Tuesday, October 25, 2022

SPX Breaks Out Horizontal Resistance...After hours: ENPH Higher, MSFT, GOOGL, TXN Lower after EPS...Real Estate, Communication, Consumer Discretionary Lead all Sectors Higher...


© 2022


The SPX +61.77 opened higher, broke through horizontal resistance on a reversal channel breakout and closed higher.  SPY, IWM also broke out of a horizontal resistance.

IWM, SPY, QQQ and DIA closed higher as momentum continued positive for a third day. 

TLT, /CL and GLD closed higher, while DXY and TNX moved lower.

After hoursENPH trades higher on a positive earnings reaction, MSFT, GOOGL and TXN trade lower on negative earnings reactions.


167 SPX companies report EPS this week:
Monday: ARE, BRO, CDNS, DFS, PKG, WRB, ZION,
Tuesday: ADM, BIIB, CNC, GE, GLW, GM, HAL, ITW, IVZ, KMB, KO, MCO, MMM, MSCI, NVR, PCAR, PHM, PNR, RTX, SHW, SYF, UPS, VLO, AMP, BXP, CB, CMG, CSGP, ENPH, EQR, FE, FFIV, GOOG, GOOGL, IEX, JNPR, MSFT, TER, TXN, UHS, V,
Wednesday: ADP, APH, AVY, BA, BMY, BSX, CME, FTV, GD, GRMN, HES, HLT, IQV, KHC, MAS, NSC, ODFL, OTIS, ROL, ROP, STX, TDY, TMO, WM, ALGN, DLR, EQT, ESS, F, FBHS, FTI, GL, INVH, KLAC, MAA, META, MOH, NOW, ORLY, RE, RJF, TYL, UDR, URI, VFC,
Thursday: AEP, ALLE, AMT, AOS, BAX, BWA, CARR, CAT, CBRE, CMCSA CMS, DTE, FISV, HON, IP, KDP, KIM, LH, LIN, LKQ, LUV, MA, MCD, MO, MRK, NOC, SO, SPGI, SWK, TFX, TROW, TWTR, TXT, WDC, WST, WTW, XEL, AAPL, AJG, AMZN, BIO, COF, CPT, DXCM, EMN, EW, GILD, HIG, INTC, LHX, MHK, PFG, PXD, RMD, RSG, SWN, TMUS, VICI, VRSN, VRTX, WY,
Friday: ABBV, AON, CHD, CHTR, CL, CVX, DVA, GWW, LYB, NEE, NWL, RCL, XOM

MSFT, GOOGL Tuesday, META Wednesday, AAPL, AMZN Thursday AMC will report earnings this week.

First day reaction: Q3 through Oct 25…
Positive:  CNC, MSCI, NVR, SYF, ARE, MCO, DFS, PHM, GM, SHW, PNR, ZION, KMB, ITW, KO, ADM, HAL, SLB, HBAN, CSX, LRCX, T, DGX, LVS, IBM, FCX, NUE, NFLX, ISRG, BKR, UAL, TRV, ELV, LMT, SBNY, GS, BAC, BK, USB, WFC, JPM, DAL, DPZ, FAST, PGR, WBA, BLK, PEP = 48

Neutral: MMM, IVZ, PKG, PCAR, UPS, BIIB, GE, IPG, WHR, DOW, NVR, GPC, PG, JBHT, CFG, STT, JNJ, C, UNH = 19

Negative: BRO, CDNS, WRB, VLO, GLW, RTX, SIVB, RHI, HCA, VZ, AXP RF, UNP, TSLA, FITB, EFX, DHR, PPG, SNA, KMI, POOL, ALK, KEY, AL, TSCO, CCI, DOV, PM, MMC, MTB, NTRS, CMA, ABT, PLD, MTKX, NDAQ, OMC, TFC, HAS, FRC, SCHW, MS, PNC = 43 SNAP


SPY up 6.05 at 384.92, on 78.4 million shares, below average volume, up on lower volume.
VIX down 1.39 at 28.46, volatility continues elevated.
QQQ up 5.76 at 284.21

NKE, AXP, BA, CRM led the DJIA, 26 advancers, -1
GCI, CNC, IQV, CRL led the SPX, 448 advancers
LCID, ISRG, LULU, DDOG led the NDX 91 advancers

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

UpIWM, QQQ, SPY, DIA,
Down:

All eleven sectors were higher on Tuesday, led by XLRE, XLC and XLY as sector momentum remained positive.

Real Estate leaders:  ARE, AMT, VTR, EXR
Communication Services leadersGCI, MTCH, DISH, META
Consumer Discretionary leadersBBWI, ROST, KMX, DHI,


Advancers strengthened on Tuesday as advancers led 2,729 to 518 on the NYSE and led 3,619 to 998 on the NASDAQ.

The SPY MFC green line is pointed up at 43.1 and is short-term bullishSPY opened higher and closed higher.


Uptrend sectors:  XLE,
Neutral sectors:  XLF, XLI, XLV,
Down trend sectors:  XLB, XLY, XLK, XLU, XLP, XLRE, 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 TrendUp


91 of 100 NDX stocks closed higher on Tuesday

70 NDX stock are above their 30 DMA:   BIIB, ORLY, DXCM, GILD, PCAR, AMGN, KHC, PEP, SIRI, ABNB, ADSK, ILMN, NFLX, VRSN, EA, FTNT, HON, ISRG, MU, WBA, ADBE, BKNG, ZM, AAPL, ADI, ADP, AMZN, ASML, CTAS, CTSH, CSCO, DLTR, GOOGL, INTU, KDP, MAR, MRNA, MSFT, VRTX, AMAT, CHTR, COST, CPRT, CSX, IDXX, INTC, LRCX, MDLZ, MNST, NVDA, ODFL, REGN, ROST, TMUS, TXN, AZN, CMCSA, DDOG, EBAY, FAST, FISV, LULU, MCHP, META, OKTA, PAYX, PYPL, QCOM, SPLK, WDAY,

NDX Stocks to Watch on Wednesday:
Moving Above 30 DMA = 15
AZN, CMCSA, DDOG, EBAY, FAST, FISV, LULU, MCHP, META, OKTA, PAYX, PYPL, QCOM, SPLK, WDAY,


Moving Below 30 DMA = 0





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