SPX, SPY, QQQ, DIA, IWM Form Bullish Harami as Buyers/Sellers Balance...Energy, Discretionary Lead Sectors...MRNA, SBUX, TSLA Lead NDX...

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The SPX +13.32 opened higher, traded in a range, and closed higher after the August PPI reported M/M -0.1 vs -0.1% consensus and Y/Y 8.7% vs 8.7% consensus.  SPX, SPY, QQQ, DIA, IWM form bullish harami.

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

SPY up 1.50 at 394.60, on 84.7 million shares, above average volume, up on lower volume.

VIX down 1.11 at 26.16

QQQ up 2.33 at 296.03

CVX, JNJ, MRK, CRM led the DJIA, 18 advancers, +18

CTRA, APA, SBUX, RCL led the SPX, 226 advancers

MRNA, SBUX, TSLA, PDD led the NDX 57 advancers

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

Up:  QQQ, IWM, SPY, DIA,

Down:

Six of eleven sectors were higher on Wednesday, led by XLE, XLY and XLU.

Energy leaders:  CTRA, APA, SWN, COP

Consumer Discretionary leaders:  SBUX, RCL, NCLH, ETSY

Utilities leaders:  NRG, SRE, SQ, CNP

Advancers strengthened significantly on Wednesday as advancers led 1,661 to 1,524 on the NYSE and decliners led 2,336 to 2,223 on the NASDAQ.

The SPY MFC green line turned down at 29.3 and is short-term bearish.  SPY gapped higher, traded in a range, and closed higher after the PPI reported as expected.

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

3-day Short Term Market Trend: Down

57 of 100 NDX stocks closed higher on Wednesday

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

NDX Stocks to Watch on Thursday:

Moving Above 30 DMA = 6

AEP, FTNT, MAR, MELI, PYPL, TSLA,

Moving Below 30 DMA = 0

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