© 2023
-CPI report m/m 0.3% vs. 0.01 prior, y/y 3.1% vs. 4.0% prior, Wed
8:30 am ET.
-Earnings season starts with six SPX companies
on Thursday.
-Breadth was
stronger on Tuesday.
-AAPL -0.53, 188.08, 6-day bull flag.
-TSLA +.18, +0.07%, breakout test and bull flag setup.
-Regional banks rallied: KRE +0.56,
+1.34%, ZION
+0.86, +2.93%.
Mega
caps META, AMZN, GOOGL, NVDA, MSFT, TSLA rose
and AAPL fell.
SPY up 2.80 at 442.46, on 64.4 million shares, below average volume, up on higher
volume.
VIX down .23 at 14.84
QQQ up 1.81 at 368.17,
MMM, CRM, WBA, BA led the DJIA, 22 advancers, -1
NWL, ETSY, APA, HPQ led the SPX, 414 advancers
ATVI, EA ABNB, SIRI led the NDX, 71 advancers.
The two-year trend term is sideways. The
one-year trend is up.
Up: IWM, DIA, SPY, QQQ,
Down:
All eleven sectors were higher on Tuesday, led by XLE, XLC and XLU.
The SPY
MFC green line is pointed down at 89.4 and is counter-trend defensive. SPY opened higher, moved above the
high of the low day and closed higher in a bull flag bounce.
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: Up a little
71 of 100 NDX stocks
closed higher on Tuesday.
79
NDX stock are above their 30 DMA: AAPL,
AMZN, ISRG, CSGP, NVDA, CEG, META, VRSK, FTNT,
NFLX, AVGO, TSLA, WDAY, CSCO, ADBE, PANW, NXPI, COST, PDD, ATVI, BKR, CSX,
DXCM, MCHP, ABNB, HON, PCAR, ALGN, SIRI, ADI,
FAST, INTU, ROST, ODFL, IDXX, PYPL, ON, ORLY, DLTR, ADP, CHTR, CMCSA,
EA, EXC, GFS, CTSH, DDOG, MAR, TMUS, WBD, LCID,
AEP, GEHC, PAYX, KDP, BKNG, FANG, JD, ADSK,
AMGN, ANSS, CDNS, CPRT, CRWD, CTAS, EBAY, ENPH, INTC, LULU, MRVL, PEP, SBUX,
SNPS, TEAM, TXN, VRTX, ZS, XEL, ZM,
NDX Stocks to Watch on Wednesday:
Moving Above 30 DMA = 2
XEL, ZM,
Moving Below 30 DMA = 4
AMAT, KLAC, LRCX, QCOM,
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