SPX, NDX Close Higher as Buyers Control Thursday's Price Action...Energy, Industrial, Basic Materials Lead Sectors...After-hours: MCHP Higher, AKAM, EXPE Lower after Earnings...

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SPX +32.66, 5,663, opened higher, traded in a range and formed a doji that closed above Wednesday’s high in a bull flag bounce.    The DJI, 41,368 +0.62%, and NDX +0.98% also closed higher. 

Breadth was mixed as exchange and index advancers were mixed. However, net change advancing capital significantly increased in the DJI, SPX and NDX, while net change declining capital decreased in each index.

TSLA +8.60, +3.11%, closed higher.

After-hours: MCHP +3.81, +7.75%, moved higher and AKAM -1.54, -1.80%, EXPE -12.24, -7.24%, moved lower on earnings reactions.

Thursday session insight: To be a good trader, you don’t need to know the future or predict the future.  No one knows the future and if anyone suggests they know the future, they’re often trying to sell you something.  What you do need to know is the present.  As a technician, does the chart show an actionable price action in which your rules give you an edge?  If so, position size for a risk that is appropriate for your diversified portfolio.  If not, do nothing.

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

SPY up 3.91 at 565.06, 64.8 million shares, below average volume

VIX down 1.07 at 22.48,

QQQ up 4.99 at 488.29

BA, DIS, AXP, GS led the DJIA, 20 advancers, -4

AXON, EPAM, ENPH, PAYC led the SPX, 349 advancers,

AXON, APP, PLTR, MELI led the NDX, 73 advancers,

Up: IWM, QQQ, SPY, DIA,

Down:

The SPY MFC green line is pointed up at 85.9 and is short-term bullish. +1.4

Seven of eleven sectors were higher on Thursday, led by XLE XLI and XLB. 

Uptrend sectors: 

Neutral sectors: XLP, XLU, XLRE, XLF, XLC,

Down trend sectors: XLY, XLV, XLE, XLI, XLK, XLB,

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

3-month Intermediate Term Market Trend:  Down

3-day Short Term Market Trend:  Sideways

73 of 100 NDX stocks closed higher on Thursday.

76 NDX stocks are above their 30 DMA: CPRT, CCEP, COST, CRWD, CTAS, MNST, PLTR, ROST, EA, MSTR, MELI, NFLX, ADSK, AXON, BKNG, CDNS, IDXX, TTWO, CEG, INTU, ZS, ABNB, ADI, AMAT, ANSS, ARM, AVGO, DDOG, DXCM, ISRG, KLAC, LRCX, MAR, MCHP, MDB, MSFT, PANW, SNPS, TSLA, TTD, WDAY, CHTR, PYPL, CDW, ADBE, HON, NVDA, PAYX, VRSK, XEL, ADP, AMD, CTSH, GFS, MDLZ, AMZN, APP, CSCO, META, MU, NXPI, PDD, ROP, ON, CSX, GEHC, LULU, QCOM, TXN, FAST, INTC, LIN, MRVL, ODFL, PCAR, WBD,

NDX Stocks to Watch on Friday:

Moving Above 30 DMA = 7

FAST, INTC, LIN, MRVL, ODFL, PCAR, WBD,

Moving Below 30 DMA = 4

AEP, AZN, EXC, FTNT,  

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