SPX Opens Higher, Pulls Back after Fed Comments, Stocks Close Mixed...Technology, Utilities, Basic Materials Lead Sectors...

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The SPX -2.99 opened higher, trended up, reversed lower after Fed speak from Bostic and Daly and closed lower.

We encourage investors to read the Fed comments and determine if they gave new policy insights or just shared previously existing opinions. 

The SPY and DIA tested Friday’s breakout of its 13-day tight trading range and closed just above the trading range. 

VIX moved higher.

Jerome Powell participates in a discussion Tuesday at 9 am ET, at the Sveriges Riksbank International Symposium on Central Bank Independence, Stockholm, Sweden.

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

SPY down .22 at 387.86, on 73.9 million shares, below average volume, down on lower volume.

VIX up .84 at 21.97

QQQ up 1.74 at 270.54

CRM, INTC, GS, MSFT led the DJIA, 15 advancers, -15

NCLH, SWN, RCL, EQT led the SPX, 256 advancers

LCID, TSLA, NVDA, AMD led the NDX, 59 advancers

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

Up:  QQQ, IWM,

Down:  SPY, DIA,

Five of eleven sectors were higher on Monday, led by XLK, XLU and XLB.

Advancers weakened on Monday as advancers led 1,903 to 1,193 on the NYSE and led 2,780 to 1,879 on the NASDAQ.

The SPY MFC green line is pointed up at 25.7 and is short-term bullish.  SPY opened higher and closed slightly lower.

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

Neutral sectors:  XLC,

Down trend sectors:  XLY,

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

59 of 100 NDX stocks closed higher on Monday

48 NDX stock are above their 30 DMA:   KHC, ROST, AZN, AVGO, ATVI, EXC, OKTA, ALGN, BKNG, META, SGEN, CMCSA, JD, PDD, PYPL, SBUX, EBAY, IDXX, MU, NFLX, WBD, BKR, CHTR, AEP, AMAT, ASML, CSCO, CSX, CTSH, FANG, FISV, INTC, KLAC, LRCX, MDLZ, ODFL, TMUS, TXN, VRSK, XEL, ADBE, ADI, ANSS, CDNS, ILMN, INTU, MCHP, MELI,

NDX Stocks to Watch on Tuesday:

Moving Above 30 DMA = 8

ADBE, ADI, ANSS, CDNS, ILMN, INTU, MCHP, MELI,

Moving Below 30 DMA = 9

AMGN, COST, DLTR, DXCM, GILD, ISRG, MNST, ORLY, PCAR,

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