©
2020
DoorDash, DASH opened at $182 and CS.ai, AI opened at $100 in the first day
of trading on Wednesday. Aribnb, ABNB
priced its IPO at $68 and is expected to start trading on Thursday.
NDX -271.03, -2.15%, and forms a bearish engulfing pullback after making a new closing high six days in a row.
SPX -29.43, -0.79, closed at 3,672, a pullback from its all-time closing high on Tuesday.
Three of eleven sectors were higher on Wednesday, led by XLI, XLE and XLB.
Industrials leaders: NLSN, GE, MAS, PNR
SPY down 3.32 at 366.85 on 74.0 million shares, average volume, down on higher volume.
VIX up 1.59 at 22.27
GS, MMM, HD, JNJ led the DJIA, 15 advancers, -9
The two-year trend term is up. The one-year trend is up.
Up:
Advancers weakened on Wednesday as advancers led 1,587 to 1,521 on the NYSE and decliners led 2,433 to 1,276 on the NASDAQ
The SPY MFC green line is pointed down at 97 and is counter-trend defensive. Price action is a bearish engulfing lower close pullback.
Uptrend sectors: XLU, XLB, XLI, XLY, XLP, XLV, XLF, XLC, XLK, XLE,
Down trend sectors:
The 6-month intermediate trend is up. The ten-day trend is up.
3-month Intermediate Term Market Trend: Up
3-day Short Term Market Trend: Sideways
17 of 100 NDX stocks closed higher on Wednesday.
78 NDX stocks are above their 30 DMA: QCOM, ADP, XLNX, SIRI, ALGN, GOOGL, PDD, EXPE, NXPI, PAYX, CSX, KLAC, LRCX, TXN, ADI, AMAT, CTSH, FAST, MAR, MCHP, MU, MXIM, SBUX, WBA, ASML, BKNG, CTAS, FISV, INTU, MNST, TCOM, TMUS, MRNA, WDC, CMCSA, ROST, ULTA, CHTR, CSCO, MDLZ, PEP, AVGO, COST, MELI, LBTYA, ADSK, KHC, AMD, FOXA, LULU, TSLA, DLTR, TTWO, PYPL, FB, EBAY, VRTX, AAPL, ADBE, ANSS, ATVI, BIDU, CDNS, CTXS, EA, GILD, ILMN, INTC, ISRG, SNPS, VRSN, NFLX, SWKS, AMGN, DOCU, CHKP, SGEN, CERN,
NDX Stocks to Watch on Thursday:
Moving Above 30 DMA = 0
Moving Below 30 DMA = 10
AMZN, BMRN, CDW, CPRT, DXCM, IDXX, MSFT, NTES, NVDA, WDAY,
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