SPX Drops 3% as NDX Falls 5%...ZM, NVDA, TSLA, AMD, AAPL Lead the Decline...

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NDX -646.09, -5.20%, closed below the low of the high day led by weakness  in ZM, NVDA, TSLA, AMD, AAPL, GOOGL and MSFT.. 

SPX -125.78, -3.51%, closes at 3,455 a close below the low of the high day pullback.   

All eleven sectors were lower on Thursday, led by XLE, XLU and XLF.

SPY down -12.31 at 345.39 on 148 million shares, above average volume, down on higher volume.

VIX up +7.03 at 33.60

VZ, AXP led the DJIA, 2 advancers, -26

CCL, IVZ, NCLH, RL led the SPX, 56 advancers

MRNA, ULTA led the NDX, 2 advancers

The two-year trend term is up.  The one-year trend is up.

Up:

Down: DIA, IWM, SPY, QQQ,

Breadth weakened on Thursday as decliners led 2,407 to 583 on the NYSE and led 2,774 to 667 on the NASDAQ

The SPY MFC green line is pointed at 91 and is counter trend defensive.  We alerted you Monday, Tuesday and Wednesday "to stay alert for a potential pullback below the low of the high day" and it happened today.  Price action is a is a close below the LOHD pullback.

Uptrend sectors:  XLI, XLP, XLB, XLY, XLK, XLC, XLV,

Neutral sectors:  XLU, XLRE, XLF, XLE,

Down trend sectors:

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

3-month Intermediate Term Market Trend: Up

3-day Short Term Market Trend: Down

2 of 100 NDX stocks closed higher on Thursday.

60 NDX stocks are above their 30 DMA:  AMZN, NVDA, AAPL, PYPL, VRSK, COST, MNST, CHTR, CMCSA, CTSH, AMD, CTAS, ISRG, LULU, ORLY, CPRT, CSX, TCOM, QCOM. SBUX, AVGO, FB, NXPI, TMUS, TXN, BKNG, ULTA, MAR, PAYX, EXPE, ADBE, ANSS, INTU, MSFT, PEP, TSLA, FOXA, ADSK, GOOGL, NTES, SNPS, WDAY, ZM, MCHP, ADI, ASML, KHC, ROST, AMGN, LBTYA, SPLK, ALXN, DOCU, NFLX, CERN, INTC, ALGN, XLNX, ADP, FISV, XEL,

NDX Stocks to Watch on Friday:

Moving Above 30 DMA = 0

Moving Below 30 DMA = 27

AMAT, ATVI, BIDU, BIIB, CDNS, CDW, CHKP, CTXS, DXCM, EXC, FAST, IDXX, KHC, KLAC, MELI, MU, MXIM, PCAR, PDD, SIRI, SWKS, TTWO, VRSK, VRSN, VRTX, WDC, XLNX,

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