SPX Pauses after 4-day Rally as Q3 Earnings' Season Begins...

 
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Earnings season started Tuesday before the open with JPM, C, JNJ, FRC and BLK, beating estimates on revenues and EPS.
 
NDX -4.94, -0.04%, gapped up and traded in a range on Tuesday.  The range was led by strength in ZM, MELI, EBAY, MRNA and PYPL. 
 
SPX -22.29, -0.63%, closes at 3,511.  SPX paused after a four-day rally and traded in a range on Tuesday setting up a potential counter-trend pullback for Wednesday.
 
One of eleven sectors was higher on Tuesday, led by XLC, XLY and XLP.
 
Communication Services leaders: GCI, DIS, NFLX, EA
Consumer Discretionary leaders: EBAY, ETSY, DPZ, CMG
Consumer Staples leaders: CLX, KHC, CHD, WMT
 
SPY down -2.30 at 350.13 on 73.2 million shares, below average volume, down on lower volume.
VIX up +1.00 at 26.07
 
AAPL, GS, MSFT, CAT led the DJIA, 7 advancers, -16
WAT, ETSY, BLK, DPZ led the SPX, 133 advancers
ZM, MELI, EBAY, MRNA led the NDX, 51 advancers
 
The two-year trend term is up.  The one-year trend is up.
 
Up:
Down: QQQ, DIA, SPY, IWM,
 

Breadth weakened on Tuesday as decliners led 2,048 to 999 on the NYSE and led 2,109 to 1,371 on the NASDAQ

 
The SPY MFC green line is pointed up at 69 and is bullish.  Price action is a pause after breakout continuation.
 
Uptrend sectors:  XLY, XLB, XLP, XLK, XLC, XLV, XLI, XLU,
Neutral sectors:  XLRE, XLF,
Down trend sectors: XLE,
 
The 6-month intermediate trend is up.  The ten-day trend is up.
 
3-month Intermediate Term Market Trend: Up
3-day Short Term Market Trend: Up
 
51 of 100 NDX stocks closed higher on Tuesday.
 
93 NDX stocks are above their 30 DMA:   AVGO, ZM, ALXN, SGEN, WDAY, CDW, CHTR, CPRT, CTAS, CTSH, FISV, IDXX, INTC, MRNA, NVDA, PAYX, QCOM, SBUX, SNPS, ADP, BIIB, COST, LRCX, SWKS, TXN, XLNX, AMD, KLAC, BIDU, DOCU, NFLX, NXPI, ROST, XEL, SIRI, AMAT, CERN, EXC, MCHP, MELI, MXIM, PCAR, REGN, SPLK, ADBE, ADI, ALGN, ANSS, ASML, BMRN, CDNS, CHKP, CSX, ILMN, INCY, INTU, ISRG, JD, LULU, MU, PEP, PYPL, TMUS, TSLA, WBA, WDC, ADSK, AMZN, BKNG, CSCO, DLTR, ULTA, VRSK, VRSN, VRTX, AAPL, CTXS, EBAY, LBTYA, MDLZ, MNST, MSFT, ATVI, CMCSA, EA, FB, GILD, GOOGL, KHC, PDD, TTWO, DXCM, ORLY, 
 
NDX Stocks to Watch on Wednesday:
Moving Above 30 DMA = 2
DXCM, ORLY,
 
Moving Below 30 DMA = 5
EXPE, FAST, FOXA, MAR, TCOM,
 
 
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