SPX Closes Lower after China Exports Fall and Jobless Claims are Lower than Expected...Utilities, Real Estate, Health Care Lead Sectors...

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The SPX -14.34 opened lower, after China reported overnight that exports had fallen -8.8%, its fourth monthly decline.  Bad news is bad.  Before the open Jobless Claims reported 216K vs 238K consensus, better than expected.  Good news is bad.  Both selloff reactions lead to a gap down open.  Selling exhausted and buyers took control and the SPX rallied from its intraday low, but still closed lower on Thursday.

AAPL traded lower for a second day over concerns about iPhone use restrictions by the Chinese government for employees while at work. AAPL, NVDA and TSLA did bounce off their intraday lows and closed higher than they opened.

Breadth was mixed on Thursday and remained negative.

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

SPY down 1.37 at 444.85, on 70.7 million shares, average volume, closed lower on higher volume.

VIX down .05 at 14.40

QQQ down 2.68 at 372.06

INTC, AMGN, UNH, MRK led the DJIA, 14 advancers, +6

CNC, WRK, PCG, AMT led the SPX, 209 advancers

TMUS, ODFL, AMZN, CEG led the NDX, 37 advancers.

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

Up:  DIA,

Down:  SPY, QQQ, IWM,

Five of eleven sectors were higher on Thursday, led by XLU, XLRE and XLV. 

The SPY MFC green line is pointed down at 58.1 and is short-term defensive.  SPY gapped down on the open, traded in a rising range, and closed lower.

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 up a little.

3-month Intermediate Term Market Trend: Up

3-day Short Term Market Trend: Down

37 of 100 NDX stocks closed higher on Thursday.

46 NDX stocks are above their 30 DMA:  CEG, ROST, FANG, CSCO, GOOGL, REGN, CTSH, NVDA, ODFL, BKR, INTU, SGEN, VRSK, ADBE, AMAT, CDNS, TEAM, WDAY, BKNG, CTAS, KLAC, MELI, PANW, SNPS, AMZN, INTC, MU, NFLX, ORLY, PDD, ANSS, ON, ZM, ZS, CRWD, LULU, CSGP, MSFT, ABNB, TSLA, TTD, ADP, AMGN, EXC, FTNT, TMUS,

NDX Stocks to Watch on Friday:

Moving Above 30 DMA = 5

ADP, AMGN, EXC, FTNT, TMUS,

Moving Below 30 DMA = 5

ALGN, AVGO, EBAY, ISRG, LRCX,

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