SPX, NDX Surge after Better-than-expected PPI Report...Technology, Consumer Discretionary, Communication Services Lead Sectors Higher...SBUX Names New CEO...

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The SPX +90.04, 5,434, gapped higher, after a better-than-expected PPI inflation report, trended and closed significantly higher.  The VIX opened lower and closed lower.

The NDX +2.50%, gaps higher, trends up as mega-caps rise and closed broadly higher.

SBUX +18.87, +24.50%, leads the SPX on Tuesday as it names Brian Niccol, CEO of CMG as its new CEO.

CPI Report Wednesday 8:30 am ET BMO.

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

SPY up 8.77 at 542.04, 51.6 million shares, average volume

VIX down 2.59 at 18.12

QQQ up 11.20 at 462.58

INTC, NKE, BA, AMZN led the DJIA, 25 advancers, +16

SBUX, EL, NVDA, WBD, AVGO led the SPX, 423 advancers

SBUX, NVDA, MRVL, ARM, TSLA led the NDX, 91 advancers

Up:  QQQ, IWM, SPY, DIA,

Down: 

Ten of eleven sectors were higher on Tuesday, led by XLK, XLY and XLC.

The SPY MFC green line is pointed up at 38.7 and is short-term bullish.

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

Neutral sectors:  XLE, XLY,

Down trend sectors: 

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

3-month Intermediate Term Market Trend: Up a little

3-day Short Term Market Trend: Up

91 of 100 NDX stocks closed higher on Tuesday.

40 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, IDXX, LIN, META, COST, PANW, TTD, SBUX, ADSK, ANSS, CCEP, CMCSA, INTU, NFLX, ODFL,

NDX Stocks to Watch on Wednesday:

Moving Above 30 DMA = 7

ADSK, ANSS, CCEP, CMCSA, INTU, NFLX, ODFL,

Moving Below 30 DMA = 1

FANG,

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