US Stock Market Sector Analysis – Friday, September 06, 2024 Sectors: BEARISH

Markets sold off broadly today after a wave of tech and chip losses led the S&P 500 lower, with the Mag 7 group down a collective -3.7% and Tesla (TSLA) plunging -8.4% on heavy volume. Chip Supply Chain names and Chip Equipment compounded the rout — Broadcom (AVGO) fell -10.4% and ASML (ASML) slid -5.4% — driving deep weakness across the sector map where 22 of 24 sectors closed lower. Only Airlines registered a gain (+0.8%) while defensive pockets such as Utilities and Healthcare held up modestly. Today's moves reflect risk-off on growth and hardware sensitivity, and they pushed overall breadth well into negative territory for the US stock market and the S&P 500.

Market Condition Dashboard

US 10-Year Treasury Yield

Neutral

3.72%

falling

Impact

Confidence

Crude Oil (WTI)

Neutral

$67.67

-2.1% 1D

Impact

Confidence

VIX (Fear Index)

Elevated Caution

22.4

+12.5% 1D

Impact

Confidence

Put/Call Ratio (5D)

Caution

0.75

Call-Heavy · stable

Impact

Confidence

Signal analysis only — not investment advice

Sector Heatmap (1D)

Airlines +0.82%

Food & Restaurant +0.04%

Telecom -0.32%

Logistics -0.34%

Healthcare -0.43%

Enterprise Software -0.58%

IT Services -0.62%

Biotech -0.62%

Utilities -0.63%

Retail -0.73%

Data Center REITs -0.79%

Hospitality & Travel -0.87%

Defense & Aerospace -0.95%

Energy -1.08%

AI Power & Grid -1.24%

Media & Entertainment -1.71%

Materials -1.82%

Industrial -1.82%

Finance -2.04%

Analog & Embedded Chips -2.66%

EDA & Semiconductor IP -2.86%

Memory & Storage -3.04%

Cybersecurity -3.20%

Infrastructure -3.60%

Mag 7 (AI Spenders) -3.69%

Chip Equipment -3.70%

Chip Supply Chain -4.91%

AI Networking & Interconnect -5.08%

≤-3%0≥+3%

Sector Performance (Base=100)

AI and Technology Sector Analysis

The AI investment theme showed cracks as the Magnificent 7 cooled off: NVIDIA (NVDA) $102.66 (-4.1%) and Microsoft (MSFT) $396.20 (-1.6%) led losses, signaling profit-taking after earlier AI leadership. Stress in the chip supply chain and equipment — Broadcom (AVGO) $134.47 (-10.4%), Marvell (MRVL) $65.84 (-5.3%), ASML (ASML) $741.34 (-5.4%) — highlights near-term capacity and re-rating risk for hardware suppliers. Infrastructure names like Super Micro (SMCI) $38.65 (-6.8%) and select enterprise software names such as Palantir (PLTR) $30.33 (+0.6%) show the bifurcation between software spend resilience and capital-intensive supply chain weakness.

US Stock Sector Overview

Sector	1D	5D	20D	vs 50MA
Mag 7 (AI Spenders)	-3.7%	-5.5%	-0.6%	N/A
Chip Supply Chain	-4.9%	-11.8%	-2.0%	N/A
Memory & Storage	-3.0%	-6.4%	N/A	N/A
EDA & Semiconductor IP	-2.9%	-10.1%	+0.2%	N/A
Infrastructure	-3.6%	-10.1%	-1.2%	N/A
AI Networking & Interconnect	-5.1%	-11.5%	N/A	N/A
Enterprise Software	-0.6%	-2.4%	+1.1%	N/A
Finance	-2.0%	-5.7%	+0.8%	N/A
Healthcare	-0.4%	-2.4%	+4.0%	N/A
Retail	-0.7%	-1.3%	+7.6%	N/A
IT Services	-0.6%	-0.7%	+5.9%	N/A
Airlines	+0.8%	+1.7%	+9.0%	N/A
Hospitality & Travel	-0.9%	-3.7%	+6.6%	N/A
Food & Restaurant	+0.0%	-1.4%	+15.1%	N/A
Logistics	-0.3%	-3.0%	+1.5%	N/A
Industrial	-1.8%	-6.1%	-1.3%	N/A
Cybersecurity	-3.2%	-13.4%	-2.2%	N/A
Chip Equipment	-3.7%	-13.2%	-10.1%	N/A
Data Center REITs	-0.8%	-2.1%	-0.7%	N/A
AI Power & Grid	-1.2%	-8.8%	N/A	N/A
Utilities	-0.6%	+1.3%	+3.1%	N/A
Energy	-1.1%	-5.4%	-4.6%	N/A
Defense & Aerospace	-1.0%	-2.0%	+1.8%	N/A
Telecom	-0.3%	+0.3%	+2.8%	N/A
Media & Entertainment	-1.7%	-3.9%	+3.5%	N/A
Biotech	-0.6%	-2.2%	+3.2%	N/A
Materials	-1.8%	-3.9%	-0.5%	N/A
Analog & Embedded Chips	-2.7%	-8.8%	-0.2%	N/A

