SPX Pauses in Narrow Range on Wednesday...Energy, Materials, Financial Lead Sectors...PPI Report Thursday BMO...

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The SPX -9.96 opened flat and traded in a narrow 27-point range on light volume, remained above Tuesday’s S-1 level.   

NVDA -10.25, -1.12%, 908.88, paused on Wednesday and formed a dragonfly doji after a $61 bull flag bounce on Tuesday.

The PPI Report will be released Thursday at 8:30 am ET.

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

SPY down .81 at 515.97 on 55.1 million shares, below average volume, closed lower on lower volume 

VIX down .09 at 13.75

QQQ down 3.41 at 440.25

MMM, TRV, CVX, CAT led the DJIA, 18 advancers, -4

FCX, VLO, DINO, MPC led the SPX, 265 advancers 

PYPL, PDD, CPRT, PANW led the NDX, 37 advancers

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

Up:  IWM, DIA,

Down:  SPY, QQQ, 

Seven of eleven sectors were up on Wednesday, led by XLE, XLB and XLF

The SPY MFC green line is pointed up at 89.6 and is short-term bullish.

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

Neutral sectors:  XLE, XLU,

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: Up a little

37 of 100 NDX stocks closed higher on Wednesday.

61 NDX stocks are above their 30 DMA:  CTAS, ROST, REGN, META, SPLK, NVDA, AMZN, DASH, LRCX, NFLX, CDNS, ORLY, AMAT, ASML, CDW, FAST, KLAC, PCAR, ABNB, CEG, CSX, ODFL, NXPI, GEHC, ON, QCOM, TTD, FANG, AEP, MAR, CCEP, EXC, TMUS, AMD, CPRT, FTNT, MU, CSGP, MNST, BKR, TXN, AZN, DXCM, MCHP, MRNA, ADI, CRWD, HON, GILD, ADSK, CMCSA, CSCO, PYPL, ROP, COST, INTU, LULU, MSFT, PAYX, CHTR,

NDX Stocks to Watch on Thursday:

Moving Above 30 DMA = 1

CHTR,

Moving Below 30 DMA = 8  

ANSS, AVGO, DLTR, INTC, ISRG, MRVL, SNPS, TEAM,

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