SPX, NDX Pause as FOMC Begins 2-day Meeting...Announcement Wednesday at 2 pm ET...

 
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The SPX traded in a range on Tuesday, on the first day of the periodic FOMC meeting.  The FOMC announcement will be Wednesday at 2 pm ET.  No rate change is expected. The SPX paused after a new all-time closing high on Monday. 
 
The NDX did a breakout test today after Monday’s breakout and is a re-breakout setup.
 
Semiconductor stocks, SMH gave back early gains and made a short-term breakout test. 
 
DJI -94.42, -0.27%, closed at 34,299.  CRM, HD, JPM and DIS were the largest point decliners on Tuesday.
NDX -97.79, -0.69%, closed at 14,030.
SPX -8.56, -0.20%, closed at 4,246.
 
TSLA -2.97%, channel bounce down.
 
SPY = Breakout pause after new all-time closing high.
DIA = Re-breakout setup.
QQQ = Re-breakout setup.
IWM = pullback to bull flag support below all-time high.
 
Five of eleven sectors were higher on Tuesday, led by XLE, XLI and XLU.
 
Energy leaders: FANG, NOV, XOM, HFC
Industrials leaders: TXT, URI, FDX, GNRC
Utilities leaders: ES, NRG, EVRG, SO
 
SPY down .78 at 424.48, on 51.5 million shares, below average volume, down on higher volume. 
VIX up .63 at 17.02
 
CVX, AXP, TRV, BA led the DJIA, 9 advancers, -8
FANG, NOV, XOM, HFC led the SPX, 275 advancers.
MU, PCAR, CTAS, CSX led the NDX, 22 advancers. 
 
The two-year trend term is up.  The one-year trend is up.
 
Up:
Down: SPY, DIA, IWM, QQQ,
 
Advancers weakened on Tuesday as decliners led 1,748 to 1,564 on the NYSE and led 2,725 to 1,635 on the NASDAQ.
 
The SPY MFC green line is up at 96 and is bullish.  SPY paused after an all-time closing high on Monday. 
 
Uptrend sectors:  XLRE, XLC, XLE, XLV, XLK, XLF, XLI, XLP, XLB, XLU,
Neutral sectors:  XLY,
Down trend sectors:
 
The 6-month intermediate trend is up.  The ten-day trend is up.
 
3-month Intermediate Term Market Trend: Up
3-day Short Term Market Trend: Up a little
 
22 of 100 NDX stocks closed higher on Tuesday.
 
 
73 NDX stocks are above their 30 DMA:  CERN, ALXN, MDLZ, TMUS, SGEN, CSCO, PAYX, INTU, WDC, ATVI, FB, MXIM, ADI, ADP, GOOGL, IDXX, ILMN, MRVL, ZM, NVDA, PTON, AMAT, ASML, AVGO, EA, LRCX, MCHP, SNPS, TXN, MRNA, PYPL, SIRI, AMD, EBAY, EXC, REGN, XLNX, DXCM, ADBE, BIIB, CHKP, DOCU, GILD, INTC, KLAC, LULU, MSFT, TEAM, ALGN, MAR, AMZN, FOXA, ISRG, ANSS, CDNS, CMCSA, COST, NXPI, PEP, QCOM, SPLK, AAPL, CHTR, CPRT, CTAS, MELI, SWKS, BKNG, CDW, MTCH, WDAY, MU, VRSN,
 
 
 
NDX Stocks to Watch on Wednesday:
Moving Above 30 DMA = 2
MU, VRSN,
 
Moving Below 30 DMA = 7
ADSK, MNST, NTES, NFLX, SBUX, TSLA, WBA,
 
 
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