SPX, NDX, DJI Closed Lower in a 2-day Bull Flag Pattern, Bounce from Intraday Low...Energy, Utilities, Consumer Discretionary Led Sectors...

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SPX -18.95, 6,637, pulled back for a second day forming a bull flag price pattern.  Breadth was mixed and remained weak on Wednesday.

An uptrend that made a higher high on Monday and pulled back for a second day in a bull flag pattern.  Dave

NDX -0.31%, pulled back for a second day. 

DJI, 46,121, -0.37%, pulled back for a second day, led by weakness in GS, AMZN and IBM.

NVDA -1.46, -0.82%, pulled back for a second day.

AVGO +0.37, +0.11%, formed a hammer in a bull flag price pattern. 

Mega caps TSLA, META, BRK/B, MSFT, AVGO rose and AMZN, TSM, NVDA, AAPL, GOOGL fell on Tuesday. 

SPY down -2.11 at 661.10, 68.0 million shares, average volume,

VIX down -0.46 at 16.18

QQQ down -2.10 at 596.10

UNH, CVX, DIS, CRM led DJIA, 11 advancers, -4

XEL, INTC, CNC, MOS led SPX, 218 advancers,

MRVL, XEL, INTC, TSLA led NDX, 43 advancers.

Up:  

Down: SPY, QQQ, DIA, IWM,

The SPY MFC green line is flat at 91.6 and is short-term bullish. -2.1

Four of eleven sectors were higher on Wednesday led by XLE, XLU and XLY. 

Uptrend sectors: XLK, XLC, XLY, XLI, XLF, XLB, XLE, XLU,

Neutral sectors: XLP, XLV, XLRE,

Down trend sectors:

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

3-month Intermediate Term Market Trend: Up

3-day Short Term Market Trend: Down a little

43 of 100 NDX stocks closed higher on Wednesday.

50 NDX stocks are above their 30 DMA: GOOGL, ORLY, PDD, BKR, APP, VRTX, AAPL, MNST, MU, INTC, ADI, PANW, QCOM, TSLA, TTWO, MDB, ADSK, AVGO, ASML, GEHC, LRCX, DDOG, KLAC, DASH, WBD, ZS, MRVL, TEAM, CRWD, CEG, PLTR, AMAT, BKNG, CDNS, FTNT, CDW, MDLZ, MELI, ON, WDAY, CDNS, MRVL, INTU, MSFT, GFS, NVDA, CSX, EXC, FANG, XEL, ARM, CCEP, MCHP, META, REGN, ROST,

NDX Stocks to Watch on Thursday:

Moving Above 30 DMA = 6

ARM, CCEP, MCHP, META, REGN, ROST,

Moving Below 30 DMA = 7

ADBE, AMGN, AXON, CHTR, EA, IDXX, LIN,

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