Small Caps Lead, SPX Bull Flag Bounce, HBO as Financials, Industrials Lead Sectors

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NDX -24.01, -0.26%, gapped up, traded in a range and closed lower while SPX +36.32, +1.23%, closed higher after a gap up trading range.  The NDX triggered a bull flag entry on a gap up, pulled back and is still be a bull flag setup.  The SPX triggered both a bull flag entry and a horizontal breakout.

IWM led the broad market ETFs on Tuesday.

Nine of eleven sectors were higher on Tuesday, led by XLF, XLI and XLRE

SPY up 3.64 at 299.08 on 88.9 million shares, below average volume, up on higher volume.

VIX down .15 at 28.01

GS, RTX DOW led the DJIA, 24 advancers, +9

ADS, NCLH, RCL, COTY led the SPX, 405 advancers

UAL, AAL, TCOM, ULTA led the NDX, 62 advancers

The two-year trend term is up.  The one-year trend is sideways.

A nine-week uptrend emerged following a higher low W pattern reversal in March. Gap up on Tuesday on a bull flag bounce and HBO.

Up: IWM, DIA, SPY,

Down: QQQ,

Breadth strengthened on Tuesday as advancers led 2,492 to 469 on the NYSE and led 2,322 to 990 on the NASDAQ

The SPX MFC green line is pointed down at 91.7 and is short-term bullish.  Price action is a bull flag bounce and horizontal resistance breakout.

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

Neutral sectors:  XLE, XLU, XLRE, XLI, XLF,

Down trend sectors:

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

3-month Intermediate Term Market Trend: Sideways

3-day Short Term Market Trend: Up

62 of 100 NDX stocks closed higher on Tuesday.

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

NDX Stocks to Watch on Wednesday:

Moving Above 30 DMA = 7

AAL, ALXN, MU, SIRI, TCOM, UAL, WBA,

Moving Below 30 DMA = 4

AMD, REGN, VRSN, VRTX,

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