Market Symmetry Lives as Broad Rally Reverses Monday's Selloff...Industrials, Financial, Discretionary Lead Sectors...

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RUT, DJI, SPX, NDX had broad rallies on Tuesday reversing Monday’s selloff. 
 
Earnings season continues Wednesday with ANTM, BKR, CMA, IPG, JNJ, KO, MKTX, MTB, NDAQ, NTRS, NVR, STX, VZ reporting BMO and CCI, CSX, DFS, EFX, FTI GL, KMI, LVS, TXN, WHR reporting AMC.
 
Earnings reactions after six days:
Positive:  PEP, WFC, TFC, UNH, USB, STT, IBM, JBHT, ZION, DOV, HAL, HCA, KEY, SYF,
Neutral/Negative:  FRC, JPM, GS, CAG, FAST, BAC, BLK, C, DAL, PNC, MS, BK, PGR, KSU, SCHW, PLD, TSCO, PPG, OMC, PM, TRV
AMC Tuesday: CMG, ISRG, NFLX, UAL
Up from Initial Reaction:  CTAS,
 
Tomorrow July 21, MRNA will replace ALXN in the SP 500 and HON will replace ALXN in the NDX.  ALXN is being acquired by AZN.
 
 
Semiconductor stocks, SMH +1.22%, moved above the HOLD in a channel bounce. NVDA closed slightly lower after a 4 for 1 stock split.

 

TSLA +2.21%, a channel bounce.
 
SPY = Re-BO.
DIA = Channel bounce.
QQQ = Bull flag bounce.
IWM = Channel bounce.
 
All eleven sectors were higher on Tuesday, led by XLI, XLF and XLY. 

 
Industrials leaders: AAL, DOV, UAL, LUV
Financial leaders: ZION, AIG, SIVB, CB
Consumer Discretionary leaders: NCLH, RCL, CCL, PVH
 
 
SPY up 6.09 at 431.06, on 99.5 million shares, above average volume, up on lower volume.  
VIX down 2.77 at 19.73
 
BA, HON, AXP, GS led the DJIA, 26 advancers, +26
HCA, AAL NCLH, RCL led the SPX, 59 advancers.
PTON, DOCU, MCHP, ILMN led the NDX, 88 advancers. 
 
The two-year trend term is up.  The one-year trend is up.
 
Up: IWM, DIA, SPY, QQQ,
Down:
 
Advancers strengthened on Tuesday as advancers led 2,761 to 574 on the NYSE and led 3,443 to 942 on the NASDAQ.
 
The SPY MFC green line is pointed down at 73 and is defensive.  SPY is a channel bounce. 
 
 
Uptrend sectors:  XLRE, XLV, XLP, XLK, XLC, XLY,
Neutral sectors:  XLI, XLF, XLU, XLB, XLE,
Down trend sectors:
 
The 6-month intermediate trend is up.  The ten-day trend is down a little.
 
3-month Intermediate Term Market Trend: Up
3-day Short Term Market Trend: Down
 
88 of 100 NDX stocks closed higher on Tuesday.
 
56 NDX stocks are above their 30 DMA:  PAYX, INTU, GOOGL, IDXX, ILMN, SNPS, MRNA, PYPL, EBAY, REGN, DXCM, ADBE, DOCU, LULU, MSFT, TEAM, AMZN, ISRG, ANSS, CDNS, QCOM, SPLK, AAPL, CPRT, MELI, NFLX, TSLA, VRSN, ADSK, CDW, COST, ORLY, SWKS, VRSK, ADP, AMGN, GILD, PEP, AEP, SBUX, FAST, CHKP, MDLZ, NTES, MNST, XEL, CHTR, CTAS, AMD, OKTA, PTON, ALGN, ALXN, CSCO, EXC, MRVL,
 
NDX Stocks to Watch on Wednesday:
Moving Above 30 DMA = 5
ALGN, ALXN, CSCO, EXC, MRVL,
 
Moving Below 30 DMA = 2
JD, VRTX,
 
 
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