DJI, SPX, NDX, RUT Closed Lower...Oil Rose, Breadth Weakened on Weakness in Technology Stocks and Mega Caps...Cyber Software Rose on Strength in PANW, CRWD, FTNT...

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Our iBullyBear Mentoring account paused today and closed with its second highest Net Liq on strength in CRWD, META, PLTR and several other gainers on Wednesday.  If you are not employing a systematic approach to decision-making in the face of uncertainty and you want to improve your skills contact us through the iBullyBear link above.

Stay Focused on the trend.  Don’t be distracted by price fluctuations or subjective opinions.

SPX -58.61, 7,706 a pullback day that stayed above Monday’s S1 level. Breadth weakened as decliners led on both the NYSE and the NASDAQ exchanges.  A rise in oil prices along with a pullback in technology stocks and mega-caps contributed to the pullback in the broad market.

RUT 2,838 fell -51.25. Oil /CL rose +2.86 and closed at 92.71.  

SPX advancers: PANW CRWD VEEV PLTR APA IR ILMN NOW ZBRA FTNT DVN.

SPX decliners: PAYX EXPE ABNB TPL BKNG MCD FSLR BBY APP UAL GEN.

SPY -5.57, -0.72%, above average volume of 54.8 million shares, pullback day. 

VIX +0.97, 15.18 rose.

NDX -0.84% pulled back from horizontal resistance at its June high.

DJI, 51,511 -0.68%, a red candle pullback day.

Up:

Down: DIA, SPY, QQQ, IWM,

Mega caps META, BRK/B, MSFT, TSLA rose, and AAPL, TSM, NVDA, AMD, LLY, MU, AMZN, AVGO, GOOGL fell on Wednesday.  AMD remained above a $1T market cap for a third day.

SPCX closed at 151.85, -6.36, volume of 60.3 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 up at 61.1, price-action on Tuesday is a pullback day and is short-term bullish. +9.3

One of eleven sectors was higher on Wednesday. 

40 of 100 NDX stocks closed higher on Wednesday.

47 NDX stocks are above their 30 DMA: GILD, SPCX, MSTR, TSLA, QCOM, AAPL, META, AMD, INTC, AZN, CRWD, FTNT, PANW, ISRG, LITE, MRVL, PLTR, MU, NXPI, SNDK, ADI, ALAB, NBIS, NVDA, STX, TER, TXN, ALNY, APP, DDOG, MPWR, MSFT, RKLB, WBD, ASML, MAR, MDB, KLAC, LRCX, MCHP, SNPS, WDC,

NDX Stocks to Watch on Thursday

Moving Above 30 DMA = 5

AMAT, CDNS, FAST, KDP, ROST,     

Moving Below 30 DMA = 2

DXCM, GOOGL,

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