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Futures, then at the open stocks fell on Wednesday morning after the ADP Employment Report came in at 330,000 versus an estimated 700,000. Communication Services and Technology lead sectors and QQQ closed higher. IWM, DIA and SPY closed lower.
After the close, ETSY -27.30, -13.51% and ROKU -36.32, -8.64% fell on a negative earnings reaction.
SPY down 2.17 at 438.98, on 46.6 million shares, below average volume, down on lower volume.
VIX down .07 at 17.97
CRM, NKE, UNH, V led the DJIA, 2 advancers, -23
The two-year trend term is up. The one-year trend is up.
Up: QQQ,
SPY = Horizontal bull flag.
Two of eleven sectors were higher on Wednesday, led by XLC, XLK and XLU.
Communication Services leaders: FB, ATVI, DISCA, LYV
Technology leaders: PAYC, AMD, ZBRA, MXIM, NVDA
Advancers weakened on Wednesday as decliners led 2,209 to 1,086 on the NYSE and led 2,856 to 1,556 on the NASDAQ.
The SPY MFC green line turned down at 90.5 and is counter-trend defensive. SPY is a pullback from new high close yesterday and a horizontal bull flag pattern.
Uptrend sectors: XLV, XLRE, XLK, XLY, XLP, XLC,
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
46 of 100 NDX stocks closed higher on Wednesday.
66 NDX stocks are above their 30 DMA: PAYX, INTU, GOOGL, IDXX, ILMN, SNPS, MRNA, REGN, DXCM, ADBE, DOCU, LULU, MSFT, TEAM, ISRG, ANSS, CDNS, QCOM, SPLK, AAPL, CPRT, MELI, ADSK, CDW, COST, ORLY, VRSK, ADP, GILD, PEP, SBUX, FAST, CHKP, CTAS, AMD, ALGN, CSCO, EXC, MRVL, HON, ASML, AVGO, CMCSA, AEP, CTSH, VRTX, XEL, AAL, AMAT, EA, KLAC, XLNX, NXPI, TSLA, TXN, ZM, CERN, CHTR, LRCX, SGEN, MCHP, NVDA, MU, FB, MXIM, OKTA, PTON, ZM,
NDX Stocks to Watch on Thursday:
Moving Below 30 DMA = 5
CSX, DLTR, MAR, MNST, SWKS,
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