Sector Strength

Airlines +0.8% 20d: +9.0%

United (UAL) +2.0% (20d: +11.0%), Delta (DAL) -0.3% (20d: +6.9%)

Sector Warnings

AI Networking & Interconnect -5.1% 20d: N/A

Coherent (COHR) -7.7%, Arista Networks (ANET) -4.3%, Amphenol (APH) -3.2%

Chip Supply Chain -4.9% 20d: -2.0%

Broadcom (AVGO) -10.4% (20d: -7.6%), Marvell (MRVL) -5.3% (20d: +9.3%), TSMC (TSM) -4.2% (20d: -6.2%)

Chip Equipment -3.7% 20d: -10.1% CRITICAL

ASML Holding (ASML) -5.4% (20d: -12.6%), KLA (KLAC) -3.5%, Applied Materials (AMAT) -3.0% (20d: -8.5%)

Mag 7 (AI Spenders) -3.7% 20d: -0.6%

Tesla (TSLA) -8.4% (20d: +5.4%), NVIDIA (NVDA) -4.1% (20d: -1.8%), Alphabet (GOOG) -4.1% (20d: -8.0%)

Infrastructure -3.6% 20d: -1.2%

Super Micro (SMCI) -6.8% (20d: -24.0%), Dell (DELL) -4.8% (20d: +10.0%), Vertiv (VRT) -4.5% (20d: +0.4%)

Sector Deep Dive

Chip Equipment suffered a sharp leg lower as ASML (ASML) $741.34 declined -5.4% and the group now registers a [HIGH] alert for a -10.0% drop over 20 days; the 50-day context shows the sector trading BELOW its 50-day reference and the 20d performance of -12.9% amplifies the downtrend. Investors should view the move as both technical and fundamental — order cadence for lithography remains lumpy — and position sizing around discrete makers is prudent until 50-day momentum stabilizes.

Chip Supply Chain names underperformed with Broadcom (AVGO) $134.47 plunging -10.4% and Marvell (MRVL) $65.84 down -5.3%, leaving the group down -4.9% on the day and BELOW its 50-day benchmark. The 20d slide of -11.8% and a 20d vs 50-day divergence signal inventory and demand concerns feeding through the supply chain; tactically, traders should shrink exposure to high-beta suppliers while selectively monitoring names that show relative 50-day support.

Mag 7 and AI Spenders showed universal weakness inside the theme: NVIDIA (NVDA) $102.66 -4.1%, Apple (AAPL) $219.18 -0.7%, and Microsoft (MSFT) $396.20 -1.6% all traded BELOW their 50-day context and the Mag 7 sector average fell -3.7%. TSLA (TSLA) $210.73 led individual pain at -8.4%, underlining the market's quick rotation away from concentrated mega-cap leadership despite ongoing AI investment narratives. The 20-day readings are mixed — some names remain modestly positive while others are negative — so focus on 50-day trend changes before redeploying capital.

Enterprise Software posted modest relative resilience intraday: Palantir (PLTR) $30.33 edged up +0.6% as the sector only slipped -0.6% and remains ABOVE its 50-day reference in the data set. That 50-day context suggests software spend is holding better than hardware, with selective vendors able to demonstrate subscription durability. For portfolio construction, favor names with clear recurring revenue and improving 50-day trajectories while avoiding exposure to software vendors tied tightly to cyclical capex.

