US Stock Market Sector Analysis – Thursday, August 22, 2024 BEARISH

A tech-led pullback set the tone for the US stock market today after mixed macro headlines and weaker guidance rippled through high-growth names. The Magnificent 7 group slipped 2.3% as a cohort, led lower by NVIDIA (NVDA) at $123.54 (-3.7%) and Tesla (TSLA) at $210.66 (-5.6%), dragging the broader S&P 500 into a cautious session. Chip Supply Chain names underperformed, with AMD off 3.9% to $151.70 and Intel (INTC) down 6.1% to $20.10, while defensive areas such as Healthcare outperformed modestly. Sector analysis showed only five sectors up and 14 down, highlighting selective buying rather than a broad market advance.

Market Condition Dashboard

US 10-Year Treasury Yield

Neutral

3.86%

stable

Impact

Confidence

Crude Oil (WTI)

Neutral

$73.01

+1.5% 1D

Impact

Confidence

VIX (Fear Index)

Normal Range

17.6

+7.9% 1D

Impact

Confidence

Put/Call Ratio (5D)

Caution

0.75

Call-Heavy · stable

Impact

Confidence

Signal analysis only — not investment advice

Sector Performance (Base=100)

AI and Technology Sector Analysis

AI-related positioning cooled as the Mag 7 and adjacent hardware suppliers gave back recent gains, with NVIDIA (NVDA) settling at $123.54 after a 3.7% drop while Microsoft (MSFT) traded at $409.86, down 2.0%. The chip supply chain divergence — AMD at $151.70 and Applied Materials (AMAT) at $197.26 — suggests investors are reassessing near-term capacity and order visibility even as data center REITs hold modest gains. Infrastructure spending and enterprise software remain strategic anchors for AI deployment: Alphabet (GOOG) at $164.23 and CrowdStrike (CRWD) (not in top movers) are where we expect more constructive signals if spending resumes.

US Stock Sector Overview

Sector	1D	5D	20D	vs 50MA
Mag 7 (AI Spenders)	-2.3%	-0.5%	+2.2%	BELOW
Chip Supply Chain	-3.3%	-1.6%	-4.6%	ABOVE
Infrastructure	-1.6%	-1.4%	-3.9%	BELOW
Enterprise Software	-1.6%	-0.6%	+4.5%	ABOVE
Finance	+0.6%	-0.0%	+0.9%	ABOVE
Healthcare	+0.2%	+1.8%	+10.2%	ABOVE
Retail	+0.0%	+1.9%	+8.0%	ABOVE
IT Services	-0.8%	+1.1%	+1.9%	ABOVE
Airlines	-0.7%	-0.8%	-10.6%	BELOW
Hospitality & Travel	+0.3%	+2.9%	-1.6%	BELOW
Food & Restaurant	-0.3%	+0.7%	+20.2%	ABOVE
Logistics	+0.1%	+1.1%	-1.1%	BELOW
Industrial	-0.4%	+0.3%	-1.5%	BELOW
Cybersecurity	-2.1%	+3.0%	+6.8%	ABOVE
Chip Equipment	-4.1%	-2.9%	-2.4%	BELOW
Data Center REITs	+0.4%	+0.0%	+5.0%	BELOW
Utilities	-0.9%	+0.0%	+5.7%	ABOVE
Energy	+0.5%	-1.4%	-4.0%	BELOW
Defense & Aerospace	+0.3%	-0.5%	+3.8%	ABOVE
Telecom	-0.0%	+0.5%	+5.5%	ABOVE
Media & Entertainment	-1.0%	+1.5%	+4.6%	BELOW
Biotech	-0.2%	+1.9%	-1.9%	BELOW
Materials	-0.2%	+0.2%	+3.7%	ABOVE
Analog & Embedded Chips	-2.7%	+0.4%	-3.0%	BELOW

