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The SPX -8.86, 5,520, opened slightly lower and traded in a range at and above Tuesday’s
low forming an inverted hammer. The SPX
rallied after the JOLTS report came in lighter than expected this
morning. ADP private payrolls will be released Thursday BMO and the Jobs
Report on Friday BMO.
The NDX -0.20%, opened lower, traded in a range and closed lower.
NVDA -1.79, -1.66%, opened lower, traded
in a range on average volume, and closed lower.
ZS -36.06, -18.67%, after a strong Q4
beat on revenues and earnings, but Q1 & FY25 guidance came in below
expectations.
DLTR -18.09, -22.16%, Q2 miss on
revenues and earnings, lowered FY24 guidance.
Mega caps TSLA, BRK/B, META rose
and MSFT, GOOGL, AAPL, AMZN, NVDA fell on Wednesday.
SPY down 1.13 at 550.95, 47.1 million shares, below average volume, C-pattern BO test,
inverted hammer
VIX up .60 at 21.32
QQQ down 1.20 at 460.61
TRV, IBM, BA, MMM led the DJIA, 14 advancers, +8
TSLA, STX, FICO, GEV, CVS, GEHC led the SPX, 239 advancers
TSLA, MDLZ, GEHC, AMD led the NDX, 50 advancers
Up: DIA,
Down: IWM, SPY, QQQ,
Six of eleven sectors were higher on Wednesday,
led by XLU, XLP and XLY
The SPY MFC green line is pointed
down at 86.2 and is counter-trend defensive.
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 down.
3-month Intermediate Term Market
Trend: Up
3-day Short Term Market Trend: Down
50 of 100 NDX stocks
closed higher on Wednesday.
55 NDX stocks are above their 30
DMA: CTAS,
GILD, AEP, CTSH, ILMN, ADP, PAYX, EXC, XEL, KHC, ORLY, MDLZ, KDP, PYPL, AZN,
DASH, TMUS, MELI, ISRG, FTNT, REGN, GEHC, LIN, META, COST, PANW, TTD, SBUX, ADSK,
CCEP, NFLX, ADBE, CSCO, MRVL, ROP, ROST, TXN, WDAY, TTWO, CPRT, BKNG, CSGP,
LULU, CRWD, TEAM, HON, MAR, AMGN, VRSK, CSX, MDB, PEP, ADI, MNST, TSLA,
NDX Stocks to Watch on Thursday:
Moving Above 30 DMA = 3
ADI, MNST, TSLA,
Moving Below 30 DMA = 4
AAPL, AMZN, PCAR, ZS,
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