US Stock Market Sector Analysis – Wednesday, September 18, 2024 Sectors: MIXED

The US stock market traded mixed as a broad tech pullback and sector-specific weakness drove uneven sector action; Chip Equipment weakness led headlines after ASML fell 2.2% and the group is down 13.5% over 20 days. The S&P 500 held near session lows with 13 sectors lower and only 4 higher, while the Magnificent 7 cohort was essentially flat (-0.1%) with NVIDIA (NVDA) dragging after a 1.9% drop to $113.19. Defensive and travel pockets outperformed — Marriott (MAR) climbed 1.3% to $234.98 — while Intel (INTC) slid 3.3% to $20.77, weighing on the Chip Supply Chain. Today's moves reflect earnings- and tech-positioning dynamics that dominated sector analysis across the tape.

Market Condition Dashboard

US 10-Year Treasury Yield

Neutral

3.70%

falling

Impact

Confidence

Crude Oil (WTI)

Neutral

$70.91

-0.4% 1D

Impact

Confidence

VIX (Fear Index)

Normal Range

18.2

+3.5% 1D

Impact

Confidence

Put/Call Ratio (5D)

Caution

0.75

Call-Heavy · stable

Impact

Confidence

Signal analysis only — not investment advice

Sector Heatmap (1D)

AI Networking & Interconnect +1.02%

Airlines +0.56%

Biotech +0.52%

Hospitality & Travel +0.49%

Energy +0.37%

Healthcare +0.17%

Logistics +0.14%

IT Services +0.06%

Data Center REITs +0.02%

Retail +0.01%

Infrastructure -0.08%

Mag 7 (AI Spenders) -0.15%

AI Power & Grid -0.15%

Industrial -0.43%

Defense & Aerospace -0.44%

Food & Restaurant -0.46%

Finance -0.49%

EDA & Semiconductor IP -0.67%

Enterprise Software -0.74%

Utilities -0.75%

Media & Entertainment -0.78%

Analog & Embedded Chips -0.79%

Materials -1.15%

Telecom -1.22%

Chip Supply Chain -1.23%

Cybersecurity -1.36%

Chip Equipment -1.50%

Memory & Storage -1.63%

≤-3%0≥+3%

Sector Performance (Base=100)

AI and Technology Sector Analysis

AI-related positioning remained a mixed story: the Mag 7 group showed limited net movement with Microsoft (MSFT) edging down 1.0% to $424.91 even as NVIDIA (NVDA) fell to $113.19, highlighting divergent risk pricing inside the cohort. Strength in select infrastructure and chip-supply names such as ARM Holdings (ARM) rising 1.1% to $138.36 contrasts with steep weakness in chip equipment where capital-spend concerns pressure long-cycle suppliers. Enterprise software and cybersecurity sentiment cooled — Palo Alto Networks (PANW) slipped 2.4% to $164.88 — signaling investors are rotating from speculative AI-capex hopes toward nearer-term earnings visibility and infrastructure winners.

US Stock Sector Overview

Sector	1D	5D	20D	vs 50MA
Mag 7 (AI Spenders)	-0.1%	-0.1%	-1.5%	N/A
Chip Supply Chain	-1.2%	-0.0%	-2.7%	N/A
Memory & Storage	-1.6%	+0.8%	-7.9%	N/A
EDA & Semiconductor IP	-0.7%	+0.3%	+5.5%	N/A
Infrastructure	-0.1%	+2.8%	-3.3%	N/A
AI Networking & Interconnect	+1.0%	+2.8%	N/A	N/A
Enterprise Software	-0.7%	-1.4%	+1.1%	N/A
Finance	-0.5%	+1.3%	-2.6%	N/A
Healthcare	+0.2%	-2.1%	-2.1%	N/A
Retail	+0.0%	-1.6%	+3.0%	N/A
IT Services	+0.1%	-1.2%	+4.9%	N/A
Airlines	+0.6%	+6.3%	+21.4%	N/A
Hospitality & Travel	+0.5%	+3.8%	+7.2%	N/A
Food & Restaurant	-0.5%	-1.6%	+2.5%	N/A
Logistics	+0.1%	+3.0%	+2.5%	N/A
Industrial	-0.4%	+1.5%	+1.8%	N/A
Cybersecurity	-1.4%	+0.2%	-8.8%	N/A
Chip Equipment	-1.5%	+0.3%	-13.5%	N/A
Data Center REITs	+0.0%	-0.8%	+5.9%	N/A
AI Power & Grid	-0.2%	+6.7%	+9.3%	N/A
Utilities	-0.8%	+0.5%	+3.7%	N/A
Energy	+0.4%	+3.2%	-0.1%	N/A
Defense & Aerospace	-0.4%	-0.5%	+2.1%	N/A
Telecom	-1.2%	-0.7%	+6.4%	N/A
Media & Entertainment	-0.8%	+2.7%	+1.1%	N/A
Biotech	+0.5%	+1.3%	+6.6%	N/A
Materials	-1.1%	+1.3%	+2.9%	N/A
Analog & Embedded Chips	-0.8%	+1.1%	-5.8%	N/A