Sector Strength

Finance +0.6% 20d: +0.9%

JPMorgan (JPM) +0.9% (20d: +2.1%), Goldman Sachs (GS) +0.3% (20d: -0.3%)

Energy +0.5% 20d: -4.0%

Exxon Mobil (XOM) +0.8% (20d: -1.4%) [<50MA], Chevron (CVX) +0.3% (20d: -6.6%) [<50MA]

Data Center REITs +0.4% 20d: +5.0%

Digital Realty (DLR) +0.6% (20d: +3.5%) [<50MA], Equinix (EQIX) +0.1% (20d: +6.6%)

Defense & Aerospace +0.3% 20d: +3.8%

RTX Corp (RTX) +0.6% (20d: +4.1%), Lockheed Martin (LMT) +0.6% (20d: +6.1%), General Dynamics (GD) -0.2% (20d: +1.1%)

Hospitality & Travel +0.3% 20d: -1.6%

Booking (BKNG) +0.8% (20d: +1.8%), Marriott (MAR) -0.2% (20d: -5.0%) [<50MA]

Sector Warnings

Chip Equipment -4.1% 20d: -2.4%

Lam Research (LRCX) -4.3% (20d: -6.6%) [<50MA], Applied Materials (AMAT) -4.1% (20d: -2.9%) [<50MA], ASML -3.8% (20d: +2.4%)

Chip Supply Chain -3.3% 20d: -4.6%

Intel (INTC) -6.1% (20d: -35.5%) [<50MA], AMD -3.9% (20d: +8.4%), Marvell (MRVL) -3.8% (20d: +4.5%)

Analog & Embedded Chips -2.7% 20d: -3.0%

Microchip Technology (MCHP) -3.1% (20d: -7.6%) [<50MA], Texas Instruments (TXN) -2.2% (20d: +1.5%)

Mag 7 (AI Spenders) -2.3% 20d: +2.2%

Tesla (TSLA) -5.6% (20d: -4.2%) [<50MA], NVIDIA (NVDA) -3.7% (20d: +9.4%), Amazon (AMZN) -2.2% (20d: -3.5%) [<50MA]

Cybersecurity -2.1% 20d: +6.8%

Palo Alto Networks (PANW) -2.9% (20d: +6.9%), CrowdStrike (CRWD) -2.0% (20d: +4.5%), Zscaler (ZS) -1.3% (20d: +9.1%)

Sector Deep Dive

Chip Supply Chain continued its uneven run, sliding 3.3% on the day as order visibility clouded near-term demand. AMD (AMD) led intra-group weakness at $151.70, down 3.9%, and Intel (INTC) tumbled to $20.10, off 6.1%; both names have shown weaker 20-day performance and sit below their 50-day comparative trend (vs50MA: ABOVE for the group overall, but key names are under pressure). Over the 50-day window the group has seen mixed signals, and today’s move highlights the rotation risk when AI spending headlines fail to accelerate bookings.

Chip Equipment exhibited sharper losses, with Applied Materials (AMAT) down 4.1% to $197.26 and Lam Research (LRCX) down 4.3% to $82.15. The sector average fell 4.1% and is trading below its 50-day comparative level, signaling the 50-day trend is under duress for capital goods tied to wafer fab spend. For S&P 500 and semiconductor-capex watchers, the 50-day context suggests caution on new long exposure until order flow or pickup in equipment bookings reasserts itself.

Mag 7 (AI Spenders) underperformed the market at -2.3% as investors trimmed large-cap growth positions. NVIDIA (NVDA) at $123.54 (-3.7%) and Microsoft (MSFT) at $409.86 (-2.0%) weighed heavily despite NVDA’s positive 20-day momentum (+9.4%). Meta (META) at $528.38 was down only 0.6% and remains above the 50-day comparative level, illustrating dispersion within the Magnificent 7 over the pivotal 50-day window. The group’s pullback compressed breadth within mega-caps and reduced leadership concentration in the S&P 500.

