NDX, SPX New Closing High...RUT Closed Higher, DJI Closed Lower...PPI Report Higher than Expected...US/China Summit Begins Thursday...

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Our iBullyBear Mentoring account once again hit a new all-time Net Liq high today on strength in SOXL, MU, GOOGL and LITE on Wednesday.  If you are not employing a systematic approach to decision-making in the face of uncertainty and you want to improve your skills contact us through the iBullyBear link above.

SPX +43.29, 7,444, pulled back for about 30 minutes after the open following a higher-than-expected PPI report, before reversing up to rally to a new all-time high. Breadth was mixed as NASDAQ advancers rose 41%, but decliners still led on both the NYSE and NASDAQ exchanges.  The US/China Summit starts Thursday morning.

The PPI report was 6.0% vs 4.9% est. and Core PPI 5.2% vs. 4.3% estimate.

SPX advancers: F ON COHR AKAM HPE GEN PANW MU GLW CME GOOGL.

SPX decliners: APP FDS CEG K PODD ACN IT MRNA TECH EPAM WAT.

Earnings season is winding down this week with only 10 SPX companies reporting.  Next week retail stocks HD, TGT, TJX, WMT and ROST report.

NVDA +5.05, +2.29%, a new all-time closing high on 150.4 million shares, EPS on May 20 AMC.

MU +37.05, +4.83%, bounced above the high of the low day to an all-time closing high.

SPY +0.56%, bounce to an all-time closing high on below average volume of 44.2 million shares.

VIX -0.12, 17.87, 

NDX +1.04% move > HOLD to an all-time closing high.

DJI, 49,693, -0.14% trading range near horizontal resistance.

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

Up: QQQ, SPY, IWM,

Down: DIA,

The SPY MFC green line is flat at 98, price-action is short-term bullish. -0.2 

Six of eleven sectors (73%) were higher on Wednesday led by XLK, XLC and XLV. 

44 of 100 NDX stocks closed higher on Wednesday.

53 NDX stocks are above their 30 DMA: MRVL, ARM, AMD, CSX, FAST, AMZN, INTC, KLAC, MPWR, STX, WDC, CSCO, ADI, MCHP, TXN, AMAT, AVGO, GOOGL, LRCX, AAPL, MU, NVDA, NXPI, SBUX, MNST, CDNS, QCOM, SNPS, MSFT, MSTR, TTWO, APP, DDOG, PANW, CRWD, FTNT, KDP, TSLA, KHC, MDLZ, ADP, MDB, ZS, ASML, FER, BKR, FANG, LIN, VRTX, COST,  WBD,

NDX Stocks to Watch on Thursday

Moving Above 30 DMA = 1

WBD,  

Moving Below 30 DMA = 2

CPRT, PAYX,

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