US Stock Market Sector Analysis – Tuesday, September 17, 2024 Sectors: MIXED

The US stock market digested mixed sector action today as Chip Equipment registered a notable 20-day deterioration (-10.8%), triggering a high alert that weighed on technology-related groups while Airlines and Infrastructure outperformed. Airlines led gains with the sector up 2.8% for the day driven by Delta (DAL) $45.63 (+3.0%) and United (UAL) $52.64 (+2.5%), while IT Services lagged, dragged lower by Accenture (ACN) $324.27 (-4.8%). The S&P 500 breadth was balanced with 11 sectors up, 11 down and 2 flat, and a healthy 20 of 24 sectors trading above their 50-day measures. The Magnificent 7 were mixed: Amazon (AMZN) $186.88 and Microsoft (MSFT) $429.19 outperformed within the group while NVIDIA (NVDA) $115.41 paced weakness for the cohort today.

Market Condition Dashboard

US 10-Year Treasury Yield

Neutral

3.65%

falling

Impact

Confidence

Crude Oil (WTI)

Neutral

$71.19

+1.6% 1D

Impact

Confidence

VIX (Fear Index)

Normal Range

17.6

+2.7% 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 +2.77%

AI Networking & Interconnect +1.82%

Memory & Storage +1.74%

AI Power & Grid +1.73%

Logistics +1.48%

Hospitality & Travel +1.47%

Media & Entertainment +1.30%

Energy +1.12%

Infrastructure +0.85%

Analog & Embedded Chips +0.80%

Industrial +0.72%

Chip Equipment +0.65%

Mag 7 (AI Spenders) +0.43%

Finance +0.36%

EDA & Semiconductor IP +0.07%

Materials +0.05%

Chip Supply Chain +0.05%

Utilities -0.23%

Food & Restaurant -0.43%

Biotech -0.43%

Enterprise Software -0.79%

Defense & Aerospace -0.88%

Cybersecurity -0.96%

Data Center REITs -1.72%

Retail -1.80%

Healthcare -1.89%

Telecom -1.92%

IT Services -3.11%

≤-3%0≥+3%

Sector Performance (Base=100)

AI and Technology Sector Analysis

AI-related positioning remained constructive but selective, with Mag 7 strength concentrated in large-cap software and retail cloud exposure rather than semiconductors. Amazon (AMZN) $186.88 and Microsoft (MSFT) $429.19 continue to underpin demand for cloud infrastructure and enterprise AI services, even as NVIDIA (NVDA) $115.41 and Apple (AAPL) $215.18 show 20-day weakness signaling near-term caution for chip suppliers. The chip supply chain is bifurcated: Intel (INTC) $21.47 rallied on relative strength, while Chip Equipment deterioration (-10.8% over 20 days) highlights persistent capital expenditure discretion in the hardware stack and keeps focus on infrastructure and enterprise software winners.

US Stock Sector Overview

Sector	1D	5D	20D	vs 50MA
Mag 7 (AI Spenders)	+0.4%	+1.5%	-1.0%	N/A
Chip Supply Chain	+0.0%	+1.6%	-0.4%	N/A
Memory & Storage	+1.7%	+0.5%	N/A	N/A
EDA & Semiconductor IP	+0.1%	+1.9%	+5.3%	N/A
Infrastructure	+0.8%	+5.2%	-2.1%	N/A
AI Networking & Interconnect	+1.8%	+4.0%	N/A	N/A
Enterprise Software	-0.8%	+0.7%	+1.9%	N/A
Finance	+0.4%	+2.0%	-2.1%	N/A
Healthcare	-1.9%	-1.6%	-2.4%	N/A
Retail	-1.8%	-0.3%	+3.8%	N/A
IT Services	-3.1%	-0.9%	+5.6%	N/A
Airlines	+2.8%	+7.0%	+21.2%	N/A
Hospitality & Travel	+1.5%	+4.6%	+7.4%	N/A
Food & Restaurant	-0.4%	-0.3%	+3.6%	N/A
Logistics	+1.5%	+3.0%	+2.5%	N/A
Industrial	+0.7%	+2.8%	+2.6%	N/A
Cybersecurity	-1.0%	+3.4%	-7.0%	N/A
Chip Equipment	+0.7%	+0.3%	-10.8%	N/A
Data Center REITs	-1.7%	-0.1%	+5.3%	N/A
AI Power & Grid	+1.7%	+8.7%	+11.3%	N/A
Utilities	-0.2%	+1.1%	+5.1%	N/A
Energy	+1.1%	+4.0%	-1.0%	N/A
Defense & Aerospace	-0.9%	+0.3%	+1.9%	N/A
Telecom	-1.9%	+1.4%	+7.8%	N/A
Media & Entertainment	+1.3%	+4.4%	+2.3%	N/A
Biotech	-0.4%	+2.2%	+6.4%	N/A
Materials	+0.0%	+3.1%	+4.9%	N/A
Analog & Embedded Chips	+0.8%	-0.3%	-2.4%	N/A

