SPX, NDX, DJI, RUT Pullback Form Day One of Potential Bull Flag Pattern...Communication Services, Consumer Staples, Technology Lead Sectors...October CPI Report Wednesday BMO...

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The SPX -17.36, 5,983, opened flat, sold off, rallied and closed lower near Monday’s low.  The DJI closed lower at 43,910, and formed a bearish engulfing pattern.

NDX -0.17% opened flat, pulled back midday and rallied to close slightly lower,  Traded in a sideways range for the third day.

RUT moved below the low of the high day, formed the first pullback day of a potential bull flag setup.   

ADBE +21.94, +4.35%, opened slightly higher, trended up, made a reversal BO and closed higher.

TSLA -21.51, -6.15%, after rising 39% over the past 4 trading days, moved below the low of the high day (Monday) and formed the first pull back day of a potential bull flag.

October CPI report Wednesday 8:30 am ET.

Mega caps NVDA, MSFT, AMZN, GOOGL, META rose AAPL was unchanged and BRK/B, TSLA on Tuesday.

SPY down 1.86 at 596.90, 42.9 million shares, average volume,

VIX down .26 at 14.71

QQQ down .93 at 512.91

HON, NVDA, MSFT, AMZN led the DJIA, 9 advancers, -6    

TSN, DXCM, LYV, ADBE, FOXA led the SPX, 142 advancers

DXCM, ZS, ADBE, WDAY led the NDX, 44 advancers

Up:   

Down:  QQQ, SPY, DIA, IWM,

The SPY MFC green line is pointed up at 95.1 and is short-term bullish, +7.1.

Three of eleven sectors were higher on Tuesday, led by XLC, XLP and XLK. 

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

Neutral sectors: 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

44 of 100 NDX stocks closed higher on Tuesday.

61 NDX stocks are above their 30 DMA:  GILD, PAYX, DASH, TTD, ADSK, CSCO, BKNG, FAST, TMUS, ADP, ILMN, MRVL, NVDA, LULU, TEAM, PANW, TTWO, MNST, EA, ISRG, NFLX, CMCSA, BKR, TSLA, GOOGL, ODFL, CDNS, SNPS, CHTR, VRSK, VRTX, WBD, XEL, AMZN, ANSS, CRWD, INTU, ZS, PCAR, COST, CSX, CTAS, GFS, INTC, MAR, MDB, WDAY, CPRT, CTSH, FTNT, HON, ORLY, PYPL, ROP, TXN, CSGP, META, DXCM, SBUX, ADBE, MSFT,

NDX Stocks to Watch on Wednesday:

Moving Above 30 DMA = 1

MSFT,

Moving Below 30 DMA = 4

ABNB, AMGN, AVGO, MU,

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