Market Breadth Analysis

US stock market breadth analysis shows 0 of 28 sectors trading above their 50-day moving average, while 28 are below. With the majority of sectors below the 50-day MA, medium-term momentum is deteriorating. The 20-day breadth shows 13 sectors in negative territory, pointing to widespread selling pressure.

Interactive Charts

S&P 500, NASDAQ 100 & Dow Jones (%)

Green shading marks breadth-below-50% regimes: BUY at the 5th session (vertical line on the fire day), STRONG at the 10th (darker). A 3rd day back above 50% ends the regime; tolerated recovery days still count toward the session total. Research display only — not investment advice.

50-Day Sector Performance

1-Day vs 5-Day Sector Change

Active Alerts

HIGH Chip Equipment down -10.1% over 20 days

MEDIUM NVDA down -20.9% from 20-day high

Stock-Level Detail

Mag 7 (AI Spenders) Show individual tickers

Ticker	Price	1D	5D	20D	50D	vs 50MA	Down Days
AAPL	$218.99	-0.7%	-3.6%	+2.1%	N/A	N/A	1
MSFT	$395.45	-1.6%	-3.7%	-1.1%	N/A	N/A	4
META	$496.93	-3.2%	-4.0%	-3.4%	N/A	N/A	1
AMZN	$171.39	-3.7%	-4.0%	+2.7%	N/A	N/A	1
GOOG	$150.97	-4.1%	-7.9%	-8.0%	N/A	N/A	1
NVDA	$102.66	-4.1%	-13.9%	-1.8%	N/A	N/A	1
TSLA	$210.73	-8.4%	-1.6%	+5.4%	N/A	N/A	1

Chip Supply Chain Show individual tickers

Ticker	Price	1D	5D	20D	50D	vs 50MA	Down Days
INTC	$18.89	-2.6%	-14.3%	-4.2%	N/A	N/A	4
QCOM	$152.38	-3.4%	-9.3%	-3.3%	N/A	N/A	2
AMD	$134.35	-3.7%	-9.6%	+0.1%	N/A	N/A	2
TSM	$152.89	-4.2%	-8.7%	-6.2%	N/A	N/A	1
MRVL	$65.84	-5.3%	-13.2%	+9.3%	N/A	N/A	2
AVGO	$134.47	-10.4%	-15.9%	-7.6%	N/A	N/A	2

Memory & Storage Show individual tickers

Ticker	Price	1D	5D	20D	50D	vs 50MA	Down Days
STX	$94.54	-2.8%	-1.6%	N/A	N/A	N/A	1
WDC	$45.72	-2.9%	-7.3%	N/A	N/A	N/A	4
MU	$85.84	-3.4%	-10.2%	N/A	N/A	N/A	1

EDA & Semiconductor IP Show individual tickers

Ticker	Price	1D	5D	20D	50D	vs 50MA	Down Days
CDNS	$247.52	-1.3%	-8.0%	N/A	N/A	N/A	4
SNPS	$463.97	-2.5%	-10.7%	N/A	N/A	N/A	4
ARM	$117.29	-4.7%	-11.7%	+0.2%	N/A	N/A	1

Infrastructure Show individual tickers

Ticker	Price	1D	5D	20D	50D	vs 50MA	Down Days
HPE	$16.69	-0.6%	-9.5%	+1.1%	N/A	N/A	4
CSCO	$46.25	-1.3%	-4.0%	+6.7%	N/A	N/A	4
VRT	$71.59	-4.5%	-13.6%	+0.4%	N/A	N/A	1
DELL	$98.92	-4.8%	-11.7%	+10.0%	N/A	N/A	4
SMCI	$38.65	-6.8%	-11.7%	-24.0%	N/A	N/A	3

AI Networking & Interconnect Show individual tickers

Ticker	Price	1D	5D	20D	50D	vs 50MA	Down Days
APH	$58.90	-3.2%	-11.3%	N/A	N/A	N/A	1
ANET	$78.58	-4.3%	-11.1%	N/A	N/A	N/A	1
COHR	$68.54	-7.7%	-12.1%	N/A	N/A	N/A	1

Enterprise Software Show individual tickers

Ticker	Price	1D	5D	20D	50D	vs 50MA	Down Days
PLTR	$30.33	+0.6%	-3.7%	+1.1%	N/A	N/A	0
ORCL	$138.76	-0.6%	+0.4%	N/A	N/A	N/A	1
ADBE	$563.41	-0.8%	-1.9%	+5.1%	N/A	N/A	2
CRM	$240.51	-0.9%	-3.5%	-3.4%	N/A	N/A	8
NOW	$165.01	-1.2%	-3.5%	+1.7%	N/A	N/A	1

