SPX Rallies after Trade Comments, Brexit Vote Delay...HAL Rises on EPS...

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After the close CDNS and ZION had a positive earning’s reaction.

Upcoming:

Tues Oct 22 – 20+ SP 500 stocks report EPS

Wed Oct 30 – next FOMC Meeting Announcement

Thu Oct 31 – Brexit deadline

  

SPX closes at 3,006, down -0.46% from Sep 19th 3,021 high and up +5.27% from its Oct 3 low of 2,856. 

The SPX gained 20 points.  Look for the institutional short-term focus to continue to be on EPS reactions Tuesday on SPX stocks CDNS, CE, ZION, LMT, MCD, PG, TRV, UTX, UPS and more.

Our current technical assessment is an Aug – Oct (2,822 – 3,027) sideways channel with Monday’s white candle moving towards resistance of a three-month ascending triangle.  Price action is likely to continue fluctuating between 2,840 support and 3,020 resistance until a breakout occurs.

The DJIA, closed up 57 points at 26,827 led by strength in AAPL, JPM, MMM, GS and AXP.  Closing below 27,000 for the second day.

Nine of eleven sectors were higher on Monday, led by XLE, XLF and XLK.

SPY up 2.02 at 299.99 on 39.4 million shares, below average volume.  Up lower volume.

VIX down .25 at 14.00

Oil down .21 at 53.64

TLT down 1.05 at 138.53 on 8.1 million shares.

GLD down .67 at 139.79

JPM, AXP, MMM led the DJIA, 19 advancers, +6

COTY, FOSL, HAL led the SPX, 377 advancers

VRTX, MU, JD, AMD led the NDX, 70 advancers

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

Up: IWM, QQQ, SPY, DIA,

Down:                                                                  

Breadth strengthened on Monday as advancers led 1,953 to 1,001 on the NYSE and led 2,087 to 1,062 on the NASDAQ

The SPX MFC green line moved above 80 to 83 and is short-term bullish.

Uptrend sectors: XLRE, XLU, XLP, XLK,

Neutral sectors:  XLF, XLY, XLC, XLI, XLB, XLV,

Down trend sectors: XLE,

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

3-month Intermediate Term Market Trend: Sideways

3-day Short Term Market Trend: Up

70 of 100 NDX stocks closed higher on Monday.

69 NDX stocks are above their 30 DMA:  KLAC, AAPL, ASML, DLTR, CTXS, HAS, ROST, CTAS, ALGN, CELG, CHTR, NVDA, PEP, XRAY, COST, LULU, ROST, SWKS, TSLA, AMAT, EXPE, FISV, ILMN, INTC, ISRG, ORLY, PAYX, TXN, AMGN, MCHP, NXPI, ADP, CERN, FAST, GOOGL, IDXX, NTES, PCAR, SIRI, WYNN, AAL, AMD, AVGO, GILD, INCY, VRTX, BKNG, CMCSA, FB, ISRG, JBHT, JD, NTAP, QCOM, TMUS, UAL, WBA, FOXA, AMZN, ATVI, CDNS, CSX, EBAY, HSIC, LRCX, MSFT, MXIM, NFLX, VRSN,

NDX Stocks to Watch on Tuesday:

Moving Above 30 DMA = 11

AMZN, ATVI, CDNS, CSX, EBAY, HSIC, LRCX, MSFT, MXIM, NFLX, VRSN,

Moving Below 30 DMA = 0

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