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The SPX -44.45 opened higher, reversed
lower, and closed lower. Sellers were in
control after the open on an above average volume day.
Today's Consumer Confidence report was 103.2 vs. 97.4 consensus. Market action suggests good news was bad news
today. This week’s releases include ISM
Manufacturing Index on Thursday and the Employment Situation report on Friday. Several Fed members speak this week including
Thomas Barkin, John Williams, Loretta Mester and Raphael Bostic.
TLT closed higher, TNX was unchanged, while DXY, /CL GLD
moved lower.
SPY down 2.68 at 398.21, on 65.3 million shares, average volume, down on lower volume.
VIX up .00 at 26.21
QQQ down 3.39 at 301.02
AXP, JPM led the DJIA, 2 advancers, -3
EPAM, GPS, PAYC, BBY led the SPX, 65 advancers
WDAY, OKTA, ZS, DOCU led the NDX 14 advancers
The two-year trend term is up. The
one-year trend down.
Up:
Down: DIA, SPY, QQQ, IWM,
All eleven sectors were lower on Tuesday, the least weak were XLF,
XLV and XLC.
Financials leaders: SIVB, SCHW, MKTX, BAC
Health Care leaders: CRL, BMY, ABMD, TFX
Communication Services leaders: WBD, TMUS, T, TTWO
Advancers weakened on Tuesday
as decliners led 2,517 to 668 on the NYSE and advancers led 3,180 to 1,339 on the NASDAQ.
The SPY
MFC green line is pointed down below 80 at 53.8 and is defensive. SPY opened higher, reversed lower, and
closed lower.
Uptrend sectors: XLY, XLU,
XLI, XLP,
Neutral sectors: XLK, XLRE, XLF, XLV, XLC, XLE,
Down trend sectors: XLB,
The 6-month intermediate
trend is down a little. The ten-day trend is down.
3-month Intermediate Term Market
Trend: Sideways
3-day Short Term Market Trend: Down
14 of 100 NDX stocks
closed higher on Tuesday
12 NDX stocks are above their 30 DMA: ROST,
ADP, AEP, XEL, TMUS, TEAM, WDAY, PANW, CRWD, PDD, JD, GILD,
NDX Stocks to Watch on Wednesday:
Moving Above 30 DMA = 1
GILD,
Moving Below 30 DMA = 4
BIDU, KDP, KHC, PYPL
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