SPX, DJI, NDX, RUT Gap Lower Open, Close Higher...HD, TRV Leads DJI...Discretionary, Communication Services Lead Sectors...

  
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SPX, DJI, NDX and RUT gapped lower on the open, reversed just after mid-day and closed higher on Monday in a key day reversal.  SPX, NDX, DJI and RUT formed a long tail hammer.  Monday has the characteristics of a capitulation bottom. 

FOMC meeting Tuesday and Wednesday, announcement 2 pm ET Wednesday.
 
IBM +3.17, +2.46% gapped up on a positive earnings reaction after the close.
 
SPX closed at 4,410, +12.19.
NDX closed at 14,509, +71.18.
 
 
Earnings season Monday EPS reports from HAL BMO and IBM, ZION and BRO AMC.
Earnings Reports:
Positive reactions: HAL, TRV, BKR, AA, UNP, PG, MS, WFC,
Neutral reactions: INFO, KMI, BAC, UNH, JBHT, PLD, FAST, TFC
Negative reactions: NFLX, SIVB, HBAN, ISRG, PBCT, CSX, PPG, SLB, RF, MTB, NTRS, FITB, KEY, AAL, DFS, UAL, USB, STT, CFG, CMA, BK, GS, PNC, SBNY, SCHW, TFC, C, BLK, FRC, JPM
 
 
SPY up 1.86 at 439.84, on 252.4 million shares, above average volume, up on higher volume.   
VIX up 1.05 at 29.90
QQQ up 1.61, +0.46% at 353.30
 
HD, TRV, NKE, CRM led the DJIA, 13 advancers, +10
GPS, BBWI, GNRC, PAYC led the SPX, 314 advancers.
PTON, DDOG, TEAM, SPLK led the NDX, 67 advancers.
 
The two-year trend term is up.  The one-year trend is up.
 
Up:  IWM, QQQ, DIA, SPY,
Down: 
 
Eight of eleven sectors were higher on Monday, led by XLY, XLC and XLE.
 
Consumer Discretionary leaders: GPS, BBWI, CZR, BBY
Communication Services leaders: TMUS, VIAC, FOXA, DISCA 
Energy leaders: DVN, HAL, SWN, EOG
 
Advancers strengthened on Monday as decliners led 1,971 to 1,519 on the NYSE and led 2,570 to 2,387 on the NASDAQ.
 
The SPY MFC green line is pointed down at 13.0 and is short-term bearish.  SPY fell to its October low and bounced forming a long tail hammer. 
 
 
Uptrend sectors:  XLE, XLP, XLU,
Neutral sectors: XLF, XLI, XLB, XLRE, XLV, XLK, XLY,
Down trend sectors: XLC,
 
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
 
67 of 100 NDX stocks closed higher on Monday.
 
20 NDX stocks are above their 30 DMA:  VRTX, PEP, AEP, AMGN, WBA, CERN, MDLZ, INCY, KDP, CHKP, ATVI, EXC, KHC, PCAR, BIDU, SPLK, EA, JD, PDD, CMCSA,
 
NDX Stocks to Watch on Tuesday:
Moving Above 30 DMA = 1
CMCSA,
 
Moving Below 30 DMA = 1
 XEL,
 
 
 
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