Support Holds as Late Rally Sends SPX to a Higher Close...Energy Leads All Sectors Higher...SPOT begins Public Trading....

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For the second day in a row, stocks staged a late rally rising into the close.  The SPX rallied 1.29% from its afternoon low to the close.  This was after a 1.1% from the afternoon low to the close on Monday.

After opening at 165.90 SPOT (Spotify) closed at 149.01 on its first day of trading following its direct listing on the NYSE.

The DJIA, closed up 389 points at 24,033, led by strength in BA, UNH, JNJ, MMM, GS, MCD, CVX, NKE and TRV.  

All ten sectors were higher on Tuesday, led by energy XLU +2.13% and healthcare XLV +1.52%.

SPY up 3.30 at 260.77 on 119.9 million shares, 7% above average volume. Up on lower volume.

VIX down 2.52 at 21.10

Oil up .72 to 63.57

TLT down .94 at 120.94 on 9.8 million shares.

NKE +4.02%, UNH +3.40% led the DJIA, 29 advancers.

FL +4.61%, UAA +4.47% and CBS +4.24%, led the SPX.

TSLA +5.96%, AVGO +4.00%, and DISH +3.47%, led the NDX.

Intermediate and long term up trend intact.  3-day short term trend is sideways.

Up: DIA, IWM, SPY, QQQ

Down:

Breadth strengthened on Tuesday, as advancers led 2,183 to 731 on the NYSE and led 1,892 to 1,009 on the NASDAQ.

The SPY MFC green line is pointed down at 16, short-term bearish. 

Uptrend sectors:  XLRE,

Neutral sectors: XLY, XLF, XLV, XLI, XLB, XLE, XLU, XLK

Down trend sectors: XLP,

Intermediate-term trending stocks:  Many of these stocks have had significant pull backs over the past month and it is appropriate to wait for the uptrend to resume before considering entry… ADBE, FCAU, WIX, MU, SQ, RNG, WYNN, AA, WUBA, SHOP, BA, NVDA, RACE, VRSN, V, MAR, ALGN, IBKR, ATVI, WB, ANET, ISRG, TAL, EA, EBAY, LYV, CAT, CCL, RCL, TRU, WYN, PYPL, A, AABA, BABA, FB, CBOE, TTWO, EDU, CC,

83 of 100 NDX stocks closed higher on Tuesday.

8 NDX stocks are above their 30 DMA.  STX, WYNN, SHPG, ADBE, HSIC, REGN, SBUX, VRSK,

NDX Stocks to Watch on Wednesday:

Moving Above 30 DMA = 5

ADBE, HSIC, REGN, SBUX, VRSK,

Moving Below 30 DMA = 0

The intermediate and long-term trends are still up.  The three-month trend is sideways.  The seven-day trend is sideways.

6-month Intermediate Term Market Trend: Up

3-day Short Term Market Trend: Sideways

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