SPX Continues Lower on Volatile Range Trading...Utilities, Industrials Lead Sectors...

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Thursday morning the SPX -33.45 opened lower after the Personal Income & Outlays report BMO, traded in a volatile range and formed a spinning top candle pattern.  TLT rose while DXY, /CL, GLD and TNX moved lower. 

SPY down 3.09 at 377.25, on 112.5 million shares, above average volume, down on higher volume.

VIX up .55 at 28.71

QQQ down 3.52 at 280.28

TRV, PG, HON, IBM led the DJIA, 8 advancers, -6

ENPH, PWR, SEDG, NOC led the SPX, 158 advancers

EXC, COST, VRSK CHTR led the NDX, 22 advancers 

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

Up: 

Down:  DIA, IWM, SPY, QQQ,  

Four of eleven sectors were higher on Thursday, led by XLU, XLI and XLRE.

Utilities leaders:  AES, EXC, AWK, NEE,

Industrials leaders:  PWR, NOC, RTX, LMT

Real Estate leaders:  DLR, 

Advancers strengthened slightly on Thursday as decliners led 2,012 to 1,284 on the NYSE and led 2,825 led to 1,918 on the NASDAQ.

The SPY MFC green line turned down at 38.4 and is short-term bearish.  SPY pulled back for a third day and formed a spinning top candle and is a potential channel bounce setup.

Uptrend sectors:

Neutral sectors:  XLE,

Down trend sectors: XLV, XLP, XLU, XLY, XLB, XLI, XLK, XLF, XLRE, XLC,

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

3-month Intermediate Term Market Trend: Down

3-day Short Term Market Trend: Down

22 of 100 NDX stocks closed higher on Thursday.

24 NDX stocks are above their 30 DMA:   SGEN, ZM, BIDU, PDD, JD, MNST, BIIB, CRWD, VRTX, DLTR, TEAM, TMUS, ATVI, AZN, COST, DXCM, OKTA, ORLY, KDP, KHC, MDLZ, ODFL, PEP, VRSK,

NDX Stocks to Watch on Friday:

Moving Above 30 DMA = 0

Moving Below 30 DMA = 6

AMGN, CDNS, DDOG, GILD, INTU, ZS,

 

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