QQQ, SPY, DIA Rally for Second Day...MRVL Leads NDX...Utilities, Staples, Real Estate Lead Sectors...

 
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QQQ, SPY and DIA opened lower and closed higher.  A late rally saw the ETFs close near their highs on Wednesday. 
 
ADP private payrolls came in above expectations and markets seemed to rally about the time the President and the Treasury Secretary spoke on the need to raise the debt ceiling and the negative consequences if it were not accomplished.  Yellen’s comments sounded like Treasury Secretary Hank Paulson’s comments in 2008.  
 
The September Jobs Report will be released Friday morning BMO and earnings season starts next Wednesday BMO on October 13 with JPM reporting.
    
 
SPX closed at 4,363 and NDX closed at 14,766.
 
SPY up 1.80 at 434.90, on 113.0 million shares, above average volume, up on higher volume.  
VIX down .30 at 21.00
QQQ up 2.29, +0.64% at 359.67
 
 
MSFT, PG, CRM, KO led the DJIA, 20 advancers, -6
ENPH, ICE, VMC, NSC led the SPX, 283 advancers.
MRVL, NTES, CSX, DOCU led the NDX, 71 advancers. 
 
The two-year trend term is up.  The one-year trend is up.
 
Up: QQQ, SPY, DIA,
Down: IWM,
 
SPY = MACD divergence setup at short-term support
DIA = MACD divergence setup at short-term support
QQQ = MACD divergence setup at 10-week support
IWM = channel bounce pauses at mid-channel
 
Eight of eleven sectors were higher, on Wednesday, led by XLU, XLP and XLRE.
 
Utilities leaders: ED, NEE, PNW, D
Consumer Staples leaders: PEP, HSY, MDLZ, CHD
Real Estate leaders: PSA, SBAC, WELL, DLR
 
Advancers weakened on Wednesday as decliners led 1,755 to 1,503 on the NYSE and led 2,756 to 1,702 on the NASDAQ.
 
The SPY MFC green line is pointed up at 18.1 and is bullish.  SPY is a MACD divergence setup at short-term support. 
 
 
Uptrend sectors:  XLF, XLK, XLV, XLY,
Neutral sectors:  XLE, XLC, XLP, XLU, XLRE, XLI, XLB,
Down trend sectors:
 
The 6-month intermediate trend is up.  The ten-day trend is sideways.
 
3-month Intermediate Term Market Trend: Sideways
3-day Short Term Market Trend: Sideways
 
71 of 100 NDX stocks closed higher on Wednesday.
 
23 NDX stocks are above their 30 DMA:  NFLX, TSLA, BKNG, MTCH, MAR, FOXA, SGEN, TCOM, KHC, DLTR, PAYX, ADP, CSX, INTC, ORLY, SIRI, TEAM, TXN, CTAS, MRVL, NTES, PEP, VRSK,
 
NDX Stocks to Watch on Thursday:
Moving Above 30 DMA = 5
CTAS, MRVL, NTES, PEP, VRSK,
 
Moving Below 30 DMA = 1
EA,
 
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