Futures Lead to Higher Open after China Says to Open Markets & Lower Auto Tariffs...

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Futures rose overnight following indications from China’s Xi that China will open its markets and reduce auto tariffs.  The SPX closed up 43.71 points.

The DJIA, closed up 428 points at 24,408, led by gains in BA, CAT, GS, MMM, UNH, AAPL, and CVX. (252 points) 

Eight sectors were higher on Tuesday, led by energy XLE +3.31% and technology XLK +2.46%.

SPY up 4.15 at 265.15 on 105.5 million shares, 8% below average volume. Up on higher volume.

VIX down 1.30 at 20.47

Oil up 2.33 to 65.58

TLT down .22 at 121.08 on 6.0 million shares.

BA +3.83%, CAT +3.50%, led the DJIA, 29 advancers.

FTI +7.03%, AA +6.84% and DVN +6.77%, led the SPX.

NVDA +5.80%, TMUS +5.67%, STX +5.44%, and MU +5.25%, led the NDX.

Intermediate and long term up trend intact.  3-day short term trend is sideways.

Up: QQQ, IWM, DIA, SPY

Down:

Breadth strengthened on Tuesday, as advancers led 2,231 to 701 on the NYSE and advancers led 2,283 to 607 on the NASDAQ.

The SPY MFC green line is pointed up and is at 33, bullish. 

Uptrend sectors:  XLRE, XLU,

Neutral sectors: XLY, XLF, XLV, XLI, XLB, XLE, XLK

Down trend sectors: XLP,

Intermediate-term trending stocks:  Many of these stocks have had significant pull backs over the past two months and it is appropriate to wait for the uptrend to resume before considering entry… ADBE, IBKR, ETFC, EL, TPR, WIX, NDAQ, WYNN, MU, VRSN, ANET, AKAM, COP, CRM, HRS, KORS, NTAP,

SQ, CMA, CME, RNG, AA, WUBA, FCAU, MA, V, ALGN, TAL,

BA, DLTR, NVDA, MAR, ISRG, WB, RACE, SHOP,

94 of 100 NDX stocks closed higher on Tuesday.

22 NDX stocks are above their 30 DMA.  WYNN, SHPG, ADBE, HSIC, SBUX, VRSK, DLTR, ULTA, VOD, ADP, ADSK, ASML, CELG, CHKP, CTXS, INTC, MSFT, MYL, PCAR, ROST, STX, TMUS,

NDX Stocks to Watch on Wednesday:

Moving Above 30 DMA = 13

ADP, ADSK, ASML, CELG, CHKP, CTXS, INTC, MSFT, MYL, PCAR, ROST, STX,TMUS

Moving Below 30 DMA = 0

The intermediate and long-term trends are still up.  The three-month trend is sideways.  The ten-day trend is sideways.

6-month Intermediate Term Market Trend: Up

3-day Short Term Market Trend: Sideways

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