SPX Opens and Closes Lower after Strong Retail Sales Report...Breadth Weakens...

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The SPX -32.94 opened lower after better than expected Retails Sales Report for October, traded in a volatile range and closed lower.  A four-day tight trading range since last Thursday's strong momentum bounce following a lower than expected CPI report.

DIA, SPY and QQQ formed a spinning top and remained above short-term support.    Another breakout test, pause day.  IWM closed below short-term support.

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

SPY down 3.04 at 395.45, on 68.5 million shares, below average volume, down on lower volume.

VIX down .43 at 24.11

QQQ down 3.95 at 285.44

MCD, UNH, HD, TRV led the DJIA, 13 advancers, -5

TJX, CPB, WRB, LNC led the SPX, 157 advancers

KHC, XEL, ORLY, MNST led the NDX, 23 advancers

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

Up:

Down: DIA, SPY, QQQ, IWM,

Two of eleven sectors were higher on Wednesday, led by XLU and XLP.

Utilities leaders:  MTCH, PARA, NFLX, GOOGL

Consumer Staples leaders:  CZR, CCL, ETSY, RCL

Advancers strengthened on Wednesday as decliners led 2,076 to 1,082  on the NYSE and led 3,197 to 1,443 on the NASDAQ.

The SPY MFC green line is pointed up at 93.6 and is short-term bullish.  SPY opened lower and closed lower.

Uptrend sectors:  XLE, XLF, XLB, XLI, XLV,

Neutral sectors:  XLP,

Down trend sectors:  XLK, XLRE, XLU, XLY, 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: Down a little

23 of 100 NDX stocks closed higher on Wednesday

87 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, 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, AAPL, ADSK, AMD, ATVI, CDNS, CPRT, FISV, FTNT, JD, MRVL, MSFT, MTCH, NFLX, PYPL, QCOM, SNPS, SPLK, VRSK, VRSN, WDAY, ZM, ALGN, DOCU, BIDU, CTSH, DDOG, GOOGL, NTES, SGEN,

NDX Stocks to Watch on Thursday:

Moving Above 30 DMA = 0

Moving Below 30 DMA = 4

INTU, OKTA, PANW, ZS,

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