Healthcare and Biotech diverged, with Healthcare up 0.2% and Biotech down 0.2% as sector rotation favored defensive earnings stability. Gilead (GILD) led today's gainers at $71.66 (+1.0%), and the Healthcare sector sits above its 50-day comparative measure on the 50-day view, reinforcing its role as a tactical hedge against tech volatility. Biotech’s slightly negative close masks pockets of strength but the 50-day framing suggests greater idiosyncratic risk versus broader healthcare names.

Market Breadth Analysis

US stock market breadth analysis shows 12 of 24 sectors trading above their 50-day moving average, while 12 are below. An even split above and below the 50-day MA suggests the market lacks directional conviction. Watch for a decisive shift in sector rotation to confirm the next trend.

Interactive Charts

S&P 500 & NASDAQ 100

50-Day Sector Performance

1-Day vs 5-Day Sector Change

Active Alerts

HIGH Airlines down -10.6% over 20 days

Stock-Level Detail

Mag 7 (AI Spenders) Show individual tickers

Ticker	Price	1D	5D	20D	50D	vs 50MA	Down Days
META	$528.38	-0.6%	+0.9%	+14.2%	N/A	ABOVE	1
AAPL	$222.86	-0.8%	-0.7%	+3.1%	N/A	ABOVE	2
GOOG	$164.23	-1.3%	+0.5%	-1.9%	N/A	BELOW	2
MSFT	$409.86	-2.0%	-0.7%	-2.1%	N/A	BELOW	2
AMZN	$176.13	-2.2%	-0.5%	-3.5%	N/A	BELOW	1
NVDA	$123.54	-3.7%	-0.7%	+9.4%	N/A	ABOVE	1
TSLA	$210.66	-5.6%	-2.5%	-4.2%	N/A	BELOW	1

Chip Supply Chain Show individual tickers

Ticker	Price	1D	5D	20D	50D	vs 50MA	Down Days
ARM	$129.72	-1.1%	-0.4%	-12.9%	N/A	BELOW	1
AVGO	$159.34	-2.1%	-2.0%	+7.1%	N/A	ABOVE	3
TSM	$162.27	-2.9%	-4.6%	+2.8%	N/A	ABOVE	3
QCOM	$161.95	-3.0%	-1.8%	-6.1%	N/A	BELOW	1
MRVL	$68.29	-3.8%	-1.0%	+4.5%	N/A	ABOVE	1
AMD	$151.70	-3.9%	+2.1%	+8.4%	N/A	ABOVE	1
INTC	$20.10	-6.1%	-3.7%	-35.5%	N/A	BELOW	1

Infrastructure Show individual tickers

Ticker	Price	1D	5D	20D	50D	vs 50MA	Down Days
CSCO	$47.89	-0.5%	+1.5%	+4.9%	N/A	ABOVE	1
HPE	$17.87	-0.6%	+0.5%	-5.0%	N/A	BELOW	1
VRT	$76.59	-1.6%	-3.3%	-0.4%	N/A	BELOW	1
DELL	$105.86	-2.4%	-2.1%	-4.0%	N/A	BELOW	1
SMCI	$60.48	-3.0%	-3.8%	-15.1%	N/A	BELOW	1

Enterprise Software Show individual tickers

Ticker	Price	1D	5D	20D	50D	vs 50MA	Down Days
CRM	$254.92	-1.0%	-1.6%	-1.6%	N/A	ABOVE	3
ADBE	$557.44	-1.5%	+0.7%	+2.8%	N/A	ABOVE	1
PLTR	$31.92	-1.9%	-0.5%	+17.4%	N/A	ABOVE	1
NOW	$164.19	-2.2%	-0.8%	-0.8%	N/A	ABOVE	1

Finance Show individual tickers

Ticker	Price	1D	5D	20D	50D	vs 50MA	Down Days
JPM	$207.90	+0.9%	+1.2%	+2.1%	N/A	ABOVE	0
GS	$477.90	+0.3%	-1.3%	-0.3%	N/A	ABOVE	0

