SPX Opens Higher, Closes Higher in Broad Rally...Utilities, Real Estate, Basic Materials Lead Sectors...After-hours: MSFT Up, GOOGL Down...

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The SPX +30.64 opened higher, pulled back, rallied and closed higher.

Breadth was positive on Tuesday.

After-hours:  MSFT +13.07, +3.95%, GOOGL -8.43, -6.07% after reporting EPS.

Wednesday, October 25, 4:35 pm ET, Fed Chair Jerome Powell brief introductory remarks at the 2023 Moynihan Lecture in Social Science and Public Policy in Washington, D.C.

Wednesday day 10 of Q3 earnings season continues with 19 SPX companies: ADP, APH, AVY, BA, CME, FTV, GD, HES, HLT, MCO, MKTX, NSC, ODFL, OTIS, ROP, TDY, TMO, TMUS, WAB reporting BMO and 26 companies ALGN, AMP, AVB, BKR, EG, EQIX, EQT, EW, GL, IBM, IEX, INVH, KLAC, MAA, META, MOH, NOW, ORLY, RJF, ROL, TER, UHS, URI, VICI, VLTO, WHR.  163 SPX companies report this week.

First day reaction:

Positive:  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, = 36

Neutral: ITW, GLW, CSX, SNA, AAL, MMC, KMI, ELV, TRV, LMT, JNJ, C, DPZ = 13

Negative:  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 = 48

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

SPY up 3.17 at 423.63 on 78.5 million shares, below average volume, closed higher on lower volume. 

VIX down 1.40 at 18.97

QQQ up 3.46 at 359.13

VZ, MMM, KO, NKE led the DJIA, 21 advancers, +11

BALL, RTX, NEE, GE led the SPX, 343 advancers

PCAR, PDD, TTD, MELI led the NDX, 80 advancers.

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

Up:  QQQ, IWM, SPY, DIA,

Down: 

Three of eleven sectors were higher on Tuesday, led by XLU, XLRE and XLB.

The SPY MFC green line is pointed down at 16.3 and is short-term bearish.  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: Down a little

80 of 100 NDX stocks closed higher on Tuesday.

30 NDX stocks are above their 30 DMA:  SGEN, PDD, CRWD, META, SIRI, AMGN, EA, GOOGL, SNPS, VRTX, CEG, FAST, MSFT, ZS, AVGO, FANG, GILD, ADBE, LULU, ROST, SBUX, NFLX, PANW, ASML, CPRT, CTAS, KLAC, PAYX, TMUS, XEL,

NDX Stocks to Watch on Wednesday:

Moving Above 30 DMA = 7

ASML, CPRT, CTAS, KLAC, PAYX, TMUS, XEL,

Moving Below 30 DMA = 2

CDNS, DLTR,

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