SPX, RUT, DJI, NDX Rally for Second Day...Election Still to Early to Call...

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1:15 am ET – NBC News projects TX for the President as Electoral College count showing just 11 votes between candidates, with key states NC, GA, PA, MI, WI to be determined.

12:35 am ET – Electoral College count tightens as SC, IA, MT and key states FL, OH called for the incumbent and MN called for the challenger.

Election returns are coming in and neither Presidential candidate has tallied 270 Electoral College votes yet.  Key states to watch are NC, PA, MI, WI, OH, GA, FL and TX. 



NDX +195.15, +1.76%, opened and closed higher.  A channel bounce that closed above the high of the low day.  The move was led by strength in AAPL, MSFT AMZN, GOOGL, FB and TSLA.
 
SPX +58.78, +1.78%, closes at 3,369, a channel bounce continuation closing above Oct 28 resistance.
 
Ten of eleven sectors were higher on Tuesday, led by XLI, XLF and XLY.
 

Industrials leaders: IR, WAB, EFX, CARR
Financial leaders: PFG, UNM, STT, NTRS
Consumer Discretionary leaders: PVH, GPC, KMX, LKQ
 
SPY up +5.83 at 333.17 on 86.0 million shares, above average volume, up on lower volume.
VIX down -1.58 at 35.55
 

WBA, GS, BA, DIS led the DJIA, 27 advancers, +2
GCI, ANET, IT, ZBRA led the SPX, 446 advancers
PDD, DXCM, TSLA, LRCX led the NDX, 90 advancers
 
The two-year trend term is up.  The one-year trend is up.
 
Up: IWM, DIA, SPY, QQQ,
Down:
 
Breadth strengthened on Tuesday as advancers led 2,482 to 587 on the NYSE and led 2,831 to 698 on the NASDAQ
 
The SPY MFC green line is pointed down at 29.4 and is short-term bearish.  Price action is a hammer at the 78.6% Fib retracement level and is a channel bounce setup.
 
Uptrend sectors:  XLU, XLB, XLI, XLY, XLC, XLP, XLV, XLK,
Neutral sectors:  XLF, XLRE,
Down trend sectors: XLE,
 
The 6-month intermediate trend is up.  The ten-day trend is down.
 
3-month Intermediate Term Market Trend: Sideways
3-day Short Term Market Trend: Up
 
90 of 100 NDX stocks closed higher on Tuesday.
 
42 NDX stocks are above their 30 DMA:   IDXX, QCOM, ADP, XLNX, BIDU, SIRI, EXC, MELI, ALGN, JD, GOOGL, PDD, CDNS, EXPE, NXPI, PAYX, CSX, ADSK, CDW, CERN, COST, CPRT, KHC, KLAC, LRCX, PCAR, TXN, XEL, ADI, AMAT, CTSH, DLTR, FAST, MAR, MCHP, MU, MXIM, SBUX, SNPS, TSLA, VRSK, WBA,
 
NDX Stocks to Watch on Wednesday:
Moving Above 30 DMA = 14
ADI, AMAT, CTSH, DLTR, FAST, MAR, MCHP, MU, MXIM, SBUX, SNPS, TSLA, VRSK, WBA,
 
Moving Below 30 DMA = 1
FOXA,
 
 
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