Healthcare Show individual tickers

Ticker	Price	1D	5D	20D	50D	vs 50MA	Down Days
LLY	$942.34	+0.2%	+3.5%	+18.8%	N/A	ABOVE	0
UNH	$553.18	+0.1%	+0.2%	+1.6%	N/A	ABOVE	0

Retail Show individual tickers

Ticker	Price	1D	5D	20D	50D	vs 50MA	Down Days
WMT	$74.40	+0.5%	+2.9%	+8.6%	N/A	ABOVE	0
COST	$869.40	-0.4%	+0.8%	+7.3%	N/A	ABOVE	1

IT Services Show individual tickers

Ticker	Price	1D	5D	20D	50D	vs 50MA	Down Days
IBM	$187.08	-0.6%	+1.1%	+3.1%	N/A	ABOVE	1
ACN	$318.04	-0.9%	+1.1%	+0.6%	N/A	ABOVE	1

Airlines Show individual tickers

Ticker	Price	1D	5D	20D	50D	vs 50MA	Down Days
DAL	$39.24	-0.1%	-0.0%	-8.7%	N/A	BELOW	1
UAL	$41.44	-1.3%	-1.5%	-12.5%	N/A	BELOW	1

Hospitality & Travel Show individual tickers

Ticker	Price	1D	5D	20D	50D	vs 50MA	Down Days
BKNG	$148.31	+0.8%	+4.1%	+1.8%	N/A	ABOVE	0
MAR	$220.59	-0.2%	+1.6%	-5.0%	N/A	BELOW	1

Food & Restaurant Show individual tickers

Ticker	Price	1D	5D	20D	50D	vs 50MA	Down Days
MCD	$275.88	-0.2%	+3.8%	+14.8%	N/A	ABOVE	1
SBUX	$88.39	-0.4%	-2.5%	+25.6%	N/A	ABOVE	2

Logistics Show individual tickers

Ticker	Price	1D	5D	20D	50D	vs 50MA	Down Days
FDX	$227.61	+0.9%	+3.1%	-2.0%	N/A	ABOVE	0
UPS	$113.71	-0.8%	-0.9%	-0.3%	N/A	BELOW	3

Industrial Show individual tickers

Ticker	Price	1D	5D	20D	50D	vs 50MA	Down Days
CAT	$334.64	-0.2%	-0.3%	-2.3%	N/A	ABOVE	3
HON	$190.66	-0.6%	+0.8%	-0.7%	N/A	BELOW	1

Cybersecurity Show individual tickers

Ticker	Price	1D	5D	20D	50D	vs 50MA	Down Days
ZS	$197.78	-1.3%	+2.5%	+9.1%	N/A	ABOVE	1
CRWD	$66.91	-2.0%	+1.9%	+4.5%	N/A	ABOVE	1
PANW	$174.74	-2.9%	+4.6%	+6.9%	N/A	ABOVE	2

Chip Equipment Show individual tickers

Ticker	Price	1D	5D	20D	50D	vs 50MA	Down Days
ASML	$893.90	-3.8%	-1.2%	+2.4%	N/A	ABOVE	1
AMAT	$197.26	-4.1%	-3.5%	-2.9%	N/A	BELOW	1
LRCX	$82.15	-4.3%	-4.1%	-6.6%	N/A	BELOW	1

Data Center REITs Show individual tickers

Ticker	Price	1D	5D	20D	50D	vs 50MA	Down Days
DLR	$142.20	+0.6%	+0.7%	+3.5%	N/A	BELOW	0
EQIX	$788.59	+0.1%	-0.7%	+6.6%	N/A	ABOVE	0

