SPX Gaps Up after Positive PPI Data, Then Fills the Gaps to Close Slightly Lower...Energy, Financials, Industrials Lead Sectors...

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The SPX -2.97 opened higher and closed lower after PPI reports better than expected YoY 9.8% vs. 10.3% est. and closed above 3-month resistance for the second day.  /CL and TNX closed higher, while DXY, TLT and GLD moved lower.

IWM closed higher and above 3-month resistance for the second day. 

SPY up 0.00 at 419.99, on 59.4 million shares, below average volume, unchanged on lower volume. 
VIX up .46 at 20.20
QQQ down 1.85 at 324.08

DIS, CVX, TRV, DOW led the DJIA, 15 advancers, -14

SWN, DVN, MRO, SLB led the SPX, 296 advancers

PDD, JD, ABNB, ROST led the NDX 33 advancers

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

Up:  IWM, DIA,

SPY unchanged

Down:  QQQ,

Five of eleven sectors were higher on Thursday, led by XLE, XLF and XLI.

Energy leaders:  SWN, DVN, MRO, SLB 

Financials leaders:  SCHW, LNC, CMA, CINF

Industrials leaders:  SWK, DE, MAS, GNRC

Advancers weakened on Thursday as advancers led 1,902 to 1,292 on the NYSE and led 2,499 to 2,089 on the NASDAQ.

The SPY MFC green line is pointed down slightly in the upper zone at 92.4 and is short-term bullish.  SPY opened higher and closed lower above 3-month resistance.

Uptrend sectors:   XLK, XLY, XLU, XLRE, XLI,

Neutral sectors:   XLV, XLC, XLF, XLP,

Down trend sectors:  XLE, XLB,

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

3-month Intermediate Term Market Trend: Up

3-day Short Term Market Trend: Up

33 of 100 NDX stocks closed higher on Thursday

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

NDX Stocks to Watch on Friday:

Moving Above 30 DMA = 2

CHTR, NTES,

Moving Below 30 DMA = 3

AZN, DLTR, ZM,

 

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