NDX, SPX, DJI Closed Lower as VIX Rose...Utilities Led as Sectors Fell...NVDA, PANW Report EPS Wednesday AMC...

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SPX -61.70, 6,672, opened lower, rallied for 30 minutes, turned positive before pulling back, rallied a second before rolling over to a lower close.  Breadth weakened on Monday as advancers and capital turned negative. The SPX rallied above the support low of the previous Friday’s hammer.    

SPY opened lower, traded in a range on a weak day and closed below the mid-section of the Oct 10 to Oct 29 range. The visual evidence continues to indicate that the intermediate up trend is more probable to continue.  The four-week SPY trend is sideways.  The three- and six-month trends are up.  Dave

NDX -0.83%, formed an inside day above one week support and Friday’s low. 

DJI, 46,590, -1.18%, bull flag setup, led by AXP, GS and IBM.

NVDA -3.57, -1.88%, EPS on November 19 AMC.

AVGO +0.19, +0.06%, inverted hammer at short-term support.

ORCL -2.99, -1.34%, at intermediate term muti-month support.

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

SPY down -6.26 at 665.67, 90.2 million shares, above average volume.

VIX up +2.55 at 22.38,

QQQ down -5.20 at 603.66

JNJ, AMGN, WMT, MRK led DJIA, 3 advancers, -7

GOOGL, WDC, EXPD, NEE led SPX, 95 advancers,

GOOGL, AEP, DASH, REGN led NDX, 23 advancers.

Up:

Down: QQQ, SPY, DIA, IWM,

The SPY MFC green line turned down at 60.7, and price-action closed above the support low of the previous Friday’s hammer and is short-term bullish. -8.5.  Short term posture will shift down if price moves below the November 7 low.

One of eleven sectors was higher on Monday led by XLU, XLV and XLC. 

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

Neutral sectors: XLF, XLB, XLRE,

Down trend sectors: XLP,

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

3-month Intermediate Term Market Trend: Up

3-day Short Term Market Trend: Down 

23 of 100 NDX stocks closed higher on Monday.

32 NDX stocks are above their 30 DMA: MU, WBD, CRWD, MRVL, EA, AEP, AMGN, AAPL, GOOGL, ROST, CSCO, ISRG, BIIB, MDB, CTSH, AMZN, REGN, IDXX, MAR, AZN, DDOG, BKR, CCEP, FANG, MNST, SBUX, VRTX, GILD, ORLY, AMAT, PEP, XEL,

NDX Stocks to Watch on Tuesday:

Moving Above 30 DMA = 3

AMAT, PEP, XEL,

Moving Below 30 DMA = 4

AMD, INTU, KDP, QCOM,

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