SPX, NDX Close Lower as Mega-Caps Pullback...Real Estate, Financials, Energy Lead Sectors...After-hours: ROST Up, INTU Down after EPS Reports...

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The SPX -50.21, 5,570, opened higher, but sold off after comments from the Fed’s Harker and a mixed PMI Composite Flash report and a better-than-expected Existing Home Sales report.  The VIX opened higher and closed higher.

Powell will speak at the annual Jackson Hole Economic Symposium on Friday at 10 am ET.  His comments are expected to set the stage for a potential rate cut at the next FOMC announcement on September 18.

The NDX -1.68%, opened slightly higher, traded in a range and closed lower.

NVDA -4.76, -3.70%, after Rosenblatt maintains its Buy rating and its $200 price target.  Opened higher and reversed along with the broad market pullback after the first 30 minutes of trading.  Reports EPS Aug 28 AMC.

NDSN +8.25, +3.33%, on a positive EPS reaction after reporting Wednesday AMC.

After-hours:  ROST +8.50, +5.57%, rose on a positive earnings reaction INTU -15.47, -2.33%, fell on a negative earnings reaction after the close.

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

SPY down 4.40 at 556.22, 56.0 million shares, average volume, C-pattern BO continuation pause

VIX up 1.28 at 17.55

QQQ down 7.65 at 474.85

JPM, AXP, JNJ, WMT led the DJIA, 9 advancers, -12

BEN, NDSN, CNP, ARE led the SPX, 209 advancers

GILD, PDD, BKNG, PAYX led the NDX, 21 advancers

Up: 

Down:  DIA, SPY, IWM, QQQ,

Four of eleven sectors were higher on Thursday, led by XLY, XLB and XLU.

The SPY MFC green line is pointed up at 86.7 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: Down a little

21 of 100 NDX stocks closed higher on Thursday.

61 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, CSCO, IDXX, INTU, MDB, MRVL, ODFL, ROP, ROST, TXN, WDAY, ZS, CDNS, CEG, TTWO, AMD, ASML, CPRT, BKNG, CDW, CSGP, LULU,

NDX Stocks to Watch on Friday:

Moving Above 30 DMA = 0

Moving Below 30 DMA = 12

ADI, AMAT, AMGN, AMZN, CMCSA, DDOG, FAST, MU, ON, SNPS, TSLA, VRTX,

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