QQQ, IWM Lead as SPY, DIA Lag on Tuesday...Energy, Health Care, Discretionary Lead Sectors...FDX, ADBE Fall in After-hours Trading on a Negative EPS Reaction...

  
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The FOMC met today for the first day of its two-day policy meeting.  The FOMC announcement is Tuesday at 2 pm ET with its press conference at 2:30 pm ET.
 
Futures rose overnight and SPY, QQQ, DIA and IWM opened higher and shifted into a sideways trading range with SPY and DIA closing slightly lower and QQQ and IWM closing slightly higher on Tuesday.
 
SPX closed below 4,400 for the second day and NDX closed above 15,000.
 
FDX -12.31, -4.88% and ADBE -26.14, -4.05% fell in after-hours on a negative EPS reaction.
 
 
SPY down .41 at 433.63, on 92.5 million shares, above average volume, down on lower volume.  
VIX down 1.35 at 24.36
QQQ up .45, +0.12% at 366.15
 
 
AXP, HD, MCD, NKE led the DJIA, 15 advancers, +14
COP, AZO, TWTR USB led the SPX, 168 advancers.
SGEN, MRNA, ASML, NXPI led the NDX, 43 advancers. 
 
The two-year trend term is up.  The one-year trend is up.
 
Up: IWM, QQQ,
Down: SPY, DIA,
 
SPY = channel bounce setup at 4-week support
DIA = channel bounce setup at 8-week support
QQQ = channel bounce setup 4-week support area
IWM = channel bounce setup at short-term support
 
Five of eleven sectors were higher on Tuesday, led by XLE, XLV and XLY.
 
Energy leaders: COP, BKR, MPC, FANG
Health Care leaders: MRNA, CRL, RMD, IQV
Consumer Discretionary leaders: AZO, ORLY, ETSY, TSLA
 
Advancers strengthened on Tuesday as advancers led 1,784 to 1,474 on the NYSE and led 2,485 to 1,928 on the NASDAQ.
 
The SPY MFC green line is pointed down at 39.2 and is short-term bearish.  SPY bounced above, but close below the HOLD on its hammer at of short-term support. 
 
 
Uptrend sectors:  XLY, XLK, XLC, XLRE, XLF, XLP, XLU, XLV,
Neutral sectors:  XLI, XLB,
Down trend sectors: XLE,
 
The 6-month intermediate trend is up.  The ten-day trend is down.
 
3-month Intermediate Term Market Trend: Up
3-day Short Term Market Trend: Down
 
43 of 100 NDX stocks closed higher on Tuesday.
 
33 NDX stocks are above their 30 DMA:  INTU, ILMN, DXCM, TEAM, CDNS, QCOM, VRSK, ALGN, ASML, MCHP, NFLX, TSLA, AVGO, KLAC, BKNG, OKTA, MRNA, MTCH, ADI, LULU, AMAT, TXN, MAR, ISRG, ORLY, FOXA, INCY, SGEN, BIDU, GILD, MRVL, PDD, TCOM,
 
NDX Stocks to Watch on Wednesday:
Moving Above 30 DMA = 5
BIDU, GILD, MRVL, PDD, TCOM,
 
Moving Below 30 DMA = 2
EXC, SNPS,
 
 
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