SPX Opens Lower after PPI Report Higher than Expected, Rally, Then Selloff after Fedspeak...All Sectors Move lower...

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-SPX -57.19 opened lower after the PPI report BMO and closed lower.

-VIX closed higher after a last hour selloff in the SPX.

-PPI M/M 0.7% vs. 0.4% est., Y/Y 6.0% vs. 5.5% est.

- Ex-Food & Energy: M/M 0.5% vs. 0.3% est., Y/Y 5.4% vs. 5.0% est.

-Last hour selloff correlated with Fed speak from James Bullard presentation…

-Disinflation: Progress and Prospects, Greater Jackson Chamber, TN

-It appears that Bullard’s opinions were noise that affected price.

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

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

iBB:  In our model account we maintain a net long position.  We closed or rolled 17 Feb LCVs and did not enter new 24 Feb positions.

SPY down 5.70 at 408.28, on 76.4 million shares, average volume, down on higher volume.

VIX up 1.94 at 20.17

QQQ down 5.80 at 303.30

CSCO, HD led the DJIA, 2 advancers, -14

WST, ALB, CTLT, EQT led the SPX, 74 advancers

SGEN, JD, PDD, ABNB led the NDX, 9 advancers.

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

Up:

Down:  IWM, DIA, SPY, QQQ,

All eleven sectors were lower on Thursday.

The SPY MFC green line pointed up at 82.3 and is short-term bullish.  SPY opened lower and closed lower.

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

Neutral sectors: 

Down trend sectors:

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

3-month Intermediate Term Market Trend: Up

3-day Short Term Market Trend: Sideways

9 of 100 NDX stocks closed higher on Wednesday.

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

NDX Stocks to Watch on Thursday:

Moving Above 30 DMA = 1

PDD,

Moving Below 30 DMA = 10

ASML, CTAS, DLTR, FANG, GILD, GOOG, GOOGL, INTU, REGN, TXN,

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