SPY, DIA, IWM, QQQ Close Below the Low of the High Day...

Two of nine sectors moved higher on Tuesday …XLU, XLP and XLV were the strongest sectors while XLE was the weakest sector.  Oil futures fell 2.42 to close at 46.86.

Breadth weakened as decliners led 2,226 to 810 on the NYSE and led 1,895 to 703 on the NASDAQ.

Tuesday – weakened, decliners led, +2

Monday – Independence Day Holiday

Friday – weakened, advancers led, +7

Thursday – weakened, advancers led, +9

Wednesday – strengthened, advancers led, +9

SPY down 1.51 at 208.41 on 109.8 million shares, 9% above average volume

VIX up .81 at 15.58

TLT up 1.76 at 142.33…on 8.8 million shares, 4% above average volume

Technical Commentary:

QQQ -0.61%, DIA -0.61%, SPY -0.72%, IWM -1.47%,

Consumer staple and real estate stocks continued strong on Tuesday as the broad market pulled back with SPX leaders DHR, EXR, O, PSA, KR, DLR, HUM, PNW, DPS, CPB, MAC, PLD, CME, KIM, UDR, CLX and FRT.

Technical analysis based trades should be closed before earnings.

Trade what you see, not…

Stocks below support should generally be traded bearishly until a reversal pattern forms.

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Remember:  “It’s a market of stocks, not just a stock market.”

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

The SPY MFC green line is pointed up at 69, bullish.

26 of 100 NDX stocks closed higher on Tuesday.

43 NDX stocks are above their 30 DMA.

NDX Stocks to Watch on Wednesday:

Moving Above 30 DMA = 0

Moving Below 30 DMA = 13

CSCO, CSX, DISH, FAST, GILD, INCY, LMCA, LRCX, MU, SIRI, TSLA, TXN, WDC

6-month Intermediate Term Market Trend: Neutral

3-day Short Term Market Trend: Up