SPX, NDX, DJI Higher High Pullback to Higher Low...Financial, Health Care, Consumer Staples Led Sectors...Afterhours: AMGN Up, AMD Down...

 

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SPX -80.42, 6,771, closed below 6,800.  Breadth weakened on Tuesday as negative capital soared.  Government shutdown continued for the thirty fifth day.  Apparently, politicians continue to prioritize their political objectives over a fully functioning government.  Today was “Use Your Common Sense Day.”

Notwithstanding today’s pullback, the visual evidence continues to indicate that the current intermediate trend is more probable to continue rising.  Remember an uptrend is a series of higher highs and higher lows.  To be an uptrend there must be a pullback to a higher low.  The four-week SPY trend is up.  The three- and six-month trends are up.  Dave

Earnings: There are more than 130 SPX earnings reports this week.

BG COR CRL EMR FIS HUM IRM JCI MCD PPL SRE TECH TRGP TRMB ZBH report EPS before the open on Wednesday.  AEE ALB ALL AMCR APA APP ATO CPAY DASH DVN FICO FTNT HOOD HST MCK MET PAYC PTC QCOM STE TKO TPL report after the close.

Afterhours: AMGN +5.95, +2.01%, positive EPS reaction AMD 11.85, -4.74%, EPS beat negative reaction.

NDX -2.07%, bull flag pattern. 

DJI, 47,085, -0.53%, bull flag pull back, led by CAT, NVDA and CRM.

NVDA -8.19, -3.96%, bull flag pullback.

AVGO -10.61, -2.93%, breakout test, bull flag pullback.

ORCL -9.68, -3.75%, remained below short and intermediate-term support, eight week consolidation.

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

SPY down -8.10 at 675.24, 78.4 million shares, slightly above average volume.

VIX up +1.83 at 19.00,

QQQ down -12.83 at 619.25

TRV, MRK, HD, KO led DJIA, 11 advancers, +3

EXPD, HSIC, DD, YUM led SPX, 219 advancers,

MAR, ODFL, ORLY, VRSK led NDX, 29 advancers.

Up:  

Down: DIA, SPY, IWM, QQQ,

The SPY MFC green line is pointed down at 77.9 and price-action is defensive. -6.8

Four of eleven sectors were higher on Tuesday led by XLF, XLV and XLP. 

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 up a little.

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.

43 NDX stocks are above their 30 DMA: MU, PANW, ASML, LRCX, DDOG, WBD, ZS, CRWD, AMAT, MRVL, XEL, EA, AEP, VRTX, AMD, AMGN, GILD, AAPL, GOOGL, KLAC, ROST, CSCO, ISRG, BIIB, MDB, QCOM, CTSH, TEAM, AVGO, MRVL, NVDA, PDD, PLTR, AMZN, REGN, MELI, TSLA, CSX, FTNT, IDXX, COST, MAR, ODFL,

NDX Stocks to Watch on Wednesday:

Moving Above 30 DMA = 3

COST, MAR, ODFL,     

Moving Below 30 DMA = 9

ABNB, APP, ARM, AXON, BKR, CEG, GFS, INTC, INTU,

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