Sector Strength

AI Networking & Interconnect +1.0% 20d: N/A

Coherent (COHR) +3.9%, Arista Networks (ANET) +0.2%, Amphenol (APH) -1.1%

Airlines +0.6% 20d: +21.4%

United (UAL) +0.6% (20d: +26.1%), Delta (DAL) +0.5% (20d: +16.8%)

Biotech +0.5% 20d: +6.6%

Gilead (GILD) +1.0% (20d: +12.7%), Amgen (AMGN) +0.0% (20d: +0.6%)

Hospitality & Travel +0.5% 20d: +7.2%

Marriott (MAR) +1.3% (20d: +6.3%), Booking (BKNG) -0.3% (20d: +8.0%)

Energy +0.4% 20d: -0.1%

Chevron (CVX) +0.4% (20d: -0.9%), Exxon Mobil (XOM) +0.4% (20d: +0.6%)

Sector Warnings

Memory & Storage -1.6% 20d: -7.9%

Western Digital (WDC) -2.2% (20d: -0.9%), Micron (MU) -1.6% (20d: -19.4%), Seagate (STX) -1.1% (20d: -3.4%)

Chip Equipment -1.5% 20d: -13.5% CRITICAL

ASML Holding (ASML) -2.2% (20d: -16.5%), Lam Research (LRCX) -1.3% (20d: -13.2%), Applied Materials (AMAT) -1.3% (20d: -10.8%)

Cybersecurity -1.4% 20d: -8.8%

Palo Alto Networks (PANW) -2.4% (20d: -8.3%), Zscaler (ZS) -1.1% (20d: -15.9%), CrowdStrike (CRWD) -0.6% (20d: -2.2%)

Chip Supply Chain -1.2% 20d: -2.7%

Intel (INTC) -3.3% (20d: -3.0%), Advanced Micro Devices (AMD) -1.7% (20d: -6.0%), Marvell (MRVL) -1.7% (20d: +0.3%)

Telecom -1.2% 20d: +6.4%

T-Mobile (TMUS) -3.0% (20d: +1.0%), Verizon (VZ) -0.5% (20d: +6.9%), AT&T (T) -0.2% (20d: +11.2%)

Sector Deep Dive

Chip Equipment: The chip equipment sector is under active pressure with ASML falling 2.2% to $775.86 and the group down 13.5% over 20 days, triggering a high-severity alert. Over the 50-day window the sector is classified as BELOW the 50-day reference in our breadth read, and today's drop reinforced a negative 20-day momentum signal as investors reassess capital spending cadence across fabs.

Cybersecurity: Cybersecurity stocks showed meaningful weakness; Palo Alto Networks (PANW) dropped 2.4% to $164.88 while the sector average declined 1.4% today and is down 8.8% over 20 days. The 50-day context is BELOW for the group, and this underperformance has pushed Cybersecurity into the list of three sectors declining more than 5% over 20 days, suggesting investors are trimming higher multiple, near-term growth-exposed names.

Hospitality & Travel: Hospitality & Travel provided a bright spot as Marriott (MAR) rose 1.3% to $234.98 and the sector posted a 0.5% gain, +6.3% over five days and +21.4% over 20 days. The sector is ABOVE its 50-day benchmark, reflecting strong consumer resilience and positive 20-day momentum that contrasts with the more volatile technology capex trade.

