SPX, NDX, SPY, QQQ Close Above the HOLD...Techology, Consumer Discetionary, Industrials Lead Sectors...Earnings Continue as GOOGL, TSLA Report Tuesday AMC...

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The SPX +59.41, 5,564, opened higher, traded in a range for about two and a half hours before selling exhausted, the SPX reversed and rallied into the close.  A three-day bull flag setup bounced on the SPX and SPY.

The NDX +1.49% also closed above the high of the low day.

PCE Inflation report on Friday, July 26, BMO.

Next FOMC meeting July 30-31, 2024 

Earnings season’s continues this week with 137 SPX companies reporting.  On Tuesday AOS, AVY, CMCSA, DGX, DHR, FCX, GE, GM, GPC, HCA, IVZ, KMB, KO, LMT, MCO, MSCI, NVR, PCAR, PHM, PM, PNR, SHW, UPS report BMO and CB, COF, CSGP, ENPH, EQT, GOOG, GOOGL, PKG, STX, TSLA, TXN, V report AMC.

First day reaction: Q1

Positive:  IQV, TFC, ISRG, HBAN, SLB, FITB, DHI, CTAS, KMI, EFX, MTB, BX, DFS, USB, JNJ, CFG, PLD, STT, UNH, BAC, PNC, GS, BK, FAST= 24

Neutral: RF, TXT, CCI, STLD, SYF, MS, BLK = 7

Negative:  VZ, TRV, HAL, PPG, AXP, NFLX, DPZ, ABT, KEY, LVS, SNA, MMC, UAL, JBHT, ELV, NTRS, OMC, SCHW, PGR, WFC, C, JPM = 22

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

SPY up 5.66 at 554.65, 43.3 million shares, near average volume

VIX down -1.61 at 14.91

QQQ up 7.08 at 482.32

NKE, CRM, AMGN, MSFT led the DJIA, 17 advancers, +9

IQV, ON, TER, NXPI, TSLA led the SPX, 389 advancers 

ON, LRCX, AMAT, KLAC led the NDX, 74 advancers

Up:  IWM, QQQ, SPY, DIA,

Down:  

Ten of eleven sectors were higher on Monday, led by XLK, XLY and XLI.

The SPY MFC green line is pointed down at 74.5 and is defensive.

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

Neutral sectors: 

Down trend sectors: 

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

3-month Intermediate Term Market Trend: Up

3-day Short Term Market Trend: Down a little

74 of 100 NDX stocks closed higher on Monday.

60 NDX stocks are above their 30 DMA:  VRSK, AAPL, REGN, FANG, VRTX, CHTR, EA, HON, CTAS, ADSK, MAR, TSLA, ADBE, AMGN, BKR, GILD, INTU, FANG, TEAM, CSX, INTC, ODFL, WDAY, GFS, TXN, AEP, CTSH, GEHC, ILMN, ROP, CDW, CSCO, CSX, FAST, MDB, LIN, ADP, CMCSA, PAYX, EXC, MNST, PCAR, XEL, KHC, PEP, MDLZ, AZN, ISRG, MELI, ORLY, PANW, ABNB, ADI, CSGP, DLTRM MCHP, NXPI, ON, PYPL, TTD,

NDX Stocks to Watch on Tuesday:

Moving Above 30 DMA = 9

ABNB, ADI, CSGP, DLTR, MCHP, NXPI, ON, PYPL, TTD,

Moving Below 30 DMA = 3

BKNG, SBUX, TMUS,

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