SPX Opens Higher after CPI Report, Trades Choppy Range, Closes Higher...Technology, Real Estate, Utilities Lead Sectors...

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-SPX +18.47, opened higher after an in-line CPI report and closed higher.

-VIX down .77

-GOOGL a 4-week channel BO on above average volume.

-After-hours EPS: U +3.03, +10.54%, DIS -4.84, -4.79%

-CPI report Core CPI in-line 5.5% vs 5.5% est.,

-PPI report Thursday 8:30 am ET. 

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

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

SPY up .73 at 412.85, on 96.1 million shares, above average volume, a 99% increase from Tuesday’s volume, up on higher volume.

VIX down .77 at 16.94.

QQQ up 3.50 at 325.14

CRM, MSFT, AAPL, IBM led the DJIA, 14 advancers, -2

AKAM, AMZN, EQIX, SEDG led the SPX, 258 advancers

DDOG, ILMN, ZS, GOOGL led the NDX, +67 advancers.

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

Up:   QQQ, IWM, SPY,

Down:  DIA,

Seven of eleven sectors were higher on Wednesday, led by XLK, XLRE and XLU.

The SPY MFC green line turned up at 74.5 and is short-term bullish.  SPY opened higher, traded in a choppy range and closed higher.

Uptrend sectors:   XLK, XLC, XLP, XLB, XLI,

Neutral sectors:  XLY, XLV, XLU, XLE, XLF, XLRE,

Down trend sectors:

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

3-month Intermediate Term Market Trend: Sideways

3-day Short Term Market Trend: Sideways

67 of 100 NDX stocks closed higher on Wednesday.

51 NDX stock are above their 30 DMA:  AAPL, MDLZ, PEP, AMZN, CPRT, ISRG, VRTX, AZN, LULU, BIIB, MNST, KHC, ORLY, EXC, DLTR, CSX, FISV, CSGP, EBAY, MAR, MSFT, NVDA, CMCSA, CTAS, FAST, HON, LRCX, META, VRSK, CTSH, DDOG, COST, DXCM, GOOG, GOOGL, AMD, BKNG, CRWD, FTNT, PANW, RIVN, ZS, NFLX, ADSK, AMAT, ASML, IDXX, KLAC, MELI, MRVL, OKTA,

NDX Stocks to Watch on Thursday:

Moving Above 30 DMA = 8

ADSK, AMAT, ASML, IDXX, KLAC, MELI, MRVL, OKTA,

Moving Below 30 DMA = 2

ABNB, PCAR,

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