SPX Falls Broadly after Fitch Downgrades US Long Term Rating to AA+...Consumer Staples, Health Care Lead Sectors...

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Stocks fall after Fitch downgrades US Long Term Ratings to AA+ from AAA.

169 SPX companies report this week including AAPL, AMZN.

Thursday, day 16 of Q2 Earnings Season with 28 SPX companies reporting BMO: APD, APTV, BALL, BDX, CEG, CI CMI, COP, DINO, EPAM, EXPE, HAS, ICE, IRM, K, MRNA, PH, PNW, PWR, REGN, SO, SRE, TFX, TRGP, TRMB, VMC, WBD, WRK and 23 AMC: AAPL, AES, AMGN, AMZN, BIO, BKNG, CPT, CTVA, DVA, ED EOG, EXR, FTNT, GEN, GILD, LNT, MCHP, MNST MSI, REG, RMD, SYK, VTR

First day reaction: Q2 …

Positive: WAT, AFL, AIZ, HUM, CDW, BG, EMR, BXP, CVS, VRTX, TT, STE, AIF, PXD, VRSK, GRMN, MOS ABC, HKC, ANET, GPN, CAT, LDOS, ETN, SWK, SBAC, WELL MAR, MPC, ECL, ON, TROW, NWL, CINF, DLR, INTC, KLAC, FSLR, BEN MDLZ, EIX, PG, ESS, DXCM, CHD, ALGN, TXT, LRCX, RCL, STX, CMCSA, ABBV, IP, META, CARR, TSCO, WAB, KDP, IEX, PNR, AMT, MCD, UNP, BA, ODFL, GOOGL, ADP, CB,, APH, EQT, CME, OTIS, FTV, TEL, GD, KO, PKG, MSCI, GE, PHM, FFIV, MMM, NXPI, ADM, SHW, BRO, GLW, NVR, DOW, MCO, ROP, 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 = 118

Neutral: SBUX, NI, ETR, XYL, EXC, MTCH, FE, WDC, RSG, AME, FANG, PEG, INCY, SYY, RVTY, WEC, AVB, MO, TMUS, PEAK, AJG, CVX, VRSN, PTC, MAS, AWK, BSX, VLO, NSC, URI, LIN, TMO, T, HES, HLT, V, VZ, ARE, NEE, GEHC, DHR, DPZ, COF, WRB, PPG, HBAN, PM, GS, BKR, JPM, WFC, CAG, CTAS, DAL = 55

Negative:  GNRC, PAYC, SEDG, JCI, BWA, DVN, EA, AMD, ALL, CZR, DO, PSX, FIS, VFC, PRU, YUM, ZBRA, NCLH, ROK, TAP, ITW, ZBH HWM IDXX, HOLX, ES, IT, IQV, MRK, PFE, LYV, ENPH, JNPR, MHK, CNC, AON, HIG, PFG, F, CL, EMN, EQR, WY, XOM, MTD, CHTR, EBAY, CMG, EW, LUV, ROL, WTW, SPGI, BAX, WST, FTI, LHX, TYL, CBRE, HON, GWW, ORLY, UDR, BMY, LKQ, TER, XEL, NOW, MLM, ACGL, CMS, HSY, KIM, CNP, AEP, NOC, GL, VICI, MAA, HCA, RJF, MA, EG, AOS, INVH, PCG, AMP, DTE, LH, MOH, CSGP, ALLE, TDY, DGX, RHI, UHS, TXN, WM, MSFT, PI,  RTX, ALK, IVZ, LW, DOV, GM, KMB, WHR, PCAR, BIIB, AVY, CDNS, IPG, CMA, AXP, CSX, ISRG, RF, SLB, 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 = 145

Non-SPX = UBER

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

SPY down 6.35 at 450.13, on 93.8 million shares, above average volume, down on higher volume.

VIX up 2.16 at 16.09

QQQ down 8.40 at 374.39

WBA, JNJ, IBM, MRK led the DJIA, 8 advancers, -1

WAT, AFL, AIZ, HUM led the SPX, 135 advancers

VRTX, CHTR, DXCM, VRSK led the NDX, 17 advancers.

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

Up: 

Down:  DIA, IWM, SPY, QQQ,

Two of eleven sectors were higher on Wednesday, led by XLP, XLV and XLU. 

The SPY MFC green line is pointed down at 83.4 and is counter-trend defensive.  SPY opened lower, trended down and closed lower.

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 down.

3-month Intermediate Term Market Trend: Up

3-day Short Term Market Trend: Down

17 of 100 NDX stocks closed higher on Wednesday.

65 NDX stock are above their 30 DMA:  AAPL, NVDA, CEG, META, TTD, VRSK, FTNT, AVGO, WDAY, ADBE, PANW, NXPI, COST, PDD, BKR, CSX, MCHP, ABNB, PCAR, SIRI, ADI, INTU, ROST, ODFL, PYPL, ON, DLTR, ADP, CHTR, CMCSA, EXC, DDOG, MAR, PAYX, BKNG, FANG, AMGN, CTAS, MRVL, SBUX, ZM, PDD, QCOM, KDP, CSCO, FAST, KHC, MRNA, PEP, JD, ADI, CRWD, INTC, MU, GOOGL, LRCX, ZS, ALGN, AMAT, KLAC, REGN, AZN, ILMN, MDLZ, MNST, WBA, VRTX,

NDX Stocks to Watch on Thursday:

Moving Above 30 DMA = 2

WBA, VRTX,

Moving Below 30 DMA = 16

ADSK, AMD, AMZN, ANSS, EA, FTNT, IDXX, LCID, LULU, MELI, NFLX, PANW, SNPS, TEAM, TXN, WBD,

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