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2026
SPX -44.66, 7,591 opened and closed lower, below its August 4 horizontal
breakout level. Before the open the PPI
report was M/M 0.4% vs 0.4%, Y/Y 5.4% vs 5.3% consensus, Core M/M 0.2% vs
0.3%, Y/Y 4.6% vs 4.6% consensus. CPI
report is Friday 8:30 am EDT.
Oil /CL
rose +7.26 its highest close, 103.93
since May 19. Breadth remained
negative as decliners led on both the NYSE and the NASDAQ
exchanges. The VIX rose again on Thursday
and closed at 17.84, its highest close since July 29. RUT 2,890 broke support on Thursday.
SPX
advancers: SWKS RDDT ELV CHTR AAPL F APP GDDY GM TTWO APTV.
SPX
decliners: COO BKR FCX HPE FDS LRCX VRT INTC LITE ORCL DELL.
SPY -4.57, -0.60%, on
average volume of 42.7 million shares, close below short-term support.
VIX +1.38, 17.84 closed higher for a fifth day.
NDX -1.08% closed lower.
DJI, 52,064 -0.60%, closed at
its lowest close since July 29.
Up:
Down: SPY, DIA, IWM, QQQ,
Mega caps AAPL, GOOGL, MSFT, BRK/B rose, and WMT, LLY, AMZN, AVGO, TSLA, META, TSM, NVDA, MU fell
on Thursday.
SPCX closed at 148.18, +0.63, on volume of 118.5 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 can be willing to speculate on this
company’s fundamental future.
The SPY
MFC green line turned
down at 73.2,
price-action on Thursday fell below multi-week
support and is counter-trend defensive. -2.9
Two
of eleven
sectors were higher on Thursday.
34
of 100
NDX stocks closed higher on Thursday.
23 NDX stocks are above their 30
DMA: CEG, LITE, WBD, GILD,
SPCX, MU, SNDK, KDP, MSTR, TSLA, QCOM, NVDA, AAPL, ALNY, META, CRWD, AMD, INTC,
NBIS, MRVL, STX, FANG, MELI,
NDX Stocks to Watch on Friday
Moving Above 30 DMA = 1
MELI,
Moving Below 30 DMA = 11
ARM,
ASML, BKR, CPRT, CRWV, LRCX, MSFT, PLTR, REGN, TER, WDC,
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