SPX Broad Rally after two-day Pullback...Materials, Financial, Discretionary Lead All Sectors Higher...

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The SPX +86.97 opened flat, followed by a strong uptrend after the WSJ ran an article that the Fed was going to raise rates 75 basis on Nov. 2 and was open to debate on future rate increases after the Nov. announcement.

Positive earnings reactions today from SLB and HBAN.  Negative earnings reactions from SIVB and RHI.

DIA, SPY, QQQ and IWM closed higher as momentum turned positive.

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

167 SPX companies report EPS next 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:

MSFT, GOOGL, META, AAPL, AMZN mega-caps will report earnings next week.

First day reaction: Q3 through Oct 21…

Positive:   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 = 31

Neutral: IPG, WHR, DOW, NVR, GPC, PG, JBHT, CFG, STT, JNJ, C, UNH = 12

Negative:  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 = 37 SNAP

SPY up 8.88 at 374.29, on 131.0 million shares, above average volume, up on higher volume.

VIX down .29 at 29.69, volatility remains elevated.

QQQ up 6.31 at 275.42

CAT, JPM, GS, DOW led the DJIA, 28 advancers, +18

SLB, FCX, HBAN, NUE led the SPX, 468 advancers

MRNA, NFLX, ASML, LCID led the NDX 92 advancers

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

Up:  DIA, SPY, QQQ, IWM,

Down:

All eleven sectors were higher on Friday, led by XLB, XLF and XLY as sector momentum improved.

Basic Materials leaders:  FCX, NUE, ALB, DOW

Financial leaders:  HBAN, KEY, STT, FITB

Consumer Discretionary leaders:  CZR, GPS, NCLH, WYNN

Advancers strengthened on Friday as advancers led 2,259 to 939 on the NYSE and led 3,053 to 1,537 on the NASDAQ.

The SPY MFC green line turned up at 33.19 and is short-term bullish.  SPY opened flat and closed higher and formed a bullish engulfing candle.

Uptrend sectors:  XLE,

Neutral sectors:  XLF, XLI,

Down trend sectors:  XLB, XLY, XLK, XLV, 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 Trend: Up a little

92 of 100 NDX stocks closed higher on Friday

40 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, SBUX, VRTX,

NDX Stocks to Watch on Monday:

Moving Above 30 DMA = 17

AAPL, ADI, ADP, AMZN, ASML, CTAS, CTSH, CSCO, DLTR, GOOGL, INTU, KDP, MAR, MRNA, MSFT, SBUX, VRTX,

Moving Below 30 DMA = 0

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