Hard selloff in all indices giving back previous 2 day gains. SPY Market Forecast continues in the upper zone and it is defensive.

 Futures to Watch - Daily Setups                   
/CL[K22]   $100.44 ( -2.84 / -2.75% ) ; Setup:   Channel            
/GC[M22]   $1,923.50 ( -10.5 / -0.54% ) ; Setup:   Channel            
/ES[M22]   $4,523.75 ( -54 / -1.18% ) ; Setup:   Channel           
/NQ[M22]   $14,845.75 ( -318.5 / -2.10% ) ; Setup:   Channel           
                     
                     
                     
SPY Market Forecast   84.77 Defensive pointing down in the upper zone              
   0.68   PCALL - 10 day SMA (0.75 - 1.00)              
                     
SPY INTERMEDIATE TERM:  Uptrend- Price above 30 &10 Wk SMA                
  6-months UP                  
  10-days UP                  
  3-days SIDEWAYS                  
                     
Indices                     
UP:                        
Down:     DIA -0.81% ; SPY -1.24% ; QQQ -2.22% ; IWM -2.31%         
                     
  TLT -2.26% at 128.49                
  VIX +13.25% at 21.03                
                     
SPY   : Reversal back to channel   above 30ds SMA              
QQQ   : Reversal back to channel   above 30ds SMA              
DIA   : Reversal back to channel   above 30ds SMA              
IWM   : Inside the Channel   above 30ds SMA              
                     
                     
Sectors                     
  4 sectors closed higher led by  XLU +0.63%  and  XLV +0.21%    Lower =  7        
  9            closing above 30d. SMA  and 2   closing below.  
                     
XLU leaders     :    SO, ETR, WEC, ES                
XLV leaders     :    ZBH, HOLX, OGN                
XLP leaders     :    SJM, MKC, CL, HRL                
                     
Uptrend  XLU, XLV, XLB, XLI, XLE                  
Sideways  XLP, XLRE, XLF, XLC, XLK, XLY                 
Downtrend                     
                     
                     
Breath:                     
NYSE Weakened  as  Decliners led  646   to   2722 and  Nasdaq   Weakened   as  Decliners led 1190   to   3558     
                     
                     
NDX Leaders:                       
15 closing higher  and  87 closing Lower               
ADP : +1.20% ;  VRSK : +1.11% ;  CEG : +1.06%           
                     
DJIA Leaders:                       
8 closing higher  and  22 closing Lower               
UNH : +1.52% ;  MCD : +0.68% ;  JNJ : +0.65%           
                     
SP500 Leaders:                       
144 closing higher  and  356 closing Lower               
VIAC : N/A ;  ZBH : +2.60% ;  CCL : +2.43%           
                     
NASDAQ 100                     
                     
Nasdaq Above 30MA    =   77                  
ADP, VRSK, CEG, EXC, AEP, SGEN, AZN, ORLY, XEL, CTAS, VRTX, FISV, PEP, COST, ROST, PAYX, MDLZ, AMGN, MAR, ATVI, ILMN, TMUS, CMCSA, IDXX, EBAY, DLTR, KHC, MNST, FB, CPRT, REGN, SIRI, DXCM, PANW, HON, ANSS, MSFT, WDAY, LULU, FAST, FTNT, VRSN, GILD, GOOGL, GOOG, ZM, AAPL, INTU, BIIB, NTES, ISRG, INTC, ADBE, CDNS, AMZN, ADI, NFLX, TXN, BKNG, AVGO, ABNB, ADSK, PYPL, SNPS, MELI, CRWD, DOCU, SPLK, TSLA, MTCH, PDD, NVDA, ZS, TEAM, BIDU, MRNA, DDOG
                     
Stocks to watch on    Wednesday                  
                     
 Nasdaq100  xsing above30   = 0                 
                     
                     
 Nasdaq100  xsing below30  = 12                 
  EA, CSCO, CTSH, KDP, JD, SWKS, ASML, MCHP, KLAC, LCID, LRCX, MRVL              
                     
                     
MACD Crossover:                     
Up   0                  
                     
                     
Down   17                  
IDXX, EBAY, CHTR, PANW, GOOGL, CSCO, BIIB, ADI, AVGO, KDP, MELI, MU, CRWD, SPLK, SBUX, QCOM, KLAC