SPY, QQQ All-time New Closing Highs...Financial, Energy Lead Sectors...DKS Soars on EPS Reaction...

 
 
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Both QQQ and SPY traded in a narrow trading range on Wednesday while making new all-time closing highs.  ADBE, ALGN, ASML, CDNS, CDW, CSCO (21-year high), CTSH, GOOGL, INTU, MRVL, NVDA, NXPI, OKTA, SGEN, SNPS, SPLK, VRSK and WDAY also made new highs on Wednesday.
 
DKS +15.21, +13.30%, TOL +2.62, +4.29% rose Wednesday on positive earnings reactions.
 
 
SPY up .94 at 448.91, on 38.5 million shares, below average volume, up on lower volume.  
VIX down .43 at 16.84
QQQ up .43, +0.11% at 374.80
 
 
AXP, JPM, TRV, GS led the DJIA, 15 advancers, -1
PENN, WDC, ULTA, CZR led the SPX, 357 advancers.
OKTA, MU, MCHP, PTON led the NDX, 62 advancers. 
 
The two-year trend term is up.  The one-year trend is up.
 
Up: IWM, SPY, DIA, QQQ,
Down:
 
SPY = New high close
DIA = bull flag bounce continuation
QQQ = New high close
IWM = channel bounce continuation
 
Seven of eleven sectors were higher on Wednesday, led by XLF, XLE and XLI.
 
Financial leaders: APA, OXY, DVN, FANG
Energy leaders: XLNX, NVDA, MXIM, AMD
Industrials leader: LVS, WYNN, NCLH, TPR, CZR
 
 
Advancers weakened on Wednesday as advancers led 1,897 to 1,345 on the NYSE and led 2,535 to 1,891 on the NASDAQ.
 
The SPY MFC green line turned up at 89.6 and is bullish.  SPY is a new high close. 
 
 
Uptrend sectors:  XLK, XLV, XLC, XLU, XLP, XLRE, XLF, XLY,
Neutral sectors:  XLI, XLB,
Down trend sectors: XLE,
 
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
 
62 of 100 NDX stocks closed higher on Wednesday.
 
68 NDX stocks are above their 30 DMA:  PAYX, INTU, GOOGL, ILMN, SNPS, MRNA, REGN, DXCM, ADBE, MSFT, TEAM, ISRG, CDNS, QCOM, SPLK, MELI, ADSK, CDW, COST, VRSK, AMD, ALGN, CSCO, EXC, ASML, CMCSA, AEP, CTSH, XLNX, CHTR, SGEN, MCHP, CSX, FISV, MNST, DLTR, GILD, WBA, BIIB, EBAY, MXIM, ROST, CHKP, CTAS, FAST, LULU, MRVL, NFLX, NVDA, AAPL, ANSS, FB, FOXA, NXPI, TSLA, AVGO, EA, KLAC, TCOM, VRTX, BKNG, HON, JD, OKTA, PDD, CPRT, DOCU, ORLY, PTON,
 
NDX Stocks to Watch on Thursday:
Moving Above 30 DMA = 4
CPRT, DOCU, ORLY, PTON,
 
Moving Below 30 DMA = 0
 
 
 
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