SPX Closes Higher...Basic Materials, Technology, Energy Lead Sectors...After-hours GOOGL Rises, MSFT Falls on EPS Reactions...

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-Breadth was mixed on Tuesday.

-Consumer Confidence 117.0 vs 111.8 higher than expected.

-After-hours EPS: GOOGL +8.19, +6.70%, MSFT -11.60, -3.31%.

-Wednesday FOMC announcement 2 pm ET, Press conference 2:30 pm ET.

-Fed Funds futures trading expecting a 25bps hike.

-META EPS Wednesday AMC.

-AAPL +.87, 193.62, breakout and bull flag setup.

-TSLA -3.78, -1.40%, bull flag bounce pause, close below 30 DMA.

-Regional banks were lower: KRE -.90, -1.89%, ZION -1.27, -3.43%. 

Wednesday day 10 of Q2 Earnings Season with 19 SPX companies reporting BMO: ALLE, HLT, TEL TMO, OTIS, T, DGX, ADP, KO, TDY, CME GD, ODFL, PI, BA, FTV, HES UNP, APH…and 27 AMC:  :  ACGL, ALGN, AMP, AWK, CMG, EBAY, EG, EW, GL, IEX, INVH, LHX, LRCX, MAA, META, MOH, NOW, ORLY, PTC, RJF, ROL, STX, TER, TYL, UDR, URI, VICI.

166 SPX companies report this week.

First day reaction: Q2 …

Positive:  PKG, MSCI, GE, PHM, FFIV, MMM, NXPI, ADM, SHW, BRO, GLW, NVR, DOW, MCO, ROP, ZION, JNJ, ABT, KEY, UAL FCX, FITB, MKTX, IBM, KMI, TRV, MMC, NTRS, USB, CFG, ELV, JBHT, MTB, SCHW, MS, BAC, BK PNC, SYF, UNH, PEP = 42

Neutral: VZ, ARE, NEE, GEHC, DHR, DPZ, COF, WRB, PPG, HBAN, PM, GS, BKR, JPM, WFC, CAG, CTAS, DAL = 18

Negative:  RTX, ALK, IVZ, LW, DOV, GM, KMB, WHR, PCAR, BIIB, AVY, CDNS, IPG, CMA, AXP, CSX, ISRG, RF, SLB, DFS, TSLA, EFX, NFLX, GPC, SNA, TFC, AAL, NEM, LVS, CCI, STLD, DHI, POOL, OMC, HAL, NDAQ, HAS, LMT, PLD, STT, C, BLK, PGR, FAST = 45

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

SPY up 1.24 at 455.44, on 51.2 million shares, below average volume, up on similar volume.  

VIX down .05 at 13.86

QQQ up 2.55 at 378.78,

MMM, DOW, MSFT, INTC led the DJIA, 17 advancers, -4

PKG, MSCI, GE, PHM led the SPX, 291 advancers

PDD, ZS, NXPI, DDOG led the NDX, 74 advancers.

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

Up:  QQQ, SPY, DIA,

Down:  IWM,

Five of eleven sectors were higher on Tuesday, led by XLB, XLK and XLE.

The SPY MFC green line is pointed down at 91.2 and is counter-trend defensive.  SPY opened and closed slightly higher.

Uptrend sectors:   XLK, XLC, XLY, XLI, XLF, XLB, XLRE,

Neutral sectors:  XLV, XLP, XLU, XLE,

Down trend sectors:

The 6-month intermediate trend is up.  The ten-day trend is up.

3-month Intermediate Term Market Trend: Up

3-day Short Term Market Trend: Up a little

74 of 100 NDX stocks closed higher on Tuesday.

83 NDX stock are above their 30 DMA:  AAPL, CSGP, NVDA, CEG, META, TTD, VRSK, FTNT, AVGO, WDAY, ADBE, PANW, NXPI, COST, PDD, BKR, CSX, MCHP, ABNB, HON, PCAR, SIRI, ADI, INTU, ROST, ODFL, IDXX, PYPL, ON, ORLY, DLTR, ADP, CHTR, CMCSA, EA, EXC, CTSH, DDOG, MAR, TMUS, LCID, AEP, GEHC, PAYX, BKNG, FANG, ADSK, AMGN, ANSS, CDNS, CTAS, EBAY, ENPH, LULU, MRVL, SBUX, SNPS, TXN, VRTX, ZM, MSFT, PDD, QCOM, KDP, CSCO, FAST, KHC, MDLZ, MRNA, PEP, XEL, JD, MNST, ADI, CRWD, INTC, MU, WBA, GOOGL, LRCX, CPRT, DXCM, TEAM, ZS,

NDX Stocks to Watch on Wednesday:

Moving Above 30 DMA = 4

CPRT, DXCM, TEAM, ZS,

Moving Below 30 DMA = 4

GILD, MELI, SGEN, TSLA,

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