SPX, NDX Up, Down, Up, Down, Up, Down, Up, Down Trading Channel Closed Slightly Lower as Stimulus Talks Continue...

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Earnings season continued Wednesday with ABT, APH, BIIB, KEY, VZ reporting EPS before the open.  After the close TSLA, ALGN, CSX, LRCX, WHR and XLNX reported EPS.
 
NDX -12.47, -0.11%, opened flat Wednesday morning, trading in a range and pulled back during the last 60 minutes as stimulus talks progressed but remained unresolved.  NDX closed at 11,665.  The move was led by weakness in NFLX, NVDA, AMZN and AAPL.  NDX is a bull flag price pattern.
 
SPX -7.56, -0.22%, closes at 3,435.  SPX is a 7-day pullback bull flag price pattern.
 
Two of eleven sectors were higher on Wednesday, led by XLC, XLP and XLK.
 
Communication Services leaders: TWTR, FB, IPG, VIAC
Consumer Staples leaders: EL, TSN, HRL, PM
Technology leaders: PYPL, TER, FLT, IT
 
SPY down -.65 at 342.73 on 63.5 million shares, below average volume, down on higher volume.
VIX down -.70 at 28.65
 
TRV, DIS, NKE, PG led the DJIA, 9 advancers, -15
TWTR, CB, AVY, CINF led the SPX, 173 advancers
PYPL, FB, BIDU, GOOG led the NDX, 34 advancers
 
The two-year trend term is up.  The one-year trend is up.
 
Up:
Down: QQQ, SPY, DIA, IWM,
 
Breadth weakened on Wednesday as decliners led 2,001 to 1,045 on the NYSE and led 2,219 to 1,275 on the NASDAQ
 
The SPY MFC green line is pointed down at 69.4 and is defensive.  Price action is a 7-day bull flag pullback.
 
Uptrend sectors:  XLI, XLU, XLY, XLB, XLP, XLK, XLV, XLC,
Neutral sectors:  XLRE, XLF,
Down trend sectors: XLE,
 
The 6-month intermediate trend is up.  The ten-day trend is up a little.
 
3-month Intermediate Term Market Trend: Up
3-day Short Term Market Trend: Down a little
 
34 of 100 NDX stocks closed higher on Wednesday.
 
70 NDX stocks are above their 30 DMA:   AVGO, ZM, ALXN, SGEN, WDAY, CDW, CPRT, CTAS, CTSH, IDXX, INTC, NVDA, PAYX, QCOM, SBUX, SNPS, ADP, COST, LRCX, SWKS, TXN, XLNX, KLAC, BIDU, DOCU, NXPI, XEL, SIRI, AMAT, CERN, EXC, MCHP, MELI, MXIM, PCAR, SPLK, ADBE, ADI, ALGN, ANSS, ASML, BMRN, CDNS, CHKP, CSX, ILMN, INTU, ISRG, JD, MU, PEP, PYPL, WDC, ADSK, AMZN, DLTR, ULTA, VRSK, AAPL, EBAY, MSFT, GOOGL, KHC, PDD, TTWO, ORLY, WBA, FB, ATVI, VRSN,
 
NDX Stocks to Watch on Thursday:
Moving Above 30 DMA = 2
ATVI, VRSN,
 
Moving Below 30 DMA = 8
AMD, CTXS, FAST, LULU, MDLZ, MRNA, NFLX, REGN,
 
 
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