SPX, NDX Close Lower on Below Average Selling Weaker Breadth...All Sectors Close Lower...Earnings Resume Tuesday BMO...

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SPX -124.50, 5,158, opened lower after the three-day Easter weekend and continued to fall going into the final hour of trading when the SPX rallied more than 50 points off its low.  Even though the broad market continued to be hit by selling on below average volume, market maker price drops, media narratives of tariffs and uncertainty, criticism of the Fed Chair and other global dynamics, when selling exhausted today the SPX was 266 points higher than its low on April 7 at 4,835. 

Breadth weakened significantly from Thursday, as exchange and index decliners rose more than 100% and net declining capital was greater than net advancing capital in both the NDX and SPX. 

The DJI, 38,170 -2.48%, opened lower and continued to fall, as selling in NVDA and UNH continued to drag on the index.  NDX -2.46% closed lower.

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EPS Q1 on Tuesday BMO: DGX, DHR, EFX, ELV, GE, GPC, HAL, IVZ, KMB, LMT, MCO, MMM, MSCI, NOC, NTRS, NVR, PHM, PNR, RTX, SYF, VZ report.  AMC: BKR, CB, COF, ENPH, EQT, ISRG, PKG, STLD, TSLA report.

120 total SPX companies report this week in addition to today AMC WRB.

First day reaction: Q1

Positive: NFLX, DHI, HBAN STT, KEY, CSX, ABT, PLD, CF, TRV, BAC, C, GS, FAST, JPM, BLK, MS, BK, DAL = 19

Neutral: BX, RF, SCHW, KMI, TFC, AXP, FITB, UAL, PGR, PNC, JNJ, MTB, WFC, STZ = 14

Negative: UNH, SNA, MMC, JBHT, OMC, USB, KMX = 7

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TSLA -13.87, -5.75%, lower open, trading range formed a small red hammer. Earnings on Tuesday April 22, AMC.

Mega caps TSLA, NVDA, META, AMZN, AVGO, TSM, MSFT, GOOGL, BRK/B, AAPL fell on Monday. 

SPY down 12.53 at 513.88 69.2 million shares, below average volume

VIX up 4.17 at 33.82,

QQQ down 10.99 at 433.11

NKE, MRK, KO, JNJ led the DJIA, 1 advancer, -19

DFS, DG, FIS, MCHP led the SPX, 40 advancers,

MCHP, KHC, NFLX, LULU led the NDX, 9 advancers,

Up:

Down: IWM, SPY, QQQ, DIA,

The SPY MFC green line turned down to 45 and is short-term bearish. -2.3

All eleven sectors were lower on Monday, the smallest decliners were XLP, XLB and XLRE. 

Uptrend sectors: 

Neutral sectors: XLP, XLU, XLC, XLF,

Down trend sectors: XLY, XLV, XLRE, XLE, XLI, XLK, XLB,

The 6-month intermediate trend is down.  The ten-day trend is sideways.

3-month Intermediate Term Market Trend:  Down

3-day Short Term Market Trend:  Down 

9 of 100 NDX stocks closed higher on Monday.

18 NDX stocks are above their 30 DMA: EXC, CPRT, CCEP, COST, CRWD, CTAS, KDP, MDLZ, MNST, PLTR, ROST, EA, FAST, MSTR, AEP, MELI, NFLX, KHC,

NDX Stocks to Watch on Tuesday:

Moving Above 30 DMA = 1

KHC,

Moving Below 30 DMA = 11

AXON, BKNG, CDNS, CSGP, IDXX, ORLY, TMUS, TTWO, VRSK, XEL, ZS,

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