SPX Opens Lower, Closes Lower as Breadth Weakens...All Sectors Lower...

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-SPX -81.75 gapped down, broke ST support and closed 2% lower.

-VIX closed 2.85 higher.

-SPY MFC GL closed below 80, shifting to defensive.

-Market, sector and stock breadth weakened on Tuesday.

-HD -22.45, -7.06% a negative EPS reaction…

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

Mega caps TSLA, NVDA, GOOGL, AMZN, AAPL MSFT, META, fell.

iBB:  In our model account we maintain a net long position.  We closed multiple intermediate-term positions, adjusted LCVs and entered new defensive positions.

SPY down 8.17 at 399.09, on 82.6 million shares, average volume, down on lower volume.

VIX up 2.85  at 22.87

QQQ down 7.13 at 294.03

WMT led the DJIA, 1 advancers, -16

GIS, OGN, TAP, FAX led the SPX, 36 advancers

CPRT, AZN, PYP, EA led the NDX, 4 advancers.

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

Up:

Down:  SPY, DIA, QQQ, IWM,

All eleven sectors were lower on Tuesday.

The SPY MFC green line pointed down at 74.5 and is defensive.  SPY opened lower and closed lower.

Uptrend sectors:   XLY, XLK, XLC, XLF, XLI, XLRE, XLB,

Neutral sectors:  XLE, XLP, XLU, XLV,

Down trend sectors:

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

3-month Intermediate Term Market Trend: Sideways

3-day Short Term Market Trend: Down

4 of 100 NDX stocks closed higher on Tuesday.

46 NDX stock are above their 30 DMA:   ALGN, BKNG, META, SGEN, WBD, ODFL, ANSS, CDNS, ADSK, ISRG, NXPI, ABNB, FISV, LCID, MAR, NVDA, TEAM, CPRT, AAPL, COST, CPRT, FAST, MCHP, MSFT, PANW, WDAY, ZS, ADI, FTNT, GFS, PCAR, TSLA, DDOG, CRWD, RIVN, LULU, ORLY, AZN, DXCM, KDP, PEP, ATVI, LULU, TMUS, CSCO, EXC, MDLZ, REGN,

NDX Stocks to Watch on Wednesday:

Moving Above 30 DMA = 0

Moving Below 30 DMA = 16

AMAT, AMD, AVGO, CHTR, CTAS, CTSH, EBAY, IDXX, ILMN, LRCX, MNST, MRVL, OKTA, SBUX, WBA, ZM,

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