All indices and sectors closed lower let by IWM -3.59% and XLRE -4.25%.

Although SPY is still above 30d sma, today it crossed the 10d sma forming a double top in the 294 area. It is expected to continue moving down.to test, at least the 280 area.

Long positions are at risk and it should be time to tight the stops.

                   

SPY Market Forecast 88.8 Short-term defensive Pointing lower           

                                               0.8 PCALL - 10 day SMA             

                                        125.97 SKEW               

                   

INTERMEDIATE TERM: Sideways- Price in between 30 &10 Wk SMA             

  6-months Down                

  10-days Up                

  3-days Up                

                   

Indices                   

  DIA -1.85% ; SPY -1.99% ;  QQQ -2.09% ; IWM -3.59%       

  TLT +1.03% at 164.37              

  VIX +19.84% at 33.04              

                   

Sectors                   

  0 sectors closed higher led by  XLP -0.84%  and  XLU -0.88%    Lower =  11      

  6            closing above 30d. SMA  and 5   closing below.

                   

Uptrend XLV, XLB, XLE, XLC, XLK, XLY, XLI               

Sideways XLP, XLU, XLF, XLRE                

Downtrend                  

                   

                   

Breath:                   

 Weakened  as  Decliners led  678   to   2261 and  Nasdaq   Weakened  as  Decliners led 936   to   2372   

                   

                   

NDX Leaders:                    

6 closing higher  and  97 closing Lower             

NTES : +1.27% ;  JD : +0.66% ;  WLTW : +0.40%         

                   

DJIA Leaders:                    

1 closing higher  and  29 closing Lower             

WMT : +0.09% ;  CSCO : -0.23% ;  DOW : -0.32%         

                   

SP500 Leaders:                    

41 closing higher  and  461 closing Lower             

OKE : +4.97% ;  MRO : +3.65% ;  AMCR : +3.17%         

                   

NASDAQ 100                  

                   

Nasdaq Above 30MA    =  85                

NTES, JD, WLTW, ILMN, ALXN, KHC, CSCO, TSLA, EBAY, MNST, BMRN, TTWO, EA, MXIM, PEP, AAPL, ORLY, LBTYA, EXC, FOXA, LULU, FISV, FB, VRSN, ADI, ADBE, LBTYK, CHTR, COST, ADSK, SNPS, KLAC, GOOG, NFLX, ADP, SBUX, GOOGL, TCOM, PYPL, SWKS, INTU, AMZN, TMUS, NTAP, MSFT, AMGN, FAST, CDNS, LRCX, MELI, BIIB, AVGO, ASML, VRSK, QCOM, INCY, MCHP, CSX, CHKP, TXN, REGN, PCAR, INTC, ISRG, VRTX, AMAT, NLOK, NVDA, JBHT, IDXX, AMD, ALGN, EXPE, CTAS, SIRI, WDAY, NXPI, CTSH, MYL, ATVI, HSIC, CTXS, WYNN, MU, ULTA

                   

Stocks to watch on  Wednesday                

Nasdaq100  xsing above30   = 0                

                   

                   

Nasdaq100  xsing below30  = 9                

BKNG, DLTR, XLNX, CERN, WDC, PAYX, GILD, MAR, ROST               

                   

                   

MACD Crossover:                 

Up   0                

                   

                   

Down   14                

EBAY, FISV, SNPS, ADP, TCOM, AVGO, MCHP, CHKP, REGN, WDC, NXPI, MYL, HSIC, ULTA