SPX Closes Higher...VIX Slightly Higher...Real Estate, Utilities, Consumer Staples Lead Sectors...EPS Season Continues...

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- Housing Starts 1.434M vs. 1.480M forecast.

-Breadth was mixed but slightly stronger on Wednesday.

-AAPL +1.37, 195.10, bull flag bounce continuation to breakout.

-TSLA -2.08, - 0.71%, EPS Wednesday AMC.

-Regional banks rise: KRE +1.42, +3.11%, ZION +2.03, +6.26%.

 

Thursday of Q2 Earnings Season with 16 SPX companies reporting BMO: AAL, ABT, DHI, FCX, FITB, GPC, JNJ, KEY, MKTX, MMC, NEM, PM, POOL, SNA, TFC, TRV… AMC 5: COF, CSX, ISRG, PPG, WRB.

60 SPX companies report this week.

First day reaction: Q2 …

Positive:   NTRS, USB, CFG, ELV, JBHT, MTB, SCHW, MS, BAC, BK PNC, SYF, UNH, PEP = 14

Neutral: GS, BKR, JPM, WFC, CAG, CTAS, DAL = 7

Negative:  OMC, HAL, NDAQ, HAS, LMT, PLD, STT, C, BLK, PGR, FAST = 11

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

SPY up 1.01 at 455.20, on 65.8 million shares, below average volume, up on lower volume, a 52-week high.

VIX up .46 at 13.76

QQQ down .09 at 385.65,

VZ, CRM, CSCO, KO led the DJIA, 20 advancers, -1

LUMN, NTRS, T, KEY led the SPX, 327 advancers

ZS, WBD, SIRI, CRWD led the NDX, 54 advancers.

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

Up:  IWM, DIA, SPY,

Down:  QQQ,

Eight of eleven sectors were higher on Wednesday, led by XLRE, XLU and XLP. 

The SPY MFC green line turned up at 96.4 and is short-term bullish.  SPY had a slightly higher open, trading range close higher day.

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

Neutral sectors:  XLV, XLP, 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

54 of 100 NDX stocks closed higher on Wednesday.

91 NDX stock are above their 30 DMA:  AAPL, AMZN, ISRG, CSGP, NVDA, CEG, META, TTD, VRSK, FTNT, NFLX, AVGO, TSLA, WDAY, ADBE, PANW, NXPI, COST, PDD, BKR, CSX, DXCM, MCHP, ABNB, HON, PCAR, ALGN, SIRI, ADI, INTU, ROST, ODFL, IDXX, PYPL, ON, ORLY, DLTR, ADP, CHTR, CMCSA, EA, EXC, GFS, CTSH, DDOG, MAR, TMUS, LCID, AEP, GEHC, PAYX, BKNG, FANG, ADSK, AMGN, ANSS, CDNS, CPRT, CTAS, EBAY, ENPH, INTC, LULU, MRVL, SBUX, SNPS, TEAM, TXN, VRTX, ZM, LRCX, MSFT, PDD, QCOM, AMAT, CRWD, GOOGL, KDP, KLAC, PANW, GILD, CSCO, ZS, MELI, WBD, FAST, KHC, MDLZ, MRNA, PEP, XEL,

NDX Stocks to Watch on Thursday:

Moving Above 30 DMA = 6

FAST, KHC, MDLZ, MRNA, PEP, XEL,

Moving Below 30 DMA = 3

AMD, ASML, SGEN,

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