SPY Gaps Down, Bounces at May 13 Support Area...

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The DJIA, closed down 286 points at 25,490, led by weakness in UTX, IBM, GS, AAPL and UNH.  Closing below 26,000 for the thirteenth day after trading above 26,000 for the previous twenty-five trading days. 

Two of eleven sectors were higher on Thursday, led by utilities XLU +0.86% and real estate XLRE +0.49%.

SPY down 3.49 at 282.14 on 98.7 million shares, 34% above average volume. Down on higher volume.

VIX up 2.17 at 16.92

Oil down 3.13 at 58.19

TLT up 1.42 at 127.67 on 9.7 million shares. 

HD +1.64%, INTC +1.20%, led the DJIA, 6 advancers, -6

LB +12.84%, CPRT +7.95% and MDT +3.24%, led the SPX.

MELI +1.96%, INCY +1.87%, SNPS +1.67% and TSLA +1.43% led the NDX.

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

Up:

Down: DIA, SPY, QQQ, IWM

Breadth weakened on Thursday, as decliners led 2,242 to 634 on the NYSE and led 2,404 to 658 on the NASDAQ

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

Uptrend sectors: XLP, XLRE, XLU, XLY, XLK, XLI, XLC,

Neutral sectors:  XLF, XLB, XLE, XLV,

Down trend sectors:

The 6-month intermediate trend is up.  The ten-day trend is down.

3-month Intermediate Term Market Trend: Up

3-day Short Term Market Trend: Down

10 of 100 NDX stocks closed higher on Thursday.

34 NDX stocks are above their 30 DMA:  MDLZ, PAYX, VRSK, CHKP, PEP, SBUX, NTES, ILMN, CELG, CERN, HSIC, CTAS, WYNN, CHTR, TMUS, HAS, INTU, IDXX, MNST, XRAY, TTWO, INCY, MELI, MSFT, VRSN, WDAY, BMRN, CELG, COST, GILD, FISV, INCY, VRTX, 

NDX Stocks to Watch on Friday:

Moving Above 30 DMA = 1

VRTX,

Moving Below 30 DMA = 11

ADBE, ADP, ADSK, ALGN, BIIB, CSCO, LULU, PYPL, SBUX, ULTA, WLTW,

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