SPX Open Higher, Closes Higher...Energy, Consumer Discretionary, Financials Lead Sectors...FOMC Rate Announcement Wednesday 2 pm ET...

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-SPX +51.30, opened higher and closed higher for a two-day bounce.

-FRC +3.59, +29.47%, KRE +2.51, +5.76% as regional banks continued to rally.

-VIX closed 1.36 lower.

-Existing Homes Sales 4.58 M vs 4.17 M est., better than expected, Good news

- was bad news for 57 minutes as SPX pulled back 27 points before rallying.

-TSLA channel bounce continuation setup.

-FOMC announcement Wednesday 2 pm ET, CME Fed Watch expect 25 bps hike.

-GS, Barclays, Natwest Markets forecasting no hike since last Monday

-Nomura predicts a 25-bps cut.

 

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

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

SPY up 3.75 at 398.91, on 96.0 million shares, below average volume, up on lower volume.

VIX down 2.77 at 21.38

QQQ up 4.37 at 310.34, breakout continuation.

AXP, NKE, CVX, JPM led the DJIA, 19 advancers, -9

FRC, KEY, CMA, TFC led the SPX, 389 advancers

TSLA, ZS, LCID, WBD led the NDX, 75 advancers.

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

Up:  IWM, QQQ, SPY, DIA,  

Down:

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

The SPY MFC green line is pointed up at 35.1 and is short-term bullish.  SPY opened higher and closed higher in a MACD divergence bounce continuation.

Uptrend sectors:   XLK, XLC, XLY, XLB,

Neutral sectors:  XLI, XLE, XLF, XLP, XLV, XLRE,

Down trend sectors: XLU,

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

3-month Intermediate Term Market Trend: Up

3-day Short Term Market Trend: Up

75 of 100 NDX stocks closed higher on Tuesday.

55 NDX stock are above their 30 DMA:   META, SGEN, ANSS, CDNS, NVDA, PANW, FTNT, CRWD, AVGO, AMD, ATVI, OKTA, ODFL, VRSK, AAPL, ILMN, AMAT, CSCO, DXCM, INTC, MDLZ, MELI, MSFT, SNPS, GOOG, GOOGL, PEP, ADBE, ADI, AMZN, CPRT, EA, GFS, INTU, ISRG, LRCX, MNST, TXN, VRTX, WDAY, ASML, AZN, BKNG, CTAS, FAST, IDXX, KDP, REGN, TMUS, ABNB, ALGN, MU, PYPL, TSLA, WBD,

NDX Stocks to Watch on Wednesday:

Moving Above 30 DMA = 6

ABNB, ALGN, MU, PYPL, TSLA, WBD,

Moving Below 30 DMA = 5

AEP, EXC, KLAC, MRNA, XEL,

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