SPX, NDX Pause after Eight-Day Rally...Consumer Staples, Health Care, Real Estate Lead Sectors...PANW Leads SPX, NDX on Positive EPS Reaction...

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The SPX -11.13, 5,597, opened slightly lower, traded in a range above Monday’s large white candle S1 level and closed slightly lower.  A classic pause day after a strong 8-day run.  SPX closed just 70 points below its all-time closing high on July 16.  The VIX opened higher and closed higher.

The NDX -0.24%, opened slightly lower, traded in a range above Monday’s large white candle S1 level and closed slightly lower after a strong 8-day run.

NVDA -2.75, -2.12%, after Oppenheimer stated it expects upside to Q2 results and Q3 guidance and reiterated its Outperform rating and price target of $150. Reports Aug 28 AMC.

PANW +24.65, +7.18%, led both the SPX and NDX on a positive EPS reaction as $1.51 beat $1.41 estimate and sales $2.189 billion beat $2.162 billion.

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

SPY down .91 at 558.70, 33.6 million shares, below average volume, C-pattern BO continuation pause

VIX up 1.23 at 15.88

QQQ down 1.01 at 480.26

PG, HD, WMT, MSFT led the DJIA, 18 advancers, -7

PANW, DRI, LLY, INCY, ALB led the SPX, 170 advancers

PANW, PYPL, TTWO, WBD led the NDX, 38 advancers

Up: 

Down:  DIA, SPY, QQQ, IWM,

Three of eleven sectors were higher on Tuesday, led by XLP, XLV and XLRE.

The SPY MFC green line is pointed up at 79.4 and is short-term bullish.

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

Neutral sectors:  XLE, XLY,

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: Up

38 of 100 NDX stocks closed higher on Tuesday.

62 NDX stocks are above their 30 DMA:  CHTR, EA, CTAS, GILD, AEP, CTSH, ILMN, ADP, PAYX, EXC, XEL, KHC, PEP, ORLY, MDLZ, KDP, PYPL, AZN, DASH, TMUS, MELI, ISRG, FTNT, PDD, REGN, GEHC, LIN, META, COST, PANW, TTD, SBUX, ADSK, ANSS, CCEP, NFLX, AVGO, KLAC, NVDA, AAPL, ADBE, CMCSA, CSCO, IDXX, INTU, MDB, MRVL, ODFL, ON, ROP, ROST, TXN, WDAY, ZS, CDNS, CEG, TTWO, AMD, ASML, SNPS, VRTX, CPRT,

NDX Stocks to Watch on Wednesday:

Moving Above 30 DMA = 1

CPRT,   

Moving Below 30 DMA = 1

ADI,  

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