SPX Opens and Closes Lower...Health Care, Financial Lead Sectors...NFLX Leads NDX after Upgrade...

 

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The SPX -44.66 opened lower, traded in a range, and closed lower after the August Retail Sales reported better than expected M/M 0.3% vs 0.0% consensus and the Philadelphia Fed Manufacturing index reported lower than expected -9.9 vs 3.1 consensus.  SPX, SPY, QQQ, IWM, DIA each closed lower and none closed above Wednesday’s bullish harami.

DXY and TNX closed higher, while /CL, GLD and TLT moved lower.

SPY down 4.48 at 390.12, on 87.6 million shares, above average volume, up on higher volume.

VIX up .11 at 26.27

QQQ down 4.93 at 291.10

UNH, JPM GS, TRV led the DJIA, 6 advancers, -12

HUM, WYNN, PARA, ALL led the SPX, 140 advancers

NFLX, OKTA, ILMN, ALGN led the NDX 18 advancers

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

Up:

Down:  DIA, IWM, SPY, QQQ,

Two of eleven sectors were higher on Thursday, led by XLV and XLF.

Health Care leaders:  HUM, ELV, ILMN, UNH

Financial leaders:  ALL, HBAN, SYF, KEY

Advancers weakened on Thursday as decliners led 2,279 to 934 on the NYSE and decliners led 2,647 to 1,950 on the NASDAQ.

The SPY MFC green line turned down at 24.6 and is short-term bearish.  SPY opened lower, traded in a range, and closed lower.

Uptrend sectors:   XLY, XLU, XLI, XLP, XLRE, XLF, XLV, XLK,

Neutral sectors:   XLE, XLC, XLB,

Down trend sectors:

The 6-month intermediate trend is down.  The ten-day trend is down a little.

3-month Intermediate Term Market Trend: Up a little

3-day Short Term Market Trend: Down

57 of 100 NDX stocks closed higher on Thursday

15 NDX stocks are above their 30 DMA:   ROST, PANW, PDD, GILD, LULU, ABNB, DXCM, SBUX, REGN, ZS, MAR, MELI, PYPL, TSLA, NFLX,

NDX Stocks to Watch on Friday:

Moving Above 30 DMA = 1

NFLX,

Moving Below 30 DMA = 2

AEP, FTNT,

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