Uptrend Continues...SPX is a Breakout Setup as Heaviest Earnings Week Begins....FOMC Tues/Wed,,,

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The SPX continued the bull flag bounce that began on Wednesday and rose to resistance on Monday and is now a horizontal resistance breakout.  The SPX +41.74, +1.47%, had a 9-point going into the close.  The VIX had its lowest close since March 4. 

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 beginning Tuesday April 29.

The FOMC meets Tuesday and Wednesday with a press conference Wednesday afternoon.

All eleven sectors were higher on Monday, led by XLF, XLRE and XLB

SPY up 4.08 at 287.05 on 77.7 million shares, below average volume, up on lower volume.

VIX down 2.64 at 33.29

DIS, MMM, JPM led the DJIA, 24 advancers, -3

GCI, KSS, PVH led the SPX, 438 advancers

TSLA, DLTR FOXA, ROST led the NDX, 76 advancers

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, DIA, SPY, QQQ,

Down:

Breadth strengthened on Monday as advancers led 2,328 to 643 on the NYSE and led 2,601 to 697 on the NASDAQ

The SPX MFC green line is pointed up at 88 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

76 of 100 NDX stocks closed higher on Monday.

95 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, BIDU, VRSK, PAYX, MAR, BKNG, CTAS, EXC, EXPE, FISV, MU, NXPI, CMCSA, CPRT, NTAP, SIRI, TCOM, WDC, DLTR, WBA,

NDX Stocks to Watch on Tuesday:

Moving Above 30 DMA = 2

DLTR, WBA,

Moving Below 30 DMA = 0

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