Monday's Bounce in SPX, NDX Pauses on Tuesday...Materials, Real Estate, Energy Led Sectors...After-hours: UPST, AMD, SMCI Down on Negative EPS Reaction...

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SPX -30.75, 6,299, opened higher and closed lower for the sixth time in seven trading days.   SPX pulled back to Monday’s S1 level and remained above Friday’s high.  Tuesday can be described as a bull flag bounce pause day. 

Breadth weakened on Tuesday after Monday’s large rallies.  Exchange advancers and decliners were mixed.

IPOs from last week AMBQ -6.81% and FIG -10.74% both closed lower.

NDX -0.73%, bull flag bounce pause day. 

DJI, 44,111 -0.14%, led by weakness in MSFT, MCD, GS, CRM.   

NVDA -1.74, -0.97%, bull flag bounce pause.

AVGO -4.79, -1.61%, bull flag bounce pause.

PLTR +12.61, +7.85%, on a positive EPS reaction.

AXON +122.24, +16.41%, a horizontal BO on a positive EPS reaction.

After-hours:

UPST -2.79, -3.38%, beat, EPS .36 vs .25 Est., beat, Rev 257.3 M vs. 225.4 Est., raise guidance, negative EPS reaction.

SMCI -9.39, -16.29%, miss EPS .41 vs .44 Est., miss Rev 5.757B vs. 5.884B Est., lowers guidance, negative EPS reaction.

AMD -11.06, -6.34%, miss EPS .48 vs .49 Est. beat Rev 7.69B vs. 7.41B Est., raise guidance, negative EPS reaction.

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

SPY down 3.20 at 627.97, bull flag bounce pause day, 68.0 million shares, below average volume, closes above Friday’s high,

VIX up .33 at 17.85

QQQ down 3.83 at 560.27

UNH, MMM, CVX, SHW led DJIA, 12 advancers, -16

AXON, PLTR, LDOS, BR led SPX, 226 advancers,

AXON, PLTR, INTC, ODFL led NDX, 29 advancers,

Up: IWM,

Down: DIA, SPY, QQQ,

The SPY MFC green line is down at 78.8, as a price action technician today’s SPY pause remained above Friday’s high following yesterday’s bull flag bounce, price above the high of the low candle is short-term bullish. -2.5

Four of eleven sectors were higher on Tuesday led by XLB, XLRE and XLE.

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

Neutral sectors: XLP, XLE, XLV,

Down trend sectors:

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

3-month Intermediate Term Market Trend: Up

3-day Short Term Market Trend: Down a little

29 of 100 NDX stocks closed higher on Tuesday.

41 NDX stocks are above their 30 DMA: AVGO, MSFT, NVDA, AMD, CSX, WBD, DASH, CSGP, GOOGL, AEP, SNPS, CDNS, FAST, PEP, CCEP, AMGN, TTD, REGN, ORLY, PLTR, XEL, MDB, PDD, BKR, CEG, ROST, TMUS, GILD, APP, AZN, CTAS, FANG, META, BIIB, EA, VRTX, IDXX, MRVL, AXON, LIN, PCAR,

NDX Stocks to Watch on Wednesday:

Moving Above 30 DMA = 3

AXON, LIN, PCAR,  

Moving Below 30 DMA = 6

ADSK, CSCO, INTU, KLAC, LRCX, TRI,

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