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The SPX +18.71 gapped higher after PPI
report BMO. The SPX filled the gap and rose after the 2 pm ET FOMC
Minutes release and closed higher for a fourth day.
PPI Report
above expectations. FOMC Minutes
disclose what markets already knew three weeks ago.
Breadth weakened, remained positive on Wednesday.
Thursday: BMO CPI Report
Various Fed speakers are scheduled to speak throughout the
week.
Earnings season unofficially starts Friday, October 13 with JPM EPS.
Mega
caps NVDA, META, AMZN, GOOGL, MSFT, AAPL rose
and TSLA fell on Wednesday.
SPY up 1.78 at 436.32, on 62.3 million
shares, below average volume, closed higher on lower volume after FOMC Minutes
release.
VIX down .94 at 16.09
QQQ up 2.63 at 371.22
AMGN, BA, INTC, MSFT led the DJIA, 13 advancers, -5
CTLT, LLY, STX, AMT led the SPX, 306 advancers
ADBE, WBD, SIRI, CRWD led the NDX, 63 advancers.
The two-year trend term is sideways. The
one-year trend is up.
Up: QQQ, SPY, DIA,
Down: IWM,
Eight of eleven sectors were higher on Wednesday, led by XLRE,
XLU and XLK.
The SPY
MFC green line is pointed up at 33.6 and is short-term bullish. SPY opened higher, traded in a range and
closed higher for a fourth day.
Uptrend sectors: XLE, XLC,
XLK,
Neutral sectors: XLY, XLI, XLF, 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: Up
63 of 100 NDX stocks
closed higher on Wednesday.
54
NDX stocks are above their 30 DMA: SGEN,
PDD, CRWD, COST, META, SIRI, AMGN, EA, GEHC, GOOGL, PCAR, SNPS, TSLA, VRTX, BIIB,
REGN, ADP, AMD, CDNS, CEG, CPRT, CSGP, CSX, FAST, INTU, MCHP, MSFT, NVDA, ODFL,
PANW, TMUS, TTD, XEL, ZS, AAPL, AVGO, CHTR, CTAS, FANG, PAYX, VRSK, ADSK, AZN,
ENPH, GILD, INTC, KLAC, MRVL, NXPI, WBA, ADBE, EXC, MU, ON,
NDX Stocks to Watch on Thursday:
Moving Above 30 DMA = 4
ADBE, EXC, MU, ON,
Moving Below 30 DMA = 3
GFS, QCOM, TEAM,
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