NDX, DJI, SPX, RUT Closed Higher...SPCX +7% Gap Up EPS Beat...Afterhours: META up, IBM, TSLA down on EPS Beats...

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SPX +44.60, 7,757 opened and closed higher, formed a white candle.  Breadth weakened as decliners led on the NYSE and advancers led on the NASDAQ exchange.  The SPX continued to bounce.

SPX advancers: SMCI CRL BE ECHO DDOG ILMN CRWD CIEN DELL WDC VRT.

SPX decliners: ROL DXCM T LRCX NFLX EXPE CMG LVS CCI SBAC DASH.

Oil /CL fell -0.47 and closed at 97.71.

After-hours EPS:

META +23.48, +3.37, EPS $7.40 beats $5.74 Estimate, sales $64.601B beat $63.373B estimate.

IBM -6.47, -2.57%, EPS $2.95 beats $2.86 estimate, sales $17.103B beat $16.822B estimate.

TSLA -8.42, -2.18%, EPS $0.48 beats $0.43 Estimate, sales $28.046B beat $27.883B estimate.

Earnings season continues with earnings from PHM, DECK and WDC on Thursday among 75 SPX companies this week.

SPY +3.92, +0.51%, below average volume of 31.8 million shares, a white candle. 

VIX -0.63, 16.68 closed lower.

Up: QQQ, DIA, SPY, IWM,

Down:

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

SPCX closed at 159.31, +11.52, volume of 222 million shares. SPCX reached an important milestone by becoming profitable yesterday.  It reported EPS $0.35 beat $0.12 estimate, sales $14.575B beat $12.738B estimate.  That is a $58 billion annual run rate.

Our view is that SPCX, proved its ability to produce profits from its business plan.  IPO at 135 on June 12.  Investors seem to be willing to speculate on this company’s long-term fundamental future and it took a major step forward today.  Rumors continue to circulate that SpaceX may acquire TSLA. 

The SPY MFC green line turned up at 59.7, price-action bounced on Wednesday forming a white candle pattern and is short-term bullish. +2.1.

Six of eleven sectors were higher on Wednesday, XLK +1.54%. 

57 of 100 NDX stocks closed higher on Wednesday.

56 NDX stocks are above their 30 DMA: AAPL, ISRG, ADI, TXN, MSFT, MAR, SNPS, CDNS, FAST, COST, LIN, ADSK, AEP, PYPL, ADP, CCEP, CTAS, ODFL, ORLY, TRI, XEL, MRNA, AMGN, KDP, EXC, FANG, GEHC, IDXX, MDLZ, CSX, ABNB, AZN, GILD, INTU, MNST, REGN, ROST, ADBE, HON, MELI, PAYX, ROP, SBUX, WDAY, PEP, AMZN, PLTR, KHC, MCHP, NXPI, TSLA, VRTX, DDOG, MDB, MSTR, SPCX,

NDX Stocks to Watch on Thursday

Moving Above 30 DMA = 4

DDOG, MDB, MSTR, SPCX,

Moving Below 30 DMA = 2

CMCSA, PDD,

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