© 2018
SPY, DIA and QQQ opened lower and moved below Monday’s
high in early trading. Selling became aggressive and
volatility started to spike around mid-day as concerns renewed over US/China
trade and worries of a 2 year/5year interest rate inversion surfaced stoking concerns about a potential economic slowdown..
The DJIA, closed down 799 points at 25,027, led by weakness in BA, UNH, MMM, GS and AAPL. This is the fifth close
above 25,000 since Nov 19.
Ten of eleven sectors were lower on Tuesday, led by utilities XLU +0.07%.
SPY down 9.05 at 270.25 on 177.9 million shares, 56% below average
volume. Down on higher volume.
VIX up 4.30 at 20.74
Oil down .47 at 52.61
TLT up 1.94 at 117.82 on 18.1 million
shares.
Long term up
trend intact. 3-day short term trend is down.
Up:
Down: DIA,
SPY, QQQ, IWM,
Breadth weakened
on Tuesday, as decliners led 2,498 to 478 on the NYSE
and led 2,644 to 425 on the NASDAQ
The SPY
MFC green line is pointed up at 69 and is lagging today’s selloff.
Uptrend sectors: XLRE, XLU, XLP, XLV,
Neutral sectors:
XLI, XLF, XLB, XLY,
Down trend sectors: XLE,
XLC, XLK,
The 6-month intermediate
trend is sideways. The ten-day trend is up.
3-month Intermediate Term Market Trend: Down
3-day Short Term Market Trend: Down
2 of 100 NDX stocks closed higher on Tuesday.
61
NDX stocks are above their 30
DMA. SBUX, WBA, TSLA, PEP, XLNX,
CMCSA, INTC, AAL, FOXA, MDLZ, MNST, SYMC, FAST, MCHP, VRSK, CTXS, XRAY, ADI,
NXPI, MXIM, NTES, AMAT, HOLX, KLAC, PAYX, PCAR, AVGO, CSX, CTAS, ORLY, VOD,
WDAY, BIIB, ESRX, ADP, ADSK, AMGN, CSCO, HSIC, ILMN, LRCX, MELI, SIRI, TXN,
WYNN, ALXN, CHTR, MSFT, VRTX, ADBE, AMZN, BKNG, CTSH, EBAY, ISRG, PYPL, REGN, DLTR,
CELG, CTRP, INCY,
NDX Stocks to Watch on Thursday:
Moving Above 30 DMA = 0
Moving Below 30 DMA = 22
ALGN, ASML, BIDU, BMRN, CDNS, CERN,
CHKP, COST, EXPE, FISV, GILD, GOOGL, IDXX, INTU, LBTYA, MAR, MU, MYL, QRTEA, SNPS,
STX, ULTA,
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