SPX Lower after FOMC Selloff Continues...All Sectors Lower...ADBE Positive EPS Reaction After hours...

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The SPX -99.57 opened lower and closed lower on Thursday after the negative reaction to Wednesday’s FOMC press conference.  Retail Sales came in below expectations and some sources reported that there were recession fears influencing today’s selloff.

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

After hours:  ADBE +15.29, +4.65% on positive EPS reaction and Q1 guidance.

SPY down 9.77 at 389.63, on 117.7 million shares, above average volume, down on higher volume.

VIX up 1.69 at 22.83

QQQ down 9.62 at 276.89

VZ led the DJIA, 1 advancer, -5

FBIN, LEN, DHI, CTRA led the SPX, 35 advancers

ALGN, TSLA led the NDX, 2 advancers

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

Up:

Down:  DIA, SPY, IWM, QQQ,

All eleven sectors were lower on Thursday, the weakest were XLB, XLK and XLC.

Advancers weakened on Thursday as decliners led 2,533 to 601 on the NYSE and led 3,434 to 1,176 on the NASDAQ.

The SPY MFC green line turned down at 67.1 and is defensive.  SPY opened lower and closed lower.

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

Neutral sectors:  XLK, XLU, XLC, XLRE,

Down trend sectors:  XLY,

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

3-month Intermediate Term Market Trend: Sideways

3-day Short Term Market Trend: Down

2 of 100 NDX stocks closed higher on Thursday

44 NDX stock are above their 30 DMA:   GILD, AMGN, KHC, ISRG, CSCO, AMAT, CSX, IDXX, MDLZ, NVDA, ROST, AZN, KLAC, XEL, AEP, ADI, ASML, AVGO, CMCSA, PDD, SBUX, SWKS, ADBE, ANSS, ATVI, JD, MSFT, SNPS, VRSN, BIDU, NTES, EXC, DXCM, META, OKTA, WDAY, SPLK, INTU, DOCU, ODFL, ALGN, DDOG, SGEN, MRNA,

NDX Stocks to Watch on Friday:

Moving Above 30 DMA = 0

Moving Below 30 DMA = 22

ADP, BKNG, CDNS, CTAS, FISV, FTNT, GOOGL, HON, LRCX, MAR, MCHP, MNST, MRVL, NFLX, NXPI, PAYX, PEP, QCOM, REGN, TXN, VRSK, WBA,

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