IWM down, while TLT gaped down and recovered by the end of the day.

There are signs of retracement in the markets SPY, DIA and IWM made a lower high yesterday and continued weakening today. 

Three sectors XLP, XLI, XLRE, and XLF crossed below the 30dma (bearish sign). XLU was already below and moved even lower.

Getting ready to initiate new bearish positions.

                   

                   

SPY Market Forecast 87 Short-term defensive Pointing down           

                   

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

  6-months Down                

  10-days Up                

  3-days Up                

                   

Indices                   

  QQQ +0.62% ; SPY -0.68% ;  IWM -0.73% ; DIA -0.81%       

  TLT -1.61% at 163.41              

  VIX +1.52% at 34.12              

                   

Sectors                   

  1 sectors closed higher led by  XLK +0.78%  and  XLY -0.02%    Lower =  10      

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

                   

Uptrend XLK, XLY, XLC, XLV, XLP                

Sideways XLI, XLB, XLRE, XLE, XLU                

Downtrend XLF                 

                   

                   

Breath:                   

 Weakened  as  Decliners led  902   to   2026 and  Nasdaq   Weakened  as  Decliners led 1311   to   1892   

                   

                   

NDX Leaders:                    

62 closing higher  and  41 closing Lower             

MELI : +19.64% ;  ATVI : +6.33% ;  KLAC : +5.26%         

                   

DJIA Leaders:                    

6 closing higher  and  23 closing Lower             

NKE : +1.42% ;  AAPL : +1.03% ;  MSFT : +0.98%         

                   

SP500 Leaders:                    

123 closing higher  and  378 closing Lower             

FLIR : +9.63% ;  ATVI : +6.33% ;  KLAC : +5.26%         

                   

NASDAQ 100                  

                   

Nasdaq Above 30MA    =  84                

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

                   

Stocks to watch on  Thursday                

Nasdaq100  xsing above30   = 1                

XLNX                   

                   

Nasdaq100  xsing below30  = 5                

BKNG, ALXN, GILD, TMUS, XEL                

                   

                   

MACD Crossover:                 

Up   5                

ATVI, FAST, QCOM, MSFT, IDXX                

                   

Down   2                

CTAS, UAL