SPX Breaks Short-term Support in Late Selloff Ahead of CPI Report...All Sectors Lower...

© 2022

The SPX -97.95 opened lower, closed lower and broke short-term support during the last 60 minutes of trading.  TNX 30.44 stayed above 3%. 

The broad market SPY broke the eight-day support of its horizontal bull flag in the final hour of trading as selling increases during the last hour of trading ahead of the CPI report Friday morning at 8:30 am ET.

VICI replaced CERN in the SP 500 yesterday, Wednesday June 8

FB changed symbol to META today, Thursday, June 9.

CPI report Friday BMO June 10.

FOMC meeting June 14 – 15.

SPY down 9.78 at 401.44, on 86.2 million shares, below average volume, down on higher volume.

VIX up 2.13 at 26.09

QQQ down 8.24 at 299.40

HD, led the DJIA, 1 advancers, -3

POOL, DG, TSCO, MHK led the SPX, 25 advancers

NXPI, FTNT, COST, SBUX led the NDX, 4 advancers

The two-year trend term is up.  The one-year trend down a little.

Up: 

Down: DIA, IWM, SPY, QQQ,

All eleven sectors were lower on Thursday, led by XLP, XLY and XLI.

Consumer Staples leaders:  COST

Consumer Discretionary leaders:  POOL, DG, TSCO, MHK

Industrials leaders: MAS, PWR, FBHS, FDX 

Advancers weakened on Thursday as decliners led 2,767 to 554 on the NYSE and led 3,547 led to 1,143 on the NASDAQ.

The SPY MFC green line is turned down at 54.8 and is short-term defensive.  SPY broke below support in its horizontal bull flag.

Uptrend sectors:  XLE, XLU, XLB,

Neutral sectors:  XLP, XLV,

Down trend sectors: XLI, XLK, XLF, XLRE, XLY, XLC,

The 6-month intermediate trend is down.  The ten-day trend is up a little.

3-month Intermediate Term Market Trend: Down

3-day Short Term Market Trend: Down

4 of 100 NDX stocks closed higher on Thursday.

40 NDX stocks are above their 30 DMA:   MNST, EA, NTES, ADI, SNPS, TMUS, AMD, CHTR, CMCSA, KLAC, LRCX, SGEN, ZM, ADBE, BIDU, BKNG, CDNS, DLTR, FTNT, LCID, PDD, CTAS, DOCU, INTU, JD, MTCH, PCAR, SBUX, NFLX, GOOGL, ORLY, PYPL, VRSN, CRWD, PANW, BIIB, DDOG, TEAM, ZS, NXPI,

NDX Stocks to Watch on Friday:
Moving Above 30 DMA = 1

NXPI,  

Moving Below 30 DMA = 25

ADP, ADSK, AMAT, AMGN, AMZN, ASML, CPRT, EXC, FAST, FISV, HON, LULU, MAR, MCHP, META, MRNA, MRVL, MSFT, NVDA, OKTA, PAYX, QCOM, SIRI, SPLK, VRTX,

Add Comments here: