SPX, NDX Fall and Volatility Jumps on Wednesday, MSFT Negative EPS Reaction, Selling Hits AAPL, AMZN, FB and GOOGL...

 
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Earnings season continued after the close Wednesday with V, AMGN, NOW, GILD, CTSH, EBAY, ORLY, F, PINS, YUMC, CERN, ETSY, WDC, URI, MOH, SPWR, SFM, NOVA, RCI and RCI reporting .  Seventy-two SPX companies report earnings on Thursday.  Companies reporting before the open include CMCSA, SHOP, ICE, SPOT, GGPN, DD, BAX, KDP, KHC, UYM, MRNA, ALXN, CHD, K, IP, RCL, WAB, LKQ, PENN, DNKN, BWA, TAP, TPR, RL, HUM and ADS.
 
NDX -456.19, -3.93%, opened lower and sold off all day.  The move was led by weakness in AAPL, MSFT, AMZN, FB and GOOGL.  NDX is bouncing down falling toward multi-week support.
 
SPX -119.65, -3.53%, closes at 3,271, a 78.6 Fib retracement level falling toward 3-month support.
 
All eleven sectors were lower on Wednesday, led by XLRE, XLF and XLB.
 
Real Estate leaders: WY, DLR, EXR
Financial leaders: CB, TRV, AIZ
Materials leaders: SHW, SEE,
 
SPY down -11.56 at 326.66 on 127.0 million shares, above average volume, down on higher volume.
VIX up +6.93 at 40.28
 
TRV led the DJIA, 1 advancer, -6
GE, ROL, TT, CB led the SPX, 15 advancers
ADP, PDD, TCOM, NFLX led the NDX, 1 advancer
 
The two-year trend term is up.  The one-year trend is up.
 
Up:
Down: IWM, DIA, SPY, QQQ,
 
Breadth weakened on Wednesday as decliners led 2,834 to 268 on the NYSE and led 3,094 to 468 on the NASDAQ
 
The SPY MFC green line is pointed down at 57 and is defensive.  Price action is a break of multi-week support and reached its 78.6% Fib retracement level.
 
Uptrend sectors:  XLU, XLI, XLY, XLB, XLP, XLK, XLC, XLV,
Neutral sectors:  XLRE, XLF,
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
 
1 of 100 NDX stocks closed higher on Wednesday.
 
20 NDX stocks are above their 30 DMA:   ZM, SGEN, IDXX, QCOM, SNPS, ADP, COST, XLNX, BIDU, SIRI, EXC, MELI, SPLK, ALGN, JD, WDC, GOOGL, PDD, FB, EBAY,
 
NDX Stocks to Watch on Thursday:
Moving Above 30 DMA = 0
 
 
Moving Below 30 DMA = 36
AAPL, ADI, ADSK, ALXN, AMZN, ATVI, CDNS, CDW, CERN, CPRT, CTSH, DLTR, DOCU, EXPE, ILMN, INTU, ISRG, KLAC, LRCX, LULU, MCHP, MNST, MSFT, MU, MXIM, NVDA, NXPI, PAYX, PCAR, PEP, PYPL, REGN, SBUX, TTWO, TXN, XEL,
 
 
 
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