The SPX moved below the low of the high day on Tuesday and closed down -24.32 at 1,151.06. The VIX moved up +3.37 and closed at 41.08.
SPY volume decreased to 286.5 million shares.
The SPX pullback gave a potential short term exit signal below the low of the high day, on Tuesday as did all the broad indexes.
Twelve NDX stocks including AKAM, BRCM, EXPE, FFIV, GOOG, NVDA, SHLD, STX and VRTX moved below their 30 DMA making 48 NDX stocks above the 30 DMA. In our 30 DMA Watch List, twelve stocks moved below the 30 DMA making 21 stocks above their 30 DMA.
NDX large black candle, above 30 DMA -1.45%
SPX bearish engulfing confirms shooting star, below 30 DMA -2.07%
INDU bearish engulfing, below 30 DMA -1.61%
COMPQ bearish engulfing, close below 30 DMA -2.17%
RUT bearish engulfing, below 30 DMA -4.15%
Breadth weakenedened as decliners led advancers 4.83 to 1 on the NYSE and weakened slightly 5.27 to 1 on the NASDAQ …
Exchange NYSE NASDAQ
Advancers 522 401
Decliners 2,523 2,116
Leading stocks > +2% on Wednesday FAZ
Losing stocks < -2.0% included SOHU, ANR, PCX, VECO, TSL, JDSU, CLF, AKS, FAS, WLT, CIEN, FCX, ENTR, SLW, SINA, UCO, MCP, CDE, IL, CF, DOW, LDK, CREE, POT, X, HAL, A, ATI, ZION, CROX, JNPR, FWLT, MOS, KKD, BAC, URE, SLB, SWN, GES, NDAQ, RVBD, LNKD, RCL, C, CRUS, WDC, NTES, TPX, HUM, STI, SWKS, ESI, SNDK, CAT, SWK, DHR, GS, CRM, NVDA, CHL, UNP, ARUN, SMH, FFIV, VMW, DLR, DE, INFA, COH, NKE, LVS, GLW, ICE, CSTR, V, NGLS
All nine sectors moved lower on Wednesday. Technology XLK -0.16%, Utilities XLU -1.01%, Consumer Discretionary XLY -1.71% and were the strongest sectors.
SPX
Resistance: 1,160, 1,177, 1,200
Support: 1,146, 1,134, 1,117
The short term 3 day trend is neutral.
The six-month trend is down.
The twelve-month trend is neutral.
Trade with the trend of the chart you are trading.
Bullish entry signal is a bounce off support and a break above the high of the low day or a break out of horizontal resistance.
Bearish entry signal is a break of short term support or a bounce down from the 30 DMA or other resistance.
NDX 100 stocks stronger than the NDX include AMZN, DLTR, PAYX, VMED, ORLY, FLEX, TEVA, SPLS and DTV.
Stocks weaker than the NDX include FSLR, CTRP, MU, BIDU, JOYG, WCRX, ALTR, MYL, VRTX and ERTS.
Stocks to Watch on Thursday
Holding Above 30 DMA = 21
TLT, GMCR, V, DECK, ICE, SNDK, CMG, COH, CRUS, HUM, NDAQ, UAL, IBM, FAZ, ARUN, INFA, NKE, SMH, TIF, ANF, HLF
Moving Above 30 DMA = 0
Moving Below 30 DMA = 12
CHL, CRM, CROX, CSTR, DHR, ENTR, FFIV, IL, NVDA, STI, SWKS, TPX
Staying Below 30 DMA
VMW, JDSU, LVS, NGLS, SLW, SWN, A, CIEN, CREE, DE, RCL, URE, ATI, CF, DOW, GES, KKD, LNKD, MOS, RVBD, SINA, UNP, WDC, CDE, CLF, DLR, F, FAS, MCP, POT, UCO, WLT, ZION, AKS, CAT, FWLT, PCX, JNPR, NTES, SOHU, ZAGG, GLW, SWK, TSL, BAC, VECO, LDK, HAL, ESI, FCX, GS, SLB, ANR, C, TBT, X
Seven Week Intermediate Term Market Trend: Neutral
Short Term Market Trend: Neutral
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