SPX Closes Higher after Powell Reaffirms Fed Policy...Energy, Technology, Communication Services Lead Sectors...

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-SPX +52.92 opened lower, traded in a range and closed higher.

-SPY, QQQ, NVDA, MSFT, SMH, AMAT closed above the high of the low day.

-VIX closed lower.

-Fed Chair Powell, clearly reiterated Fed policy from last Wednesday and markets rallied.

 

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

Mega caps NVDA, GOOGL, MSFT, META, AAPL, TSLA rose and AMZN fell.

iBB:  In our model account we maintain a net long position.  We added 17 February exposure through new entries today.

Day 17 of Q4 Earnings Season today, 254 SPX companies have reported as of the close:

First day reaction: Q4 through Feb 7…Positive reactions continue to lead…

Positive: SWKS, CINF, FISV, TTWO, DD, RCL, CTLT, ATVI, LIN, XYL, IT, TDG, UDR, l, CLX, REGN, CHD, GILD, CBOE, AAPL, LYB, ZBH, MCHP, ALGN, META, GWW, SWK, ITW, BALL HSY, TT, APTV, MAA, SNA, ALL, PH, EBAY, CHRW, BMY HOLX, CR, AMD, ODFL, SYK, EW, MO, TMO, OTIS, BSX, MSLZ, TMUS, 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 = 124

Neutral: CNC, IDXX, ON, HIG, QCOM, CAH, HON, WEC, CMS, AME, TECH, ICE, HUM, BXP, WM, MPC, SYY, PFG, HCA, CMCSA, ALK, DOW, XEL, TER, ADM, TXT, BA, APH, MSFT, FFIV, TEL, JNJ, HBAN, SLB, DFS, BLK = 36

Negative: INCY, CARR, SPG, J, TSN, CMI, GEN, AMZN, F, SBUX, CPT, CTSH, GOOGL, CI, AON, NWSA, APD, AFL, QRVO, COP, EL, PTC, MET, CTVA, LLY, MRK, GL, BDX, DGX, AVY, MCK, WRK, EA, CB, MTCH, IEX, ABC, JCI JNPR, FTV, AMGN, WDC, 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 = 94

Non-SPX = SNAP, PINS

94 SPX companies report EPS next week:

Monday:  CMI, IDXX, L, ON, TSN, ATVI, CINF, SPG, SWKS, TTWO, UDR

Tuesday:  CARR, CNC, CTLT, DD, FISV, INCY, IT, J, LIN, RCL, TDG, XYL, AIZ, AMCR, ATO, CMG, ENPH, ESS, FMC, FTNT, ILMN, JKHY, LUMN, OMC, PAYC, PEAK, PRU, VFC, VRTX

Wednesday:  CDW, CME, CVS, D, EMR, ETN, FOXA, TRMB, YUM, AVB, CDAY, DIS, EFX, FLT, FRT IFF, LNC, MGM, MOH, ORLY, RE, STE, WYNN

Thursday:  ABBV, BAX, BWA, DUK HII, HLT, IPG, K, KIM, MAS, PEP, PM, RL, SEE, SPGI, TPR, WTW, DXCM, EQR, EXPE, MHK, MSI, MTD, NWSA, PYPL, REG, VRSN, VTR

Friday:  GPN, IQV, NWL

SPY up 5.36 at 415.19, on 90.9 million shares, above average volume, up on higher volume.

VIX down .77 at 18.66

QQQ up 6.29 at 309.88

MSFT, BA, CVX, AAPL led the DJIA, 22 advancers, +10

SWKS, CINF, FISV, TTWO led the SPX, 350 advancers

ZM, FISV, ATVI, NVDA led the NDX, 80 advancers.

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

Up:   QQQ, SPY, DIA, IWM,

Down:

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

The SPY MFC green line pointed down at 89.7 and is short-term bullish.  SPY opened lower and closed higher after Powell spoke.

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

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: Down a little

80 of 100 NDX stocks closed higher on Tuesday.

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

NDX Stocks to Watch on Wednesday:

Moving Above 30 DMA = 4

DXCM, FANG, LULU, PAYX,

Moving Below 30 DMA = 1

MDLZ,

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