SPX, NDX Close Higher for Fourth Day as Mega-cap Stocks Move Higher...SPX 5,595 Highest Close in September...Communication Services, Consumer Discretionary, Basic Materials Lead all Sectors Higher...After-hours: ADBE Down on Q4 Guidance...

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The SPX +41.63, 5,595, opened slightly higher, pulled back 22 points before bouncing in a strong trend continuation move on Thursday, to close at its highest level in September.  VIX opened lower and closed lower.

Today’s PPI report: M/M 0.2% vs 0.2% consensus, Y/Y 1.7% vs 1.8% consensus.  Core CPI was M/M 0.3% vs 0.2% consensus, Y/Y 2.4% vs 2.4% prior month. 

The NDX +0.97%, opened flat, trended up and closed higher with a strong bounce continuation move.

NVDA +2.23, +1.91%, opened flat and moved higher as Jensen Huang comments at the Goldman technology conference on Wednesday clarified the progress and positive AI developments in NVDA’s business.

AVGO +6.29, +3.97%, opened flat, trended up also with a strong bounce continuation move and closed higher.

After-hours:  ADBE -55.84, -9.52%, earnings, revenue beat, Q4 guidance below expectations.

Mega caps META, GOOGL, NVDA, AMZN, MSFT, TSLA, AAPL rose BRK/B fell on Thursday.

SPY up 4.67 at 559.09, 51.7 million shares, below average volume

VIX down .62 at 17.07

QQQ up 4.60 at 473.22

MMM, CAT, AMZN, TRV led the DJIA, 23 advancers, +3

WBD, ORCL, KR, AXON, NEM led the SPX, 370 advancers

WBD, MELI AVGO, CHTR, ZS led the NDX, 76 advancers

Up:  IWM, QQQ, SPY, DIA,

Down: 

All eleven sectors were higher on Thursday, led by XLC, XLY and XLB.

The SPY MFC green line is pointed up at 73.3 and is short-term bullish. +3.5

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

Neutral sectors: 

Down trend sectors:  XLE,

The 6-month intermediate trend is up.  The ten-day trend is sideways.

3-month Intermediate Term Market Trend: Up

3-day Short Term Market Trend: Up

76 of 100 NDX stocks closed higher on Thursday.

66 NDX stocks are above their 30 DMA:  CTAS, GILD, AEP, CTSH, ADP, PAYX, EXC, XEL, MDLZ, KDP, PYPL, DASH, MELI, ISRG, FTNT, GEHC, COST, PANW, TTD, SBUX, ADSK, CCEP, NFLX, ADBE, CSCO, MRVL, ROP, ROST, WDAY, TTWO, BKNG, CSGP, TEAM, MAR, VRSK, MDB, PEP, MNST, AMZN, FAST, IDXX, LIN, PCAR, TMUS, TSLA, AMD, AMGN, ARM, INTU, MSFT, AAPL, ADI, ANSS, AVGO, CEG, CRWD, HON, LULU, NVDA, CDNS, CDW, META, PCAR, REGN, VRTX, WBD,

NDX Stocks to Watch on Friday:

Moving Above 30 DMA = 7

CDNS, CDW, META, PCAR, REGN, VRTX, WBD,

Moving Below 30 DMA = 1

TXN,  

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