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QQQ, SPY and DIA opened and closed higher. A late selloff had the ETFs close below Tuesday’s
highs, but SPY regained 80% of Monday’s selloff setting a potential MACD
divergence trigger for Wednesday.
The September Jobs Report will be released Friday
morning BMO and earnings season starts next Wednesday BMO on
October 13 with JPM reporting.
SPX closed at 4,345 and NDX closed at 14,674.
SPY up 4.46 at 433.10, on 90.6 million shares, above average volume, up on lower volume.
VIX down 1.66 at 21.30
QQQ up 4.76, +1.35% at 357.38
GS, MSFT, UNH, JPM led the DJIA, 26 advancers, +20
ABMD, IVZ, CE, AOS led the SPX, 364 advancers.
NFLX, DOCU, PCAR, NVDA led the NDX, 79 advancers.
The two-year trend term is up. The one-year trend is up.
Up: QQQ, SPY, DIA, IWM,
Down:
SPY =
MACD divergence setup at short-term support
DIA = MACD
divergence setup at short-term support
QQQ = MACD
divergence setup at 10-week support
IWM =
channel bounce pauses at mid-channel
Nine of
eleven
sectors were higher, on Tuesday, led by XLF,
XLC and XLK.
Financial leaders: IVZ, SCHW, NDAQ, MKTX
Communication Services leaders: NFLX, TTWO, TWTR, OMC
Technology leaders: NVDA,
FTNT, ANET, XLNX
Advancers strengthened on Tuesday as advancers led 1,912 to 1,380 on the NYSE
and led 2,659 to 1,849 on the NASDAQ.
The SPY MFC green line
turned up at 16.4 and is bullish. SPY is a MACD divergence setup at
short-term support.
Uptrend sectors: XLF, XLK, XLV, XLY,
Neutral sectors: XLE, XLC, XLP, XLU, XLRE,
XLI, XLB,
Down trend sectors:
The 6-month intermediate trend is up. The
ten-day trend is sideways.
3-month Intermediate Term Market Trend: Sideways
3-day Short Term Market Trend: Sideways
79 of 100 NDX stocks
closed higher on Tuesday.
19 NDX stocks are above their 30 DMA: NFLX, TSLA, BKNG, MTCH, MAR, FOXA, SGEN, TCOM,
KHC, DLTR, EA, PAYX, ADP, CSX, INTC, ORLY, SIRI, TEAM, TXN,
NDX Stocks to Watch on Wednesday:
Moving Above 30 DMA = 7
ADP, CSX, INTC, ORLY, SIRI,
TEAM, TXN,
Moving Below 30 DMA = 0
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