SPX Closed Slightly Higher in Choppy Range after CPI Drops...Energy, Real Estate, Communication Services Lead Sectors...

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-The SPX +13.56 opened higher, choppy range and closed higher.

-IWM, DIA, QQQ and SPY closed higher and above its 30 DMA.

-VIX fell.

 

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

Mega caps were mixed on Thursday NVDA, META, MSFT, TSLA, AMZN rose,

GOOGL, GOOG, AAPL fell. SOXL +3.63%

 

The CPI report released at 8:30 am ET.  was M/M -0.1% vs. 0.0% expected and

Y/Y 6.5% vs 6.5% expected.  The report came in at consensus or better and

resulted in very choppy price action with only modest gains in the SPX.

iBB:  In our model account we maintain a net long position.  We had 9 LCV positions hit their target profit which did reduce our January 12 risk exposure over 70%, and we increased our Jan 20 risk exposure with new positions.

SPY up 1.44 at 396.96, on 90.1 million shares, above average volume, up on higher volume.

VIX down 2.26 at 18.83

QQQ up 1.50 at 279.05

DIS, CRM, BA, HON led the DJIA, 19 advancers, -3

AAL, UAL, RCL, NCLH led the SPX, 279 advancers

MELI, CTSH, LCID, WBD led the NDX, 56 advancers.

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

Up:  IWM, DIA, QQQ, SPY,

Down:

Eight of eleven sectors were higher on Thursday, led by XLE, XLRE and XLC.

The SPY MFC green line is pointed up at 47.6 and is short-term bullish.  SPY opened slightly higher and closed slightly higher.

Uptrend sectors:   XLB, XLI, XLF, XLE, XLU, XLRE, XLC, XLV, XLP, XLK,

Neutral sectors:  XLY,

Down trend sectors:

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

3-month Intermediate Term Market Trend: Up

3-day Short Term Market Trend: Up

56 of 100 NDX stocks closed higher on Thursday.

66 NDX stock are above their 30 DMA:   KHC, ROST, AZN, AVGO, ATVI, EXC, ALGN, BKNG, META, SGEN, CMCSA, JD, PDD, PYPL, SBUX, EBAY, IDXX, MU, NFLX, WBD, BKR, CHTR, AEP, AMAT, ASML, CSCO, CSX, CTSH, FANG, INTC, KLAC, LRCX, ODFL, TMUS, TXN, VRSK, XEL, ADBE, ADI, ANSS, CDNS, MCHP, MELI, ADSK, AMZN, COST, DLTR, ISRG, NXPI, PCAR, QCOM, ABNB, AMD, BIIB, CSGP, EA, FAST, FISV, INTU, LCID, MAR, NVDA, PAYX, TEAM, CPRT, HON,

NDX Stocks to Watch on Friday:

Moving Above 30 DMA = 2

CPRT, HON,

Moving Below 30 DMA = 6

AMGN, CTAS, GILD, ILMN, MDLZ, MNST,

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