SPX Closes Lower on Regional Bank Weakness...Consumer Discretionary Leads Sectors...FOMC Wednesday 2 pm ET...

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-SPX -48.29, opened lower, sold off as regional banks fall and closed lower.

-SPX is a bounce down,

-VIX up 1.70.

-EPS reactions: TAP +4.63, +7.66%, MAR +8.47, +4.98%,

-ANET -25.18, -15.72%, LDOS -13.71, -14.54%,

-After-hours:  AMD -5.82, -6.47%, SBUX -6.36, -5.56%,

-Wednesday EPS reports 17 BMO and 24 AMC.

-FOMC announcement Wednesday 2:00 pm ET, press conference 2:30 pm

-Thursday AMC – AAPL eps

-Jobs Report Friday 8:30 am ET 

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

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

Day 14 of Q1 Earnings Season continued with 24 SPX companies reporting BMO:

First day reaction: Q1 through May 2…

Positive:  TAP, BR, MAR, AME, NXPI, ECL, ZBH, ETN, HWM, ABC, NCLH, ON, L, CHTR, MHK, RMD, RSG, EMN, INTC, MDLZ, ESS, LYB, PEAK, CPT, CINF, CL, NWL, VRSN, WY, HIG, COF, XOM, HAS, META, CMCSA, PNR, CBRE, CHRW, MOH, KLAC, EQT, AFL, CHD, GWW, TYL, ROP, EBAY, ROK, FTI, SPGI, HSY, HON, AVB, LLY, RHI, FIS, MAA, ORLY, NEM, ACGL, NO, MA, LKQ, KIM, AOS, BAX, CNP, MRK, UDR, SO, CMS, AAL, MO, CMG, MSFT, ALLE, CSGP, BXP, UHS, HES, MAS, BRO, CNC, FISV, PEP, PHM, KMB, PCAR, MCO, HCA, PG, CSX, SNA, LRCX, DHI, NUE, STLD, EFX, LVS, MMC, GPC, ISRG, ABT, UAL, TRV, BKR, NDAQ, USB, SYF, LMT, BK, MTB, SCHW, JPM, C, BLK, KMX = 117

Neutral: INVH, RE, VRTX, MGM, PFE, PEG, WEC, CVX, PFG, AMGN, AJG, FICO, XEL, DTE, LIN, NOW, TXT, AWK, WST, BMY EW, CAT IEX, HUM, BA, BSX, GOOGL, GOOG, ADP, EQR, V, AMT, OTIS, VZ, IVZ, MCD, MMM, SHW, KO, PPG, UNP, IBM, ALK, DFS, FITB, MS, CFG, BAC, PLD, JBHT, PNC, WFC, FAST = 53

Negative:  ANET, LDOS, ZBRA, SEE, INCY, DD, FMC, SBAC, FANG, TROW, ITW, IDXX, MPC, HOLX, VICI, CMI, EXPD, SYK, IT, SYY, GPN, BEN, FSLR,  TMUS, AMZN, FE, DLR, AON, DXCM, GILD, LHX, ALGN, ABBV, DPZ, KDP, WTW, URI, IP, PXD, DGX, IPG, IQV, LUV, TER, RJF, VLO, TSCO, PTC, WM, ENPH, ODFL, WAB, GD, ILMN, FTV, ETR, HLT, AVY TEL, DOV, JNPR, NSC, TXN, TMO, TDY, MKTX, CME, CB, APH, FRC, MSCI, UPS, NTRS, DHR, GEHC, AMP, PKG, ADM, WHR, DOW, LH, CDNS, GM, BIIB, NVR, HAL, ARE,GLW, GE, NEE, RTX, WRB, SLB, FCX, RF, T, TSLA, STX, CCI, ZION, PM, TFC, KEY, CMA, FFIV, POOL, HBAN, KMI, AXP, ELV, OMC, NFLX, JNJ, GS, STT, UNH, PGR, DAL = 11

Wednesday: Before – BG, CDW, CVS, EL, EMR, EXC, GNRC, GRMN, KHC, NI PSX, TECH, TRMB, TT, VRSK, XRAY, YUM, After – ALB, ALL, ANSS, APA ATO, CDAY, CTSH, CTVA, EQIX, ES, ETSY, FLT, GL, HST,, IR, MET, MOS,, MRO, O SA, QCOM, QRVO, SEDG, WMB

SPY down 4.67 at 410.84, on 103.8 million shares, above average volume, down higher volume.

VIX up 1.70 at 17.78.

QQQ down 2.81 at 319.38

MRK, JNJ, MCD led the DJIA, 3 advancers, -8

TAP, BR, AME, ECL led the SPX, 91 advancers

MAR, NXPI, OKTA, AMZN led the NDX, 21 advancers.

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

Up:

Down:  QQQ, DIA, SPY, IWM,

One of eleven sectors was higher on Tuesday, led by XLY, XLP and XLV.

The SPY MFC green line is pointed up at 84.5 and is short-term bullish.  SPY opened lower and closed lower.

Uptrend sectors:   XLK, XLC, XLP, XLB, XLI,

Neutral sectors:  XLY, XLV, XLU, XLE, XLF, XLRE,

Down trend sectors: 

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

3-month Intermediate Term Market Trend: Sideways

3-day Short Term Market Trend: Sideways

21 of 100 NDX stocks closed higher on Tuesday.

43 NDX stock are above their 30 DMA:   AAPL, MDLZ, PEP, AMZN, CPRT, EA, ISRG, VRTX, AZN, LULU, REGN, BIIB, MNST, KHC, ORLY, XEL, EXC, DLTR, SBUX, CSX, FISV, CSGP, DXCM, BKNG, EBAY, MAR, PCAR, MSFT, MU, NVDA, ROST, ADP, CMCSA, CTAS, FAST, GOOG, GOOGL, HON, LRCX, META, ABNB, CHTR, INTU,

NDX Stocks to Watch on Wednesday:

Moving Above 30 DMA = 0

Moving Below 30 DMA = 12

AEP, AVGO, BKR, CDNS, CTSH, FANG, IDXX, KLAC, MELI, PAYX, PYPL, VRSK,

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