NFLX Rises, TSLA, ZION Fall after EPS...Stocks Fall after Powell Speaks...All Sectors Move Lower as Breadth Remains Weak...

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The SPX -36.60 opened slightly higher, traded in a range before and during Powell’s Fed speech and trended down to a new weekly low after his speech. Clearly Powell speak added to the intraday volatility.

Fourteen SPX companies reported EPS BMO. 

Breadth was weaker and remained negative on Thursday. 

NFLX +16.05%, TSLA -9.30% and ZION -9.67% had big moves on Thursday following EPS after the close on Wednesday.

Friday day 7 of Q3 earnings season continues with 6 SPX companies: AXP, CMA, HBAN, IPG, RF, SLB reporting BMO.  55 SPX companies report this week.

First day reaction: Q2 …

Positive:  NFLX, T, LVS, EFX, UNP, FITB, NDAQ, ABT, PG, STT, BK, BAC, SCHW, PGR, WFC, UNH, JPM, FAST, WBA, = 19

Neutral: SNA, AAL, MMC, KMI, ELV, TRV, LMT, JNJ, C, DPZ = 10

Negative:  GPC, ZION, TSLA, DFS, BX, LRCX, CCI, STLD, POOL, PPG, PM, TFC, ALK, KEY, FCX, UAL, JBHT, MS, NTRS, CFG, USB, MTB, OMC, GS, PLD, BLK, PNC, DAL = 28

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

SPY down 3.78 at 426.43 on 121.2 million shares, above average volume, closed lower on higher volume. 

VIX up 2.18 at 21.40

QQQ down 3.40 at 359.97

VZ, CRM, MCD, KO led the DJIA, 7 advancers, +1

NFLX, T, DVA, LVS, EFX led the SPX, 74 advancers

NFLX, DXCM, MNST, ASML led the NDX, 16 advancers.

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

Up: 

Down:  DIA, SPY, QQQ, IWM,

All eleven sectors were lower on Thursday, the least weak were XLC, XLE and XLK.

The SPY MFC green line is pointed down at 37 and is short-term bearish.  SPY opened slightly higher and closed lower. 

Uptrend sectors:   XLE, XLC, XLK,

Neutral sectors:  XLF, XLY, XLI, XLB, XLV,

Down trend sectors:  XLU, XLRE, XLP,

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

3-month Intermediate Term Market Trend: Down

3-day Short Term Market Trend: Down

16 of 100 NDX stocks closed higher on Thursday.

33 NDX stocks are above their 30 DMA:  SGEN, PDD, CRWD, COST, META, SIRI, AMGN, EA, GOOGL, SNPS, VRTX, ADP, CDNS, CEG, FAST, MSFT, PANW, XEL, ZS, AVGO, CTAS, FANG, PAYX, GILD, ADBE, EXC, DLTR, LULU, ROST, SBUX, BKR, QCOM, NFLX,

NDX Stocks to Watch on Friday:

Moving Above 30 DMA = 1

NFLX,

Moving Below 30 DMA = 9

AMAT, BIIB, CHTR, CPRT, ENPH, KLAC, LRCX, MU, ORLY,

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