IWM Leads Tuesday's Bounce from a Lower Open after TGT Guidance...Energy, Industrials Lead Sectors...

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The SPX +39.25 opened lower, after TGT lowers Q2 guidance, began to rise and trended higher all day.  TNX 29.72 fell below 3% during the first hour of trading. 

The broad market SPY continues in a horizontal bull flag after a horizontal BO Friday, May 27.  Because the two-week trend is up, and the new support area held for the past six days, the trend is more likely to continue to the upside.

Keep your eye on the trend, support and resistance and momentum for better insight into what the institutions are doing.

Solar stocks gained on Tuesday after news of an administration plan for a two-year waiver on some solar tariffs.  On Tuesday, MAXN, SPWR, NOVA, ENPH, TAN, and RUN closed higher.

VICI will replace CERN on Wednesday June 8

FB will change symbol META effective Thursday, June 9.

CPI report Friday BMO June 10.

FOMC meeting June 14 – 15.

SPY up 3.95 at 415.74, on 59.1 million shares, second lowest daily volume YTD, below average volume, up on lower volume.

VIX down 1.05 at 24.02

QQQ up 2.65 at 309.87

CRM, CVX, AAPL, CAT led the DJIA, 25 advancers, +11

DINO, APA, SJM, VLO led the SPX, 418 advancers

PDD, TEAM, OKTA, DDOG led the NDX, 84 advancers

The two-year trend term is up.  The one-year trend down a little.

Up:  IWM, SPY, QQQ, DIA

Down:

Ten of eleven sectors were higher on Tuesday, led by XLE, XLI and XLV.

Energy leaders:  DINO, APA, VLO, XOM

Industrials leaders:  UAL, RTX, GNRC, LMT

Health Care leaders: DXCM, MRNA, ABMD, LLY

Advancers strengthened on Tuesday as advancers led 2,275 to 1,028 on the NYSE and led 2,979 led to 1,794 on the NASDAQ.

The SPY MFC green line is pointed up at 52.8 and is short-term bullish.  SPY closed higher and continues in a six-day horizontal bull flag.

Uptrend sectors:  XLE, XLU, XLB,

Neutral sectors:  XLP, XLV,

Down trend sectors: XLI, XLK, XLF, XLRE, XLY, XLC,

The 6-month intermediate trend is down.  The ten-day trend is up.

3-month Intermediate Term Market Trend: Down

3-day Short Term Market Trend: Sideways

84 of 100 NDX stocks closed higher on Tuesday.

72 NDX stocks are above their 30 DMA:   MNST, EA, NTES, NXPI, XEL, ADI, SNPS, AMGN, EXC, MCHP, SIRI, TMUS, VRTX, AEP, AMD, CHTR, CMCSA, KLAC, LRCX, SGEN, ZM, ADBE, ADSK, AMAT, BIDU, BKNG, CDNS, DLTR, FISV, FTNT, LCID, PDD, ADP, ASML, CTAS, DOCU, INTU, JD, MAR, MRVL, MTCH, NVDA, PCAR, QCOM, SBUX, AMZN, ATVI, CPRT, FAST, GOOGL, HON, ODFL, ORLY, PAYX, PYPL, VRSN, CRWD, KDP, MRNA, MU, PANW, ANSS, AVGO, AZN, BIIB, DDOG, MSFT, OKTA, SPLK, SWKS, TEAM, ZS,

NDX Stocks to Watch on Wednesday:

Moving Above 30 DMA = 11

ANSS, AVGO, AZN, BIIB, DDOG, MSFT, OKTA, SPLK, SWKS, TEAM, ZS,

Moving Below 30 DMA = 1

WBA,

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