Biotech: Biotech traded higher with Gilead (GILD) up 1.0% to $79.95 and the sector showing a modest 0.5% gain today and +6.9% over 20 days. The sector sits ABOVE the 50-day reference, and its relative stability amid broader tech weakness underscores defensive rotation into earnings-driven healthcare names.

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 -13.5% over 20 days

HIGH 4 sectors declining >5% over 20 days: Memory & Storage, Cybersecurity, Chip Equipment, Analog & Embedded Chips

Stock-Level Detail

Mag 7 (AI Spenders) Show individual tickers

Ticker	Price	1D	5D	20D	50D	vs 50MA	Down Days
AAPL	$218.86	+1.8%	-0.9%	-2.5%	N/A	N/A	0
GOOG	$159.80	+0.3%	+3.4%	-3.9%	N/A	N/A	0
META	$534.87	+0.3%	+2.4%	+0.6%	N/A	N/A	0
AMZN	$186.43	-0.2%	-0.3%	+3.5%	N/A	N/A	1
TSLA	$227.20	-0.3%	-1.1%	+1.8%	N/A	N/A	1
MSFT	$424.11	-1.0%	+0.9%	+1.6%	N/A	N/A	1
NVDA	$113.19	-1.9%	-4.8%	-11.8%	N/A	N/A	4

Chip Supply Chain Show individual tickers

Ticker	Price	1D	5D	20D	50D	vs 50MA	Down Days
TSM	$163.69	-0.0%	-2.4%	-2.1%	N/A	N/A	3
QCOM	$162.12	-0.2%	+2.0%	-2.9%	N/A	N/A	1
AVGO	$158.69	-0.5%	-1.8%	-2.5%	N/A	N/A	3
MRVL	$71.16	-1.7%	-3.7%	+0.3%	N/A	N/A	3
AMD	$148.29	-1.7%	-1.6%	-6.0%	N/A	N/A	3
INTC	$20.77	-3.3%	+7.3%	-3.0%	N/A	N/A	1

Memory & Storage Show individual tickers

Ticker	Price	1D	5D	20D	50D	vs 50MA	Down Days
STX	$97.38	-1.1%	+0.3%	-3.4%	N/A	N/A	1
MU	$86.80	-1.6%	+0.2%	-19.4%	N/A	N/A	1
WDC	$48.47	-2.2%	+1.8%	-0.9%	N/A	N/A	1

EDA & Semiconductor IP Show individual tickers

Ticker	Price	1D	5D	20D	50D	vs 50MA	Down Days
ARM	$138.36	+1.1%	-0.6%	+5.5%	N/A	N/A	0
SNPS	$495.95	-1.3%	+1.4%	N/A	N/A	N/A	1
CDNS	$269.69	-1.9%	-0.1%	N/A	N/A	N/A	1

Infrastructure Show individual tickers

Ticker	Price	1D	5D	20D	50D	vs 50MA	Down Days
HPE	$17.42	+0.5%	+8.5%	-3.1%	N/A	N/A	0
VRT	$87.47	+0.4%	+1.1%	+12.4%	N/A	N/A	0
CSCO	$48.22	-0.1%	+1.9%	+0.2%	N/A	N/A	2
SMCI	$43.69	-0.6%	-1.2%	-30.0%	N/A	N/A	3
DELL	$112.49	-0.7%	+3.4%	+3.8%	N/A	N/A	1

AI Networking & Interconnect Show individual tickers

Ticker	Price	1D	5D	20D	50D	vs 50MA	Down Days
COHR	$80.98	+3.9%	+6.6%	N/A	N/A	N/A	0
ANET	$90.43	+0.2%	+1.8%	N/A	N/A	N/A	0
APH	$62.46	-1.1%	+0.0%	N/A	N/A	N/A	1

Enterprise Software Show individual tickers

Ticker	Price	1D	5D	20D	50D	vs 50MA	Down Days
NOW	$178.08	+0.5%	+0.5%	+6.1%	N/A	N/A	0
PLTR	$36.38	-0.2%	+4.2%	+11.8%	N/A	N/A	1
CRM	$249.24	-0.9%	-0.2%	-3.2%	N/A	N/A	2
ADBE	$508.13	-1.3%	-13.4%	-10.2%	N/A	N/A	4
ORCL	$160.99	-1.8%	+2.0%	N/A	N/A	N/A	2

