SPX, NDX Close Lower as Breadth Weakens, Mega Caps Fall...Energy, Health Care, Financial Lead Sectors...

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SPX -60.46, 5,614, opened lower after Housing Starts and Permits were better than expected and better than January’s report.  SPX pulled back in the morning and traded in a sideways channel during the afternoon closing above its low of the day.

Breadth weakened as index ETFs declined and VIX rose. Mega caps were weaker, decliners led advancers on both exchanges and the broad indexes.  Net change declining capital was significantly higher than advancing capital.

The DJI, 41,581 -0.62%, opened lower and trended down.  NDX -1.66% pulled back after a two-day rally and lagged the other index ETFs due to mega cap weakness.

INTC +.23, +0.90%, rose again after naming Lip-Bu Tan as the new CEO last Thursday.

Mega caps BRK/B rose and AAPL, MSFT, TSM, AMZN, GOOGL, AVGO, NVDA, META, TSLA fell on Tuesday. 

SPY down 6.13 at 561.02, 66.0 million shares, above average volume

VIX up 1.19 at 21.70

QQQ down 8.23 at 474.54

VZ, CVX, UNH, JNJ led the DJIA, 8 advancers, -19

DFS, VTRS, MOS, CTRA led the SPX, 164 advancers,

FANG, MNST, CCEP, INTC led the NDX, 18 advancers

Up:  

Down: DIA, IWM, SPY, QQQ,

The SPY MFC green line turned up to 16 and is short-term bullish. +2.3.

Two of eleven sectors were higher on Tuesday, led by XLE, XLV and XLF. 

Uptrend sectors: XLC, XLF,

Neutral sectors: XLV, XLP, XLY, XLI, XLU, XLRE, XLE,

Down trend sectors: XLK, XLB,

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

3-month Intermediate Term Market Trend:  Down

3-day Short Term Market Trend:  Up

18 of 100 NDX stocks closed higher on Tuesday.

28 NDX stocks are above their 30 DMA: CDW, ISRG, AEP, EXC, AMGN, AZN, GILD, VRTX, MDLZ, MNST, EA, KDP, PDD, MU, INTC, CMCSA, CSGP, FAST, INTU, KHC, ORLY, XEL, ASML, BIIB, CCEP, LIN, TMUS, FANG,

NDX Stocks to Watch on Wednesday:

Moving Above 30 DMA = 1

FANG,

Moving Below 30 DMA = 4

MELI, PEP, TTWO, ZS,

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