SPY, QQQ, DIA, IWM Gap Up to Open Higher, Reverse, Close Lower...Utilities, Real Estate, Staples Lead Sectors...KR, BBY, BF/B Lead SPX on Strong EPS...

 
 
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The SPX gapped higher at the open with a break of short-term resistance and then pulled back as Jerome Powell delivered his semiannual testimony before the Senate Committee on Banking, Housing, and Urban Affairs.  IWM, SPY, DIA and QQQ opened higher and closed lower.
 
The February Jobs Report will be released Friday at 8:30 am ET.  Non-farm payrolls forecast at 390K and an unemployment rate 3.9%.
 
 
KR +11.61%, BBY +10.25%, BF/B +7.08%, on positive EPS reactions. 
 
After hours:  AVGO +9.22% on a positive EPS reaction…COST -2.91%, MRVL -2.22% on negative EPS reactions.
 
SPY down 2.18 at 435.71, on 105.5 million shares, below average volume, down on lower volume.
VIX down .26 at 30.48
QQQ down 4.96 at 342.26
 
 
WMT, AMGN, IBM, JNJ led the DJIA, 15 advancers, -14
KR, BBY, BF/B, LUMN led the SPX, 249 advancers.
SPLK, DLTR AEP, XEL led the NDX, 31 advancers.
 
The two-year trend term is up.  The one-year trend is up.
 
Up:
Down: DIA, SPY, IWM, QQQ,
 
Seven of eleven sectors were higher on Thursday, led by XLE, XLRE and XLV. 
 
Utilities leaders: PNW, ES, AEP, SO
Real Estate leaders:  IRM, PEAK, PSA, AMT
Consumer Staples leaders: KR, BF/B, WMT, MKC
 
Advancers weakened on Thursday as decliners led 1,921 to 1,390 on the NYSE and led 3,162 to 1,562 on the NASDAQ.
 
The SPY MFC green line is turned up at 45.4 and is bullish.  SPY gapped above Wednesday’s high and pulled back after Jerome Powell began his testimony before the Senate Banking Committee at 10 am ET.    
 
 
Uptrend sectors:  XLE, XLP,
Neutral sectors: XLF, XLU, XLB, XLV, XLRE, XLK,
Down trend sectors: XLY, XLI, XLC,
 
The 6-month intermediate trend is up.  The ten-day trend is down.
 
3-month Intermediate Term Market Trend: Down
3-day Short Term Market Trend: Sideways
 
31 of 100 NDX stocks closed higher on Thursday.
 
33 NDX stocks are above their 30 DMA:  ATVI, EXC, TMUS, DLTR, KHC, AZN, CDNS, COST, CRWD, FTNT, ISRG, PANW, SNPS, AEP, AMGN, IDXX, KDP, MELI, ODFL, ORLY, VRSN, WDAY, AVGO, CSCO, CSX, CTSH, DXCM, LULU, MU, PAYX, SPLK, VRTX, XEL,
 
NDX Stocks to Watch on Friday:
Moving Above 30 DMA = 3
SPLK, VRTX, XEL,
 
Moving Below 30 DMA = 12
ADP, AMD, AMZN, BIDU, CTAS, DDOG, INTC, MAR, MSFT, NVDA, ROST, TEAM,
 
 
 
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