led 2,535 to 466 on the NYSE and led 2,732 to 654 on the NASDAQ

The SPX MFC green line is pointed up at 77.9 and is short-term bullish.  Price action is a breakout continuation.

Uptrend sectors:  XLK, XLY, XLC, XLB, XLI, XLV, XLP,

Neutral sectors:  XLRE, XLF, XLU, XLE,

Down trend sectors:

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

3-month Intermediate Term Market Trend: Up

3-day Short Term Market Trend: Up a little

67 of 100 NDX stock closed higher on Wednesday.

83 NDX stocks are above their 30 DMA:  AMZN, CDNS, ASML, IDXX, KLAC, MSFT, NVDA, SNPS, SWKS, QCOM, AAPL, EBAY, FAST, MCHP, MELI, PYPL, SPLK, ADBE, ALGN, TSLA, BMRN, ZM, AMAT, JD, NTES, BIDU, AVGO, MXIM, TXN, LRCX, REGN, NXPI, EA, TTWO, ATVI, ILMN, ANSS, NFLX, SGEN, VRTX, AMGN, DOCU, CTXS, DXCM, PEP, VRSK, XLNX, CHKP, COST, FB, GOOGL, LBTYA, MNST, CHTR, BKNG, CSCO, CMCSA, CTSH, GILD, KHC, PCAR, DLTR, AMD, BIIB, CTAS, INCY, ISRG, LULU, NTAP, ORLY, XEL, CDW, CERN, CPRT, CSX, EXC, EXPE, FISV, MAR, MU, SIRI, TCOM, WDC,

NDX Stocks to Watch on Thursday:

Moving Above 30 DMA = 12

CDW, CERN, CPRT, CSX, EXC, EXPE, FISV, MAR, MU, SIRI, TCOM, WDC,

Moving Below 30 DMA = 2

TMUS, WDAY,

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