/ES opened -55 points lower this morning and continued lower until it broke one-year support. SPY also broke one-year support at 404. SPY, QQQ and IWM, each made a 52-week low today. All four index ETFs and all 11 sectors closed lower.
CPI report Wednesday BMO.
SPY down 13.17 at 398.17, on 155.5 million shares, above average volume, down on higher
volume.
VIX up 4.56 at 34.75
QQQ down 12.10 at 297.15
The two-year trend term is up. The one-year trend broke support today.
The two-year trend term is up. The one-year trend broke support today.
Up:
Down: DIA, SPY, QQQ, IWM,
All eleven sectors were lower on Monday. Weakest sectors were XLE, XLRE, XLY and XLK.
Advancers weakened on Monday as decliners led 3,039 to 407 on the NYSE and led 4,156 to 784 on the NASDAQ.
The SPY MFC green line is turned down at 18.2 and is short-term
bearish. SPY broke
one-week and one-year support and formed a red candle. Be prepared for a breakout test.
Uptrend sectors: XLE, XLU, XLP,
Neutral sectors: 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
14 of 100 NDX stocks closed higher on Monday.
6 NDX stocks are above their 30
DMA: KHC, MDLZ, GILD, PCAR, PEP, XEL,
NDX Stocks to Watch on Tuesday:
Moving Above 30 DMA = 4
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