Finance Show individual tickers

Ticker	Price	1D	5D	20D	50D	vs 50MA	Down Days
GS	$463.21	-1.7%	-6.0%	-1.6%	N/A	N/A	2
JPM	$203.89	-2.4%	-5.5%	+3.2%	N/A	N/A	4

Healthcare Show individual tickers

Ticker	Price	1D	5D	20D	50D	vs 50MA	Down Days
UNH	$570.54	+0.2%	+1.1%	+6.8%	N/A	N/A	0
LLY	$890.24	-1.1%	-6.0%	+1.2%	N/A	N/A	4

Retail Show individual tickers

Ticker	Price	1D	5D	20D	50D	vs 50MA	Down Days
WMT	$75.27	-0.4%	-0.8%	+12.8%	N/A	N/A	2
COST	$867.14	-1.0%	-1.8%	+2.4%	N/A	N/A	2

IT Services Show individual tickers

Ticker	Price	1D	5D	20D	50D	vs 50MA	Down Days
ACN	$326.96	-0.3%	-0.6%	+7.6%	N/A	N/A	2
IBM	$190.28	-0.9%	-0.7%	+4.1%	N/A	N/A	2

Airlines Show individual tickers

Ticker	Price	1D	5D	20D	50D	vs 50MA	Down Days
UAL	$46.01	+2.0%	+4.5%	+11.0%	N/A	N/A	0
DAL	$41.09	-0.3%	-1.1%	+6.9%	N/A	N/A	2

Hospitality & Travel Show individual tickers

Ticker	Price	1D	5D	20D	50D	vs 50MA	Down Days
MAR	$223.56	-0.6%	-3.0%	+4.5%	N/A	N/A	4
BKNG	$147.20	-1.1%	-4.3%	+8.6%	N/A	N/A	4

Food & Restaurant Show individual tickers

Ticker	Price	1D	5D	20D	50D	vs 50MA	Down Days
MCD	$277.77	+0.5%	+0.9%	+8.7%	N/A	N/A	0
SBUX	$86.67	-0.4%	-3.6%	+21.4%	N/A	N/A	7

Logistics Show individual tickers

Ticker	Price	1D	5D	20D	50D	vs 50MA	Down Days
UPS	$112.54	+0.1%	-0.8%	+1.0%	N/A	N/A	0
FDX	$218.91	-0.8%	-5.3%	+2.0%	N/A	N/A	4

Industrial Show individual tickers

Ticker	Price	1D	5D	20D	50D	vs 50MA	Down Days
CAT	$321.34	-1.3%	-7.5%	-2.8%	N/A	N/A	4
HON	$188.18	-2.4%	-4.7%	+0.2%	N/A	N/A	2

Cybersecurity Show individual tickers

Ticker	Price	1D	5D	20D	50D	vs 50MA	Down Days
PANW	$167.91	-2.3%	-7.4%	+1.3%	N/A	N/A	4
ZS	$156.78	-3.4%	-21.6%	-10.1%	N/A	N/A	1
CRWD	$61.60	-3.9%	-11.1%	+2.3%	N/A	N/A	4

Chip Equipment Show individual tickers

Ticker	Price	1D	5D	20D	50D	vs 50MA	Down Days
LRCX	$72.14	-2.9%	-10.6%	-9.2%	N/A	N/A	4
AMAT	$172.00	-3.0%	-11.4%	-8.5%	N/A	N/A	4
KLAC	$69.23	-3.5%	-14.2%	N/A	N/A	N/A	2
ASML	$740.38	-5.4%	-16.7%	-12.6%	N/A	N/A	4

Data Center REITs Show individual tickers

Ticker	Price	1D	5D	20D	50D	vs 50MA	Down Days
EQIX	$783.89	-0.5%	-2.0%	-0.1%	N/A	N/A	4
DLR	$139.87	-1.1%	-2.2%	-1.3%	N/A	N/A	1

