SPX 165 point Selloff after 80 point Rally on Tuesday...All Sectors and Dow Stocks Mover Lower...TGT Gaps Down on Earning's Miss...

 
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The SPX fell -165 points Wednesday, the day after an 80-point rally following Fed Chair Powell’s interview with the “WSJ Future of Everything Festival” Tuesday afternoon.  Wednesday’s selloff was triggered after an earning’s miss by TGT which fell -24.93%.  All sectors moved significantly lower, all 30 Dow were down, only two NDX stocks and eight SPX stocks move higher.

SPY down 16.46 at 391.86, on 117.6 million shares, above average volume, down on higher volume.

VIX up 4.86 at 30.96
QQQ down 15.03 at 291.14

VZ, AMGN, MRK led the DJIA, 0 advancers, -24

TJX, AIZ, NRG, PGR led the SPX, 8 advancers

EA, GILD led the NDX, 2 advancers

The two-year trend term is up.  The one-year trend down a little.

Up: 

Down:  IWM, DIA, SPY, QQQ,

All eleven sectors fell between -0.97% to -6.54% on Wednesday, with XLK, XLP and XLY the weakest.

Advancers weakened on Wednesday as decliners led 2,775 to 547 on the NYSE and led 3,713 led to 972on the NASDAQ.

The SPY MFC green line is pointed up at 18.7 and is short-term bullish.  SPY reversed Tuesday’s rally and the SPX dropped 165 points after rising 80 points on Tuesday.

Uptrend sectors:  XLE, XLU,

Neutral sectors:  XLP, XLV, XLB,

Down trend sectors: XLRE, XLY, XLI, XLK, XLF, XLC,

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

3-month Intermediate Term Market Trend: Down

3-day Short Term Market Trend: Down

2 of 100 NDX stocks closed higher on Wednesday.

14 NDX stocks are above their 30 DMA:   MNST, GILD, HON, AMD, EA, LRCX, NTES, NXPI, XEL, AMGN, SGEN, ADI, KLAC, MU,

NDX Stocks to Watch on Thursday:

Moving Above 30 DMA = 0

Moving Below 30 DMA = 15

ADSK, AEP, AMAT, ATVI, AVGO, BIDU, KHC, MCHP, MDLZ, PCAR, PDD, PEP, QCOM, TXN, WBA,

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