NDX, SPX, RUT, DJI Closed Higher Following Wednesday's Press Conference Selloff...Breadth Strengthened...Mega Caps and Technology Stocks Led Thursday Rally...

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SPX +85.95, 7,637 a strong positive bounce back after the press conference selloff and after the FOMC raised fed funds rate 25 basis points on Wednesday.  Breadth strengthened as advancers led on both the NYSE and the NASDAQ exchanges. 

RUT 2,874 bounced +15.82. Oil /CL fell -0.93 and closed at 101.09.  

SPX advancers: GNRC SMCI MRNA INTC HPE SWKS SNDK AMD WDAY HPQ MU.

SPX decliners: TMUS DVA PSKY CPRT CSGP CMCSA BLDR AXON RDDT VRSK.

SPY +8.55, +1.13%, above average volume of 49.6 million shares, move above the high of the low day. 

VIX -2.27, 15.44 closed lower.

NDX +1.73% moved > the HOLD and closed above its 30 DMA.

DJI, 51,778 +0.61%, formed a bullish harami candle above support.

Up: QQQ, SPY, IWM, DIA,

Down:

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

SPCX closed at 154.81, +3.93, on volume of 83.9 million shares. Our view is that SPCX, with no earnings, remains an overvalued speculation.  IPO at 135 on June 12.  In the end if buyers are greater than sellers the stock will rise.  People seem to be willing to speculate on this company’s fundamental future. 

The SPY MFC green line is down at 41.7 price-action on Thursday closed above the HOLD and re-broke out of June resistance and is short-term bullish. -2.7

Nine of eleven sectors were higher on Thursday.  XLK +2.25% led all sectors.

64 of 100 NDX stocks closed higher on Thursday.

27 NDX stocks are above their 30 DMA: WBD, GILD, SPCX, MSTR, TSLA, QCOM, AAPL, ALNY, META, AMD, INTC, APP, AZN, CRWD, FTNT, PANW, ISRG, LITE, MRVL, PLTR, DDOG, GOOGL, MSFT, MU, NXPI, SNDK, WDAY,

NDX Stocks to Watch on Friday

Moving Above 30 DMA = 7

DDOG, GOOGL, MSFT, MU, NXPI, SNDK, WDAY,

Moving Below 30 DMA = 1

KDP,  

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