SPX Blasts Off as CPI Reports Lower than Expected...Technology, Real Estate, Discretionary Soar Leading all Sectors Higher...

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The SPX +207.80 opened higher after the October CPI Report came in lower than expected and trended higher for it largest daily move in more than a year.

The October CPI Report came in lower than consensus with M/M at 0.4% below 0.7% estimate and Y/Y at 7.7% below 8.0% estimate. Futures gapped up 80+ points the moment the news hit.

In Georgia, Warnock and Walker will have a Senate runoff election on Dec. 6.  Control the House is still undetermined as votes in several races continue to be counted, however the NY Times estimates an 83% probability that the GOP will win control of the House.

DIA, SPY, QQQ and IWM gapped up and formed a larger white candle above Tuesday’s high. 

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

SPY up 20.56 at 394.69, on 141.3 million shares, above average volume, up on higher volume.

VIX down 2.56 at 23.53, volatility dropped to its lowest close since Sept. 9.

QQQ up 19.43 at 282.75

CRM, AAPL, HD, MSFT led the DJIA, 29 advancers, +28

IVZ, CZR, TROV, ETSY led the SPX, 483 advancers

MRVL, TEAM, ASML, ADSK led the NDX 98 advancers

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

Up:  QQQ, IWM, SPY, DIA,

Down:

All eleven sectors were higher on Thursday, led by XLK, XLRE and XLY.

Technology leaders:  DD, ALB, MOS, NEM

Real Estate leaders:  SEDG, FTNT, PYPL, ENPH

Consumer Discretionary leaders:  EXPD, GNRC, UNP, ODFL

Advancers strengthened on Thursday as advancers led 2,900 to 375 on the NYSE and led 3,799 to 942 on the NASDAQ.

The SPY MFC green line turned up at 76.6 and is bullish.  SPY opened significantly higher and closed significantly higher.

Uptrend sectors:  XLE, XLF, XLI, XLV,

Neutral sectors:  XLB, XLP,

Down trend sectors:  XLY, XLK, XLU, XLRE, XLC,

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

3-month Intermediate Term Market Trend: Down

3-day Short Term Market Trend: Up

98 of 100 NDX stocks closed higher on Thursday

83 NDX stock are above their 30 DMA:   BIIB, ORLY, DXCM, GILD, PCAR, AMGN, KHC, PEP, SIRI, ILMN, EA, HON, ISRG, WBA, BKNG, ADP, CTAS, CSCO, DLTR, MRNA, AMAT, CHTR, COST, CSX, IDXX, LRCX, MDLZ, MNST, NVDA, REGN, ROST, TMUS, AZN, LULU, KLAC, FAST, INTC, MU, VRTX, XEL, AEP, EBAY, MELI, ADI, ASML, AVGO, CMCSA, MAR, MCHP, NXPI, ODFL, PAYX, PDD, SBUX, SWKS, TXN, ADBE, ANSS, EXC, KDP, AAPL, ADSK, AMD, ATVI, CDNS, CPRT, FISV, FTNT, INTU, JD, MRVL, MSFT, MTCH, NFLX, PANW, PYPL, QCOM, SNPS, SPLK, VRSK, VRSN, WDAY, ZM,

NDX Stocks to Watch on Friday:

Moving Above 30 DMA = 23

AAPL, ADSK, AMD, ATVI, CDNS, CPRT, FISV, FTNT, INTU, JD, MRVL, MSFT, MTCH, NFLX, PANW, PYPL, QCOM, SNPS, SPLK, VRSK, VRSN, WDAY, ZM,

Moving Below 30 DMA = 1

SGEN,

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