Opening Gap Fades as SPX, NDX Close Slightly Lower...Energy, Utilities, Communication Services Lead Sectors...

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SPX -13.08, 5,868.  An opening gap faded and closed slightly lower.  Breadth was mixed on Wednesday.     

The DJI, 42,392, closed -0.36% lower.  The RUT closed +1.51, +0.07% higher.

NDX -0.17%, closed slightly below Tuesday’s low.

TSLA -24.56, -6.08%, sold off after annual deliveries were 1.789 million vs. 1.793 million consensus.  Truist lowered its price target to $351 from $360. 

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

SPY down 1.44 at 584.64, 50.2 million shares, above average volume

VIX up 0.58 at 17.93,

VIX1D up 0.13 at 15.43,

QQQ down 1.00 at 510.23

NVDA, CVX, MCD, AXP led the DJIA, 10 advancers, -6        

VST, CEG, TPL, FSLR led the SPX, 177 advancers

CEG, APP, MDB, ARM led the NDX, 44 advancers

Up:  IWM,

Down:  QQQ, SPY, DIA,

The SPY MFC green line is pointed down at 37.8 and is short-term bearish. -10.

Four of eleven sectors were higher on Thursday, led by XLE, XLU and XLC. 

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

Neutral sectors:  XLE,

Down trend sectors: XLB, XLV,

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

44 of 100 NDX stocks closed higher on Thursday.

13 NDX stocks are above their 30 DMA:  MRVL, AMZN, LULU, AVGO, GOOGL CSCO, PLTR, ROST, APP, CEG, DXCM, META, NVDA,

NDX Stocks to Watch on Friday:

Moving Above 30 DMA = 5

APP, CEG, DXCM, META, NVDA,   

Moving Below 30 DMA = 3

AAPL, GILD, TSLA,

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