Finance Show individual tickers

Ticker	Price	1D	5D	20D	50D	vs 50MA	Down Days
GS	$468.01	-0.2%	+2.2%	-1.8%	N/A	N/A	1
JPM	$199.16	-0.8%	+0.5%	-3.3%	N/A	N/A	1

Healthcare Show individual tickers

Ticker	Price	1D	5D	20D	50D	vs 50MA	Down Days
UNH	$556.99	+0.5%	-1.0%	+0.8%	N/A	N/A	0
LLY	$892.47	-0.1%	-3.2%	-4.9%	N/A	N/A	4

Retail Show individual tickers

Ticker	Price	1D	5D	20D	50D	vs 50MA	Down Days
WMT	$77.61	+0.5%	-0.8%	+4.8%	N/A	N/A	0
COST	$882.81	-0.5%	-2.5%	+1.3%	N/A	N/A	3

IT Services Show individual tickers

Ticker	Price	1D	5D	20D	50D	vs 50MA	Down Days
IBM	$203.74	+0.4%	+1.6%	+9.0%	N/A	N/A	0
ACN	$323.44	-0.3%	-3.9%	+0.8%	N/A	N/A	2

Airlines Show individual tickers

Ticker	Price	1D	5D	20D	50D	vs 50MA	Down Days
UAL	$52.96	+0.6%	+6.7%	+26.1%	N/A	N/A	0
DAL	$45.87	+0.5%	+6.0%	+16.8%	N/A	N/A	0

Hospitality & Travel Show individual tickers

Ticker	Price	1D	5D	20D	50D	vs 50MA	Down Days
MAR	$234.51	+1.3%	+3.5%	+6.3%	N/A	N/A	0
BKNG	$158.92	-0.3%	+4.1%	+8.0%	N/A	N/A	1

Food & Restaurant Show individual tickers

Ticker	Price	1D	5D	20D	50D	vs 50MA	Down Days
SBUX	$91.40	-0.3%	-3.2%	+3.6%	N/A	N/A	1
MCD	$280.19	-0.6%	-0.1%	+1.4%	N/A	N/A	2

Logistics Show individual tickers

Ticker	Price	1D	5D	20D	50D	vs 50MA	Down Days
FDX	$231.75	+0.3%	+4.3%	+2.8%	N/A	N/A	0
UPS	$115.29	+0.0%	+1.7%	+2.2%	N/A	N/A	0

Industrial Show individual tickers

Ticker	Price	1D	5D	20D	50D	vs 50MA	Down Days
CAT	$346.47	+0.4%	+4.6%	+3.5%	N/A	N/A	0
HON	$191.51	-1.3%	-1.5%	+0.1%	N/A	N/A	2

Cybersecurity Show individual tickers

Ticker	Price	1D	5D	20D	50D	vs 50MA	Down Days
CRWD	$66.78	-0.6%	+3.9%	-2.2%	N/A	N/A	1
ZS	$168.52	-1.1%	+1.1%	-15.9%	N/A	N/A	2
PANW	$164.88	-2.4%	-4.5%	-8.3%	N/A	N/A	3

Chip Equipment Show individual tickers

Ticker	Price	1D	5D	20D	50D	vs 50MA	Down Days
KLAC	$72.02	-1.2%	-0.3%	N/A	N/A	N/A	1
AMAT	$183.21	-1.3%	+1.6%	-10.8%	N/A	N/A	1
LRCX	$74.53	-1.3%	+1.4%	-13.2%	N/A	N/A	1
ASML	$774.85	-2.2%	-1.5%	-16.5%	N/A	N/A	1

Data Center REITs Show individual tickers

Ticker	Price	1D	5D	20D	50D	vs 50MA	Down Days
DLR	$150.48	+0.4%	-0.6%	+6.5%	N/A	N/A	0
EQIX	$825.09	-0.4%	-0.9%	+5.3%	N/A	N/A	2

