DJI, RUT, SPX, NDX, Close Lower...VIX Closed Higher...Breadth Weakened...Technology Sector Led to the Downside...

© 2026

SPX -37.00, 7,619 opened and closed lower, but closed above Thursday’s high.  Breadth weakened as decliners led on both the NYSE and the NASDAQ exchanges.  The VIX rose to 17.10.  RUT 2,892 pulled back to Thursday’s short-term support. Oil /CL rose +1.84 and closed at 101.89.   

The CME FedWatch tool gives a 25 basis point hike, by the FOMC on Wednesday, a 92.4% probability.  After re-looking at the CPI chart and the categories in the release we don’t see the reason in the data.  If the Fed is data dependent, as they have claimed over the past 10+ years, the Fed Funds bond traders seem to be looking at 11 secret herbs and spices in the data.

                        click to enlarge

SPX advancers: CRWD PANW IT COIN FTNT ADSK NOW CTSH TYL FDS GDDY.

SPX decliners: GLW TER COHR HPE SWKS LITE GEV CIEN SMCI LRCX VRT.

SPY -3.41, -0.45%, above average volume of 43.9 million shares, remained > HOLD and short-term support. 

VIX +1.26, 17.10 closed higher.

NDX -0.82% closed lower.

DJI, 52,421 -0.29%, remained > HOLD.

Up:

Down: DIA, IWM, SPY, QQQ,

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

SPCX closed at 148.15, -3.06, on volume of 67.6 million shares. Our view is that SPCX, with no earnings, remains an overvalued speculation.  IPO at 135 on June 12.  In the end if buyers are greater than sellers the stock will rise.  People seem to be willing to speculate on this company’s fundamental future. 

The SPY MFC green line is down at 63.7 price-action on Monday opened lower, bounced, closed above Thursday’s high and is short-term bullish. -5.3

Three of eleven sectors were higher on Monday. 

55 of 100 NDX stocks closed higher on Monday.

29 NDX stocks are above their 30 DMA: WBD, GILD, SPCX, SNDK, KDP, MSTR, TSLA, QCOM, AAPL, ALNY, META, AMD, INTC, FANG, MSFT, TMUS, ADP, APP, AZN, CPRT, CRWD, FTNT, GOOGL, ISRG, NFLX, PANW, PLTR, TRI, WDAY,

NDX Stocks to Watch on Tuesday

Moving Above 30 DMA = 13

ADP, APP, AZN, CPRT, CRWD, FTNT, GOOGL, ISRG, NFLX, PANW, PLTR, TRI, WDAY,

Moving Below 30 DMA = 10

ADI, ARM, CEG, LITE, MRVL, MU, NBIS, NXPI, TER, TXN,

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DJI, NDX, SPX, RUT Closed Higher...Breadth Strengthened, Advancers Led...VIX Fell...CPI Report...

© 2026

SPX +65.28, 7,656 opened and closed higher, on a horizontal re-BO.  Before the open the CPI report was M/M 0.4% vs 0.4%, Y/Y 3.4% vs 3.4% consensus, Core CPI M/M 0.3% vs 0.2%, Y/Y 2.4% vs 2.4% consensus.  Drivers of inflation included Y/Y % change in gasoline +27.4%, airline fares +23.4%, tobacco +6.3%, motor vehicle maintenance +6.3%. Do those categories look like a Fed ¼% rate hike will lead to a slow down?

Oil /CL fell -2.49 and closed at 99.99.  Breadth strengthened as advancers led on both the NYSE and the NASDAQ exchanges.  The VIX fell and closed at 15.84.  RUT 2, 903 bounced.

SPX advancers: HPE DELL NTAP ON HPQ CDW SMCI FLEX ANET FISV MRNA.

SPX decliners: STX SNDK ALB WDC EW CPRT UNH PANW CBOE EXE YUM.

SPY +6.46, +0.85%, on above average volume of 45.5 million shares, close above the HOLD and short-term support. 

VIX -2.00, 15.84 closed lower.

NDX +0.91% closed lower.

DJI, 52,573 +0.98%, closed > HOLD.

Up: DIA, QQQ, SPY, IWM,

Down:

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

SPCX closed at 151.21, +3.03, on volume of 79.2 million shares. Our view is that SPCX, with no earnings, remains an overvalued speculation.  IPO at 135 on June 12.  In the end if buyers are greater than sellers the stock will rise.  People seem to be willing to speculate on this company’s fundamental future. 

The SPY MFC green line is down at 69, price-action on Friday moved above the HOLD, and re-broke out of resistance and is short-term bullish. -4.2

Nine of eleven sectors were higher on Friday. 

63 of 100 NDX stocks closed higher on Friday.

26 NDX stocks are above their 30 DMA: CEG, LITE, WBD, GILD, SPCX, MU, SNDK, KDP, MSTR, TSLA, QCOM, AAPL, ALNY, META, AMD, INTC, NBIS, MRVL, FANG, ADI, ARM, MSFT, NXPI, TER, TMUS, TXN,  

NDX Stocks to Watch on Monday

Moving Above 30 DMA = 7

ADI, ARM, MSFT, NXPI, TER, TMUS, TXN,

Moving Below 30 DMA = 4

CRWD, MELI, NVDA, STX,

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SPX, DJI, RUT, NDX Closed Lower...Breadth Continued Negative...VIX and Oil Rose...CPI Report Friday BMO...

© 2026

SPX -44.66, 7,591 opened and closed lower, below its August 4 horizontal breakout level.  Before the open the PPI report was M/M 0.4% vs 0.4%, Y/Y 5.4% vs 5.3% consensus, Core M/M 0.2% vs 0.3%, Y/Y 4.6% vs 4.6% consensus.  CPI report is Friday 8:30 am EDT.

Oil /CL rose +7.26 its highest close, 103.93 since May 19.  Breadth remained negative as decliners led on both the NYSE and the NASDAQ exchanges.  The VIX rose again on Thursday and closed at 17.84, its highest close since July 29.  RUT 2,890 broke support on Thursday.

SPX advancers: SWKS RDDT ELV CHTR AAPL F APP GDDY GM TTWO APTV.

SPX decliners: COO BKR FCX HPE FDS LRCX VRT INTC LITE ORCL DELL.

SPY -4.57, -0.60%, on average volume of 42.7 million shares, close below short-term support. 

VIX +1.38, 17.84 closed higher for a fifth day.

NDX -1.08% closed lower.

DJI, 52,064 -0.60%, closed at its lowest close since July 29.

Up:

Down: SPY, DIA, IWM, QQQ,

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

SPCX closed at 148.18, +0.63, on volume of 118.5 million shares. Our view is that SPCX, with no earnings, remains an overvalued speculation.  IPO at 135 on June 12.  In the end if buyers are greater than sellers the stock will rise.  People can be willing to speculate on this company’s fundamental future. 

The SPY MFC green line turned down at 73.2, price-action on Thursday fell below multi-week support and is counter-trend defensive. -2.9

Two of eleven sectors were higher on Thursday. 

34 of 100 NDX stocks closed higher on Thursday.

23 NDX stocks are above their 30 DMA: CEG, LITE, WBD, GILD, SPCX, MU, SNDK, KDP, MSTR, TSLA, QCOM, NVDA, AAPL, ALNY, META, CRWD, AMD, INTC, NBIS, MRVL, STX, FANG, MELI,

NDX Stocks to Watch on Friday

Moving Above 30 DMA = 1

MELI,  

Moving Below 30 DMA = 11

ARM, ASML, BKR, CPRT, CRWV, LRCX, MSFT, PLTR, REGN, TER, WDC,

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