SPX Bounces Back with Higher Close...Consumer Discretionary, Health Care, Technology Lead all Sectors Higher...After-hours NKE Falls after EPS...

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The SPX +48.40 opened higher, closed higher and recovered almost 70% of Wednesday’s late selloff.  Additional reports on Wednesday’s trading indicated that the selloff may have either been triggered by or exacerbated by the buying of SPX 0DTE put options.  This may be like a rapid selloff that occurred back on August 15.  CCL, WDC, W, RCL, ENPH, STX, UPST and AMD were among Thursday’s leading advancers.

MU +6.79, +8.63%, a positive EPS reaction after reporting Wednesday AMC.

After-hours:  NKE -14.34, -11.70%, a negative EPS reaction after reporting $2 billion in cost cuts and a ‘softer second-half revenue outlook.’  This is after FDX reduced its full-year after the close on Tuesday.

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

SPY up 4.44 at 472.70 on 86.6 million shares, above average volume, closed higher on lower volume. 

VIX down .02 at 13.65

QQQ up 4.69 at 407.77

INTC, CRM, WBA, AXP led the DJIA, 28 advancers, +28

MU, VFC, CCL, WDC, NCLH led the SPX, 455 advancers 

MU, CTAS, MRNA, DXCM led the NDX, 91 advancers.

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

Up:  IWM, QQQ, SPY, DIA,

Down:  

All eleven sectors were higher on Thursday, led by XLY, XLV and XLK.

The SPY MFC green line is pointed down at 92.1 and is counter-trend defensive. 

Uptrend sectors:   XLC, XLK, XLF, XLY, XLI, XLRE, XLB, XLE, XLV,

Neutral sectors:  XLU, XLP,

Down trend sectors:

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

3-month Intermediate Term Market Trend: Up

3-day Short Term Market Trend: Sideways

91 of 100 NDX stocks closed higher on Thursday.

88 NDX stocks are above their 30 DMA:  FAST, LULU, DLTR, INTC, AEP, AMZN, CRWD, CTAS, ROST, TMUS, ASML, DXCM, KDP, KLAC, MELI, SNPS, AMD, HON, QCOM, AAPL, AMAT, EA, KHC, LRCX, COST, CSGP, PCAR, PDD, WDAY, ZS, BKNG, DDOG, INTU, MAR, ADI, IDXX, ISRG, MCHP, ABNB, CSX, CTSH, NXPI, PYPL, TSLA, TXN, XEL, WBD, PANW, MRNA, ADSK, TEAM, REGN, AMGN, GILD, ILMN, ON, BIIB, WBA, AVGO, CMCSA, NFLX, MRVL, MU, TTD, ANSS, CDNS, FTNT, GEHC, GFS, SIRI, AZN, META, NVDA, VRTX, CSCO, ODFL, CCEP, CDW, DASH, MDB, ROP, SPLK, TTWO, BKR, FANG, GOOGL, MNST, MSFT,

NDX Stocks to Watch on Friday:

Moving Above 30 DMA = 2

MNST, MSFT,

Moving Below 30 DMA = 2

ADP, PAYX,

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