SPX Closes Higher as Tech Stocks Cool After Report of Lower-than-expected iPhone 16 pre-oreders...Financials, Energy, Communication Services Lead Sectors...FOMC Meeting Starts Tomorrow, Rates Expected...

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The SPX +7.07, 5,633, opened slightly lower, traded in a narrow range and closed slightly higher.  VIX opened higher, traded in narrow range and closed slightly higher.

The NDX -0.47%, opened lower after a pre-market decline in AAPL, Mega-cap and tech stocks.

NVDA -2.32, -1.95%, opened lower in sympathy with a tech stock decline pre-market following a report that AAPL iPhone 16 pre-orders were lower than expected.

AVGO -3.67, -2.19%, opened lower in sympathy with a tech stock pre-market decline.

ADBE -15.37, -2.86%, opened flat and continued to trend down after a negative EPS reaction on Friday because of lowered Q4 guidance.

FOMC announcement Wednesday, 2 pm ET and press conference 2:30 pm ET.  A rate cut of at least 25 bps is expected.

Mega caps META, BRK/B, GOOGL, MSFT rose AMZN, TSLA, NVDA, AAPL fell on Monday.

SPY up .83 at 562.84, 36.6 million shares, below average volume

VIX up .58 at 17.14

QQQ down 2.10 at 473.24

INTC, MRK, CSCO, TRV led the DJIA, 25 advancers, +1

INTC, BBWI, ORCL, VST led the SPX, 385 advancers

INTC, CRWD, DLTR, PDD led the NDX, 56 advancers

Up:  DIA, IWM, SPY,

Down:  QQQ,

Nine of eleven sectors were higher on Friday, led by XLF, XLE and XLC.

The SPY MFC green line is pointed up at 87.4 and is short-term bullish. +6.1

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

Neutral sectors: 

Down trend sectors:  XLE,

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: Up

56 of 100 NDX stocks closed higher on Monday.

69 NDX stocks are above their 30 DMA:  CTAS, GILD, AEP, CTSH, ADP, PAYX, EXC, XEL, MDLZ, KDP, PYPL, DASH, MELI, ISRG, FTNT, GEHC, COST, PANW, TTD, SBUX, ADSK, CCEP, NFLX, CSCO, MRVL, ROP, ROST, WDAY, TTWO, BKNG, CSGP, TEAM, MAR, VRSK, MDB, PEP, MNST, AMZN, FAST, IDXX, LIN, PCAR, TMUS, TSLA, AMD, AMGN, ARM, INTU, MSFT, ADI, ANSS, AVGO, CEG, CRWD, HON, LULU, NVDA, CDNS, CDW, META, PCAR, VRTX, WBD, ABNB, ILMN, KHC, ORLY, QCOM, TXN, CSX, INTC,

NDX Stocks to Watch on Tuesday:

Moving Above 30 DMA = 2

CSX, INTC,

Moving Below 30 DMA = 4

AAPL, CMCSA, QCOM, TXN, 

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