SPX, NDX, DJI, RUT Lower Open, Lower Close above Monday's Support...AXP, ZION, IBM Rise on EPS...After-hours MSFT, TXN, COF Rise...

 
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SPX, DJI, NDX and RUT gapped lower on the open and traded in a range well above Monday’s support low.  SPX, NDX, DJI and RUT formed spinning tops.  Monday still has the characteristics of a capitulation bottom.
 
Wednesday FOMC announcement 2 pm ET, press conference 2:30 pm ET.
 
After-hours: MSFT, TXN, COF rise.

SPX closed at 4,356, -53.68.
NDX closed at 14,149, -360.46.
 
 
AXP +14.18, +8.92% gapped up on a positive earnings reaction and led the DJI.
ZION +3.71, +5.91% gapped up on a positive earnings reaction.
IBM +7.28, +5.65% rose on a positive earnings reaction.
 
Earnings season Wednesday EPS reports from ABT, ADP, ANTM APH, BA, FCX, GD, GLW HES, KMB, MKTX NDAQ NSC, PGR ROL, T, TEL BMO and AMP, CCI DRE, EW, INTC, LRCX, LVS, NOW, PKG, PTC, RJF, STX, TER, TSLA, URI, VRTX, WHR, XLNX AMC.
Earnings Reports:
Positive reactions: AXP, JNJ, RTX, LMT, PCAR, HAL, TRV, BKR, AA, UNP, PG, MS, WFC,
Neutral reactions: MMM, IVZ, ADM, VZ, 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 down 5.37 at 434.47, on 167.9 million shares, above average volume, down on lower volume.   
VIX up 1.26 at 31.16
QQQ down 8.19, -2.31% at 345.11
 
AXP, IBM, CVX, JNJ led the DJIA, 9 advancers, -4
APA, OXY, HAL, MRO led the SPX, 121 advancers.
NTES, PCAR, BIDU, MAR led the NDX, 8 advancers.
 
The two-year trend term is up.  The one-year trend is up.
 
Up: 
Down:  DIA, SPY, IWM, QQQ,
 
Two of eleven sectors were higher on Tuesday, led by XLE, XLF and XLRE.
 
Energy leaders: APA, OXY, HAL, MRO
Financial leaders: AXP, ZION, DFS, SYF 
Real Estate leaders: FRT, PEAK, AMT, O
 
Advancers weakened on Tuesday as decliners led 1,984 to 1,429 on the NYSE and led 2,888 to 1,882 on the NASDAQ.
 
The SPY MFC green line is pointed down at 12.7 and is short-term bearish.  SPY opened lower, closed lower, made a higher low than Monday’s and formed a spinning top. 
 
 
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
 
8 of 100 NDX stocks closed higher on Tuesday.
 
13 NDX stocks are above their 30 DMA:  VRTX, AEP, CERN, MDLZ, INCY, KDP, CHKP, ATVI, PCAR, BIDU, SPLK, JD, PDD,
 
NDX Stocks to Watch on Wednesday:
Moving Above 30 DMA = 0
 
 
Moving Below 30 DMA = 7
AMGN, CMCSA, EA, EXC, KHC, PEP, WBA,
 
 
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