SPX Drops 65 points on Above Average Volume, Rallies into the Close, Down 52...

SPX closes at 2,887, down -4.45% from Sep 19th 3,021 high.

The DJIA, closed down 494 points at 26,078 led by weakness in BA, AAPL, HD, V and GS.  Closing below 27,000 for the ninth straight day.

All eleven sectors were lower on Wednesday, led by real estate XLRE -0.62% and utilities XLU -1.33%.

SPY down 5.18 at 288.06 on 124.5 million shares, 76% above average volume.  Down on higher volume.

VIX up 2.00 at 20.56

Oil down 1.51 at 52.47

TLT up .35 at 143.61 on 12.8 million shares.

GLD up 1.63 at 141.26

JNJ +1.55%, UNH -0.21%, led the DJIA, 1 advancer, -3

LEN +3.77%, GCI +1.31% and PSA +0.86% led the SPX.
PAYX +1.78%, CHTR +1.27%, WYNN +1.16% and SIRI +0.81% led the NDX.

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

Up:

Down: IWM, QQQ, SPY, DIA,                        

Breadth weakened on Wednesday as decliners led 2,316 to 637 on the NYSE and led 2,301 to 821 on the NASDAQ

The SPX MFC green line is below 80 and is pointed down at 61 and is short-term defensive.

Uptrend sectors: XLU, XLRE, XLP, XLF, XLI, XLB, XLY, XLK, XLC,

Neutral sectors:  XLV, XLE,

Down trend sectors:

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

3-month Intermediate Term Market Trend: Sideways

3-day Short Term Market Trend: Down

10 of 100 NDX stocks closed higher on Wednesday.

18 NDX stocks are above their 30 DMA:  KLAC, AAPL, ASML, LRCX, DLTR, CTXS, NXPI, TXN, EXPE, MCHP, HAS, ROST, CTAS, TSLA, ALGN, ULTA, PAYX, WYNN,

NDX Stocks to Watch on Thursday:

Moving Above 30 DMA = 2

PAYX, WYNN,

Moving Below 30 DMA = 17

AMAT, CELG, EA, HSIC, ILMN, INTC, ISRG, KHC, LULU, MXIM, NTAP, NVDA, ORLY, PEP, UAL, WBA, XRAY,

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