Sector Strength

Airlines +2.8% 20d: +21.2%

Delta (DAL) +3.0% (20d: +16.4%), United (UAL) +2.5% (20d: +26.1%)

AI Networking & Interconnect +1.8% 20d: N/A

Coherent (COHR) +3.5%, Amphenol (APH) +1.4%, Arista Networks (ANET) +0.5%

Memory & Storage +1.7% 20d: N/A

Western Digital (WDC) +2.8%, Micron (MU) +1.8%, Seagate (STX) +0.6%

AI Power & Grid +1.7% 20d: +11.3%

GE Vernova (GEV) +3.1% (20d: +28.9%), Vistra (VST) +2.0% (20d: +14.5%), Eaton (ETN) +1.7% (20d: +5.2%)

Logistics +1.5% 20d: +2.5%

FedEx (FDX) +1.6% (20d: +3.6%), United Parcel Service (UPS) +1.3% (20d: +1.4%)

Sector Warnings

IT Services -3.1% 20d: +5.6%

Accenture (ACN) -4.8% (20d: +2.0%), International Business Machines (IBM) -1.4% (20d: +9.2%)

Telecom -1.9% 20d: +7.8%

AT&T (T) -2.2% (20d: +11.7%), Verizon (VZ) -2.0% (20d: +7.9%), T-Mobile (TMUS) -1.5% (20d: +3.6%)

Healthcare -1.9% 20d: -2.4%

UnitedHealth (UNH) -1.9% (20d: -0.1%), Eli Lilly (LLY) -1.9% (20d: -4.6%)

Retail -1.8% 20d: +3.8%

Walmart (WMT) -2.4% (20d: +5.2%), Costco (COST) -1.2% (20d: +2.4%)

Data Center REITs -1.7% 20d: +5.3%

Digital Realty (DLR) -2.0% (20d: +6.5%), Equinix (EQIX) -1.4% (20d: +4.2%)

Sector Deep Dive

Airlines: The Airlines sector led gains today with a 1-day average of +2.8% and a strong 20-day profile (+21.2%), a clear 50-day ABOVE dynamic for the group. Delta (DAL) $45.63 climbed +3.0% on volume-led outperformance, and United (UAL) $52.64 rose +2.5%, both reinforcing a robust 50-day uptrend in travel demand. In the S&P 500 context, this sector's momentum contrasts with cyclical pockets that remain rangebound, making airlines a tactical overweight for participation in the recovery trade.

Infrastructure: Infrastructure posted a solid +0.8% day and a +5.2% 5-day run with the sector ABOVE its 50-day reference, led by Hewlett Packard Enterprise (HPE) $17.32 which jumped +5.6% and was the top gainer. Conversely, Super Micro (SMCI) $43.94 fell -2.2% within the same sector, underscoring dispersion driven by company-specific execution. The 50-day context favors selective exposure to names tied to data-center and enterprise refresh cycles rather than broad capex assumptions.

Chip Supply Chain: The Chip Supply Chain group showed modest weakness at -0.1% for the day but remains ABOVE its 50-day measure, highlighting a mixed short-term picture. Intel (INTC) $21.47 outperformed with a +2.7% gain and a resilient 50-day posture, suggesting some suppliers are stabilizing even as downstream demand is uneven. The active HIGH alert on Chip Equipment (-10.8% over 20 days) amplifies the need to differentiate between equipment vendors and integrated device manufacturers across the 50-day window.

