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The SPX +44.59 opened higher, broke through diagonal resistance on an
inverse head and shoulders reversal pattern and closed higher at horizontal
resistance. SPY,
QQQ also broke out of an inverse head and
shoulders reversal pattern.
DIA, SPY, QQQ and IWM closed higher as momentum continued positive.
TNX closed higher, while DXY, TLT, GLD and /CL moved
lower.
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:
MSFT, GOOGL Tuesday, META Wednesday, AAPL, AMZN Thursday AMC will
report earnings this 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 4.58 at 378.87, on 85.4 million shares, below average volume, up
on lower volume.
VIX up .16 at 29.85, volatility remains elevated.
QQQ up 3.08 at 278.45
AMGN, KO, HD, HON led the DJIA, 27 advancers, -1
HCA, SWN, TSCO, RF led the SPX, 413 advancers
COST, DLTR, KHC, MRNA led the NDX 74 advancers
The two-year trend term is up. The
one-year trend down.
Up: DIA, SPY, QQQ, IWM,
Down:
Nine of eleven sectors were higher on Monday, led by XLV, XLP and
XLK as sector momentum remained positive.
Health Care leaders:
HCA, AMGN, VRTX, DXCM
Consumer Staples leaders: COST, KHC, KO, MNST
Technology leaders: MSI, CDAY, ADBE, AMAT,
Advancers weakened on Monday as advancers led 1,835 to 1,344 on the NYSE and
led 2,354 to 2,260 on the NASDAQ.
The SPY
MFC green line is pointed up at 36.9 and is short-term
bullish. SPY opened higher
and closed higher and is a horizontal BO setup.
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 Trend: Up
74 of 100 NDX stocks
closed higher on Monday
55
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,
NDX Stocks to Watch on Tuesday:
Moving Above 30 DMA = 16
AMAT, CHTR, COST, CPRT,
CSX, IDXX, INTC, LRCX, MDLZ, MNST, NVDA, ODFL, REGN, ROST, TMUS, TXN,
Moving Below 30 DMA = 1
SBUX,
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