SPX,NDX Closed Sharply Lower as Breadth Weakened...All Sectors Move Lower...

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SPX -95.85, 5,844, opened lower after PANW gapped down on earnings released Tuesday after the close, and trended higher until about 12:45 pm ET before the SPX turned sharply lower.  While reports suggest higher yields among the factors contributing to market weakness on Wednesday, the move lower correlates with reports that the US would keep China chip restrictions.     

The DJI, 41,860 -1.91%, fell with the broad market.  The NDX -1.34% also moved lower. 

Breadth weakened as decliners increased and led advancers on the exchanges and indexes.  Net change declining capital on the SPX and NDX was more than seven times greater than net change advancing capital.

Wednesday Insight: The Keeping Money Questions and profit protection stops are for days like Wednesday.   

TSLA -9.20, -2.68%, opened slightly higher, reversed and closed lower.

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

SPY down 9.99 at 582.86, 94.1 million shares, above average volume

VIX up 2.78 at 20.87,

QQQ down 7.23 at 513.04

KO led the DJIA, 1 advancers, -9

GOOGL, CME, CBOE, MSI led the SPX, 17 advancers,

GOOGL, MELI, CCEP, NFLX led the NDX, 6 advancers,

Up:

Down: QQQ, SPY, DIA, IWM,

The SPY MFC green line turned down at 96.8 and is counter-trend defensive. -2.2

All eleven sectors were lower on Wednesday, down the least were XLC, XLP and XLB. 

Uptrend sectors: XLI, XLU,

Neutral sectors: XLK, XLP, XLRE, XLF, XLC, XLY, XLE, XLB,

Down trend sectors: XLV,

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

3-month Intermediate Term Market Trend:  Sideways

3-day Short Term Market Trend:  Down

6 of 100 NDX stocks closed higher on Wednesday.

83 NDX stocks are above their 30 DMA: CPRT, COST, CRWD, CTAS, MNST, PLTR, ROST, EA, MSTR, MELI, NFLX, ADSK, AXON, BKNG, CDNS, IDXX, TTWO, CEG, INTU, ZS, ABNB, ADI, AMAT, ANSS, ARM, AVGO, DDOG, DXCM, ISRG, KLAC, LRCX, MAR, MCHP, MDB, MSFT, SNPS, TSLA, TTD, WDAY, CHTR, PYPL, CDW, ADBE, HON, NVDA, PAYX, VRSK, ADP, AMD, CTSH, GFS, AMZN, APP, ASML, CSCO, META, MU, NXPI, PDD, ROP, ON, CSX, GEHC, LULU, QCOM, TXN, INTC, MRVL, ODFL, WBD, DASH, FANG, BIIB, CMCSA, FAST, FTNT, GOOGL, PCAR, LIN, REGN, AZN, CCEP, GILD,

NDX Stocks to Watch on Thursday:

Moving Above 30 DMA = 0

Moving Below 30 DMA = 7

AAPL, BKR, ORLY, PANW, SBUX, TEAM, XEL,

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