AAPL, DJIA, SPX, QQQ Fall After AAPL Supplier Lowers Guidance...3-Day Trend Turns Down...Become Defensive

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AAPL -5.04 % fell on Monday after component supplier LITE lowered its earnings forecast for its December quarter, indicating one of its largest customers had materially reduced shipments on orders.  It’s been reported that analysts at Longbow Research, WFC, and DA Davidson have indicated their view that AAPL is the customer and this indicates lower than expected demand for iPhone’s new models.  

AAPL 194.17, broke below its Nov 5 support with its lowest close  since July 31.

JPM, earlier before the open, lowered AAPL’s price target from 270 to 266.

The DJIA, closed down 602 points at 25,387, led by weakness in GS, BA, AAPL, HD and V, which accounted for approximately 344 points of Monday’s drop.  This is the ninth close above 25,000 in nine days.

Just one of eleven sectors was higher on Monday, led by real estate XLRE +0.21% and utilities XLU -0.05%.

SPY down 5.19 at 272.57 on 99.3 million shares, 18% below average volume. Down on higher volume.

VIX up 3.09 at 20.45 

Oil down 1.01 at 58.86

TLT up .74  at 114.09 on 6.1 million shares. 

VZ +0.44%, KO +0.38%, led the DJIA, 4 advancers, -7.

NKTR +8.73%, FOSL +4.63%and NRG +3.97%, led the SPX.
AAL +1.77%, JD +1.43%, XRAY +1.33%, and WYNN +1.20% led the NDX.

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

Up: 

Down: SPY, IWM, DIA, QQQ,

Breadth weakened on Monday, as decliners led 2,135 to 765 on the NYSE and led 2,373 to 678 on the NASDAQ

The SPY MFC green line is turned down at 52 and is defensive.

Uptrend sectors:   XLU, XLP, XLRE,

Neutral sectors:  XLV, XLY, XLF, XLB,

Down trend sectors: XLK, XLI, XLE, XLC,

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

3-month Intermediate Term Market Trend: Sideways

3-day Short Term Market Trend: Down

9 of 100 NDX stocks closed higher on Monday.

39 NDX stocks are above their 30 DMA.  SBUX, WBA, CDNS, TSLA, PEP, XLNX, ROST, CMCSA, DLTR, ESRX, INTC, QRTEA, SHPG, CHTR, COST, MELI, AAL, BKNG, FOXA, MDLZ, SIRI, ULTA, MNST, PYPL, SYMC, FAST, HOLX, MCHP, MYL, VRSK, WDAY, ADP, CTXS, FISV, HSIC, ORLY, PAYX, SNPS, XRAY,

NDX Stocks to Watch on Tuesday:

Moving Above 30 DMA = 0

Moving Below 30 DMA = 18

ADI, AVGO, CHKP, CSCO, CSX, EXPE, ILMN, INCY, INTU, ISRG, KLAC, LRCX, MSFT, MXIM, NTES, NXPI, TMUS, VRTX,

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