©
2024
Breadth
weakened as the SPX -36.21, 5,949, opened flat, traded in a range until
midday, then moved lower before and during Powell’s speech and conversation in
Dallas, and closed lower. The DJI
closed lower at 43,750. NDX -0.66% closed lower, in a four-day bull flag pattern.
The October PPI
report was M/M 0.2%, ex-food & energy M/M 0.3% in line with
the consensus estimate.
ADBE -2.63, -0.49%, closed
slightly lower, inside of Wednesday’s trading range after Wednesday’s BO
continuation move.
TSLA -19.06, -5.77%, after
rising 39% from Tuesday to Monday, a move below Wednesday’s low, on the third
pull back day of a bull flag pattern.
Mega caps AAPL, MSFT, NVDA rose and BRK/B, META, AMZN, GOOGL, TSLA fell on Thursday.
SPY down 3.84 at 593.35, 38.7 million
shares, below average volume.
VIX up .29 at 14.31
QQQ down 3.56 at 508.69
DIS, CVX, AAPL, MMM led the DJIA, 12 advancers, -6
TPR,
WYNN, FSLR, ENPH led the SPX, 141 advancers
DXCM, ASML, DDOG, QCOM led the NDX, 30 advancers
Up:
Down: DIA, SPY, QQQ, IWM,
The SPY
MFC green line is pointed down at 90.8 and is counter-trend defensive.
-3.3.
One
of eleven
sectors was higher on Thursday, led by XLE, XLC and XLP.
Uptrend sectors: XLF, XLC, XLI,
XLK, XLU, XLB, XLY, XLRE, XLP, XLV,
Neutral sectors: 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
30 of 100 NDX stocks closed higher on Thursday.
60 NDX stocks are above their 30
DMA: GILD, PAYX, DASH, TTD, ADSK, CSCO, BKNG, FAST, TMUS, ADP, MRVL,
NVDA, LULU, TEAM, PANW, TTWO, MNST, EA, ISRG, NFLX, CMCSA, BKR, TSLA, GOOGL,
ODFL, CDNS, SNPS, CHTR, VRSK, VRTX, WBD, XEL, AMZN, ANSS, CRWD, INTU, ZS, PCAR,
COST, CSX, CTAS, GFS, INTC, MAR, MDB, WDAY, CPRT, CTSH, FTNT, HON, ORLY, PYPL,
ROP, TXN, DXCM, SBUX, ADBE, MSFT, CCEP, DDOG,NDX Stocks to Watch on Friday:
Moving Above 30 DMA = 0
Moving Below 30 DMA = 2
CSGP,
ILMN,
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