SPX Closes Slightly Higher as QQQ, SPY Form Hammer...Energy, Industrials, Technology Lead Sectors...

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QQQ and SPY formed a hammer candle pattern.

Mega caps NVDA, GOOGL, MSFT rose, AMZN was unchanged and META, AAPL, TSLA fell on Wednesday.

SPY up .17 at 426.05, on 104.7 million shares, above average volume, closed higher on higher volume. 

VIX down -.72 at 18.22

QQQ up .83 at 355.04

INTC, CVX, CAT, DOW led the DJIA, 8 advancers, +6

NCLH, GNRC, CARR, MRO led the SPX, 234 advancers

SIRI, DXCM, ILMN PAYX led the NDX, 63 advancers.

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

Up:  IWM, QQQ, SPY,

Down:  DIA,

Four of eleven sectors were higher on Wednesday, led by XLE, XLI and XLK.

The SPY MFC green line is pointed down at 6.3 and is short-term bearish.  SPY opened higher and closed higher.

Uptrend sectors:   XLE, XLC, XLF,

Neutral sectors:  XLV, XLK,

Down trend sectors: XLY, XLI, XLU, XLB, XLRE, XLP,

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

3-month Intermediate Term Market Trend: Down

3-day Short Term Market Trend: Down

63 of 100 NDX stocks closed higher on Wednesday.

18 NDX stocks are above their 30 DMA:  CEG, SGEN, MU, PDD, CRWD, AMGN, TMUS, COST, KHC, VRTX, META, FANG, REGN, BKR, CHTR, GEHC, GFS, PCAR,

NDX Stocks to Watch on Thursday:

Moving Above 30 DMA = 5

BKR, CHTR, GEHC, GFS, PCAR,

Moving Below 30 DMA = 4

AZN, CSX, VRSK, XEL,

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