QQQ Rises as SPY, DIA, IWM Pause...Real Estate, Discretionary, Health Care Lead Sectors...NVDA Gains on Positive EPS Reaction after-hours...

 
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QQQ closed higher while SPY, DIA and IWM closed lower.   
 
RIVN -25.94, -15.08% pulled back after five straight days of gains.  RIVN traded more than 400,000 contracts on its second day of options trading.
TJX +4.05, +5.83% on positive EPS reaction.
After-hours NVDA +15.10, +5.16% on positive EPS reaction.
 

Monday: trading range
Tuesday: HD, gapped up, WMT gapped down on EPS, Retails Sales beat consensu
Wednesday: LOW, TGT, TJX eps BMO, CSCO, NVDA eps AMC
Thursday: AMAT, ROST eps AMC
 
SPX closed at 4,688 and NDX closed at 16,308
 
 
SPY down 1.14 at 468.14, on 47.8 million shares, below average volume, up on lower volume.  
VIX up .74 at 17.11
QQQ up .21, +0.05% at 397.63
 
 
AAPL, HD, JNJ, BA led the DJIA, 7 advancers, -5
TJX, GM, WELL, PFE led the SPX, 162 advancers.
MRNA, TSLA, CRWD, MAR led the NDX, 37 advancers. 
 
The two-year trend term is up.  The one-year trend is up.
 
Up: QQQ, SPY, DIA, IWM,
Down:
 
SPY = bull flag bounce continuation pause
DIA = seven-day bull flag pattern
QQQ = bull flag bounce continuation
IWM = seven-day bull flag pattern
 
Four of eleven sectors were higher on Wednesday, led by XLRE, XLY and XLV.
 
Real Estate leaders: WELL, CCI, PEAK, PSA
Consumer Discretionary leaders: TJX, TSLA, GM, DHI
Health Care leaders: MRNA, PFE, BDX, CNC
 
Advancers weakened on Wednesday as decliners led 2,228 to 1,116 on the NYSE and led 3,231to 1,497 on the NASDAQ.
 
The SPY MFC green line is pointed up at 92.1 and is bullish.  SPY is a bull flag bounce continuation pause. 
 
 
Uptrend sectors:  XLK, XLB, XLI, XLY, XLP, XLRE, XLE, XLF, XLV,
Neutral sectors:  XLU, 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: Up a little
 
37 of 100 NDX stocks closed higher on Wednesday.
 
66 NDX stocks are above their 30 DMA:  TSLA, SGEN, DLTR, PAYX, ADP, CSX, PCAR, TEAM, CTAS, MRVL, NTES, PEP, VRSK, XLNX, AMD, MSFT, WDAY, ADSK, ANSS, AVGO, CPRT, CTSH, EXC, NVDA, AAPL, ADBE, COST, INTU, LULU, CDNS, DXCM, QCOM, AEP, ISRG, MDLZ, SNPS, CSCO, GOOGL, REGN, ASML, ADI, AMAT, CDW, KDP, KLAC, NXPI, PTON, ROST, SIRI, CERN, OKTA, VRSN, ALGN, LRCX, MCHP, MU, AMZN, VRTX, MNST, ORLY, JD, NFLX, FB, CMCSA, GILD, XEL,
 
NDX Stocks to Watch on Thursday:
Moving Above 30 DMA = 3
CMCSA, GILD, XEL,
 
 
Moving Below 30 DMA = 7
BIDU, EA, EBAY, HON, KHC, PDD, WBA,
 
 
 
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