QQQ and SPY Closing the gap from last Monday 08/05, both below 10d sma. IWM and DIA leading the move down breaking the gap support.

The volatility index (VIX) moved up 17.36%.

Lower highs formed in all four indices; no lower lows formed as of today.

Next couple of days are critical to confirm or disappoint Bulls and Bears.

My preference is still with the bear case, which could confirm within the next couple of days.  With the exception of QQQ, the other three have broken trendline support.

VIX :    21.09  +17.36%                              

/CL :  54.78  0.94%                                

TLT :   142.97  +2.08%                                

                                   

SPY Market Forecast  39.52  Short-term Defensive  and pointing up and in the neutral zone              

    6-months  Up                              

    10-days  Down                              

    3-days  Sideways                              

                                   

Indices                                    

Up        NONE                           

Down    QQQ :   184.35  -1.15%   ; SPY:   288.12  -1.20%  ;  IWM:   148.67  -1.29%  ;  DIA:   259.44  -1.42%          

                                   

Nasdaq Above 30MA   19                              

AMGN ,  INCY ,  BKNG ,  WDC ,  JBHT ,  XEL ,  VRSK ,  CTAS ,  TTWO ,  FISV ,  ADP ,  GOOG ,  CELG ,  GOOGL ,  HAS ,  KLAC ,  SBUX ,  VRTX ,  AMD

                                    

                                    

Stocks to watch on   Tuesday                              

Nasdaq100  xsing above30       1                            

INCY                                    

                                   

Nasdaq100  xsing below30  13                            

TXN ,  MDLZ ,  SIRI ,  MSFT ,  EBAY ,  INTU ,  NXPI ,  MYL ,  ATVI ,  ROST ,  WLTW ,  SYMC ,  MELI            

                                    

NDX Leaders

AMGN  +4.86% ,  LBTYA  +2.04% ,  LBTYK  +1.86%

DJIA Leaders

MRK  +0.22% ,  JNJ  -0.11% ,  VZ  -0.16%                          

SPX Leaders

AMGN  +4.86% ,  SO  +0.62% ,  MRK  +0.22% ,  EXC  0.00%                      

                                   

Sectors

    All 11 sectors closed lower led by      XLRE : 38.44   -0.08%     and  XLU      60.75 -0.20%                                

    XLRE / XLU closing above 30d. SMA      - 9 Sectors closed below.                    

Uptrend:  XLK ,  XLY ,  XLRE ,  XLP                          

Neutral:   XLU ,  XLB ,  XLV ,  XLF ,  XLI ,  XLC                      

Downtrend:  XLE                                

                                   

Breath:     Weakened as decliners led    NYSE:     866   2056    and  decliners led  Nasdaq:   1010    2101            

                                   

NDX - MACD Crossover:  LBTYK ,  INCY ,  IDXX ,  ALGN