SPX Closes at Support...PPI Wednesday BMO, Fed Minutes 2 pm ET...Real Estate, Staples, Health Lead Sectors...

 

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The SPX -23.55 opened lower, rallied higher for the first three and a half hours sold off in the afternoon and closed lower.  Trading volume increased after low volume on Monday.  DIA and IWM closed above short-term support while SPY closed at support, and QQQ made a new YTD low and closed just below short-term support.

PPI will be released Wednesday 8:30 am ET.  Fed minutes released Wednesday 2pm ET, CPI released Thursday 8:30 am ET and earnings season starts Friday morning with EPS reports from JPM, C, MS, WFC, UNH, PNC, FRC and USB.

Loretta Mester and Janet Yellen spoke today.  Fed speaker schedule is showing three additional presentations this week.

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

SPY down 2.28 at 357.74, on 92.3 million shares, above average volume, down on higher volume.

VIX up 1.18 at 33.63

QQQ down 3.66 at 262.75

AMGN, WMT, WBA, NKE led the DJIA, 17 advancer, +4

VRTS, CCL, KR, ABC led the SPX, 203 advancers

MU, KHC, LULU, AZN led the NDX 25 advancers

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

Up:  DIA, IWM,

Down:  SPY, QQQ,

Three of eleven sectors were higher on Tuesday, led by XLRE, XLP and XLV.

Real Estate leaders:  PEAK, INVH, SPG, ESS

Consumer Staples leaders:  KR, WMT, KHC, WBA

Health Care leaders:  VTRS, AMGN, ABC, ABBV

Advancers strengthened on Tuesday as decliners led 1,826 to 1,391 on the NYSE and led 2,893 to 1,818 on the NASDAQ.

The SPY MFC green line turned down at 15.0 and is short-term bearish.  SPY opened lower and closed lower.

Uptrend sectors:  XLE,

Neutral sectors:  XLY, XLF, XLI, XLB,

Down trend sectors:  XLK, XLV, XLU, XLP, XLRE, XLC,

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

3-month Intermediate Term Market Trend: Down

3-day Short Term Market Trend: Down

25 of 100 NDX stocks closed higher on Tuesday

13 NDX stock are above their 30 DMA:   REGN, BIIB, VRTX, MNST, ORLY, DLTR, DXCM, GILD, PCAR, ODFL, AMGN, KDP, MU,

NDX Stocks to Watch on Wednesday:

Moving Above 30 DMA = 3

AMGN, KDP, MU,

Moving Below 30 DMA = 2

FTNT, ILMN,

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