SPX Range Bound Before/After FOMC Minutes...Materials, Consumer Discretionary, Communication Services Lead Sectors...NVDA Gains After-hours...

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-SPX -6.29 opened slightly higher & traded in a range, FOMC minutes released.

-VIX closed .58 lower, perhaps unwinding of puts after release of FOMC minutes.

-NVDA +18.45, +8.89% a positive EPS reaction after-hours

 

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

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

iBB:  In our model account we maintain a net long position.  We rolled down a profitable bearish trade and added an earnings strangle.

SPY down .55 at 398.54, on 83.7 million shares, average volume, down on slightly higher volume.

VIX down .58 at 22.29

QQQ up .22 at 294.25

CRM, AXP, TRV, PG led the DJIA, 12 advancers, +11

CZR, EQT, NDSN, GRMN led the SPX, 203 advancers

PANW, CRWD, WBD, ZS led the NDX, 41 advancers.

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

Up:  IWM, QQQ,

Down:  SPY, DIA,

Three of eleven sectors were higher on Wednesday, led by XLB, XLY and XLC.

The SPY MFC green line pointed down at 64.9 and is defensive.  SPY opened slightly higher and closed lower.

Uptrend sectors:   XLY, XLK, XLC, XLF, XLI, XLRE, XLB,

Neutral sectors:  XLE, XLP, XLU, XLV,

Down trend sectors:

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

41 of 100 NDX stocks closed higher on Wednesday.

43 NDX stock are above their 30 DMA:   ALGN, BKNG, META, SGEN, WBD, ODFL, ANSS, CDNS, ADSK, ISRG, ABNB, FISV, LCID, MAR, NVDA, TEAM, CPRT, AAPL, CPRT, FAST, MCHP, MSFT, PANW, WDAY, ZS, ADI, FTNT, GFS, PCAR, TSLA, DDOG, CRWD, RIVN, LULU, ORLY, AZN, DXCM, KDP, PEP, ATVI, LULU, TMUS, CSCO, MDLZ, REGN,

NDX Stocks to Watch on Thursday:

Moving Above 30 DMA = 0

Moving Below 30 DMA = 3

COST, EXC, NXPI,

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