SPX, NDX, DJIA & RUT Move Below Friday's Low, Counter trend Defensive...

© 2018

SPY, DIA, QQQ and IWM pullback after four-week rally forming one-day bull flag price pattern:

• China reports 6.6% 2018 GDP down from 6.9% a year earlier,
• IMF lowers 2019 global growth forcast.to 3.5% from 3.7%,
• EBAY +6.13%, after report that Elliott Mgt. take $1.4B position,
• SPX moves lower after Financial Times reports that US cancels trade planning meeting with China,
• SPX finds support after Kudlow says story not true about meeting cancellation,
• JNJ and TRV moved slightly lower following earnings Tuesday morning,
• Positive earnings reaction after-hours from IBM +6.59%

The DJIA, closed down 301 points at 24,404, led by weakness in BA, GS, CAT, MMM and AAPL.  

One of eleven sectors was higher on Tuesday, led by utilities XLU +0.19% and real estate XLRE -0.18%.

SPY down 3.60 at 262.86 on 115.4 million shares, 15% below average volume. Down on lower volume.

VIX up 3.00 at 20.80 

Oil down .56 at 52.43

TLT up .81 at 120.37 on 8.8 million shares. 

MCD +1.10%, NKE +0.40%, led the DJIA, 4 advancers, -26

PCG +6.50%, CBOE +2.28% and FITB +2.07%, led the SPX.

EBAY +6.13%, DLTR +1.13%, SBUX +1.07%, and LBTYA +1.04% led the NDX.

Long term up trend intact.  3-day short term trend is up.

Up:

Down: DIA, SPY, IWM, QQQ,

Breadth weakened on Tuesday, as decliners led 2,276 to 668 on the NYSE and led 2,352 to 717 on the NASDAQ

The SPY MFC green line is pointed up at 68 and is short-term bullish.

Uptrend sectors:  

Neutral sectors:  XLU, XLRE, XLB, XLY, XLC, XLV, XLI, XLK, XLP, XLF, XLE,

Down trend sectors:

The 6-month intermediate trend is down.  The ten-day trend is up.

3-month Intermediate Term Market Trend: Down

3-day Short Term Market Trend: Up

10 of 100 NDX stocks closed higher on Tuesday.

81 NDX stocks are above their 30 DMA:  DLTR, REGN, WDAY, XRAY, ROST, LULU, CELG, INCY, NFLX, AMGN, AMZN, BIIB, CDNS, CTRP, EA, EBAY, FB, GILD, INTC, PCAR, PYPL, TMUS, VRTX, WYNN, XLNX, AMD, CTAS, MELI, NTES, TXN, ULTA, VRSN, ADBE, ADSK, BMRN, HAS, INTU, MCHP, TTWO, ADI, AMAT, AVGO, ISRG, KLAC, LRCX, NXPI, SNPS, CTXS, FAST, JBHT, MDLZ, MNST, NVDA, PAYX, SWKS, WLTW, CSX, MYL, ALXN, CTSH, EXPE, GOOGL, IDXX, KHC, MSFT, MXIM, NTAP, ORLY, VRSK, ALGN, AAL, ADP, CHKP, COST, CSCO, FISV, MU, SBUX, ASML, FOXA, LBTYA,

NDX Stocks to Watch on Wednesday:

Moving Above 30 DMA = 0

Moving Below 30 DMA = 13

ATVI, BIDU, BKNG, CERN, CMCSA, HSIC, ILMN, JD, MAR, SIRI, SYMC, UAL, WDC,

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