SPX, NDX Lower Open, Partial Recovery, Channel Bounce Setup...DJI Higher Close, Bull Flag Bounce...Consumer Staples, Industrials, Financials Led Sectors...

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SPX -10.41, 6,644, gapped lower on continuing China concerns, sold off for 15 minutes near Friday’s low, reversed and recovered its selloff before a late 30 point decline resulted in closing slightly lower for the day.  Breadth weakened but remained positive as advancers led decliners on Tuesday.  Government shutdown continued for a fourteenth day.

A lower open and rally led to a small decline and channel bounce set up. The six-month trend is still up.  Dave

NDX -0.69%, bounce up from support formed a white candle. 

DJI, 46,270, +0.44%, bounced up from support, closed above the high of the following 

candle, a bull flag bounce, led by strength in CAT, AXP and HD.

NVDA -8.29, -4.40%, breakout test.

AVGO -12.57, -3.52%, channel bounce pause day. 

ORCL -9.01, -2.93%, continues channel bounce, BO test, formed hammer.

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

SPY down -0.81 at 662.23, 88.7 million shares, above average volume

VIX up 1.78 at 20.81

QQQ down -4.01 at 598.00

WMT, CAT, AXP, HON led DJIA, 20 advancers, -2

WFC, BLDR, GNRC, MHK led SPX, 388 advancers,

TEAM, ABNB, CHTR, HON led NDX, 62 advancers.

Up: IWM, DIA,

Down: SPY, QQQ,

The SPY MFC green line is down at 76.2, price action remains above the high of the low day and is short-term bullish. -3.9

Nine of eleven sectors were higher on Tuesday led by XLP, XLI and XLF. 

Uptrend sectors: XLK, XLU, XLV, XLI, XLC, XLY, XLF, XLE,

Neutral sectors: XLB, XLRE,

Down trend sectors: XLP,

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

3-month Intermediate Term Market Trend: Up

3-day Short Term Market Trend: Down

62 of 100 NDX stocks closed higher on Tuesday.

52 NDX stocks are above their 30 DMA: MNST, MU, INTC, PANW, TSLA, TTWO, ASML, LRCX, DDOG, DASH, WBD, ZS, MRVL, CRWD, CEG, PLTR, AMAT, FTNT, MRVL, NVDA, CSX, XEL, EA, EXC, AEP, VRTX, AMD, BIIB, AMGN, ARM, AZN, PYPL, TTD, GILD, NFLX, PEP, AAPL, AVGO, GFS, GOOGL, KLAC, MSFT, ON, ROP, ROST, WDAY, ABNB, CCEP, COST, CSCO, KDP, MAR,

NDX Stocks to Watch on Wednesday:

Moving Above 30 DMA = 6

ABNB, CCEP, COST, CSCO, KDP, MAR,

Moving Below 30 DMA = 0

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