Open Higher, Close Lower, Pullback after Consumer Confidence Weakens...GOOGL, AMD Report After-hours...FOMC to Announce Wednesday...

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The SPX -41.74, -1.47%, gapped up about 30 points on the open but started falling after the Consumer Confidence report came in lower than expected at 10 am ET.  With GOOGL EPS after the close, the SPX sold off about 15 points in the last 20 minutes of trading. 

The SPX is a horizontal resistance breakout setup.

In after-hours trading GOOGL +98.41, +7.98%, moved higher and AMD -1.71, -3.08%, moved lower after reporting EPS.

This week is the biggest EPS reporting week with 171 scheduled EPS reports from SPX companies.  AMD, AAPL, AMZN, FB, GOOGL, MSFT, GILD, MXIM, PEP, QCOM, SBUX, TSLA, WDC, CAT, MMM, MRK, PFE, BA, V, DOW, MCD, CVX, XOM report earnings this week.

The FOMC holds its press conference Wednesday afternoon.

The two-year trend term is up.

A new uptrend has emerged following a higher low W pattern reversal. 3-day short term trend is up.

Up: IWM,

Down: DIA, SPY, QQQ,

Breadth weakened on Tuesday as advancers led 2,134 to 824 on the NYSE and led 1,886 to 1,377 on the NASDAQ

The SPX MFC green line is pointed up at 91 and is a short-term bullish.

Uptrend sectors:  XLV, XLK, XLP, XLY, XLC, XLB, XLU,

Neutral sectors:  XLRE, XLI, XLF, XLE,

Down trend sectors:

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

3-month Intermediate Term Market Trend: Down

3-day Short Term Market Trend: Up

37 of 100 NDX stocks closed higher on Tuesday.

94 NDX stocks are above their 30 DMA:  CTXS, SGEN, AMZN, CDNS, NFLX, REGN, TTWO, VRTX, ALXN, NTES, INCY, AMGN, ATVI, CHKP, CSCO, EA, ILMN, INTC, KHC, VRSN, XLNX, AMD, ANSS, AVGO, CHTR, COST, CSX, IDXX, ISRG, JD, KLAC, LULU, MDLZ, MSFT, MXIM, NVDA, ORLY, PCAR, PEP, SNPS, SWKS, TMUS, TXN, ADI, FB, LRCX, QCOM, SBUX, WLTW, AAPL, ADP, ADSK, AMAT, CDW, CERN, CTSH, EBAY, FAST, FOXA, GOOGL, INTU, LBTYA, MCHP, MELI, MNST, PYPL, ROST, SPLK, ULTA, WDAY, XEL, ADBE, ALGN, TSLA, BMRN, GILD, VRSK, PAYX, MAR, BKNG, CTAS, EXC, EXPE, FISV, MU, NXPI, CMCSA, CPRT, NTAP, SIRI, TCOM, WDC, DLTR, WBA,

NDX Stocks to Watch on Wednesday:

Moving Above 30 DMA = 0

Moving Below 30 DMA = 1

BIDU,

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