SPX Opens Lower, Closes Higher...Consumer Discretionary, Technology, Communication Services led Sectors...Bull Flag Setups: SPY, QQQ...

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-SPX +16.20, opened lower, rallied and formed a bullish engulfing candle.

-SPX was lower before Powell’s meeting with Senate Banking Committee.

-Fed speak from Waller and Mester today.

-SPX closed above Wednesday’s open,

-now a four-day bull flag setup.

-VIX down .29, a 52-week and three-year closing low.

-Breadth strengthened on Thursday.

-TSLA +5.15, +1.98% opens lower after MS downgrade, closes higher.

-Regional banks continue to fall: KRE -1.31, -3.16%, ZION -.98, -3.51%.

-There are numerous bull flag setups in NDX and SPX stocks like:

-SPY, QQQ, ISRG, MSFT, AMAT, FTNT, COST and many more.

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

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

SPY up 1.57 at 436.51, on 70.6 million shares, below average volume, up on lower volume.

VIX down .29 at 12.91

QQQ up 4.27 at 366.17,

MRK, MSFT, CRM, AAPL led the DJIA, 17 advancers, +5

FDX, DG, NRG, HCA led the SPX, 179 advancers

PANW, AMZN, DDOG, MELI led the NDX, 62 advancers.

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

Up:  QQQ, SPY,

Down:  DIA, IWM,

Five of eleven sectors were higher on Thursday, led by XLY, XLK and XLC.

The SPY MFC green line is pointed down at 84 and is counter-trend defensive.  SPY opened lower and closed high after Powell’s testimony before the Senate.

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

Neutral sectors:  XLU, XLE,

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: Down

62 of 100 NDX stocks closed higher on Thursday.

79 NDX stock are above their 30 DMA:  AAPL, AMZN, CPRT, ISRG, CSGP, MSFT, NVDA, CEG, LRCX, META, VRSK, FTNT, ZS, NFLX, AMAT, ASML, KLAC, AVGO, MRVL, SNPS, TSLA, WDAY, CSCO, ADBE, TEAM, CTAS, PANW, CDNS, NXPI, ANSS, COST, PDD, ATVI, INTC, QCOM, ADSK, BKR, CSX, DXCM, MCHP, ABNB, ADP, HON, JD, PAYX, PCAR, ALGN, SIRI, CMCSA, GFS, WBA, ADI, FAST, INTU, SGEN, LULU, REGN, ROST, VRTX, GILD, ODFL, GEHC, AMGN, EXC, IDXX, PYPL, BKNG, MAR, ORLY, AZN, DDOG, DLTR, GOOG, GOOGL, KDP, MNST, PEP, TXN, ZM,

NDX Stocks to Watch on Friday:

Moving Above 30 DMA = 10

AZN, DDOG, DLTR, GOOG, GOOGL, KDP, MNST, PEP, TXN, ZM,

Moving Below 30 DMA = 3

CTSH, RIVN, SBUX,

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