© 2020
NDX +65.65, +0.66%, and SPX
-25.21, +1.20%. The NDX closed at a new all-time high
for the third straight day on a breakout continuation move.
The SPX is a one-day pause, after breaking above its Mar 3 intermediate-term resistance on Friday.
The
FOMC completes its 2-day June meeting on Wednesday with an announcement at 2 pm
ET.
One
of eleven
sectors was higher on Tuesday, led by XLK,
XLC and XLY
SPY down 2.41 at 320.79 on 77.4 million shares, below average volume, down
on higher volume.
VIX up 1.76 at 27.57
AAPL, MSFT, WMT led the DJIA, 3 advancers, -21
SBAC, DXCM, NEM, NVDA led the SPX, 62 advancers
AMD, NFLX, FB AMZN led the NDX, 30 advancers
The two-year trend term
is up. The one-year trend is up.
Up: QQQ,
Down: SPY, DIA,
IWM,
Breadth weakened on
Tuesday as decliners led 2,349 to 619 on the NYSE and led 2,188 to 1,155 on the NASDAQ
The SPX
MFC green line is pointed down at 96 and is short-term bullish.
Price action is a pause day.
Uptrend sectors: XLY, XLK, XLV, XLC, XLB,
Neutral sectors:
XLI, XLE, XLF, XLRE, XLU, XLP,
Down trend sectors:
The 6-month intermediate
trend is sideways. The ten-day trend is up.
3-month Intermediate Term Market Trend: Up
3-day Short Term Market Trend: Up
30 of 100 NDX stocks
closed higher on Tuesday.
91 NDX stocks are above their 30 DMA: AMZN, CDNS, CSCO, 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, CPRT, ZM, AMAT, JD,
NTES, TMUS, CHKP, CSX, CTAS, EXPE, FOXA, INTC, LRCX, ADI, ANSS, AVGO, BKNG,
CDW, CMCSA, CSX, DLTR, INTC, MAR, MXIM, NXPI, PCAR, ROST, TXN, XLNX, PAYX,
ULTA, WDC, EXC, AAL, ALXN, MU, SIRI, TCOM, UAL, ADP, CERN, MDLZ, REGN, XEL,
WBA, NXPI, NTAP, EA, ATVI, TTWO, VRSN, AMD, GILD, NFLX, PEP,
NDX Stocks to Watch on Wednesday:
Moving Above 30 DMA = 4
AMD, GILD,
NFLX, PEP,
Moving Below 30 DMA = 1
COST,
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