After-hours: NVDA Beats EPS, Raises Guidance...SPX Continues Bounce after Tuesday Pause...Technology, Communication Services Lead Sectors...

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The SPX +48.46 gapped up higher on the open, trended higher and closed above Tuesday’s high in a bounce continuation.  Mega caps rose with NVDA leading to an all-time closing high.  More net change dollars rotated into NVDA today than rotated out on Tuesday.

After-hours:  NVDA +30.94, +6.57%, 502.10, reported better than expected earnings, $2.70 EPS beat 2.09 est., $13.51B Sales beat $11.22B estimate.

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

SPY up 4.88 at 443.03, on 68.2 million shares, below average volume, closed higher on higher volume.  

VIX down .99 at 16.97

QQQ up 5.73 at 369.11

MRK, INTC, AAPL, MSFT led the DJIA, 22 advancers, +12

VFC, CCL, BBWI, BF/B, NFLX led the SPX, 192 advancers

TTD, CDNS, AMD, ZM led the NDX, 89 advancers.

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

Up:  QQQ, SPY, IWM, DIA,

Down: 

Ten of eleven sectors were higher on Wednesday, led by XLK, XLC and XLRE 

The SPY MFC green line turned up at 19.3 and is short-term bullish.  SPY opened higher, trended up and closed higher.

Uptrend sectors:   XLE, XLV, XLC, XLF, XLI, XLY, XLB, XLK,

Neutral sectors:  XLRE, XLP, 

Down trend sectors: XLU,

The 6-month intermediate trend is up.  The ten-day trend is down a little.

3-month Intermediate Term Market Trend: Up

3-day Short Term Market Trend: Up

89 of 100 NDX stocks closed higher on Wednesday.

38 NDX stocks are above their 30 DMA:  CEG, ROST, ADP, CHTR, CMCSA, MAR, BKNG, FANG, AMGN, KDP, CSCO, GOOGL, REGN, CTSH, TEAM, AMAT, AMZN, CRWD, KLAC, LRCX, NVDA, ODFL, PANW, BKR, MELI, MRNA, ADBE, ALGN, AZN, CDNS, CPRT, INTU, MNST, ORLY, SGEN, SNPS, VRSK, WDAY,  

NDX Stocks to Watch on Thursday:

Moving Above 30 DMA = 12

ADBE, ALGN, AZN, CDNS, CPRT, INTU, MNST, ORLY, SGEN, SNPS, VRSK, WDAY,

Moving Below 30 DMA = 0

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