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The SPX +26.31 opened
lower after Jobless claims report of 222K < 240K consensus was better
than expected and after Powell started speaking the CATO Institute Monetary
Policy conference about 20 minutes before the open. Another instance of good news is bad news. After a lower open the SPX reversed higher
in a choppy trading range and closed higher above Wednesday’s high.
REGN +18.85% after reporting positive
results in two drug trials.
/CL and TNX closed higher, while DXY, TLT and GLD moved
lower.
After the Close: DOCU +10.75, +18.55% and ZS +18.75, +12.16% on positive EPS reactions.
SPY up 2.60 at 400.38, on 80.8 million shares, above average volume, up on higher volume.
VIX down 1.03 at 23.61
QQQ up 1.55 at 300.52
CRM, JPM, GS, CAT led the DJIA, 24 advancers, -4
FCX, IVZ, ON, CFG led the SPX, 381 advancers
REGN, DOCU, MRNA, CRWD led the NDX 74 advancers
The two-year trend term is up. The
one-year trend down.
Up: IWM, SPY, DIA, QQQ,
Down:
Eight of eleven sectors were higher on Thursday, led by XLF, XLV and
XLB.
Financial leaders: IVZ, CFG, HBAN, KEY
Health Care leaders: REGN, MRNA, SYK, EW
Materials leaders: FCX, ALB, NUE, DD
Advancers weakened on Thursday
as advancers led 1,746 to 1,423 on the NYSE and advancers led 2,739 to 1,843 on the NASDAQ.
The SPY
MFC green line turned up at 15.1 and is short-term bullish. SPY opened lower, reversed higher in a
choppy trading range after the open and closed higher.
Uptrend sectors: XLY, XLU,
XLP,
Neutral sectors: XLF, XLV, XLI, XLRE, XLK, XLC, XLE,
Down trend sectors: XLB,
The 6-month intermediate
trend is down a little. The ten-day trend is down.
3-month Intermediate Term Market
Trend: Sideways
3-day Short Term Market Trend: Up
74 of 100 NDX stocks
closed higher on Thursday
20 NDX stocks are above their 30 DMA: ROST,
PANW, PDD, GILD, AEP, LULU, ABNB, CTAS, DXCM, JD, ORLY, PYPL, SBUX, TMUS, WDAY,
XEL, EXC, MAR, REGN, VRTX
NDX Stocks to Watch on Friday:
Moving Above 30 DMA = 4
EXC, MAR, REGN, VRTX,
Moving Below 30 DMA = 0
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