DJI New All-time Closing High after Powell Testifies Before Senate...RUT, SPX, NDX Bounce Higher...

 
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Futures moved lower before the open, again prior to Fed Chair Powell testifying before the Senate Banking Committee.  Selling had exhausted around 10 am ET when he began to speak, and the markets reversed off their early morning lows.  DJI 31,961, made a new all-time closing high.
 
NDX +107.48, +0.81%, bounced above the HOLD in a channel bounce.   SPX +44.06, +1.14%, closed at 3,925, a bull flag bounce above the HOLD.
 
TSLA +6.18% gapped up and moved above the HOLD in a channel bounce.
 
Nine of eleven sectors were higher on Wednesday, led by XLE, XLF and XLI. 
 
Energy leaders: OXY, EOG, HAL, COG
Financial leaders: PRU, ZION, SYF, RF
Industrials leaders: UAL, BA, AAL, IR
 
SPY up 4.27 at 391.77 on 72.4 million shares, above average volume, up on lower volume.
VIX down 1.77 at 21.34
 
BA, CVX, GS, V led the DJIA, 25 advancers, +9
NCLH, MOS, UAL, OXY led the SPX, 388 advancers.
TSLA, LRCX, AMAT, MAR led the NDX, 62 advancers.
 
The two-year trend term is up.  The one-year trend is up.
 
Up: IWM, DIA, SPY, QQQ,
Down:
 
Advancers strengthened on Wednesday as advancers led 2,168 to 1,091 on the NYSE and led 2,928 to 1,142 on the NASDAQ.
 
The SPY MFC green line is pointed down at 81.6 and is counter-trend defensive.  Price action is a bull flag bounce.
 
Uptrend sectors:  XLF, XLC, XLE, XLK, XLY, XLB, XLV, XLI, XLRE,
Neutral sectors:  XLU, XLP,
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: Up a little
 
62 of 100 NDX stocks closed higher on Wednesday.
 
48 NDX stocks are above their 30 DMA:   AMAT, ASML, AVGO, BIDU, ILMN, SWKS, INTC, KLAC, EBAY, BIIB, CTAS, GOOGL, MSFT, WDC, DXCM, MU, CDW, JD, NVDA, NXPI, PYPL, TEAM, WDAY, CMCSA, INTU, ROST, CTAS, IDXX, MCHP, MTCH, KHC, MAR, TCOM, ADI, LRCX, BKNG, FOXA, MXIM, FISV, ADP, PAYX, CSX, NFLX, ALGN, ANSS, CDNS, ORLY, SBUX, 
 
 
NDX Stocks to Watch on Thursday:
Moving Above 30 DMA = 5
ALGN, ANSS, CDNS, ORLY, SBUX, 
 
Moving Below 30 DMA = 5
ATVI, FB, NTES, OKTA, PDD,
 
 
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