Rally Fades as Stocks Fall Back to Support...

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The DJIA, closed down 165 points at 24,117, led by weakness in MCD, MMM, JPM, UNH, IBM and MSFT.

Two sectors were higher on Wednesday, led by energy XLE +1.34% and utilities XLU +0.48%.

SPY down 2.25 at 269.35, on 105.1 million shares, 44% above average volume. Down on higher volume

VIX up 1.99 at 17.91

Oil up 1.62 at 72.30

TLT up 1.14 at 122.11 on 8.1 million shares.

CVX +1.48%, XOM +1.33%, led the DJIA, 4 advancers.

CXO +4.62%, FCX +16.90% and APA +3.89%, led the SPX.

REGN +2.87%, FOXA +2.35%, ESRX +1.16%, and TSLA +0.73%, led the NDX.

Intermediate and long term up trend intact.  3-day short term trend is down.

Up:

Down: DIA, SPY, QQQ, IWM

Breadth weakened on Wednesday, as decliners led 2,093 to 817 on the NYSE and led 2,348 to 595 on the NASDAQ

The SPY MFC green line is pointed down at 48, short-term bearish. 

Uptrend sectors:  XLY, XLK, XLRE, XLE, XLV

Neutral sectors: XLF, XLI, XLB, XLU, XLP

Down trend sectors:

Intermediate-term trending stocks: 

RACE, ADBE, IBKR, ETFC, MA, V, ISRG, WIX, NDAQ, WYNN, VRSN, TAL, COP, CRM, NTAP, RNG, AA, WUBA, FCAU, NVDA, SQ, ALGN, AKAM, SHOP, EL

BA, MU, MAR, CMA, CME, ANET, HRS, KORS,

DLTR, WB, TPR,

5 of 100 NDX stocks closed higher on Wednesday.

25 NDX stocks are above their 30 DMA.  COST, FB, NFLX, FOXA, ALGN, EA, AMGN, ESRX, KHC, REGN, ROST, TSLA, CHTR, HAS, MDLZ, MNST, DISH, TMUS, HOLX, HSIC, NTES, WBA, CTSH, ALXN, ISRG,

NDX Stocks to Watch on Thursday:

Moving Above 30 DMA = 0

Moving Below 30 DMA = 19

ADI, ADP, AMZN, ATVI, BMRN, CA, CDNS, CMCSA, CTAS, CTRP, EXPE, FISV, GILD, GOOGL, IDXX, JD, ORLY, PAYX, TTWO,

The 6-month intermediate and long-term trends are still up.  The three-month trend is sideways.  The ten-day trend is down.

3-month Intermediate Term Market Trend: Sideways

3-day Short Term Market Trend: Down

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