SPX Closes Higher, Recovers Monday's Selloff...Discretionary, Materials, Real Estate Lead all Sectors Higher...FOMC Wed. 2 pm ET...

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-The SPX +58.83 opened slightly higher and reversed Monday’s selloff.

-AOS, IP, PHM, PNR, GM gained 8%+ after positive EPS reactions.

-VIX closed higher.

-After-hours: EA -13.58, -10.55 %, negative EPS reaction AMD +1.96, +1.41 %, positive EPS reaction.

-FOMC announcement at 2 pm ET, expected to raise 25 bps.

 

 

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

Mega caps TSLA, AMZN, MSFT GOOGL, NVDA, META, AAPL, reversed Monday’s pullback.

iBB:  In our model account we maintain a net long position.  We increased our 10 February exposure.

Day 12 of Q4 Earnings Season today, 146 SPX companies have reported as of the close:

First day reaction: Q4 through Jan 31…

Positive: AOS, IP, PHM, PNR, GM, DOV, NVR, MSCI, UPS, MCO, NXPI, XOM, ARE, PFE, WHR, BEN, AXP, LHX, RHI, V, WY, TSLA, STX, STLD, URI, NUE, PKG, LVS, TSCO, VLO, NOW, AAL, LRCX, CCI, MMC, ROK, AMP, MKTX, COF, T, USB, PGR, TDY, FCX, ELV, HES, PCAR, TRV, RTX, VZ, LMT, DHI, GE, SIVB, NFLX, PPG, STT, RF, CMA, MTB, TFC, FITB, KMI, JBHT, PLD, MS, SBNY, WFC, JPM, BAC, BK, C, FRC = 73

Neutral: MPC, SYY, PFG, HCA, CMCSA, ALK, DOW, XEL, TER, ADM, TXT, BA, APH, MSFT, FFIV, TEL, JNJ, HBAN, SLB, DFS, BLK = 21

Negative: PSX, GLW, CAT, MCD, KLAC, INTC, EMN, CL, CVX, CHTR, RMD, WRB, ROP, AJG, SHW, MKC, IBM, NOC, RJF, LUV, CSX, TROW, MA, NEE, NDAQ, ISRG, NSC, ADP, GD, KMB, ABT, TXN, MMM, UNP, IVZ, DHR, HAL, BRO, ZION, BKR, SYF, NTRS, KEY, PG, FAST, PNC, UAL, SCHW, GS, CFG, DAL, UNH = 52

109 SPX companies report EPS this week: 

Monday:  BEN, ARE NXPI, PFG, WHR

Tuesday:  AOS, CAT, DOV, GLW, GM, IP, MCD, MCO, MPC, MSCI, NVR, PFE, PHM, PNR, PSX, SYY, UPS, XOM, AMD, AMGN, BXP, CB, EA, EW, IEX, JNPR, MDLZ, MTCH, SYK, WDC

Wednesday:  ABC, BSX, FTV, HUM, JCI, MO, ODFL, OTIS, TMO, TMUS WM, WRK, AFL, ALGN, ALL, CHRW, DTVA, EBAY, GL, HOLX, MAA, MCK, MET, META, PTC, QRVO

Thursday:  AME, APD, APTV, AVY, BALL, BDX, BMY, CR, CAH, CMS, COP, DGX, EL, GWW, HON, HSY, ICE, ITW, LLY, MRK, PH, SNA, SWK, TECH, TT WEC, AAPL, AMZN, CLX, CPT, CTSH, F, GEN, GILD, GOOG, GOOGL, HIG, MCHP, NWSA, QCOM, SBUX

Friday:  AON, CBOE, CHD, CI, LYB, REGN, ZBH

SPY up 5.89 at 406.48, on 86.8 million shares, above average volume, up on higher volume.

VIX down .54 at 19.40QQQ up 4.35 at 294.62

HD, UNH, DOW, GS led the DJIA, 26 advancers, +16

AOS, IP, PHM, PNR, GM led the SPX, 468 advancers

RIVN, OKTA, LRCX, CRWD led the NDX, 87 advancers.

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

Up:  IWM, QQQ, SPY, DIA,

Down:

All eleven sectors were higher on Tuesday, led by XLY, XLB and XLRE.

The SPY MFC green line is pointed up at 82.8 and is short-term bullish.  SPY opened higher and closed higher.

Uptrend sectors:   XLC, XLRE, XLB, XLY, XLF, XLK, XLI, XLE, XLU, XLV, XLP,

Neutral sectors:

Down trend sectors:

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

3-month Intermediate Term Market Trend: Up

3-day Short Term Market Trend: Up a little

87 of 100 NDX stocks closed higher on Tuesday.

75 NDX stock are above their 30 DMA:   AVGO, ALGN, BKNG, META, SGEN, CMCSA, PDD, PYPL, SBUX, EBAY, IDXX, MU, NFLX, WBD, BKR, CHTR, AMAT, ASML, CTSH, FANG, LRCX, ODFL, TMUS, ADBE, ANSS, CDNS, MELI, ADSK, AMZN, ISRG, NXPI, QCOM, ABNB, AMD, FISV, LCID, MAR, NVDA, TEAM, CPRT, GOOG, GOOGL, VRTX, AAPL, EA, BIIB, COST, CPRT, DLTR, FAST, ILMN, INTU, MCHP, MRVL, MSFT, PANW, TXN, WDAY, VRSK, ZS, ADI, FTNT, GFS, PCAR, REGN, TSLA, MNST, ROST, CSCO, DDOG, OKTA, ZM, CSGP, ATVI, CRWD, INTC, RIVN,

NDX Stocks to Watch on Wednesday:

Moving Above 30 DMA = 4

ATVI, CRWD, INTC, RIVN,

Moving Below 30 DMA = 0

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