US Equities Sink...3rd Biggest Drop Of The Year...Weak China Data Cited...Only 3 Of The S&P 500 Turned Positive...2 Of The 100 NDX Gained...

All nine sectors moved lower on Tuesday… XLP, XLY, XLV were the strongest sectors while XLK, XLF, AND XLE were the weakest sectors.  All sectors were down at least 2% or more for the day.

Breadth weakened as decliners led advancers 6.20 to 1 on the NYSE and 4.47 to 1 on the NASDAQ.

Tuesday – weakened, decliners led

Monday – weakened, decliners led

Friday – weakened, advancers led

Thursday – strengthened, advancers led

Wednesday – strengthened, advancers led

SPY down 5.90 at 191.77 on 254 million shares, above average volume

VIX up 2.97 at 31.40…

TNX down .28 at 21.72…

TLT down .94 at 121.42…15.2 million shares, above average volume

XLF down .76 at 22.67…70 million shares, above average volume

AAPL down 5.04 at 107.72 on 76.6 million shares

FB down 2.20 at 87.23 on 35.9 million shares

Technical Commentary:

IWM -2.86%, DIA –2.86%, SPY -2.98%, QQQ -3.13%.

Trade with the trend of the chart you are trading and continue to move your profit protection stops.  Continue to follow your rules.

Short-term Chart Targets:

SPY =...200.00

QQQ = 106.47…

IWM = 116.66, 117.50…

Support Levels

SPY = 196.03, 194.95...

QQQ = 100.49, 99.29…

IWM = 114.76, 111.79...

The SPX Market Forecast is turned up at 35.

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Setups

Horizontal Breakout:  

Diagonal Breakout: UNG,  

Bull Flag: CREE, SWI,

Potential Bullish Divergence:  

Gap Up: 

Gap Down: 

Bear Flag:

At Support:  

C- Pattern: 

Moves

New Highs: 

H Breakout: JCP,   

D Breakout:  

Bull Flag Bounce:

MACD Divergence Bounce:

Bounce: VIAV,

Gap Up: VXX,   

Gap Down: SPY, IWM, QQQ, AIG, BAC, BX, C, CCL, CRM, ETFC, FAS, GPRO, HOG, NKE, SCHW, STI, SWKS, V, VRSN, IBM, JNPR, MFRM, ADBE, MAR, MSFT, NFLX, NTAP, XLNX,

C- Pattern:                                                          

Bear Flag:  

Support Break: SVXY, W, WYNN,

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Watch List Stocks

Leading stocks > +2% on Tuesday: VXX, SUNE

                                                       

Lagging stocks < -2.0% included: SVXY, FAS, AMBA, QIHU, GPRO, BX, SWKS, ETFC, TSL, C, STI, BAC, FIT, ZION, SOHU, SSCTY, SCHW, EXPE, MBLY, CRM, RPD, MS,TASR, SPLK, PYPL, VRSN, SHIP, SHAK, V, CTRP, QQQ, GME, SLCA, X,SPY, CCL, AXTA, IWM, NCLH, SUM, NKE, TPX, P, AIG, YOKU, HOG, UA, W, RCL,  

2 of 100 NDX stocks closed higher on Tuesday.

Leading NDX 100 stocks included: AAL, LVNTA

Lagging NDX stocks included: DLTR, NFLX, WYNN, AVGO, SWKS, LLTC, AAPL, LRCX, VIP, TSLA

NDX Stocks to Watch on Wednesday:

Moving Above 30 DMA = 0

Moving Below 30 DMA = 9

AVGO, BRCM, MAT, NFLX, PCLN, SPLS, SRCL, WDC, XLNX

6-month Intermediate Term Market Trend: Down

3-day Short Term Market Trend: Down