Selloff Finds Support...TXN -5% After-hours on EPS Reaction...

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Earnings season continued on Tuesday. Positive reactions included CDNS, PHM, MCD and VZ.  Negative reactions: CAT, DGX, PCAR, MMM.

The DJIA, closed down 126 points at 25,317, led by weakness in CAT, MMM, CVX, DWDP and NKE.  This is the seventy-second consecutive close above 25,000 since June 15.

Three of eleven sectors were higher, led by real estate XLRE +0.64% and staples XLP +0.44%.

SPY down 1.40 at 273.61, on 146.3 million shares, 50% above average volume. Down higher volume.

VIX up 1.07 at 20.71 

Oil down 3.43 at 66.09

TLT up 1.07 at 113.92 on 10.3 million shares. 

MCD +6.31%, VZ +4.06%, led the DJIA, 10 advancers, -1.

PHM +7.28%, ZION +4.04% and LEN +3.38%, led the SPX.

CDNS +15.37%, TSLA +12.72%, SNPS +4.01%, and PYPL +2.50, led the NDX.

Intermediate and long term up trend intact.  3-day short term trend is down.

Up: 

Down: QQQ, SPY, DIA, IWM,

Breadth was weaker on Tuesday, as decliners led 2,071 to 879 on the NYSE and led 2,052 to 982 on the NASDAQ

The SPY MFC green line is pointed down at 27 and is short-term bearish.

Uptrend sectors:   XLU, XLP,

Neutral sectors:  XLV, XLK, XLY, XLI,

Down trend sectors: XLF, XLE, XLRE, XLC, XLB,

The 6-month intermediate and long-term trends are still up.  The three-month trend is sideways.  The ten-day trend is down.

3-month Intermediate Term Market Trend: Down

3-day Short Term Market Trend: Down

29 of 100 NDX stocks closed higher on Tuesday.

13 NDX stocks are above their 30 DMA.  ESRX, BMRN, FOXA, SBUX, WBA, QRTEA, TMUS, AAPL, CDNS, DLTR, KHC, PYPL, TSLA,

NDX Stocks to Watch on Wednesday:

Moving Above 30 DMA = 6

AAPL, CDNS, DLTR, KHC, PYPL, TSLA,

Moving Below 30 DMA = 4

HOLX, NTES, ORLY, SHPG,

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