Earnings Rally Continues, SPX Breakout...Communication Services, Discretionary, Technology Leads Sectors...TSLA Up, UAL Down in After-hours...

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The SPX +23.21, opened flat, traded in a range to the upside and closed higher.  DXY, TLT and TNX closed higher, while /CL and GLD moved lower.

Earnings season continued this morning with positive reactions from NFLX, NDAQ, OMC, CMA neutral reactions from MTB, JBHT and negative reactions from ABT, MKTX, NTRS, BIIB, ELV, BKR.  Twenty-three SPX companies report Thursday morning.

71 SPX companies report EPS this week:  BAC, GS, PLD, SCHW, SYF, IBM, CFG, HAL, HAS, JNJ, LMT, SBNY, TFC, JBHT, NFLX, OMC, ABT, BIIB, BKR, CMA, ELV, MKTX, MTB, NDAQ, NTRS, CCI CSX, DFS, EFX, KMI, LVS, TSLA UAL, AAL, ALK, DGX, DHI, DHR DOV DOW DPZ FCX FITB HBAN, IPG, IQV KEY, MMC, NUE PM, POOL, SNA, T, TRV, TSCO, UNP, COF, ISRG, PPG, RHI, SIVB, STX, WRB, AXP, HCA, NEE, RF, ROP, SLB, TWTR, VZ

First day reaction:

Positive: NFLX, NDAQ, OMC, CMA, TFC, HAL, CFG, GS, C, STT, BK, WFC, UNH, USB, PGR, BLK, PNC, CTAS, FRC, = 19

Neutral: MTB, JBHT, LMT, HAS, SYF, BAC, MS, PEP,

Negative:  BKR, ELV, BIIB, NTRS, MKTX, ABT, IBM, SBNY, JNJ, PLD, SCHW, CAG, JPM, FAST, DAL, = 15

TSLA +5.91, +0.80%, positive EPS reaction Wednesday after-hours

UAL -2.98, -7.15%, negative EPS reaction Tuesday after-hours

SPY up 2.50 at 394.77, on 71.8 million shares, below average volume, up on lower volume.
VIX down .62 at 23.88
QQQ up 4.73 at 303.90

CRM, DIS, NKE, BA led the DJIA, 18 advancers, -10

GNRC, CDAY, NFLX, RCL led the SPX, 336 advancers

TEAM, DDOG, OKTA, MELI led the NDX, 78 advancers

The two-year trend term is up.  The one-year trend down.

Up: QQQ, IWM, SPY, DIA,

Down:  

Seven of eleven sectors were higher on Wednesday, led by XLC, XLY and XLK.

Communication Services leaders:  NFLX, DISH, GCI, META

Consumer Discretionary leaders:  RCL, CCL, ETSY, CZR

Technology leaders:  CDAY, ADSK, CRM, NOW

Advancers weakened on Wednesday as advancers led 2,197 to 1,056 on the NYSE and led 3,157 to 1,330 on the NASDAQ.

The SPY MFC green line turned up at 44.1 and is short-term bullish.  SPY opened flat, closed higher and stayed above short-term resistance on July 8.

Uptrend sectors:    

Neutral sectors:   XLP, XLV, XLE, XLU,

Down trend sectors:  XLK, XLI, XLC, XLY, XLF, XLRE, XLB,

The 6-month intermediate trend is down.  The ten-day trend is up.

3-month Intermediate Term Market Trend: Down

3-day Short Term Market Trend: Up

78 of 100 NDX stocks closed higher on Wednesday.

86 NDX stocks are above their 30 DMA:   SGEN, MNST, VRTX, DLTR, TMUS, AZN, COST, DXCM, OKTA, ORLY, KDP, KHC, PEP, VRSK, AMGN, SIRI, VRSN, AAPL, CDNS, CPRT, IDXX, CTAS, LCID, QCOM, TSLA, ADI, CHTR, ROST, SWKS, TXN, ALGN, AMZN, ATVI, CMCSA, CRWD, FISV, ISRG, MCHP, MU, NFLX, NXPI, ODFL, OKTA, PANW, SNPS, INTC, KLAC, SPLK, ABNB, ADBE, ADP, ADSK, AMAT, AMD, ANSS, ASML, AVGO, CSCO, CSX, EBAY, FTNT, GILD, GOOGL, INTU, LRCX, LULU, MAR, MDLZ, MELI, META, MRVL, MSFT, NVDA, PAYX, PCAR, PYPL, REGN, ZS, CTSH, DDOG, DOCU, EA, ILMN, MTCH, NTES, TEAM, WDAY,

NDX Stocks to Watch on Thursday:

Moving Above 30 DMA = 9

CTSH, DDOG, DOCU, EA, ILMN, MTCH, NTES, TEAM, WDAY,  

Moving Below 30 DMA = 2

BIIB, JD,

 

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