Light Volume Trading Range with QQQ Higher and SPY, DIA, IWM Lower...VIX Rises for Second Day...

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SPY had its lowest daily volume of 2019 on Tuesday at 56.8 million shares:

• U.S. futures trading was halted Tuesday evening from 7:40 pm ET to 10:45 pm ET due to technical issues.
• Fed Chair Powell indicates before Senate Committee the Fed to be patient on future rate hikes.  Will speak to House Finance Committee on Wednesday.
• Wells Fargo Equity Strategist Harvey sees continued market rally as Fed pauses.

The DJIA, closed down 33 points at 26,057, its third close above 26,000 since Nov 8, led by weakness in CAT, HD, UNH, MMM and UNH.  Both CAT and HD rallied from a gap down lower open but finished lower for the day.

Three of eleven sectors were higher on Tuesday, led by technology XLK +0.21% and discretionary XLY +0.14%.

SPY down .20 at 279.32 on 56.8 million shares, 29% below average volume. Down on lower volume.

VIX up .32 at 15.17

Oil up .56 at 55.99

TLT up .60 at 121.81 on 6.0 million shares. 

CSCO +0.77%, NKE +0.74%, led the DJIA, 16 advancers, -4

AZO +5.10%, SJM +4.98% and AAP +3.30%, led the SPX.

LBTYA +3.71%, EA +2.75%, LULU +1.64%, and JD +1.53% led the NDX.

Long term up trend intact.  3-day short term trend is up.

Up: QQQ,

Down: SPY, DIA, IWM,

Breadth weakened on Tuesday, as decliners led 1,673 to 1,198 on the NYSE and led 1,891 to 1,134 on the NASDAQ

The SPY MFC green line is in the upper zone at 95 and is short-term bullish.

Uptrend sectors: XLRE, XLC, XLI, XLU, XLB,

Neutral sectors:  XLK, XLY, XLV, XLP, XLF, XLE,

Down trend sectors:

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

3-month Intermediate Term Market Trend: Sideways

3-day Short Term Market Trend: Up

52 of 100 NDX stocks closed higher on Tuesday.

85 NDX stocks are above their 30 DMA:  REGN, WDAY, ROST, LULU, CELG, INCY, NFLX, CDNS, CTRP, EBAY, FB, PCAR, PYPL, TMUS, WYNN, XLNX, CTAS, MELI, TXN, ULTA, VRSN, ADBE, ADSK, INTU, MCHP, ADI, AMAT, AVGO, ISRG, KLAC, LRCX, NXPI, SNPS, FAST, JBHT, MDLZ, MNST, PAYX, SWKS, WLTW, CSX, ALXN, CTSH, EXPE, GOOGL, IDXX, MXIM, NTAP, VRSK, ALGN, ADP, CHKP, CSCO, FISV, MU, SBUX, ASML, FOXA, LBTYA, BKNG, CERN, CMCSA, JD, MAR, AAL, SYMC, UAL, WDC, MYL, AAPL, AMD, ORLY, PEP, CHTR, NVDA, INTC, MSFT, EA, COST, HSIC, ILMN, QCOM, CTXS, VRTX, WBA,

NDX Stocks to Watch on Wednesday:

Moving Above 30 DMA = 2

VRTX, WBA,

Moving Below 30 DMA = 2

DLTR, SIRI,

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