SPX Closes Higher above the HOLD in Intermediate Term Trend Continuation Pattern...TSLA Gaps up after MS Upgrade...Consumer Discretionary, Communication Services Lead Sectors...CPI Report Wednesday...

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The SPX +29.97 gapped up, filled the gap, rallied back to the open and closed higher for the day.  The SPX closed above the high of the low day in a bull flag pattern with the GL flattening out.

Breadth was stronger on Monday and turned positive.

QQQ, SPY intermediate term trend continuation bounce patterns.

CPI report Wednesday BMO, PPI and Retail Sales reports Thursday BMO.

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

SPY up 2.93 at 448.45, on 60.0 million shares, below average volume, closed higher on lower volume.

VIX down .04 at 13.80

QQQ up 4.39 at 376.97

MMM, INTC, VZ, JNJ led the DJIA, 19 advancers, +0

TSLA, CVS, KVUE, MTB, AMZN led the SPX, 301 advancers

TSLA, DDOG, QCOM, TEAM led the NDX, 70 advancers.

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

Up:  QQQ, SPY, DIA, IWM,

Down:

Ten of eleven sectors were higher on Monday, led by XLY, XLC and XLP.

The SPY MFC green line is pointed down at 52.9 and is short-term defensive.  SPY gapped higher, filled the gap and closed higher. 

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

Neutral sectors:  XLRE, XLP, 

Down trend sectors: XLU,

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

70 of 100 NDX stocks closed higher on Monday.

53 NDX stocks are above their 30 DMA:  CEG, ROST, FANG, CSCO, GOOGL, REGN, CTSH, ODFL, BKR, INTU, SGEN, VRSK, ADBE, AMAT, CDNS, TEAM, WDAY, BKNG, CTAS, KLAC, MELI, PANW, SNPS, AMZN, CPRT, INTC, MU, NFLX, ORLY, PDD, ANSS, ON, ZM, ZS, CRWD, LULU, CSGP, MSFT, ABNB, TSLA, TTD, AMGN, EXC, FTNT, TMUS, CHTR, COST, DDOG, GFS, MAR, PCAR, EA, META,

NDX Stocks to Watch on Tuesday:

Moving Above 30 DMA = 2

EA, META,

Moving Below 30 DMA = 0

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