SPX Higher Open, Higher Close Trend Bounce...Communication, Energy, Technology Lead Sectors...VIX Moves Lower...

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The SPX +36.25 opened higher, traded in a range, moved up during the final two hours and closed higher above Friday’s hammer candle.

Monday was a trend continuation bounce in DIA, SPY and IWM.  QQQ was a channel bounce.

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

Thursday 8:30 am ET CPI Report.

Saturday: BRK/B neutral

From Oct 12 through Nov 5 more than 420 SP500 companies reported and there were more Day one EPS reactions gaining 1%+ than there were neutral or negative reactions.  In that time, the SPX rose 5.41%.

First day reaction: Q3 Oct 12 through Nov 5…Final count: See Friday’s post for list of symbols.

Positive: = 159

Neutral: = 70

Negative: = 150

SPY up 3.60 at 379.95, on 68.2 million shares, below average volume, up on lower volume.

VIX down .20 at 24.35, lowest close since Sep 12, volatility continues elevated.

QQQ up 2.91 at 267.59

WBA, CRM, BA, AMGN led the DJIA, 27 advancers, +0

VTRS, DISH, GCI, EQT led the SPX, 372 advancers

META, OKTA, ADBE, NXPI led the NDX 77 advancers

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

Up:  DIA, QQQ, SPY, IWM,

Down:

Eight of eleven sectors were higher on Monday, led by XLC, XLE and XLK.

Communication Services leaders:  DISH, GCI, META, PARA

Energy leaders:  EQT, SWN, BKR, FTI

Technology leaders:  TRMB, ADBE, NXPI, ROP

Advancers weakened on Monday as advancers led 2,006 to 1,155 on the NYSE and led 2,556 to 2,068 on the NASDAQ.

The SPY MFC green line is pointed down at 69.1 and is defensive.  SPY opened higher and closed higher.

Uptrend sectors:  XLE,

Neutral sectors:  XLF, XLI, XLV,

Down trend sectors:  XLB, XLP, XLY, XLK, XLU, XLRE, XLC,

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

3-month Intermediate Term Market Trend: Down

3-day Short Term Market Trend: Up a little

77 of 100 NDX stocks closed higher on Monday

63 NDX stock are above their 30 DMA:   BIIB, ORLY, DXCM, GILD, PCAR, AMGN, KHC, PEP, SIRI, ILMN, NFLX, EA, HON, ISRG, WBA, BKNG, ADP, CTAS, CSCO, DLTR, MRNA, AMAT, CHTR, COST, CPRT, CSX, IDXX, LRCX, MDLZ, MNST, NVDA, REGN, ROST, TMUS, AZN, LULU, KLAC, FAST, INTC, MU, VRTX, XEL, AEP, EBAY, LCID, MELI, ADBE, ANSS, ZM,

NDX Stocks to Watch on Tuesday:

Moving Above 30 DMA = 3

ADBE, ANSS, ZM,

Moving Below 30 DMA = 0

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