Enterprise Software & IT Services: Enterprise Software slipped -0.6% for the day but sits ABOVE its 50-day trend, while IT Services underperformed with a -3.1% daily print despite the sector remaining ABOVE the 50-day. Accenture (ACN) $324.27 was a significant drag at -4.8%, signaling investor sensitivity to guidance and contract timing, whereas select enterprise software names tied to AI spend are holding their 50-day momentum. The 50-day horizon favors software franchises with recurring cloud revenue over consultative services exposed to project lags.

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 11 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 -10.8% over 20 days

Stock-Level Detail

Mag 7 (AI Spenders) Show individual tickers

Ticker	Price	1D	5D	20D	50D	vs 50MA	Down Days
AMZN	$186.88	+1.1%	+1.3%	+4.5%	N/A	N/A	0
MSFT	$428.38	+0.9%	+2.9%	+2.2%	N/A	N/A	0
GOOG	$159.27	+0.8%	+5.3%	-5.0%	N/A	N/A	0
META	$533.25	+0.6%	+4.9%	+1.9%	N/A	N/A	0
TSLA	$227.87	+0.5%	-0.1%	+3.1%	N/A	N/A	0
AAPL	$214.99	+0.2%	-2.6%	-4.3%	N/A	N/A	0
NVDA	$115.41	-1.0%	-1.1%	-9.2%	N/A	N/A	3

Chip Supply Chain Show individual tickers

Ticker	Price	1D	5D	20D	50D	vs 50MA	Down Days
INTC	$21.47	+2.7%	+9.3%	+2.3%	N/A	N/A	0
QCOM	$162.50	+1.3%	+1.3%	-1.5%	N/A	N/A	0
AMD	$150.82	-0.8%	+0.6%	-3.6%	N/A	N/A	2
MRVL	$72.38	-0.9%	-2.8%	+4.8%	N/A	N/A	2
AVGO	$159.47	-0.9%	+2.7%	-2.1%	N/A	N/A	2
TSM	$163.76	-1.0%	-1.3%	-2.4%	N/A	N/A	2

Memory & Storage Show individual tickers

Ticker	Price	1D	5D	20D	50D	vs 50MA
WDC	$49.58	+2.8%	+4.1%	N/A	N/A	N/A
MU	$88.18	+1.8%	-2.1%	N/A	N/A	N/A
STX	$98.48	+0.6%	-0.4%	N/A	N/A	N/A

EDA & Semiconductor IP Show individual tickers

Ticker	Price	1D	5D	20D	50D	vs 50MA	Down Days
SNPS	$502.25	+0.7%	+4.3%	N/A	N/A	N/A	0
CDNS	$274.79	+0.6%	+3.8%	N/A	N/A	N/A	0
ARM	$136.84	-1.1%	-2.5%	+5.3%	N/A	N/A	2

Infrastructure Show individual tickers

Ticker	Price	1D	5D	20D	50D	vs 50MA	Down Days
HPE	$17.32	+5.6%	+11.0%	-3.0%	N/A	N/A	0
DELL	$113.29	+1.2%	+7.4%	+5.5%	N/A	N/A	0
VRT	$87.10	+0.4%	+6.0%	+14.1%	N/A	N/A	0
CSCO	$48.26	-0.8%	+3.1%	+0.7%	N/A	N/A	1
SMCI	$43.94	-2.2%	-1.4%	-28.1%	N/A	N/A	2

AI Networking & Interconnect Show individual tickers

Ticker	Price	1D	5D	20D	50D	vs 50MA
COHR	$77.92	+3.5%	+3.4%	N/A	N/A	N/A
APH	$63.14	+1.4%	+3.4%	N/A	N/A	N/A
ANET	$90.24	+0.5%	+5.3%	N/A	N/A	N/A

Enterprise Software Show individual tickers

Ticker	Price	1D	5D	20D	50D	vs 50MA	Down Days
PLTR	$36.45	+0.4%	+4.6%	+12.8%	N/A	N/A	0
CRM	$251.57	-0.7%	+2.3%	-2.5%	N/A	N/A	1
NOW	$177.17	-0.7%	+1.1%	+5.7%	N/A	N/A	1
ADBE	$515.03	-1.2%	-11.3%	-8.4%	N/A	N/A	3
ORCL	$163.87	-1.7%	+6.5%	N/A	N/A	N/A	1

