Weak Consumer Confidence and Mfg. Economic Data Followed by SPX Break of Short-term Support...

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Tuesday:

SPX opens higher then reverses from 3,007 high to close at 2966 after:

• Sept. Consumer confidence 125.1 vs. 133.01, lower than expected,
• Sept. Richmond Fed Manufacturing -9 vs. -1, lower than expected, and
• UN speech by President,
• House announces formal impeachment inquiry,
• After the close, NKE +4.77, 5.47%, on positive EPS reaction.

SPX closes down -1.83% from Thursday’s 3,010 high.

The DJIA, closed down 142 points at 26,807 led by weakness in GS, UNH, CAT, MMM and MSFT.  Closing below 27,000 for the third straight day.

Only two of eleven sectors were higher on Tuesday, led by utilities XLU +1.17% and staples XLP +0.41%.

SPY down 2.34 at 295.87 on 97.2 million shares, 35% above average volume.  Down on higher volume.

VIX up 2.14 at 17.05

Oil down 1.69 at 56.80

TLT up 1.71 at 143.57 on 12.9 million shares.

GLD up .76 at 144.51

BA +1.23%, WMT +0.66%, led the DJIA, 7 advancers, -11

CAG +2.28%, HBI +2.27% and CBOE +1.99% led the SPX.

ISRG +2.56%, XRAY +1.45%, WYNN +1.16% and ULTA +0.91% led the NDX.

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

Up:  

Down: DIA, SPY, QQQ, IWM,

Breadth weakened on Tuesday decliners led 2,015 to 909 on the NYSE and led 2,440 to 654 on the NASDAQ

The SPY MFC green line is in the upper zone and pointed down at 85.8 and is counter-trend defensive.

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

Neutral sectors:  XLV, XLE,

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

11 of 100 NDX stocks closed higher on Tuesday.

55 NDX stocks are above their 30 DMA:  SBUX, CELG, KLAC, NTES, PEP, EA, ATVI, BKNG, CHTR, COST, JBHT, CMCSA, AAPL, SIRI, ASML, LRCX, MU, NVDA, WDC, DLTR, AMAT, AVGO, CSX, CTXS, INTC, NXPI, TXN, EXPE, FAST, GOOGL, LULU, MCHP, MXIM, NTAP, SWKS, WBA, ADSK, GILD, TMUS, UAL, HAS, KHC, BIIB, CSCO, ILMN, ISRG, WLTW, MNST, MSFT, ORLY, SNPS, ALGN,  REGN, ROST, XRAY, MDLZ,

NDX Stocks to Watch on Wednesday:

Moving Above 30 DMA = 1

MDLZ,  

Moving Below 30 DMA = 10

AAL, ADI, EBAY, FB, HSIC, MYL, PAYX, QCOM, SYMC, TSLA, 

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