Friday, May 20, 2022

SPX Rallies 90 Points from Low after Bullard Comments on Recession...PANW Leads NDX...Health Care Leads Sectors

 © 2022


On Friday, the SPX fell 130 points to 3,810, and began to rally after 1:30 pm ET as St. Louis Fed President James Bullard expected 2022 growth to lower than last year but above trend rate, better in the second half of the year than the first half, in the 2 ½ to 3% for the year, sees no recession this year and unemployment will likely move down further.  After Bullard’s comments the SPX rallied 90 points to close at 3,901.

PANW +42.31, +9.70, after better-than-expected earnings led the SPX followed by CRWD, FTNT and ZS.

SPY up .17 at 389.63, on 131.4 million shares, above average volume, up slightly on higher volume.

VIX up .08 at 29.35
QQQ down .90 at 288.68

CSCO, CRM, MCD, JNJ led the DJIA, 16 advancers, +10

VFC, AMT, LLY, MKTX led the SPX, 288 advancers
PANW, CRWD, FTNT, ZS led the NDX, 62 advancers
 

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

UpSPY,

Down:  DIA, IWM, QQQ,

Seven of eleven sectors were higher on Friday, led by XLV, XLRE and XLE the weakest.

Health Care leaders:  LLY, PFE, BIIB, CNC

Real Estate leaders:  AMT, DLR, CCI, EQIX,
Energy leaders: SWN, APA, HAL

Advancers weakened on Friday as decliners led 1,736 to 1,535 on the NYSE and led 2,517 led to 2,125 on the NASDAQ.

The SPY MFC green line is pointed down at 16.2 and is short-term bearishSPY traded below short-term support, rallied after Bullard made positive recession comments in a financial TV interview, closed higher for the day and formed a hammer at support.


Uptrend sectors:  XLE, XLU,
Neutral sectors:  XLP, XLV, XLB,
Down trend sectors: XLRE, XLY, XLI, XLK, XLF, XLC,

The 6-month intermediate trend is down.  The ten-day trend is down.

3-month Intermediate Term Market Trend: Down

3-day Short Term Market TrendDown

62 of 100 NDX stocks closed higher on Friday.

15 NDX stocks are above their 30 DMA:   MNST, GILD, AMD, EA, NTES, NXPI, XEL, SGEN, ADI, KLAC, BIDU, PDD, SNPS, AMGN, LRCX,

NDX Stocks to Watch on Monday:

Moving Above 30 DMA = 2
AMGN, LRCX,

Moving Below 30 DMA = 1

LCID,  


Add Comments here:

Thursday, May 19, 2022

SPY, DIA, QQQ, IWM Trading Range as Volatility Pauses...Materials, Health Care, Discretionary Lead Sectors...PANW Up After-hours...

 
© 2022
 
 
The SPX fell -22 points Thursday, the day after a 165-point drop on Wednesday.  Broad indexes found balance between buyers and sellers in a choppy, volatile trading range.  Today, SPY, QQQ and IWM formed an inverted hammer and a higher low than last Thursday.  Bounce or break?
 
After hours earningsPANW up, ROST, AMAT down.


SPY down 2.40 at 389.46, on 98.5 million shares, average volume, down on lower volume.
VIX down 1.61 at 29.35
QQQ down 1.56 at 289.58
 
UNH, BA, HD, GS led the DJIA, 6 advancers, +6
SNPS, MKTX, GNRC, ENPH led the SPX, 218 advancers
LCID, DDOG, PDD, TEAM led the NDX, 64 advancers

 
The two-year trend term is up.  The one-year trend down a little.
 
Up:  IWM,
Down:  QQQ, SPY, DIA,
 
Three of eleven sectors were higher on Thursday, led by XLB, XLV and XLY the weakest.
 
Materials leaders:  FCX, NEM, CTVA, PPG
Health Care leaders:  BIO, CRL, HUM, WST
Consumer Discretionary leaders: EXPE, AZO, BKNG, DPZ
 
Advancers strengthened on Thursday as advancers led 1,775 to 1,573 on the NYSE and led 2,647 led to 2,023 on the NASDAQ.


The SPY MFC green line is turned down at 18.1 and is short-term bearish.  SPY traded in a range near short-term support.
 
Uptrend sectors:  XLE, XLU,
Neutral sectors:  XLP, XLV, XLB,
Down trend sectors: XLRE, XLY, XLI, XLK, XLF, XLC,

 
The 6-month intermediate trend is down.  The ten-day trend is down.
 
3-month Intermediate Term Market Trend: Down
3-day Short Term Market TrendDown
 
64 of 100 NDX stocks closed higher on Thursday.
 
15 NDX stocks are above their 30 DMA:   MNST, GILD, AMD, EA, NTES, NXPI, XEL, AMGN, SGEN, ADI, KLAC, BIDU, LCID, PDD, SNPS,
 
NDX Stocks to Watch on Friday:
Moving Above 30 DMA = 4
BIDU, LCID, PDD, SNPS,
 
Moving Below 30 DMA = 3
HON, LRCX, MU,
 
 
Add Comments here:

Wednesday, May 18, 2022

SPX 165 point Selloff after 80 point Rally on Tuesday...All Sectors and Dow Stocks Mover Lower...TGT Gaps Down on Earning's Miss...

 
© 2022


The SPX fell -165 points Wednesday, the day after an 80-point rally following Fed Chair Powell’s interview with the “WSJ Future of Everything Festival” Tuesday afternoon.  Wednesday’s selloff was triggered after an earning’s miss by TGT which fell -24.93%.  All sectors moved significantly lower, all 30 Dow were down, only two NDX stocks and eight SPX stocks move higher.

SPY down 16.46 at 391.86, on 117.6 million shares, above average volume, down on higher volume.

VIX up 4.86 at 30.96
QQQ down 15.03 at 291.14

VZ, AMGN, MRK led the DJIA, 0 advancers, -24

TJX, AIZ, NRG, PGR led the SPX, 8 advancers
EA, GILD led the NDX, 2 advancers

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


Up
Down:  IWM, DIA, SPY, QQQ,

All eleven sectors fell between -0.97% to -6.54% on Wednesday, with XLK, XLP and XLY the weakest.

Advancers weakened on Wednesday as decliners led 2,775 to 547 on the NYSE and led 3,713 led to 972on the NASDAQ.

The SPY MFC green line is pointed up at 18.7 and is short-term bullishSPY reversed Tuesday’s rally and the SPX dropped 165 points after rising 80 points on Tuesday.

Uptrend sectors:  XLE, XLU,

Neutral sectors:  XLP, XLV, XLB,
Down trend sectors: XLRE, XLY, XLI, XLK, XLF, XLC,

The 6-month intermediate trend is down.  The ten-day trend is down.

3-month Intermediate Term Market Trend: Down

3-day Short Term Market TrendDown

of 100 NDX stocks closed higher on Wednesday.

14 NDX stocks are above their 30 DMA:   MNST, GILD, HON, AMD, EA, LRCX, NTES, NXPI, XEL, AMGN, SGEN, ADI, KLAC, MU,

NDX Stocks to Watch on Thursday:

Moving Above 30 DMA = 0

Moving Below 30 DMA = 15

ADSK, AEP, AMAT, ATVI, AVGO, BIDU, KHC, MCHP, MDLZ, PCAR, PDD, PEP, QCOM, TXN, WBA,


Add Comments here: