SPX, NDX Close Lower after Positive PPI Report...Utilities Led Sectors...INTC Leads SPX, NDX after New CEO Appointed...After-hours: ULTA Up on EPS...

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SPX -77.78, 5,521, opened lower after a better-than-expected PPI report of Y/Y 3.2% vs. 3.4% consensus and Core M/M -0.1% vs 0.3% consensus, traded in a volatile downtrend, closed lower.  VIX rose but remained well below its high on Wednesday and Thursday. 

Breadth weakened again.  The better-than-expected CPI and PPI reports and a close below Tuesday’s low suggest other concerns such as passage of government funding, tariff developments and recession fears may have been bigger influence on institutional trading on Thursday.

The DJI, 40,813, -1.30%, opened lower, continued to trend lower for the fourth straight day. NDX –1.89% opened lower, closed lower.

SMCI: -3.39, -7.98%, opened lower, pulled back and closed below its 30 DMA.

TSLA -7.41, -2.99%, opened flat, traded in a range, pulled back after Wednesday’s bounce, but stayed above the high of the low day.

INTC +3.02, +14.60%, after naming Lip-Bu Tan as new CEO.

After-hours: ULTA +20.53, +6.53%, after EPS and Sales beat

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

SPY down 7.45 at 551.42, 74.0 million shares, above average volume

VIX up .43 at 24.66

QQQ down 8.58 at 468.34

VZ, TRV, MRK, CVX led the DJIA, 10 advancers, -1

INTC, DG, DLTR, NEM led the SPX, 132 advancers,

INTC, EXC, VRTX, TMUS led the NDX, 19 advancers

Up:

Down: DIA, SPY, IWM, QQQ,

The SPY MFC green line is pointed down to 10.1 and is short-term bearish. –0.6.

One of eleven sectors was higher on Thursday, with led by XLU, XLB and XLP. 

Uptrend sectors: XLC, XLF, XLV,

Neutral sectors: XLP, XLY, XLI, XLU, XLRE, XLE,

Down trend sectors: XLK, XLB,

The 6-month intermediate trend is down.  The ten-day trend is down.

3-month Intermediate Term Market Trend:  Down

3-day Short Term Market Trend:  Down

19 of 100 NDX stocks closed higher on Thursday.

16 NDX stocks are above their 30 DMA: CDW, ISRG, AEP, EXC, AMGN, AZN, GILD, VRTX, MDLZ, MNST, EA, KDP, PDD, MU, INTC, TMUS,

NDX Stocks to Watch on Friday:

Moving Above 30 DMA = 2

INTC, TMUS,

Moving Below 30 DMA = 6

CSGP, FAST, INTU, KHC, TTWO, XEL,

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