SPX Opens Lower after CPI Report, Trades in Range...TSLA, NVDA among Leaders...Discretionary, Technology, Basic Materials Lead Sectors...

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-SPX -1.16 opened lower after a volatile down, up, down, up, down 50-point range  

reaction to the CPI report before the open.

-VIX closed significantly lower.

-CPI M/M 0.5% vs. 0.5% est., Y/Y 6.4% vs. 6.2% est.,

-Ex-food & energy: M/M .04% vs. .04% est., Y/Y 5.6% vs. 5.5% est.

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

Mega caps TSLA, NVDA, MSFT, AMZN, GOOGL, META, rose and AAPL fell.

iBB:  In our model account we maintain a net long position.  Entered 24 Feb LCVs.

SPY down .19 at 412.64, on 88.3 million shares, above average volume, down on higher volume.

VIX down 1.43 at 18.91

QQQ up 2.25 at 306.75

BA, NKE, CVX, JPM led the DJIA, 9 advancers, -19

APTV, ECL, ZTS, HWM led the SPX, 167 advancers

GFS, TSLA, CDNS, NVDA led the NDX, 59 advancers.

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

Up:   QQQ,

Down:  SPY, IWM, DIA,

Five of eleven sectors were higher on Tuesday, led by XLY, XLK and XLB.

The SPY MFC green line turned down at 80.5 and is counter-trend defensive.  SPY opened lower and closed slightly lower.

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

Neutral sectors: 

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

59 of 100 NDX stocks closed higher on Tuesday.

74 NDX stock are above their 30 DMA:   AVGO, ALGN, BKNG, META, SGEN, EBAY, IDXX, MU, NFLX, WBD, BKR, CHTR, AMAT, ASML, CTSH, LRCX, ODFL, ADBE, ANSS, CDNS, MELI, ADSK, AMZN, ISRG, NXPI, QCOM, ABNB, AMD, FISV, LCID, MAR, NVDA, TEAM, CPRT, AAPL, BIIB, COST, CPRT, FAST, INTU, MCHP, MRVL, MSFT, PANW, TXN, WDAY, ZS, ADI, FTNT, GFS, PCAR, REGN, TSLA, MNST, DDOG, OKTA, ZM, CRWD, RIVN, GILD, SBUX, LULU, ORLY, AZN, CTAS, DXCM, FANG, KDP, PEP, ATVI, CMCSA, ILMN, LULU, PDD, TMUS, WBA,

NDX Stocks to Watch on Wednesday:

Moving Above 30 DMA = 0

Moving Below 30 DMA = 2

DLTR, MDLZ,

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