Late Selloff SPX Drop 35+ Points, DJI, RUT Go From Up to Down...TSLA Announces Split...

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The SPX fell during the last hour of trading after news that leaders were at a stalemate on a Covid-19 stimulus deal and that Biden would not be having a VP event today.

NDX –209.09, -1.89%, opened lower and closed lower, pulling back for a third day, forming a 3-day bull flag price pattern.

SPX –26.78, -0.83%, opened higher and closed lower, a breakout continuation move that hit 3,381, 12 points below its Feb 3,393 all-time.

TSLA up after announcing a 5 for 1 stock split in after-hours trading.

MRNA rose after signing a $1.5 billion agreement with the U.S. to deliver 100 million doses of coronavirus vaccine.

Two of eleven sectors were higher on Tuesday, led by XLF, XLI and XLB.

Financial leaders:  SIVB, RF, DFS, SCHW

Industrials leaders:  PWR, EMR, SNA, ETN

Basic Materials leaders:  ALB, CTVA, PPG, PKG

SPY down 2.77 at 332.80 on 69.0 million shares, above average volume, down on higher volume.

VIX up 1.90 at 24.03

JPM, AXP, DIS led the DJIA, 14 advancers, -9

FOSL, WYNN, LVS, ALB led the SPX, 223 advancers

EXPE, CDW, QCOM, BKNG led the NDX, 17 advancers

The two-year trend term is up.  The one-year trend is up.

Up:

Down: DIA, IWM, SPY, QQQ,

Breadth weakened on Tuesday as advancers led 1,494 to 1,484 on the NYSE and decliners led 2,063 to 1,331 on the NASDAQ

The SPX MFC green line is turned down at 97 and is short-term bullish and counter-trend defensive.  Price action is a new high pullback.

Uptrend sectors:  XLI, XLP, XLB, XLY, XLK, XLC, XLV,

Neutral sectors:  XLU, XLRE, XLF, XLE,

Down trend sectors:

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

3-month Intermediate Term Market Trend: Up

3-day Short Term Market Trend: Sideways

17 of 100 NDX stock closed higher on Tuesday.

56 NDX stocks are above their 30 DMA:  AMZN, CDNS, IDXX, NVDA, SWKS, AAPL, FAST, MELI, PYPL, MXIM, LRCX, TTWO,  AMGN, VRSK, XLNX, CHKP, COST, MNST, CHTR, CMCSA, CTSH, KHC, PCAR, AMD, CTAS, ISRG, LULU, ORLY, XEL, CPRT, CSX, TCOM, CSCO, SIRI, AMAT, BIIB, QCOM. ROST, SBUX, KLAC, AVGO, FB, MSFT, NXPI, TMUS, DLTR, TXN, BIDU, ALGN, BKNG, ULTA, MAR, PAYX, WBA, CERN, EXPE, CDW,

NDX Stocks to Watch on Wednesday:

Moving Above 30 DMA = 1

CDW,

Moving Below 30 DMA = 9

ADBE, ANSS, ATVI, EA, EXC, INTU, MSFT, NTAP, PEP,

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