Utilities Show individual tickers

Ticker	Price	1D	5D	20D	50D	vs 50MA	Down Days
DUK	$105.37	-0.5%	-0.2%	+4.8%	N/A	ABOVE	1
NEE	$74.48	-0.9%	+0.4%	+6.3%	N/A	ABOVE	1
SO	$81.61	-1.3%	-0.3%	+6.0%	N/A	ABOVE	1

Energy Show individual tickers

Ticker	Price	1D	5D	20D	50D	vs 50MA	Down Days
XOM	$108.30	+0.8%	-2.9%	-1.4%	N/A	BELOW	0
CVX	$135.29	+0.3%	+0.1%	-6.6%	N/A	BELOW	0

Defense & Aerospace Show individual tickers

Ticker	Price	1D	5D	20D	50D	vs 50MA	Down Days
RTX	$114.39	+0.6%	+0.1%	+4.1%	N/A	ABOVE	0
LMT	$528.46	+0.6%	-0.6%	+6.1%	N/A	ABOVE	0
GD	$282.44	-0.2%	-1.1%	+1.1%	N/A	ABOVE	2

Telecom Show individual tickers

Ticker	Price	1D	5D	20D	50D	vs 50MA	Down Days
TMUS	$190.15	+0.5%	-0.1%	+11.9%	N/A	ABOVE	0
T	$17.80	-0.2%	+0.9%	+2.6%	N/A	ABOVE	1
VZ	$35.85	-0.4%	+0.6%	+1.9%	N/A	ABOVE	1

Media & Entertainment Show individual tickers

Ticker	Price	1D	5D	20D	50D	vs 50MA	Down Days
DIS	$87.87	-0.9%	+0.7%	-0.0%	N/A	BELOW	1
NFLX	$68.90	-1.2%	+2.2%	+9.1%	N/A	ABOVE	2

Biotech Show individual tickers

Ticker	Price	1D	5D	20D	50D	vs 50MA	Down Days
GILD	$71.66	+1.0%	+2.9%	-1.4%	N/A	ABOVE	0
AMGN	$307.34	-1.4%	+1.0%	-2.4%	N/A	BELOW	1

Materials Show individual tickers

Ticker	Price	1D	5D	20D	50D	vs 50MA	Down Days
LIN	$449.93	-0.0%	+1.1%	+2.3%	N/A	ABOVE	1
APD	$260.83	-0.4%	-0.6%	+5.2%	N/A	ABOVE	1

Analog & Embedded Chips Show individual tickers

Ticker	Price	1D	5D	20D	50D	vs 50MA	Down Days
TXN	$193.82	-2.2%	+1.6%	+1.5%	N/A	ABOVE	1
MCHP	$75.98	-3.1%	-0.8%	-7.6%	N/A	BELOW	1

Key Stock Movers

Today's biggest movers by absolute percentage change: Intel (INTC) (Chip Supply Chain) fell 6.1% to $20.10. Tesla (TSLA) (Mag 7 (AI Spenders)) fell 5.6% to $210.66. Lam Research (LRCX) (Chip Equipment) fell 4.3% to $82.15. Applied Materials (AMAT) (Chip Equipment) fell 4.1% to $197.26. AMD (Chip Supply Chain) fell 3.9% to $151.70. These individual stock movements were key drivers of their respective sector performance.

Risk and Opportunity Assessment

On the risk side, 1 high-severity alerts are currently active, signaling significant sector declines that warrant portfolio risk management attention. Consider reducing exposure to affected sectors and tightening stop-loss levels.

US Stock Market Outlook

Near-term market leadership is in flux: 12 sectors sit above their 50MA and 12 below, while active alerts flagged Airlines weakness (20-day down 10.6%) as a confirmable risk. Breadth metrics are tepid and the S&P 500 faces a re-test of recent rotation levels as the Magnificent 7 digest gains; watch alert counts and the number of sectors trading above the 50-day benchmark for directional clues. Positioning guidance: reduce cyclically leveraged exposure to chip-equipment and select supply-chain names, favor quality healthcare and select enterprise software exposure where 50-day trends remain constructive.

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