SPX New All-time Closing High...Technology, Communication Services, Consumer Discretionary Lead Sectors...ORCL +11% All-time Closing High on Positive EPS Reaction...

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The SPX +57.33 gapped higher after a CPI report that came in 0.1% higher than consensus in 3 of 4 categories, reversed, filled the gap, reversed higher and closed at a new all-time closing high.   The SPX bounced above Monday’s hammer and triggered a bull flag entry.

The CPI Report:  headline CPI M/M 0.4% vs 0.4% est. Y/Y 3.2% vs 3.1% est.

Core CPI M/M 0.4% vs 0.3% est. Y/Y 3.8% vs 3.7%, but down from 3.9% 

NVDA +61.39, +7.16%, 919.13, reversed much of Friday/Monday’s pull back and made a move above the high of the low day in its bull flag pattern.

ORCL +13.41, +11.75%, gapped up, closed at a new all-time high on positive earnings reaction.

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

SPY up 5.50 at 516.78 on 73.0 million shares, average volume, closed higher on higher volume 

VIX down 1.38 at 13.84

QQQ up 6.27 at 443.66

MMM, IBM, MSFT, AMZN led the DJIA, 22 advancers, +2

ORCL, NVDA, WST, NOW, ANET led the SPX, 290 advancers 

NVDA, PDD, CRWD, META led the NDX, 66 advancers

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

Up:  QQQ, SPY, DIA,

Down:  IWM,

Seven of eleven sectors were up on Tuesday, led by XLK, XLC and XLY

The SPY MFC green line turned up at 88.0 and is short-term bullish.

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

66 of 100 NDX stocks closed higher on Tuesday.

68 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, CMCSA, CSCO, PYPL, ROP, TEAM, ANSS, COST, INTU, ISRG, LULU, MSFT, PAYX,

NDX Stocks to Watch on Wednesday:

Moving Above 30 DMA = 7

ANSS, COST, INTU, ISRG, LULU, MSFT, PAYX,

Moving Below 30 DMA = 1  

BIIB,

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