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The SPX -10.41, 5,051.41, opened higher after UNH, MS reported EPS with
positive earnings reactions. Middle East
concerns cooled slightly as buying and selling pressure balances and forms a
spinning top. UNH lifts DJI to
daily gain. TNX moved higher
closing at 46.59. Powell indicates that recent data shows lack
of progress on inflation. Rate cuts are on
hold.
Wednesday Q1 day 4:
BMO: ABT, CFG, PLD, TRV, USB, AMC: CCI, CSX, DFS, EFX, KMI, LVS
Q1 First day reaction as of Tuesday:
Positive: UNH, MS, MTB, GS,
SCHW, STT, STZ = 7
Neutral: PGR, WFC = 2
Negative: NTRS, BAC, JNJ, PNC, BK, JPM,
BLK, C, KMX, FAST, DAL = 11
SMCI +93.55, +10.60%, 976.30, led the SPX after Loop
Capital raised its price target from $600 to $1,500.
NVDA +14.14, +1.64%, 874.15, opened higher and reversed as the market rolled over as
Mid-East concerns increased.
Mega caps NVDA, MSFT rose
and META, AMZN, GOOGL, AAPL, TSLA fell on Tuesday.
SPY down .92 at 503.53 on 73.3 million
shares, average volume,
VIX down .83 at 18.40
QQQ up .04 at 431.10
UNH, CRM, BA, IBM led the DJIA, 11 advancers, +1
SMCI, GL, LW, SCHW led the SPX, 152 advancers
ASML, KLAC, AMD, ORLY led the NDX, 43 advancers
Up: DIA, QQQ,
Down: SPY, IWM,
Three of eleven sectors were higher on Tuesday, led by XLK, XLP and XLV
The SPY
MFC green line is pointed down at 30.7 and is short-term bearish.
Uptrend sectors: XLE, XLC,
XLU, XLI, XLB, XLK, XLF, XLP, XLY,
Neutral sectors: XLV, XLRE,
Down trend sectors:
The 6-month intermediate
trend is up. The ten-day trend is down.
3-month Intermediate Term Market
Trend: Up
3-day Short Term Market Trend: Down
43 of 100 NDX stocks
closed higher on Tuesday.
18 NDX stocks are above their 30
DMA: CTAS,
AMZN, CEG, FANG, MU, AZN, GOOGL, KHC, KDP, XEL, DDOG, ODFL, AMAT, ASML,
AVGO, DXCM, LRCX, NFLX,
NDX Stocks to Watch on Wednesday:
Moving Above 30 DMA = 6
AMAT, ASML, AVGO, DXCM, LRCX, NFLX,
Moving Below 30 DMA = 2
AAPL, PAYX,
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