SPX Gaps Down, Falls 4%+ in Broad Selloff after CPI Miss is Higher than Expected...All Sectors Move Lower...VIX Jumps...

© 2022

The SPX -177.72 gapped lower, trended lower all day in broad selloff after the August CPI missed with  M/M +0.1 vs -0.1% consensus and Y/Y 8.3% vs 8.1% consensus.

DXY, TLT and TNX closed higher, while /CL and GLD moved lower.

SPY down 17.87 at 393.10, on 122.92 million shares, above average volume, down on higher volume.

VIX up 3.40 at 27.27

QQQ down 17.04 at 293.70

TRV, CVX led the DJIA, 0 advancers, -27

CTVA, TWTR, ALB, MOS led the SPX, 4 advancers

NTES, REGN, SBUX led the NDX 0 advancers

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

Up:

Down:  IWM, DIA, SPY, QQQ,

All eleven sectors were lower on Tuesday, the least weak were XLE, XLU and XLV.

Advancers weakened significantly on Tuesday as decliners led 2,892 to 376 on the NYSE and led 3,689 to 938 on the NASDAQ.

The SPY MFC green line turned up at 30.8 and is short-term bullish.  SPY gapped lower and closed lower after worse than expected CPI report.

Uptrend sectors:   XLY, XLU, XLI, XLP, XLRE, XLF, XLV, XLK,

Neutral sectors:   XLE, XLC, XLB,

Down trend sectors:

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

3-month Intermediate Term Market Trend: Up a little

3-day Short Term Market Trend: Down

0 of 100 NDX stocks closed higher on Tuesday

10 NDX stocks are above their 30 DMA:   ROST, PANW, PDD, GILD, LULU, ABNB, DXCM, SBUX, REGN, ZS,

NDX Stocks to Watch on Wednesday:

Moving Above 30 DMA = 0

Moving Below 30 DMA = 31

AEP, AMZN, BIDU, BIIB, BKNG, COST, CRWD, CSCO, CTAS, DOCU, EA, EXC, FISV, FTNT, IDXX, ILMN, JD, MAR, MELI, META, MNST, MTCH, NFLX, ORLY, PYPL, TEAM, TMUS, TSLA, VRTX, WDAY, XEL,

Add Comments here: