© 2021
Futures
dropped before the open after the CPI report
at 8:30 am ET came in
higher than expected. After the CPI report, stocks were on the downside
all day.
DJI -681.50, -1.99%, closed at 33,587. HD, HON, BA and MSFT were the
largest point decliners on Wednesday.
NDX -349.64, -2.62%, closed at 13,001.
SPX -89.06, -2.14%, closed
at 4,063.
TSLA 4.42%, pullback to six-week support.
SPY = broke
support.
DIA = broke
support.
QQQ = moving
down towards support in a sideways channel.
IWM = broke
short-term support in a channel.
One of
eleven
sectors was higher on Wednesday, led by XLE,
XLV and XLF.
Energy leaders: VLO, SWN, SLB, OXY
Health Care leaders: VTRS,
PRGO, CNC, INCY
Financial leaders: CME, AIZ
SPY down 8.80 at 405.41, on 134.8 million shares, above average volume, down on higher volume.
VIX up 5.75 at 27.59
MRK, CVX, VZ, JNJ led the DJIA, 2 advancers, -0
NLOK, VTRS, PRGO, VLO led the SPX, 36 advancers.
SGEN, INCY, INTU, REGN led the NDX, 6 advancers.
The two-year trend term is up. The one-year trend is up.
Up:
Down: DIA, SPY, QQQ, IWM,
Advancers weakened on Wednesday as decliners led 2,900 to 473 on the NYSE and led 3,423 to 886 on the NASDAQ.
The SPY MFC green line
crossed below 80, is pointed down at 78.3 and is defensive. SPY
is a break of support entry.
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: Down
6 of 100 NDX stocks
closed higher on Wednesday.
20 NDX stocks are above their 30 DMA: ORLY, AEP, XEL, FAST, COST, CERN, VRSN, CHKP,
ALXN, CHTR, MDLZ, CMCSA, KHC, PEP, BIIB, GILD, TMUS, AMGN, FOXA, REGN, SGEN,
NDX Stocks to Watch on Thursday:
Moving Above 30 DMA = 1
SGEN,
Moving Below 30 DMA = 16
ADP, ATVI, CPRT, CSCO, CSX,
CTAS, EA, GOOGL, IDXX, ISRG, MRNA, MTCH, PAYX, PCAR, ROST, WBA,
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