QQQ, IWM Rebound From Lower Open as Broad Selloff in SPX, DJI Continued...

 

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Indexes opened lower followed by a bounce in QQQ and IWM while DIA, SPY moved lower after the open.   Many NDX 100 stocks bounced from a lower open and finished higher for the day, however breadth was negative in SPX and DJI.
 

DJI -473.66, -1.36%, closed at 34,269.  HD, UNH, GS and TRV were the largest point decliners on Tuesday.
NDX -7.81, -0.06%, closed at 13,351.
SPX -36.33, -0.87%, closed at 4,152.                 
 
TSLA 1.88%, bounce at six-week support.
 
SPY = at channel support.
DIA = BO test, bull flag setup.
QQQ = re-breakout.
IWM = channel bounce at short-term support.
 
One of eleven sectors was higher on Tuesday, led by XLB, XLC and XLK.
 
Materials leaders: FCX, EMN, APD, WRK
Communication Services leaders: GCI, ATVI, TWTR, NFLX
Technology leaders: NLOK, NOW, ENPH, PYPL
 
SPY down 3.73 at 414.21, on 116.8 million shares, above average volume, down on higher volume. 
VIX up 2.86 at 21.84
 
CRM, NKE, AMGN, V led the DJIA, 2 advancers, -12
NLOK, GCI, FCX, NOW led the SPX, 88 advancers.
SPLK, ZM, PTON, TEAM led the NDX, 49 advancers. 
 
The two-year trend term is up.  The one-year trend is up.
 
Up:
Down: QQQ, IWM, SPY, DIA
 
Advancers were mixed on Tuesday as decliners led 2,492 to 890 on the NYSE and led 2,625 to 1,668 on the NASDAQ.
 
The SPY MFC green line turned down at 87.3 and is counter-trend defensive.  SPY is a re-BO setup. 
 
 
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
 
49 of 100 NDX stocks closed higher on Tuesday.
 
35 NDX stocks are above their 30 DMA:   ORLY, AEP, XEL, FAST, CSX, COST, CERN, ROST, VRSN, GOOGL, ISRG, CPRT, CHKP, ALXN, IDXX, MRNA, CHTR, MDLZ, CMCSA, KHC, PEP, ADP, BIIB, CTAS, GILD, PAYX, WBA, TMUS, AMGN, CSCO, FOXA, PCAR, REGN, ATVI, EA, MTCH,
 
NDX Stocks to Watch on Wednesday:
Moving Above 30 DMA = 3
ATVI, EA, MTCH,
 
 
Moving Below 30 DMA = 4
AEP, EBAY, LULU, SBUX,
 
 
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