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QQQ, SPY opened lower and closed higher, while IWM, DIA opened lower and closed lower. Both SPY and DIA did a test of Friday’s BO. QQQ continued to move towards its MACD bullish divergence price target $374.04.
Earnings Reactions Q3 beginning Oct 12:
Up: STT, GS, JBHT, PLD, SCHW, TFC, BAC, MS, UNH, WBA, BLK, FRC, FAST
63% of the SPX stocks had positive earnings reaction, a positive first week to Q3 earnings season.
SPX closed at 4,486 and NDX closed at 15,300.
SPY up 1.32 at 445.87, on 62.2 million shares, below average volume, up on lower volume.
VIX up .01at 16.31
GS, HD, AAPL, MSFT led the DJIA, 10 advancers, -13
The two-year trend term is up. The one-year trend is up.
Up: QQQ, SPY,
SPY = mid-channel breakout test
DIA = mid-channel breakout test
QQQ = MACD divergence bounce continuation, BO setup
Seven of eleven sectors were higher on Monday, led by XLY, XLK and XLC.
Consumer Discretionary leaders: AMZN, MAR, TSLA, PENN
Communication Services leaders: JBHT, GNRC, CAT, ODFL
Advancers were similar on Monday as decliners led 1,699 to 1,596 on the NYSE and led 2,495 to 2,025 on the NASDAQ.
The SPY MFC green line is pointed up at 52.6 and is bullish. SPY is a mid-channel breakout continuation.
Uptrend sectors: XLY, XLE, XLF, XLK, XLI, XLB, XLRE, XLC, XLV,
Down trend sectors:
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
62 of 100 NDX stocks closed higher on Monday.
57 NDX stocks are above their 30 DMA: NFLX, TSLA, BKNG, MTCH, MAR, FOXA, SGEN, TCOM, KHC, DLTR, PAYX, ADP, CSX, ORLY, TEAM, CTAS, MRVL, NTES, PEP, VRSK, EBAY, KDP, XLNX, BIDU, JD, SPLK, CHKP, AMD, CRWD, MSFT, WDAY, ADSK, ANSS, AVGO, CPRT, CTSH, EXC, GOOGL, INTC, NVDA, OKTA, XEL, ADI, AMZN, FISV, HON, TXN, VRSN, AAPL, ADBE, COST, DOCU, INTU, LULU, PDD, ZM,
NDX Stocks to Watch on Tuesday:
Moving Below 30 DMA = 2
MDLZ, WBA,
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