SPX Falls as Middle East Tension Continues to Increase...Energy, Consumer Staples Lead Sectors...After-hours: NFLX Jumps, TSLA, ZION Slide...

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The SPX -58.60 opened lower and oil opened higher after Middle East tensions continued to increase.  Eleven SPX companies reported EPS BMO.  The SPX trended down after the open and closed lower.

Fed speak from Waller, Williams, Bowman and Harker contributed to Wednesday’s intraday volatility.

Breadth was weaker and turned negative on Wednesday.  NFLX +12.83%, TSLA -4.24% and ZION -4.09% were among eleven SPX companies that reported EPS after the close.

Thursday day 6 of Q3 earnings season continues with 14 SPX companies: AAL, ALK, BX, FCX, FITB, GPC, KEY, MMC, PM, POOL, SNA, T, TFC, UNP reporting BMO and two CSX and ISRG AMC.  55 SPX companies report this week.

First day reaction: Q2 …

Positive:  NDAQ, ABT, PG, STT, BK, BAC, SCHW, PGR, WFC, UNH, JPM, FAST, WBA, = 13

Neutral: ELV, TRV, LMT, JNJ, C, DPZ = 6

Negative:  UAL, JBHT, MS, NTRS, CFG, USB, MTB, OMC, GS, PLD, BLK, PNC, DAL = 13

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

SPY down 5.81 at 430.21 on 93.5 million shares, above average volume, closed lower on higher volume. 

VIX up 1.34 at 19.22

QQQ down 4.83 at 363.37

PG, MCD, CVX, NKE led the DJIA, 6 advancers, -14

NDAQ, ABT, DVA, DINO led the SPX, 86 advancers
DXCM, PEP, MDLZ, FANG led the NDX, 14 advancers.

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

Up: 

Down:  DIA, QQQ, SPY, IWM,

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

The SPY MFC green line turned down at 41 and is short-term bearish.  SPY opened lower 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.

3-month Intermediate Term Market Trend: Down

3-day Short Term Market Trend: Down a little

14 of 100 NDX stocks closed higher on Wednesday.

41 NDX stocks are above their 30 DMA:  SGEN, PDD, CRWD, COST, META, SIRI, AMGN, EA, GOOGL, SNPS, VRTX, BIIB, ADP, CDNS, CEG, CPRT, FAST, MSFT, PANW, XEL, ZS, AVGO, CHTR, CTAS, FANG, PAYX, ENPH, GILD, KLAC, ADBE, EXC, LRCX, ORLY, DLTR, LULU, ROST, SBUX, AMAT, BKR, QCOM, MU,

NDX Stocks to Watch on Thursday:

Moving Above 30 DMA = 1

MU,

Moving Below 30 DMA = 14

AAPL, ADSK, AMD, ASML, AZN, CSGP, CSX, GEHC, INTU, MCHP, ODFL, REGN, TMUS, WBA,

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