SPX Opens Lower, Closes Lower after Futures Mover Lower Monday Evening...Consumer Staples Lead Sectors...FOMC Minutes Wednesday...NVDA Earnings AMC Wednesday...

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The SPX -30.06 opened lower after futures moved lower overnight and closed lower on strong selling in NVDA, TSLA and AMD.  COF announced an all-stock buyout of DFS.

WMT +5.50, +3.23%, on a positive earnings reaction and buyout offer for Vizio.  Stock split coming next week.

NVDA -31.61 traded lower, apparently from profit taking before earnings Wednesday AMC.   This was after Baird raised their price target to $1,050, Raymond James raised their price target to $850 and HSBC raised their price target to $835 before the open.  Will report earnings Wednesday AMC.

After-hours: PANW -77.14, -21.07%, on positive earnings and lowered guidance.

FOMC minutes 2 pm ET on Wednesday.

AMZN will replace WBA in the DJIA, next Monday, Feb 26, 2024.

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

SPY down 2.75 at 496.76 on 71.7 million shares, average volume, closed lower on lower volume. 

VIX up .71 at 15.42

QQQ down 3.25 at 427.32

WMT, INTC, KO, WBA led the DJIA, 14 advancers, +4

DFS, CAG, BBWI, UAL led the SPX, 200 advancers 

KHC, GFS, DLTR, MDLZ led the NDX, 39 advancers

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

Up:  

Down:  DIA, SPY, QQQ, IWM,

One of eleven sectors was up on Tuesday, led by XLP, XLU and XLC.

The SPY MFC green line is pointed down at 85.6 and is counter-trend defensive. 

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

Neutral sectors:  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: Sideways

39 of 100 NDX stocks closed higher on Tuesday.

57 NDX stocks are above their 30 DMA:  CRWD, CTAS, ROST, COST, ZS, ISRG, REGN, AVGO, FTNT, META, SPLK, ADP, ADSK, NVDA, AMZN, DASH, LRCX, MSFT, NFLX, WDAY, PANW, MELI, CDNS, ORLY, VRSK, AMAT, ASML, CDW, FAST, INTU, KLAC, PCAR, ABNB, SNPS, CEG, CSX, MDB, BKNG, DLTR, ODFL, IDXX, NXPI, GEHC, PAYX, SBUX, ON, QCOM, TTD, EA, FANG, AEP, CTSH, MAR, ROP, CCEP, PEP,

NDX Stocks to Watch on Wednesday:

Moving Above 30 DMA = 1

PEP,

Moving Below 30 DMA = 4

AMD, CPRT, DDOG, ILMN,

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