SPX Closed Slightly Higher after CPI Report Meets Consensus...Consumer Discretionary, Real Estate, Energy Lead Sectors...PPI Report Thursday BMO...

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The SPX +1.39, 5,985, opened flat, traded in a range and closed slightly higher.  The DJI closed lower at 43,958 and formed a white spinning top.  CPI report before the opening was at consensus estimates.

NDX -0.16% opened flat, traded in a range and closed slightly lower, Traded in a sideways range for the fourth day.

RUT pulled back for a second day forming a potential bull flag setup.   

ADBE +6.08, +1.15%, opened lower on a BO test, bounced in the old resistance new support area and closed higher after Tuesday’s reversal BO.

TSLA +1.75, +0.53%, after rising 39% from Tuesday to Monday, a move below the low of the high day yesterday, TSLA opened higher today, traded in a range and formed a bullish harami on second day of a bull flag pattern.

PPI report Thursday, 8:30 am ET.

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

SPY up .29  at 597.19, 46.9 million shares, above average volume,

VIX down .69 at 14.02

QQQ down .66 at 512.25

AMZN, CVX, VZ, HD led the DJIA, 18 advancers, +9             

WBD, ALB, WST, PLD, MGM led the SPX, 259 advancers

WBD, DLTR, DDOG, CHTR led the NDX, 54 advancers

Up:  DIA, SPY,

Down:  QQQ, IWM,

The SPY MFC green line turned down slightly at 94.1 and is short-term bullish while SPY remains above 597, the low of the high day.  -1.0.

Eight of eleven sectors were higher on Wednesday, led by XLY, XLRE and XLE. 

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: Sideways

54 of 100 NDX stocks closed higher on Wednesday.

62 NDX stocks are above their 30 DMA:  GILD, PAYX, DASH, TTD, ADSK, CSCO, BKNG, FAST, TMUS, ADP, ILMN, 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, CSGP, DXCM, SBUX, ADBE, MSFT, CCEP, DDOG,

NDX Stocks to Watch on Thursday:

Moving Above 30 DMA = 2

CCEP, DDOG,

Moving Below 30 DMA = 1

META,

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