SPY short term defensive in a second day down forming a bull flag setup

SPY Market Forecast 94.13 Short-term bearish pointing down in the upper zone             
   0.56   PCALL - 10 day SMA (0.75 - 1.00)               
   134.87   SKEW (120 - 135)                 
                      
INTERMEDIATE TERM: Uptrend- Price above 30 &10 Wk SMA                 
  6-months UP                   
  10-days UP                   
  3-days UP                   
                      
Indices                      
UP:                         
Down:     SPY -0.73% ; QQQ -0.73% ; DIA -0.77% ; IWM -2.05%          
                      
  TLT +0.46% at 139.5                 
  VIX +8.04% at 18.68                 
                      
Sectors                      
  4 sectors closed higher led by  XLU +1.27%  and  XLRE +1.11%    Lower =  7         
  10            closing above 30d. SMA  and 1   closing below.   
                      
XLU leaders     :    WEC, SO, D, AEP                 
XLRE leaders     :    PLD, DLR, AMT, WELL                
XLP leaders     :    PM, KMB, CL, MDLZ                
                      
Uptrend XLU, XLRE, XLP, XLV, XLC, XLK, XLB, XLI, XLY, XLF, XLE                
Sideways                     
Downtrend                     
                      
                      
Breath:                      
NYSE Weakened  as  Decliners led  877   to   2442 and  Nasdaq   Weakened  as  Decliners led 1004   to   3216      
                      
                      
NDX Leaders:                       
32 closing higher  and  71 closing Lower                
INCY : +2.30% ;  CSGP : +1.55% ;  BIIB : +1.54%            
                      
DJIA Leaders:                       
10 closing higher  and  19 closing Lower                
IBM : +3.79% ;  JNJ : +2.33% ;  UNH : +1.72%            
                      
SP500 Leaders:                       
184 closing higher  and  316 closing Lower                
KSU : +15.25% ;  IBM : +3.79% ;  DOV : +3.15%            
                      
NASDAQ 100                     
                      
Nasdaq Above 30MA    =  74                   
INCY, CSGP, BIIB, XEL, CHTR, AMGN, PAYX, VRSN, REGN, MDLZ, EA, CERN, INTU, IDXX, PEP, EXC, GILD, FAST, ALXN, TSLA, COST, SIRI, ORLY, VRTX, KHC, FB, ANSS, ADP, TTWO, ISRG, VRSK, NTES, CHKP, BMRN, MSFT, SNPS, CSX, ADBE, GOOG, CPRT, FISV, GOOGL, MNST, DLTR, CTXS, LBTYA, CDNS, CDW, LBTYK, NFLX, TXN, CTSH, DXCM, TMUS, AMZN, SBUX, NVDA, ALGN, AAPL, PYPL, ADSK, MXIM, LRCX, ATVI, SWKS, DOCU, AMAT, LULU, ROST, CSCO, ASML, MELI, NTAP, EBAY
                      
Stocks to watch on  Wednesday                   
                      
 Nasdaq100  xsing above30   = 1                  
  PAYX                    
                      
 Nasdaq100  xsing below30  = 12                  
  WBA, QCOM, ILMN, ADI, KLAC, WDAY, AMD, XLNX, MCHP, EXPE, ULTA, BKNG              
                      
                      
MACD Crossover:                    
Up   2                   
BIIB, TCOM                     
                      
Down   13                   
EXC, ANSS, FISV, NFLX, TMUS, AMZN, ADSK, PCAR, ROST, AMD, NTAP, EBAY, BKNG