SPX Closes Higher on Broad Rally...Real Estate, Financial, Utilities Lead All Sectors Higher...FOMC Announcement Wednesday 2 pm ET...

 

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The SPX +26.98 opened slightly higher, traded in a range during the morning and rallied in the afternoon and closed higher.

Breadth was positive on Tuesday.

Tuesday EPS reactions:  ANET +24.65, +14.03%, PINS +4.78, +19.04%

After-hours: FSLR +5.40, +3.79%, PAYC -76.27, -31.13%

FOMC announcement Thursday, 2 pm ET, Press conference 2:30 pm ET, markets expect rates to remain unchanged.

Wednesday day 15 of Q3 earnings season continues with 20 SPX companies BMO: CDW, CVS, DD, DTE, EL, ETR, GNRC, GRMN, HUM, IDXX, IQV, KHC, MLM, NCLH, NI, TEL, TRMB, TT, VRSK, YUM reporting BMO and 31 ABNB, AFL, AIG, ALB, ALL, ANSS, APA AWK, BXP, CDAY, CHRW, CLX, CTSH, EA, EIX, ETSY, HST, IR, MCK, MDLZ, MET, MRO, PRU, PTC, PYPL, QCOM, QRVO, SEDG, TYL, WMB, XRAY.  151 SPX companies report this week.

First day reaction:

Positive:  ANET, LDOS, ECL, GEHC, ETN, XYL, ACGL, SPG, INCY, MPC, PEG, GPN, WELL, SYY, BEN, WDC, MCD, DXCM, INTC, AMZN, AMD, META, MELI, MU, AVGO, MRVL, CMCSA, KDP, DDOG, WTW, FTI, AMT, MAS, AOS, EQIX, ORLY, KIM, RJF, IBM, LH, BG, ROL, NOW, IEX, GWW, AMP, BKR, TXT, NEM, EQT, MRK, UHS, LIN, AVB, KDP, CMS, GL, URI, WM, WAB, GD, MSFT, MCO, FFIV, CB, RHI, VZ, RTX, NEE, GE, FI, MMM, NUE, BRO, PCAR, IVZ, PKG, KO, WRK, DOW, DGX, PHM, ARE, NFLX, T, LVS, EFX, UNP, FITB, NDAQ, ABT, PG, STT, BK, BAC, SCHW, PGR, WFC, UNH, JPM, FAST, WBA, = 102

Neutral: ALLE, AME, PFE, PSA, ZBRA, WEC, L, PSX, LYB, RSG, CBRE, AJG, ESS, PFG, RCL, KLAC, CNP, DTE, VICI, BSX, IP, LUV, V, HLT, APH, TMUS, CME, ROP, HES, ITW, GLW, CSX, SNA, AAL, MMC, KMI, ELV, TRV, LMT, JNJ, C, DPZ = 42

Negative: VFC, FMC, CAT, HUBB, TECH, AMGN, PEAK, MSCI, ON, RVTY, ENPH, F, CHTR, BIO, CVX, CPT, UDR, VRSN, TROW, ABBV, AON, RMD, FE, MHK, LHX, XEL, CINF, HIG  XOM, CL, WY, ALGN, WHR, HAS, WST, CMCSA, EW, MO, BMY, LKQ, UPS, MA, KVUE, TSCO, VMC, MAA, INVH, EG, TER, META, HSY, PCG, STX, MOH, CARR, VLO, NOC, VLTO, HON, GOOGL, MKTX, ADP, FTV, TMO, NSC, CSGP, ODFL, TXN TDY, AVY, BA, OTIS, PNR, HCA, SYF, ADM, DHR, HAL, GM, NVR, CNC, SHW, DOV, KMB, CDNS, RF, CMA, AXP, HBAN, IPG, SLB, ISRG, GPC, ZION, TSLA, DFS, BX, LRCX, CCI, STLD, POOL, PPG, PM, TFC, ALK, KEY, FCX, UAL, JBHT, MS, NTRS, CFG, USB, MTB, OMC, GS, PLD, BLK, PNC, DAL = 120

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

SPY up 2.61 at 418.20 on 79.5 million shares, below average volume, closed higher on lower volume.

VIX down 1.61 at 18.14

QQQ up 1.67 at 350.87

BA, INTC, HON, AXP led the DJIA, 25 advancers, -3

ANET, LDOS, ECL, ETN led the SPX, 416 advancers

CHTR, AMZN, ADBE, WBD, NFLX led the NDX, 80 advancers.

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

Up:  IWM, SPY, QQQ, DIA,

Down: 

All eleven sectors were higher on Tuesday, led by XLRE, XLF and XLU.

The SPY MFC green line is pointed up at 10.2 and is short-term bullish.  SPY opened higher and closed higher.

Uptrend sectors:   XLE, XLC, XLK,

Neutral sectors:  XLF, XLY, XLI, XLB, XLV,

Down trend sectors:  XLU, XLRE, XLP,

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

3-month Intermediate Term Market Trend: Down

3-day Short Term Market Trend: Up

80 of 100 NDX stocks closed higher on Tuesday.

28 NDX stocks are above their 30 DMA:  FAST, MSFT, FANG, GILD, LULU, NFLX, XEL, DLTR, ORLY, INTC, AEP, AMZN, CEG, CRWD, CTAS, ROST, TMUS, ADBE, ASML, CDNS, DXCM, GEHC, KDP, KLAC, MDLZ, MELI, SNPS, VRTX,

NDX Stocks to Watch on Wednesday:

Moving Above 30 DMA = 11

ADBE, ASML, CDNS, DXCM, GEHC, KDP, KLAC, MDLZ, MELI, SNPS, VRTX,  

Moving Below 30 DMA = 3

PDD, SBUX, SGEN,

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