SPX Close Slightly Lower, Forms Hammer in Bull Flag Pattern...Basic Materials, Energy Lead Sectors...ORCL Gaps 14% Higher on Positive EPS Reactions

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The SPX -5.75 opened lower, traded in a range, closed just above its open and formed a hammer in in two-day bull flag setup.

NVDA -17.54, -2.00%, 857.74, pulled back for a second day forming a bull flag setup.

After-hours:  ORCL +16.47, +14.43%, gapped up on positive earnings reaction.

The CPI Report will be released BMO at 8:30 am ET, Tuesday morning.

Mega caps GOOGL, TSLA, AAPL rose and MSFT, AMZN, NVDA, META fell on Monday.

SPY down .44 at 511.28 on 62.5 million shares, near average volume, closed lower on lower volume 

VIX up .48 at 15.22

QQQ down 1.63 at 437.39

UNH, INTC, NKE, DIS led the DJIA, 20 advancers, +7

MRNA, PARA, ALB, PFE, NEM led the SPX, 290 advancers 

MRNA, CHTR, WBD, XEL led the NDX, 61 advancers

The two-year trend term is sideways.  The one-year trend is up.

Up:  DIA,

Down:  SPY, QQQ, IWM,

Five of eleven sectors were up on Monday, led by XLB, XLE and XLP

The SPY MFC green line is pointed down at 84.4 and is counter-trend defensive.

Uptrend sectors:  XLI, XLF, XLY, XLB, XLV, XLP, XLK, XLC, XLRE,

Neutral sectors:  XLE, XLU,

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

61 of 100 NDX stocks closed higher on Monday.

62 NDX stocks are above their 30 DMA:  CTAS, ROST, REGN, AVGO, META, SPLK, NVDA, AMZN, DASH, LRCX, NFLX, CDNS, ORLY, AMAT, ASML, CDW, FAST, KLAC, PCAR, ABNB, SNPS, CEG, CSX, DLTR, ODFL, NXPI, GEHC, ON, QCOM, TTD, FANG, AEP, MAR, CCEP, EXC, TMUS, AMD, CPRT, FTNT, MU, CSGP, MNST, BKR, MRVL, TXN, AZN, DXCM, MCHP, MRNA, ADI, CRWD, HON, INTC, GILD, ADSK, BIIB, CMCSA, CSCO, PYPL, ROP, TEAM,

NDX Stocks to Watch on Tuesday:

Moving Above 30 DMA = 7

ADSK, BIIB, CMCSA, CSCO, PYPL, ROP, TEAM,  

Moving Below 30 DMA = 4  

ANSS, IDXX, INTU, ISRG,

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