SPX, NDX, DJI Pullback into 4-day Trading Range as Breadth Weakened...Technology Led Sectors...NVDA, AVGO, ORCL Rose...

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SPX -41.99, 6,629, its largest decline since last Friday, pulling back into congestion, forming a short-term trading range.  Breadth weakened and turned negative as decliners led advancers on Thursday.  Government shutdown continued for a sixteenth day.  

BK, KEY, MMC, MTB, SCHW, SNA, TRV, USB reported EPS before the open.  CSX and IBKR reported after the close on Thursday.

A pullback into a short-term congestion zone or what we call a grinder.  The four-week trend is sideways, and the three- and six-month trends are still up.  Dave

NDX -0.36%, pullback into short-term congestion. 

DJI, 45,952, -0.65%, a bull flag bounce pulls back led by V, GS and TRV.

NVDA +1.98, +1.10%, breakout test.

AVGO +7.20, +2.09%, channel bounce. 

ORCL +9.38, +3.08%, channel bounce.

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

SPY down -4.53 at 660.64, 110.4 million shares, above average volume.

VIX up 4.67 at 25.31, its highest close since April 24.

QQQ down -2.23 at 599.99

CRM, PG, CAT, NVDA led DJIA, 8 advancers, -6

JBHT, MU, ON, NEM, WDC led SPX, 135 advancers,

MU, ON, KDP, ODFL led NDX, 33 advancers.

Up:  

Down: QQQ, DIA, SPY, IWM, 

The SPY MFC green line is down at 63.7, price action remains above the high of the low day September 25 in a four day grinder channel and is neutral. -7.3

One of eleven sectors was higher on Thursday led by XLK, XLV and XLRE. 

Uptrend sectors: XLK, XLU, XLV, XLI, XLC, XLY, XLF, XLE,

Neutral sectors: XLB, XLRE,

Down trend sectors: XLP,

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

3-month Intermediate Term Market Trend: Up

3-day Short Term Market Trend: Sideways

33 of 100 NDX stocks closed higher on Thursday.

47 NDX stocks are above their 30 DMA: MNST, MU, INTC, PANW, TSLA, TTWO, ASML, LRCX, DDOG, DASH, WBD, ZS, MRVL, CRWD, CEG, PLTR, AMAT, FTNT, MRVL, CSX, XEL, EA, EXC, AEP, VRTX, AMD, AMGN, ARM, AZN, TTD, GILD, PEP, AAPL, AVGO, GFS, GOOGL, KLAC, ON, ROST, ABNB, CSCO, KDP, IDXX, MCHP, CCEP, NVDA, SBUX,

NDX Stocks to Watch on Friday:

Moving Above 30 DMA = 3

CCEP, NVDA, SBUX,

Moving Below 30 DMA = 5

COST, MAR, MSFT, REGN, WDAY,

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