SPX Opens Lower, Closes Higher...Communication Services, Consumer Discretionary, Basic Materials Lead Sectors...

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The SPX +27.16 opened lower, rallied, traded in a range until after Powell spoke and closed higher after an afternoon rally.

IWM, QQQ, SPY and DIA closed higher and is above its recent 3-week trading range. 

VIX moved low.

Jerome Powell participated in a discussion today at 9 am ET, at the Sveriges Riksbank International Symposium on Central Bank Independence, Stockholm, Sweden.  He did not specifically comment on current U.S. Fed policy, rather addressed the benefits of independent monetary policy.

 

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

SPY up 2.72 at 390.58, on 65.3 million shares, below average volume, up on lower

volume.

VIX down 1.39 at 20.58

QQQ up 2.29 at 272.83

DOW, CAT, VZ, AMGN led the DJIA, 24 advancers, +9

FSLR, NUE, STE, UAL led the SPX, 370 advancers

WBD, LCID, IDXX, NFLX led the NDX, 75 advancers

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

Up:  IWM, QQQ, SPY, DIA,

Down:

Ten of eleven sectors were higher on Tuesday, led by XLC, XLY and XLB.

Advancers strengthened on Tuesday as advancers led 2,213 to 876 on

the NYSE and led 3,201 to 1,245 on the NASDAQ.

The SPY MFC green line is pointed up at 31.2 and is short-term bullish. SPY opened lower and closed higher.

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

75 of 100 NDX stocks closed higher on Tuesday

57 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, INTC, KLAC, LRCX, MDLZ, ODFL, TMUS, TXN, VRSK, XEL, ADBE, ADI, ANSS, CDNS, MCHP, MELI, ADSK, AMGN, AMZN, COST, DLTR, GILD, ISRG, MRNA, NXPI, PCAR, QCOM, ZM,

NDX Stocks to Watch on Wednesday:

Moving Above 30 DMA = 12

ADSK, AMGN, AMZN, COST, DLTR, GILD, ISRG, MRNA, NXPI, PCAR, QCOM, ZM,

Moving Below 30 DMA = 3

FISV, ILMN, INTU,

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