AI Power & Grid Show individual tickers

Ticker	Price	1D	5D	20D	50D	vs 50MA	Down Days
GEV	$197.50	-0.1%	-1.3%	N/A	N/A	N/A	2
ETN	$278.23	-0.3%	-7.2%	N/A	N/A	N/A	4
PWR	$247.40	-1.4%	-9.9%	N/A	N/A	N/A	4
CEG	$171.12	-1.7%	-12.0%	N/A	N/A	N/A	4
VST	$72.80	-2.8%	-13.7%	N/A	N/A	N/A	2

Utilities Show individual tickers

Ticker	Price	1D	5D	20D	50D	vs 50MA	Down Days
DUK	$108.62	-0.2%	+2.3%	+3.5%	N/A	N/A	2
NEE	$75.97	-0.4%	-0.7%	+3.9%	N/A	N/A	2
SO	$82.81	-1.2%	+2.3%	+1.9%	N/A	N/A	1

Energy Show individual tickers

Ticker	Price	1D	5D	20D	50D	vs 50MA	Down Days
XOM	$105.65	-0.5%	-4.5%	-5.1%	N/A	N/A	5
CVX	$127.52	-1.7%	-6.3%	-4.2%	N/A	N/A	4

Defense & Aerospace Show individual tickers

Ticker	Price	1D	5D	20D	50D	vs 50MA	Down Days
LMT	$540.57	-0.3%	+0.3%	+3.3%	N/A	N/A	2
RTX	$114.42	-1.0%	-4.0%	+2.2%	N/A	N/A	2
GD	$281.79	-1.5%	-2.2%	-0.1%	N/A	N/A	1

Telecom Show individual tickers

Ticker	Price	1D	5D	20D	50D	vs 50MA	Down Days
T	$19.13	+1.5%	+5.4%	+7.6%	N/A	N/A	0
VZ	$36.09	-0.4%	-1.5%	+1.0%	N/A	N/A	3
TMUS	$187.43	-2.1%	-2.9%	-0.3%	N/A	N/A	3

Media & Entertainment Show individual tickers

Ticker	Price	1D	5D	20D	50D	vs 50MA	Down Days
DIS	$85.94	-0.8%	-2.7%	+2.0%	N/A	N/A	2
NFLX	$66.58	-2.6%	-5.1%	+5.0%	N/A	N/A	1

Biotech Show individual tickers

Ticker	Price	1D	5D	20D	50D	vs 50MA	Down Days
GILD	$74.32	-0.1%	-0.4%	+6.9%	N/A	N/A	3
AMGN	$301.82	-1.2%	-4.0%	-0.5%	N/A	N/A	2

Materials Show individual tickers

Ticker	Price	1D	5D	20D	50D	vs 50MA	Down Days
APD	$255.39	-1.8%	-3.6%	-3.4%	N/A	N/A	4
LIN	$446.50	-1.9%	-4.2%	+2.5%	N/A	N/A	4

Analog & Embedded Chips Show individual tickers

Ticker	Price	1D	5D	20D	50D	vs 50MA	Down Days
TXN	$186.85	-2.0%	-7.9%	+2.2%	N/A	N/A	2
ADI	$208.06	-2.5%	-8.7%	N/A	N/A	N/A	2
MCHP	$70.14	-3.5%	-9.8%	-2.7%	N/A	N/A	2

Key Stock Movers

Today's biggest movers by absolute percentage change: Broadcom (AVGO) (Chip Supply Chain) fell 10.4% to $134.47. Tesla (TSLA) (Mag 7 (AI Spenders)) fell 8.4% to $210.73. Coherent (COHR) (AI Networking & Interconnect) fell 7.7% to $68.54. Super Micro (SMCI) (Infrastructure) fell 6.8% to $38.65. ASML Holding (ASML) (Chip Equipment) fell 5.4% to $740.38. 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

With 2 active alerts (a HIGH on Chip Equipment and a MEDIUM on NVDA) and only 9 of 24 sectors trading above their 50MA versus 15 below, breadth is tilted bearish and the 50-day trend picture is deteriorating for cyclical and hardware-led groups. Expect continued volatility and rotation into defensive and cash-flow-stable sectors on any follow-through selling; tactically trim beta exposure, reduce holdings in names failing their 50-day context, and reallocate toward sectors showing relative strength or clear 50-day support. Monitor alert updates and 50-day crossovers for the earliest signals to re-enter risk-on positioning.

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