Flat Open, Trading Range, Afternoon Selloff, Lower Close...

 
© 2021
 
 
The SPX opened flat and traded in a range until mid-afternoon, when it broke support and finished lower for the second straight day. 
 
 
DJI –267.13, -0.78%, closed at 34,060.  CAT, GS, HON and CVX were the largest point decliners on Tuesday.
NDX -95.23, -0.72%, closed at 13,217.
SPX -35.46, -0.85%, closed at 4,127.                 
 
TSLA +0.18%, small rally at six-week support.
 
SPY = channel bounce pause.
DIA = channel bounce pause.
QQQ = channel bounce pause.
IWM = channel bounce pause.
 
Two of eleven sectors were higher on Tuesday, led by XLRE, XLV and XLU.
 
Real Estate leaders: BXP, DLR, SBAC, ESS
Health Care leaders: CVS, ABMD, CERN, ILMN
Utilities leaders: LNT, EXC, ATO, AEE
 
SPY down 3.58 at 416.58, on 59.8 million shares, below average volume, down on lower volume. 
VIX up 1.62 at 21.34
 
WMT, UNH, MCD, JNJ led the DJIA, 4 advancers, -9
CVS, VIAC, ENPH, LYV led the SPX, 202 advancers.
PDD, NTES, PTON, JD led the NDX, 31 advancers. 
 
The two-year trend term is up.  The one-year trend is up.
 
Up:
Down: QQQ, DIA, IWM, SPY,
 
Advancers weakened on Tuesday as decliners led 1,798 to 1,523 on the NYSE and advancers led 2,155 to 2,080 on the NASDAQ.
 
The SPY MFC green line is pointed down at 55 and is defensive.  SPY is a channel bounce pause. 
 
 
Uptrend sectors:  XLB, XLF, XLI, XLP, XLV, XLE, XLRE, XLC, XLY, XLU, XLK,
Neutral sectors: 
Down trend sectors:
 
The 6-month intermediate trend is up.  The ten-day trend is sideways.
 
3-month Intermediate Term Market Trend: Up
3-day Short Term Market Trend: Up a little
 
31 of 100 NDX stocks closed higher on Tuesday.
 
27 NDX stocks are above their 30 DMA:   ORLY, XEL, FAST, COST, CERN, VRSN, ALXN, CHTR, MDLZ, KHC, PEP, BIIB, GILD, TMUS, AMGN, REGN, SGEN, ADP, CSCO, PAYX, WBA, EXC, INTU, WDC, EBAY, TCOM, NTES,
 
NDX Stocks to Watch on Wednesday:
Moving Above 30 DMA = 1
NTES,  
 
Moving Below 30 DMA = 9
CMCSA, CPRT, CSX, CTAS, FB, PCAR, GOOGL, ROST, VRTX,
 
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