NDX closed Higher...Technology Led Sectors...Earnings Season Begins...C Horizontal Breakout...

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SPX -24.80, 6,243, opened higher after an inline CPI report, but reversed in the first 15 minutes and pulled back to close lower.  Core M/M 0.2% vs 0.3% estimate, Y/Y 2.9% vs 2.9% estimate. Headline CPI M/M 0.3% vs 0.3% estimate, Y/Y 2.7% vs 2.6% estimate.

This morning was the unofficial start to earnings season, with earnings from JPM, C, WFC, BK, BLK, STT.  All six reported EPS and Sales beats, but four of them closed lower.

The NDX +0.13% a gap up, pull back, higher close. 

The DJI, 44,023 -0.98%, a bull flag pull back.   

Breadth weakened significantly on Tuesday, however net change capital remained positive in NDX and DJI.

TSLA -6.39, -1.08%, channel pullback, C-pattern setup.

AVGO +5.34, +1.94%, Horizontal BO.

C +1.80, +4.16%, gap up horizontal breakout after a positive EPS reaction BMO.

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EPS Q2: Six SPX stocks reported: JPM, C, WFC, STT, BK, BLK,

28 more SPX companies report this week including BAC, GS, MS, UAL, GE, NFLX, AXP and SCHW on Wednesday through Friday.

First day reaction: Q2

Positive: C, FAST, = 2

Neutral: BK, JPM = 2

Negative: WFC, BLK, STT = 3

Bold is > +5% or -5%

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

SPY down 2.67 at 622.14, 74.1 million shares, above average volume

VIX up 0.18 at 17.38,

QQQ up .51 at 556.72

NVDA, MSFT, AMZN, AAPL led DJIA, 4 advancers, -13

SMCI, FSLR, AMD, AE, NVDA, C led SPX, 50 advancers,

TTD, AMD, NVDA, SNPS led NDX, 28 advancers,

Up: QQQ,

Down: SPY, DIA, IWM,

The SPY MFC green line is flat at 93.7 and is short-term bullish. +0.2

One of eleven sectors was higher on Tuesday led by XLK.

Uptrend sectors: XLK, XLC, XLI, XLY, XLU, XLF, XLB,

Neutral sectors: XLRE, XLP, XLE, XLV,

Down trend sectors:

The 6-month intermediate trend breakout is up.  The ten-day trend is up.

3-month Intermediate Term Market Trend: Up

3-day Short Term Market Trend: Sideways

28 of 100 NDX stocks closed higher on Tuesday.

59 NDX stocks are above their 30 DMA: CEG, ADI, AMAT, AVGO, DDOG, KLAC, LRCX, MCHP, MSFT, NVDA, AMD, AMZN, ASML, CSCO, META, MU, ON, CSX, TXN, MRVL, WBD, DASH, SBUX, NXPI, CSGP, GFS, BKNG, GEHC, MAR, PCAR, ANSS, GOOGL, AEP, BKR, HON, SNPS, CDNS, FAST, PEP, AAPL, CCEP, ABNB, AMGN, TTD, VRTX, MSTR, REGN, ORLY, PLTR, PDD, KHC, XEL, DXCM, NFLX, TTWO, ARM, FTNT, MDB, PDD,

NDX Stocks to Watch on Wednesday:

Moving Above 30 DMA = 4

ARM, FTNT, MDB, PDD,

Moving Below 30 DMA = 13

AZN, BIIB, CDW, CHTR, CMCSA, EXC, GILD, IDXX, KDP, LIN, MDLZ, ODFL, PYPL,

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