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The CPI report this morning came in at 9.1% > 8.8% expectations. Futures immediately sold off more than 75 points to 3,752. The SPX opened 39 points lower, fell rt 3,759 within 15 minutes, reversed to close at 3,801. SPX -17.02, closed below Tuesday’s low.
/CL, GLD and TLT closed higher, while DXY and TNX moved lower.
17 SPX EPS reports this week: PEP, DAL, FAST, CAG, CTAS, FRC, JPM MS, BK, BLK, C, PGR, PNC, STT, UNH, USB, WFC
Thursday: PPI bmo, Friday: Retail Sales, GOOGL to split 20:1
The two-year trend term is up. The one-year trend down.
Advancers were mixed on Wednesday as decliners led 1,790 to 1,389 on the NYSE and led 2,382 to 2,178 on the NASDAQ.
The SPY MFC green line is turned down at 40 and is short-term bearish. SPY continued to pull back on Wednesday.
The 6-month intermediate trend is down. The ten-day trend is down a little.
49 of 100 NDX stocks closed higher on Wednesday.
32 NDX stocks are above their 30 DMA: SGEN, MNST, BIIB, CRWD, VRTX, DLTR, TEAM, TMUS, AZN, COST, DXCM, OKTA, ORLY, KDP, KHC, MDLZ, PEP, VRSK, AMGN, GILD, SIRI, VRSN, AAPL, CDNS, CPRT, FTNT, IDXX, CTAS, LCID, QCOM, REGN, TSLA,
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