SPX, NDX Close Lower while RUT, DJI Close Higher...Energy, Real Estate, Utilities Lead Sectors...AMZN, GOOGL Lead Mega-cap Pullback...

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-Wednesday was a very atypical day of variance of outcomes and sector rotation:

-with sharp drops in some technology stocks and gains in material and industrial stocks.

-SPX -16.33, opens slightly higher and closes lower while the

-VIX down .02 did not rise.

-IWM +1.87%, vs QQQ -1.73%,

-DIA +0.30%, vs SPY -0.35%.

-Sectors six up and five down,

-XLE +2.65%, XLRE +1.84%, XLU +1.70%, XLI +1.61%, XLB +1.19%, XLF +0.39%

-XLK -1.49%, XLC -1.12%, XLY -0.68%, XLV -0.39%, XLP -0.33%.

-Semiconductor stocks AMD, NVDA, QCOM, ASML, MU move down while

-MCHP, GFS, NXPI ADI, INTC, TXN, AMAT, KLAC rise.

-Regional banks rise: KRE +1.43, +3.31%

-3-month Highs: RCL, CCL, NAIL, WHR, GE, TSLA, F,

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

-Will Mega caps and technology stocks continue to pullback on Thursday or was Wednesday simply a pause day after a two-week rally?

-After hours: TSLA -1.47, -0.65%

 

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

SPY down 1.48 at 426.55, on 85.3 million shares, above average volume, down on higher volume.

VIX down .02 at 13.94, a 3-year closing low.

QQQ down 6.02 at 348.82

CAT, MMM, GS, CVX led the DJIA, 20 advancers, +3

WHR, SWK, F, MRO led the SPX, 344 advancers

WBD, MCHP, SIRI, GFS led the NDX, 32 advancers.

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

Up:   IWM, DIA,

Down:  SPY, QQQ,

Six of eleven sectors were higher on Wednesday, led by XLE, XLRE and XLU.

The SPY MFC green line is pointed up at 92.6 and is short-term bullish.  SPY opened flat, traded in a range and closed higher.

Uptrend sectors:   XLK, XLC, XLY,

Neutral sectors:  XLV, XLP, XLB, XLI, XLU, XLRE, XLE, XLF,

Down trend sectors:

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

3-month Intermediate Term Market Trend: Up

3-day Short Term Market Trend: Sideways

32 of 100 NDX stocks closed higher on Wednesday.

68 NDX stock are above their 30 DMA:  AAPL, AMZN, CPRT, ISRG, CSGP, MSFT, NVDA, LRCX, META, VRSK, DDOG, GOOG, GOOGL, AMD, CRWD, FTNT, ZS, NFLX, AMAT, ASML, KLAC, AVGO, MRVL, MU, SNPS, RIVN, TSLA, WDAY, CSCO, ADBE, TEAM, CTAS, PANW, CDNS, NXPI, TXN, ZM, ANSS, COST, EA, PDD, ATVI, INTC, QCOM, ADSK, BKR, CSX, DXCM, MCHP, ABNB, ADP, EBAY, HON, ILMN, JD, MAR, PAYX, PCAR, ALGN, BKNG, CTSH, SIRI, CMCSA, FANG, GFS, ODFL, WBA, WBD,

NDX Stocks to Watch on Thursday:

Moving Above 30 DMA = 6

CMCSA, FANG, GFS, ODFL, WBA, WBD,

Moving Below 30 DMA = 3

INTU, MNST, ROST,

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