DJI, RUT, SPX, NDX, Close Lower...VIX Closed Higher...Breadth Weakened...Technology Sector Led to the Downside...

© 2026

SPX -37.00, 7,619 opened and closed lower, but closed above Thursday’s high.  Breadth weakened as decliners led on both the NYSE and the NASDAQ exchanges.  The VIX rose to 17.10.  RUT 2,892 pulled back to Thursday’s short-term support. Oil /CL rose +1.84 and closed at 101.89.   

The CME FedWatch tool gives a 25 basis point hike, by the FOMC on Wednesday, a 92.4% probability.  After re-looking at the CPI chart and the categories in the release we don’t see the reason in the data.  If the Fed is data dependent, as they have claimed over the past 10+ years, the Fed Funds bond traders seem to be looking at 11 secret herbs and spices in the data.

                        click to enlarge

SPX advancers: CRWD PANW IT COIN FTNT ADSK NOW CTSH TYL FDS GDDY.

SPX decliners: GLW TER COHR HPE SWKS LITE GEV CIEN SMCI LRCX VRT.

SPY -3.41, -0.45%, above average volume of 43.9 million shares, remained > HOLD and short-term support. 

VIX +1.26, 17.10 closed higher.

NDX -0.82% closed lower.

DJI, 52,421 -0.29%, remained > HOLD.

Up:

Down: DIA, IWM, SPY, QQQ,

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

SPCX closed at 148.15, -3.06, on volume of 67.6 million shares. Our view is that SPCX, with no earnings, remains an overvalued speculation.  IPO at 135 on June 12.  In the end if buyers are greater than sellers the stock will rise.  People seem to be willing to speculate on this company’s fundamental future. 

The SPY MFC green line is down at 63.7 price-action on Monday opened lower, bounced, closed above Thursday’s high and is short-term bullish. -5.3

Three of eleven sectors were higher on Monday. 

55 of 100 NDX stocks closed higher on Monday.

29 NDX stocks are above their 30 DMA: WBD, GILD, SPCX, SNDK, KDP, MSTR, TSLA, QCOM, AAPL, ALNY, META, AMD, INTC, FANG, MSFT, TMUS, ADP, APP, AZN, CPRT, CRWD, FTNT, GOOGL, ISRG, NFLX, PANW, PLTR, TRI, WDAY,

NDX Stocks to Watch on Tuesday

Moving Above 30 DMA = 13

ADP, APP, AZN, CPRT, CRWD, FTNT, GOOGL, ISRG, NFLX, PANW, PLTR, TRI, WDAY,

Moving Below 30 DMA = 10

ADI, ARM, CEG, LITE, MRVL, MU, NBIS, NXPI, TER, TXN,

Add Comments here: