SPX Breaks Mid-channel Support Falls 45 Points Towards Last Week's Support...

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• SPX gaps lower at the open breaking mid-channel support falling 45 points towards last Thursday’s support low. 
• SPX closes at 2,893, down -4.23% from Sep 19th 3,021 high and up +1.29% from its Oct 3 low of 2,856. 
• Our current technical assessment is an Aug – Oct sideways channel falling towards next support of 2860.

The DJIA, closed down 314 points at 26,164 led by weakness in GS, IBM, MMM, AAPL and JPM.  Closing below 27,000 for the thirteenth straight day.

All eleven sectors were lower on Tuesday, led by XLRE and XLU.

SPY down 4.55 at 288.53 on 101.5 million shares, above average volume.  Down on higher volume.

VIX up 2.42 at 20.28

Oil down .23 at 52.57

TLT up .39 at 145.17 on 14.5 million shares.
GLD up 1.23 at 141.92

WMT, HD, MCD led the DJIA, 1 advancer, -7

MSI, NEM, LHX led the SPX, 30 advancers

AAL, TSLA, REGN, DLTR led the NDX, 5 advancers

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

Up:

Down: DIA, QQQ, SPY, IWM,                       

Breadth weakened on Tuesday as decliners led 2,206 to 738 on the NYSE and led 2,431 to 664 on the NASDAQ

The SPX MFC green line is below 80 and is pointed down at 42 and is short-term bearish.

Uptrend sectors: XLU, XLRE, XLP, XLK,

Neutral sectors:  XLY, XLC, XLF, XLI, XLB, XLV,

Down trend sectors: XLE,

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

3-month Intermediate Term Market Trend: Sideways

3-day Short Term Market Trend: Down

5 of 100 NDX stocks closed higher on Tuesday.

22 NDX stocks are above their 30 DMA:  KLAC, AAPL, ASML, DLTR, CTXS, HAS, ROST, CTAS, ALGN, ULTA, ATVI, CELG, CHTR, NVDA, PEP, XRAY, CHKP, COST, LULU, ROST, SWKS, TSLA, 

NDX Stocks to Watch on Wednesday:

Moving Above 30 DMA = 1

REGN,

Moving Below 30 DMA = 16

AMAT, EXPE, HSIC, ILMN, INTC, ISRG, LRCX, MCHP, MDLZ, MXIM, NTAP, NXPI, PAYX, SIRI, TXN, WDAY,

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