SPX, NDX Move Lower after Negative EPS Reaction to Earnings...Utilities, Health Care, Energy Lead Sectors...ZION Positive EPS Reaction...

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-Philadelphia Fed Mfg. Index -13.5 vs. -10.2 forecast.

-Negative EPS reactions to TSLA, NFLX led the NDX, SPX lower.

-Breadth was weaker on Thursday.

-AAPL -1.97, 193.13, breakout test, re-breakout setup.

-TSLA -28.36, - 9.74%, negative EPS reaction.

-Regional banks were mixed: KRE -.18, -.38%, ZION +3.44, +9.98%.

Friday day 7 of Q2 Earnings Season with 7 SPX companies reporting BMO: AXP, CMA, HBAN, IPG, RF, ROP, SLB…

60 SPX companies report this week.

First day reaction: Q2 …

Positive:  ZION, JNJ, ABT, KEY, UAL FCX, FITB, MKTX, IBM, KMI, TRV, MMC, NTRS, USB, CFG, ELV, JBHT, MTB, SCHW, MS, BAC, BK PNC, SYF, UNH, PEP = 26

Neutral: PM, GS, BKR, JPM, WFC, CAG, CTAS, DAL = 8

Negative:  DFS, TSLA, EFX, NFLX, GPC, SNA, TFC, AAL, NEM, LVS, CCI, STLD, DHI, POOL, OMC, HAL, NDAQ, HAS, LMT, PLD, STT, C, BLK, PGR, FAST = 25

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

SPY down 3.02 at 452.18, on 70.8 million shares, below average volume, down on higher volume.  

VIX up .23 at 13.99

QQQ down 8.89 at 376.76,

JNJ, GS, BA, MRK led the DJIA, 18 advancers, -2

ZION, ALL, PGR, ABT led the SPX, 286 advancers

SIRI, CEG, XEL, TMUS led the NDX, 32 advancers.

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

Up:  DIA,

Down:  SPY, IWM, QQQ,

Seven of eleven sectors were higher on Thursday, led by XLU, XLV and XLE. 

The SPY MFC green line turned down at 94.1 and is counter-trend defensive.  SPY had a lower open and lower close.

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 a little

32 of 100 NDX stocks closed higher on Thursday.

83 NDX stock are above their 30 DMA:  AAPL, AMZN, ISRG, CSGP, NVDA, CEG, META, TTD, VRSK, FTNT, NFLX, AVGO, WDAY, ADBE, PANW, NXPI, COST, PDD, BKR, CSX, DXCM, MCHP, ABNB, HON, PCAR, 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, LULU, MRVL, SBUX, SNPS, TEAM, TXN, VRTX, ZM, MSFT, PDD, QCOM, KDP, GILD, CSCO, MELI, WBD, FAST, KHC, MDLZ, MRNA, PEP, XEL, JD, MNST,

NDX Stocks to Watch on Friday:

Moving Above 30 DMA = 2

JD, MNST,

Moving Below 30 DMA = 10

ALGN, AMAT, CRWD, GOOGL, INTC, KLAC, LRCX, PANW, TSLA, ZS,

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