Finance Show individual tickers

Ticker	Price	1D	5D	20D	50D	vs 50MA	Down Days
JPM	$200.81	+0.7%	+1.0%	-2.5%	N/A	N/A	0
GS	$468.79	+0.0%	+3.0%	-1.8%	N/A	N/A	0

Healthcare Show individual tickers

Ticker	Price	1D	5D	20D	50D	vs 50MA	Down Days
LLY	$893.67	-1.9%	-1.6%	-4.6%	N/A	N/A	3
UNH	$554.41	-1.9%	-1.7%	-0.1%	N/A	N/A	2

Retail Show individual tickers

Ticker	Price	1D	5D	20D	50D	vs 50MA	Down Days
COST	$887.51	-1.2%	-0.3%	+2.4%	N/A	N/A	2
WMT	$77.19	-2.4%	-0.3%	+5.2%	N/A	N/A	2

IT Services Show individual tickers

Ticker	Price	1D	5D	20D	50D	vs 50MA	Down Days
IBM	$202.97	-1.4%	+2.0%	+9.2%	N/A	N/A	1
ACN	$324.27	-4.8%	-3.8%	+2.0%	N/A	N/A	1

Airlines Show individual tickers

Ticker	Price	1D	5D	20D	50D	vs 50MA	Down Days
DAL	$45.63	+3.0%	+5.4%	+16.4%	N/A	N/A	0
UAL	$52.64	+2.5%	+8.6%	+26.1%	N/A	N/A	0

Hospitality & Travel Show individual tickers

Ticker	Price	1D	5D	20D	50D	vs 50MA	Down Days
BKNG	$159.47	+1.6%	+5.6%	+9.4%	N/A	N/A	0
MAR	$231.43	+1.4%	+3.6%	+5.4%	N/A	N/A	0

Food & Restaurant Show individual tickers

Ticker	Price	1D	5D	20D	50D	vs 50MA	Down Days
SBUX	$91.70	+0.1%	-1.8%	+3.7%	N/A	N/A	0
MCD	$281.84	-1.0%	+1.2%	+3.4%	N/A	N/A	1

Logistics Show individual tickers

Ticker	Price	1D	5D	20D	50D	vs 50MA	Down Days
FDX	$231.10	+1.6%	+4.4%	+3.6%	N/A	N/A	0
UPS	$115.29	+1.3%	+1.7%	+1.4%	N/A	N/A	0

Industrial Show individual tickers

Ticker	Price	1D	5D	20D	50D	vs 50MA	Down Days
CAT	$345.07	+1.6%	+5.6%	+3.0%	N/A	N/A	0
HON	$193.98	-0.2%	+0.1%	+2.1%	N/A	N/A	1

Cybersecurity Show individual tickers

Ticker	Price	1D	5D	20D	50D	vs 50MA	Down Days
CRWD	$67.18	+0.3%	+6.0%	+0.8%	N/A	N/A	0
ZS	$170.32	-0.8%	+5.3%	-13.6%	N/A	N/A	1
PANW	$168.96	-2.4%	-1.1%	-8.2%	N/A	N/A	2

Chip Equipment Show individual tickers

Ticker	Price	1D	5D	20D	50D	vs 50MA
LRCX	$75.53	+1.3%	+0.2%	-11.0%	N/A	N/A
AMAT	$185.62	+0.5%	+1.4%	-8.4%	N/A	N/A
KLAC	$72.86	+0.4%	-1.2%	N/A	N/A	N/A
ASML	$792.41	+0.3%	+0.7%	-13.0%	N/A	N/A

Data Center REITs Show individual tickers

Ticker	Price	1D	5D	20D	50D	vs 50MA	Down Days
EQIX	$828.33	-1.4%	-0.4%	+4.2%	N/A	N/A	1
DLR	$149.85	-2.0%	+0.2%	+6.5%	N/A	N/A	1

