NDX, SPX, DJI Bounce Above the HOLD after a 3-day Pullback...

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NDX +327.59, +2.96%, bounced above the high of the low day in its 3-day bull flag setup.  The bounce was led by strength in TSLA, NVDA, PYPL, MSFT, AAPL and AMZN. 

SPX +67.12, +2.01% closes at 3,398, regained 70% of Tuesday’s 95-point selloff and bounce above the high of the low day in its bull flag setup.                                                   

 All eleven sectors were higher on Wednesday, led by XLK, XLB and XLY.

Technology leaders:  QRVO, NVDA, SWKS, PYPL

Materials leaders: SHW, LYB, NEM, PPG

Consumer Discretionary leaders: FOSL, AMZN, LOW, EBAY

SPY up +6.58 at 339.79 on 91.4 million shares, above average volume, up on lower volume.

VIX down -2.65 at 28.81

MSFT, AAPL, CRM, HD led the DJIA, 25 advancers, +21

QRVO, FOSL, ALGN, BIO led the SPX, 394 advancers

ZM, TSLA, NVDA, SKWS led the NDX, 84 advancers

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

Up: QQQ, SPY, DIA, IWM,

Down:

Breadth strengthened on Wednesday as advancers led 2,248 to 783 on the NYSE and led 2,372 to 1,066 on the NASDAQ

The SPY MFC green line is pointed down at 61.7 and is defensive.  Price action is a is bull flag bounce.

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

Neutral sectors:  XLRE, XLF, XLU,

Down trend sectors: XLE,

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

84 of 100 NDX stocks closed higher on Wednesday.

40 NDX stocks are above their 30 DMA:   CMCSA, CTAS, ORLY, CPRT, CSX, TCOM, SBUX, AVGO, FB, BKNG, ULTA, MAR, EXPE, INTU, FOXA, JD, WDAY, ZM, ROST, ALXN, ALGN, AAPL, ADBE, AMGN, AMZN, CHTR, COST, CTXS, INTC, ISRG, MDLZ, MNST, NVDA, NXPI, PAYX, PEP, QCOM, TSLA, TXN, XEL,

NDX Stocks to Watch on Thursday:

Moving Above 30 DMA = 19

AAPL, ADBE, AMGN, AMZN, CHTR, COST, CTXS, INTC, ISRG, MDLZ, MNST, NVDA, NXPI, PAYX, PEP, QCOM, TSLA, TXN, XEL,

Moving Below 30 DMA = 1

NFLX,  

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