SPY, QQQ, DIA Mixed, Make Daily Higher High and Higher Low...

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SPY gapped higher on strong futures overnight after positive comments on US/China trade and sold off until 2 pm after concerns surfaced regarding a potential government shutdown.  Buyers took control shortly after 2 pm almost $4 before a pullback headed into the close.  QQQ, SPY and DIA are still channel bounce setups for Wednesday.

The DJIA, closed down 53 points at 24,370, led by weakness in BA, GS, TRV, V and MCD.  This is the fourth close below 25,000 since Nov 27.

Eight of eleven sectors were higher on Tuesday, led by staples XLP +0.82% and utilities XLU +0.41%.

SPY up .06 at 264.13 on 121.5 million shares, 7% above average volume. Up on lower volume.

VIX down .88 at 21.76 

Oil up 1.07 at 51.96

TLT down .02 at 118.88 on 8.0 million shares. 

NKE +1.46%, VZ +1.00%, led the DJIA, 14 advancers, -2

EQT +3.31%, TWTR +3.17% and LMT +4.56%, led the SPX.

NXPI +3.79%, AVGO +3.17%, WDAY +2.04%, and ISRG +2.00% led the NDX.

Long term up trend intact.  3-day short term trend is down.

Up:  QQQ, SPY,

Down: IWM, DIA

Breadth strengthened on Tuesday, as decliners led 1,625 to 1,311 on the NYSE and led 1,719 to 1,323 on the NASDAQ

The SPY MFC green line is turned down at 32 and is short-term bearish.

Uptrend sectors:   XLRE, XLU, XLV, XLP,

Neutral sectors:  XLI, XLB, XLY, XLC, XLK,

Down trend sectors: XLF, XLE,

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

3-month Intermediate Term Market Trend: Down

3-day Short Term Market Trend: Down

65 of 100 NDX stocks closed higher on Tuesday.

34 NDX stocks are above their 30 DMA.  SBUX, TSLA, PEP, XLNX, FOXA, MDLZ, MNST, SYMC, CTXS, XRAY, MXIM, NTES, HOLX, PAYX, VOD, WDAY, ADP, CSCO, ILMN, MELI, SIRI, VRTX, EBAY, REGN, ADBE, ADI, AMGN, AMZN, AVGO, MCHP, MSFT, PYPL, FB, WBA,

NDX Stocks to Watch on Wednesday:

Moving Above 30 DMA = 2

FB, WBA,

Moving Below 30 DMA = 2

ADSK, WYNN,

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