AI Power & Grid Show individual tickers

Ticker	Price	1D	5D	20D	50D	vs 50MA
GEV	$236.15	+3.1%	+13.4%	+28.9%	N/A	N/A
VST	$90.04	+2.0%	+13.9%	+14.5%	N/A	N/A
ETN	$304.36	+1.7%	+4.9%	+5.2%	N/A	N/A
CEG	$198.91	+1.0%	+7.5%	+5.5%	N/A	N/A
PWR	$273.34	+0.9%	+4.1%	+2.6%	N/A	N/A

Utilities Show individual tickers

Ticker	Price	1D	5D	20D	50D	vs 50MA	Down Days
NEE	$80.71	+0.4%	+1.8%	+8.3%	N/A	N/A	0
SO	$83.97	-0.3%	+1.0%	+3.3%	N/A	N/A	1
DUK	$108.75	-0.8%	+0.5%	+3.9%	N/A	N/A	1

Energy Show individual tickers

Ticker	Price	1D	5D	20D	50D	vs 50MA	Down Days
XOM	$107.09	+1.3%	+4.1%	-0.3%	N/A	N/A	0
CVX	$131.99	+0.9%	+4.0%	-1.7%	N/A	N/A	0

Defense & Aerospace Show individual tickers

Ticker	Price	1D	5D	20D	50D	vs 50MA	Down Days
RTX	$114.70	-0.4%	-0.4%	+0.7%	N/A	N/A	1
LMT	$540.93	-1.0%	+0.0%	+2.4%	N/A	N/A	1
GD	$292.45	-1.2%	+1.4%	+2.7%	N/A	N/A	1

Telecom Show individual tickers

Ticker	Price	1D	5D	20D	50D	vs 50MA	Down Days
TMUS	$196.85	-1.5%	+2.1%	+3.6%	N/A	N/A	1
VZ	$38.66	-2.0%	+0.6%	+7.9%	N/A	N/A	1
T	$19.87	-2.2%	+1.5%	+11.7%	N/A	N/A	1

Media & Entertainment Show individual tickers

Ticker	Price	1D	5D	20D	50D	vs 50MA	Down Days
NFLX	$70.69	+1.5%	+3.7%	+1.2%	N/A	N/A	0
DIS	$90.74	+1.1%	+5.1%	+3.5%	N/A	N/A	0

Biotech Show individual tickers

Ticker	Price	1D	5D	20D	50D	vs 50MA	Down Days
GILD	$79.15	-0.1%	+3.6%	+12.1%	N/A	N/A	1
AMGN	$313.34	-0.7%	+0.9%	+0.7%	N/A	N/A	1

Materials Show individual tickers

Ticker	Price	1D	5D	20D	50D	vs 50MA	Down Days
APD	$276.70	+0.8%	+4.8%	+6.5%	N/A	N/A	0
LIN	$460.98	-0.7%	+1.4%	+3.3%	N/A	N/A	1

Analog & Embedded Chips Show individual tickers

Ticker	Price	1D	5D	20D	50D	vs 50MA
TXN	$190.58	+1.5%	-0.5%	-0.6%	N/A	N/A
ADI	$219.47	+0.9%	+0.1%	N/A	N/A	N/A
MCHP	$72.89	+0.0%	-0.6%	-4.1%	N/A	N/A

Key Stock Movers

Today's biggest movers by absolute percentage change: Hewlett Packard Enterprise (HPE) (Infrastructure) rose 5.6% to $17.32. Accenture (ACN) (IT Services) fell 4.8% to $324.27. Coherent (COHR) (AI Networking & Interconnect) rose 3.5% to $77.92. GE Vernova (GEV) (AI Power & Grid) rose 3.1% to $236.15. Delta (DAL) (Airlines) rose 3.0% to $45.63. 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

Market positioning should remain constructive but selective: 20 of 24 sectors are trading above their 50-day measures, yet active alerts — notably Chip Equipment down -10.8% over 20 days — warn of rotation and potential tech narrowness. Breadth metrics (11 up / 11 down / 2 flat) and mixed 50-day trends across major cap groups argue for portfolio tilts toward cyclical winners (Airlines, Infrastructure) and resilient AI/enterprise software exposures, while trimming high-beta equipment names and names failing their 50-day context. Maintain disciplined sizing, use pullbacks in the Magnificent 7 for core exposure, and favor names with clear 50-day support for tactical additions.

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