SPX, NDX Close Higher after Fed Minutes...Consumer Discretionary, Basic Materials, Utilities Lead Sectors...KEYS, TGT, TJX Lead SPX on Positive EPS Reactions...

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The SPX +23.73, 5,620, opened flat, traded in a range ahead of Fed minutes release at 2 pm ET and closed slightly higher.  SPX closed just 47 points below its all-time closing high on July 16.  The VIX opened higher and closed higher.

Fed minutes indicated that a vast majority of participants indicated that if data continued to be about as expected that it would likely be appropriate to ease policy in September.  The minutes were consistent with market expectations. 

The NDX +0.53%, opened slightly higher, traded in a range and closed higher.

NVDA +1.25, +0.98%, after HSBC reiterated its Buy rating and raised its price target to $145 from $135. Reports EPS Aug 28 AMC.

KEYS +19.24, +13.88%, TGT +16.04, +11.20%, TJX +6.92, +13.886.11%, led the SPX on positive EPS reactions on Wednesday.

After-hours:  A +2.81, +2.01%, SNPS +7.82, +1.38%, rose on positive earnings reactions after the close.

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

SPY up 1.92 at 560.62, 41.4 million shares, below average volume, C-pattern BO continuation

VIX up .39 at 16.27

QQQ up 2.24 at 482.50

INTC, MCD, MMM, DIS led the DJIA, 21 advancers, +3

KEYS, TGT, TJX, ALB led the SPX, 400 advancers

ROST, TTWO, MDB, CEG led the NDX, 81 advancers

Up:  IWM, QQQ, SPY, DIA,

Down:   

Ten of eleven sectors were higher on Wednesday, led by XLY, XLB and XLU.

The SPY MFC green line is pointed up at 85.6 and is short-term bullish.

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

Neutral sectors:  XLY, XLE,

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

81 of 100 NDX stocks closed higher on Wednesday.

73 NDX stocks are above their 30 DMA:  CHTR, EA, CTAS, GILD, AEP, CTSH, ILMN, ADP, PAYX, EXC, XEL, KHC, PEP, ORLY, MDLZ, KDP, PYPL, AZN, DASH, TMUS, MELI, ISRG, FTNT, PDD, REGN, GEHC, LIN, META, COST, PANW, TTD, SBUX, ADSK, ANSS, CCEP, NFLX, AVGO, KLAC, NVDA, AAPL, ADBE, CMCSA, CSCO, IDXX, INTU, MDB, MRVL, ODFL, ON, ROP, ROST, TXN, WDAY, ZS, CDNS, CEG, TTWO, AMD, ASML, SNPS, VRTX, CPRT, ADI, AMAT, AMGN, AMZN, BKNG, CDW, CSGP, DDOG, FAST, LULU, MU, TSLA,

NDX Stocks to Watch on Thursday:

Moving Above 30 DMA = 12

ADI, AMAT, AMGN, AMZN, BKNG, CDW, CSGP, DDOG, FAST, LULU, MU, TSLA,  

Moving Below 30 DMA = 1

CHTR,   

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