SPX Opens Higher, Reverses after Comments from Fed Speakers, Closes Lower...All Sectors Close Lower...Jobs Report Friday BMO...

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The SPX -64.28, 5,147.21, opened higher as futures rose in Wednesday evening trading following the Fed’s Kugler speaking after the close.  Thursday BMO after the International Trade in Goods and the Jobless Claims reports came in worse than expected the futures made more strong gains.  The SPX traded in a higher range for four hours, reversed and aggressively sold off after the Fed’s Kashkari commented that he wondered if we (the Fed) should cut rates at all this year. 

Kashkari’s comments followed four other Fed speakers.  Three other Fed members spoke after the close.  A total of eight Fed members, Harker, Barkin, Goolsbee, Mester, Kashkari, O’Neill, Musalem and Kugler all spoke Thursday.  Four more Fed speakers on Friday. 

Jobs Report Friday BMO at 8:30 am ET. 

LW -19.59, -19.37%, led the SPX to the downside on a negative earnings reaction from weaker than expected results and lowered guidance.

NVDA -30.59, -3.44%, 859.05, opened higher, reversed, traded in a range and sold off in the final two hours of trading.

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

SPY down 6.34 at 513.07 on 96.7 million shares, above average volume, 

VIX up 2.02 at 16.35

QQQ down 6.75 at 435.34

CVX, WMT, DOW, TRV led the DJIA, 2 advancers, -12

CAG, SOLV, MKTX, TSN led the SPX, 71 advancers 

WBA, TSLA, MDB, MRNA led the NDX, 11 advancers

Up:  

Down:  IWM, SPY, DIA, QQQ,

All eleven sectors were down on Thursday, smallest decliners were XLE, XLU and XLP

The SPY MFC green line is pointed down at 82.9 and is counter-trend defensive.

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

Neutral sectors:  XLU, 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

11 of 100 NDX stocks closed higher on Thursday.

32 NDX stocks are above their 30 DMA:  CTAS, AMZN, DASH, NFLX, CDW, PCAR, CEG, QCOM, FANG, EXC, CPRT, MU, CSGP, BKR, AZN, DXCM, PYPL, MSFT, GOOGL, ANSS, PEP, KHC, TTD, AVGO, KDP, AEP, TTWO, ADP, META, XEL, FTNT, ODFL,

NDX Stocks to Watch on Friday:

Moving Above 30 DMA = 0

Moving Below 30 DMA = 18

ADI, AMAT, ASML, BKNG, CDNS, FAST, KLAC, LIN, LRCX, MAR, MCHP, MRVL, NVDA, ORLY, SNPS, TMUS, TXN, WBD,

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