AI Power & Grid Show individual tickers

Ticker	Price	1D	5D	20D	50D	vs 50MA	Down Days
ETN	$307.21	+0.9%	+3.7%	+5.0%	N/A	N/A	0
VST	$90.08	+0.0%	+13.3%	+10.8%	N/A	N/A	0
CEG	$198.02	-0.4%	+5.5%	+1.8%	N/A	N/A	1
GEV	$234.68	-0.6%	+9.5%	+27.9%	N/A	N/A	1
PWR	$271.49	-0.7%	+1.3%	+1.0%	N/A	N/A	1

Utilities Show individual tickers

Ticker	Price	1D	5D	20D	50D	vs 50MA	Down Days
SO	$83.37	-0.7%	+0.6%	+1.6%	N/A	N/A	2
DUK	$107.95	-0.7%	-0.1%	+2.8%	N/A	N/A	2
NEE	$80.05	-0.8%	+1.0%	+6.5%	N/A	N/A	1

Energy Show individual tickers

Ticker	Price	1D	5D	20D	50D	vs 50MA	Down Days
CVX	$132.49	+0.4%	+3.4%	-0.9%	N/A	N/A	0
XOM	$107.47	+0.4%	+3.0%	+0.6%	N/A	N/A	0

Defense & Aerospace Show individual tickers

Ticker	Price	1D	5D	20D	50D	vs 50MA	Down Days
LMT	$539.48	-0.3%	-0.5%	+2.7%	N/A	N/A	2
GD	$291.03	-0.5%	+0.6%	+2.8%	N/A	N/A	2
RTX	$114.03	-0.6%	-1.7%	+0.7%	N/A	N/A	2

Telecom Show individual tickers

Ticker	Price	1D	5D	20D	50D	vs 50MA	Down Days
T	$19.82	-0.2%	+0.6%	+11.2%	N/A	N/A	2
VZ	$38.49	-0.5%	+0.0%	+6.9%	N/A	N/A	2
TMUS	$191.00	-3.0%	-2.8%	+1.0%	N/A	N/A	2

Media & Entertainment Show individual tickers

Ticker	Price	1D	5D	20D	50D	vs 50MA	Down Days
DIS	$91.45	+0.8%	+4.8%	+3.2%	N/A	N/A	0
NFLX	$69.05	-2.3%	+0.5%	-1.0%	N/A	N/A	1

Biotech Show individual tickers

Ticker	Price	1D	5D	20D	50D	vs 50MA	Down Days
GILD	$79.95	+1.0%	+1.8%	+12.7%	N/A	N/A	0
AMGN	$313.45	+0.0%	+0.9%	+0.6%	N/A	N/A	0

Materials Show individual tickers

Ticker	Price	1D	5D	20D	50D	vs 50MA	Down Days
LIN	$456.45	-1.0%	-0.1%	+1.4%	N/A	N/A	2
APD	$273.06	-1.3%	+2.6%	+4.3%	N/A	N/A	1

Analog & Embedded Chips Show individual tickers

Ticker	Price	1D	5D	20D	50D	vs 50MA	Down Days
TXN	$189.93	-0.3%	+2.4%	-3.7%	N/A	N/A	1
MCHP	$72.29	-0.8%	+0.4%	-7.8%	N/A	N/A	1
ADI	$216.83	-1.2%	+0.5%	N/A	N/A	N/A	1

Key Stock Movers

Today's biggest movers by absolute percentage change: Coherent (COHR) (AI Networking & Interconnect) rose 3.9% to $80.98. Intel (INTC) (Chip Supply Chain) fell 3.3% to $20.77. T-Mobile (TMUS) (Telecom) fell 3.0% to $191.00. Palo Alto Networks (PANW) (Cybersecurity) fell 2.4% to $164.88. Netflix (NFLX) (Media & Entertainment) fell 2.3% to $69.05. These individual stock movements were key drivers of their respective sector performance.

Risk and Opportunity Assessment

On the risk side, 2 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

Watchlist conditions are tilted toward caution: there are two high alerts (chip equipment severe drawdown and three sectors down >5% over 20 days) while 17 sectors remain above their 50-day reference versus 7 below, leaving breadth mixed but biased toward resilience. Given the 50-day trend divergence — strong consumer and biotech pockets versus weak capital-goods and cybersecurity groups — positioning should favor quality cyclicals and infrastructure exposures while trimming high-duration tech names that are failing 50-day support. Monitor earnings and capex commentary for any shift in the chip equipment and chip supply chain narratives before increasing risk allocation.

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