Tuesday, October 4, 2022

SPX Rally Broadens on Day 2...Energy, Financial, Materials Lead All Sectors Higher...NCLH, RCL, CCL Cruise Lines Lead SPX...


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The SPX +112.50 opened higher, moved higher, closed higher, rising +205 points in two days.  SPY, QQQ and IWM each broke out of last week’s high for a breakout trigger.

JOLTS report came in below expectations and the market rallies.  Bad news is good again today.

/CL and GLD closed higher, while DXY, TLT and TNX moved lower.


SPY up 11.36 at 377.97, on 103.5 million shares, above average volume, up on higher volume.  Advancing capital increased 40% above Monday’s level.
VIX down 1.03 at 29.07
QQQ up 8.60 at 282.13

BA, CRM, GS, CAT led the DJIA, 30 advancers, +1
TWTR, NCLH, RCL, CCL led the SPX, 494 advancers
ILMN, LCID, TEAM, ASML led the NDX 100 advancers

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

Up:  IWM, QQQ, SPY, DIA,
Down:

All sectors were higher on Tuesday, led by of XLE, XLF and XLB.

Energy leadersMRO, APA, DVN, FANG
Financial leaders:  FCX, NUE, EMN, SHW
Materials leadersLRCX, AMAT, TER, INTC

Advancers strengthened on Tuesday as advancers led 2,837 to 451 on the NYSE and led 3,722 to 1,064 on the NASDAQ.

The SPY MFC green line is pointed up at 13.1 and is short-term bullishSPY opened higher and closed higher.


Sectors shift up on Tuesday:
Uptrend sectors:  XLE, XLY,
Neutral sectors:  XLF, XLI, XLB,
Down trend sectors:  XLU, XLK, XLV, XLP, XLRE, XLC,

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

3-month Intermediate Term Market Trend: Sideways
3-day Short Term Market TrendUp


100 of 100 NDX stocks closed higher on Tuesday

29 NDX stock are above their 30 DMA:   REGN, BIIB, NFLX, VRTX, FTNT, MNST, ORLY, ZS, ADI, CDNS, CTAS, DLTR, DXCM, GILD, IDXX, ILMN, LCID, MCHP, MELI, MRVL, ODFL, PCAR, PDD, PYPL, ROST, SBUX, TMUS, VRSN, WDAY,

NDX Stocks to Watch on Wednesday:
Moving Above 30 DMA = 21ADI, CDNS, CTAS, DLTR, DXCM, GILD, IDXX, ILMN, LCID, MCHP, MELI, MRVL, ODFL, PCAR, PDD, PYPL, ROST, SBUX, TMUS, VRSN, WDAY,

Moving Below 30 DMA = 0




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Monday, October 3, 2022

Broad SPX Rally Higher Open, Higher Close Above Support...Energy, Materials, Technology Lead all Sectors Higher...Oil, Gold, Bonds Rise...


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The SPX +92.81 opened higher, moved higher, closed higher, reversing Friday’s selloff.  As mentioned in our live mentoring Friday afternoon we identified some of the breadth variables indicated the potential that Friday’s selloff was an end of week, month and quarter unwinding.  SPY, QQQ and IWM each bounced back above support.

ISM Index below expectations and market rallies.  Bad news is good today.

/CL, GLD and TLT closed higher, while DXY and TNX moved lower.


SPY up 9.43 at 366.61, on 89.7 million shares, above average volume, up on lower volume. 
VIX down 1.52 at 30.10
QQQ up 6.27 at 273.53

CVX, INTC, CAT, BA led the DJIA, 29 advancers, -2
MRO, APA, DVN, FANG led the SPX, 483 advancers
REGN, MELI, LRCX, CHTR led the NDX 94 advancers

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

Up:  IWM, SPY, DIA, QQQ,
Down:

All sectors were higher on Monday, led by of XLE, XLB and XLK.

Energy leadersMRO, APA, DVN, FANG
Materials leaders:  FCX, NUE, EMN, SHW
Technology leadersLRCX, AMAT, TER, INTC

Advancers strengthened on Monday as advancers led 2,761 to 571 on the NYSE and led 3,480 to 1,251 on the NASDAQ.

The SPY MFC green line turned up at 7.1 and is short-term bullishSPY opened higher and closed higher.


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


94 of 100 NDX stocks closed higher on Monday

8 NDX stock are above their 30 DMA:   REGN, BIIB, NFLX, VRTX, FTNT, MNST, ORLY, ZS,

NDX Stocks to Watch on Tuesday:
Moving Above 30 DMA = 4
FTNT, MNST, ORLY, ZS,


Moving Below 30 DMA = 0




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Friday, September 30, 2022

SPX Lower Open, Lower Close After Early Rally Fails...SPY, QQQ, Close Below June Support Low...Real Estate Gains as Ten Sectors Close Lower...


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The SPX -54.85 opened lower, rallied for the first two hours of trading, then rolled over and closed lower continuing Thursday’s selloff.  SPY, QQQ and DIA each closed below support. 

TNX and GLD closed higher, while DXY, /CL and TLT moved lower.


SPY down 5.61 at 357.18, on 153.7 million shares, above average volume, down on higher volume.
VIX down .22 at 31.62
QQQ down 4.61 at 267.21

WBA led the DJIA, 0 advancers, -2
CRL, WY, EFX, TWTR led the SPX, 81 advancers
PDD, DDOG, BIIB, SGEN led the NDX 10 advancers

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

Up:
DownIWM, SPY, DIA, QQQ,


One sector was higher, and ten sectors were lower on Friday, led by of XLRE, XLB and XLE.

Real Estate leaders:  WY, VTR, DLR EXR
Materials leaders:  NUE, BALL, CE, APD
Energy leadersMPC, CTRA, DINO, FTI

Advancers strengthened on Friday as decliners led 1,813 to 1,380 on the NYSE and led 2,676 to 1,902 on the NASDAQ.

The SPY MFC green line turned down at 4.7 and is short-term bearishSPY opened lower and closed lower.

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


10 of 100 NDX stocks closed higher on Friday

4 NDX stock are above their 30 DMA:   REGN, BIIB, NFLX, VRTX,

NDX Stocks to Watch on Monday:
Moving Above 30 DMA = 0



Moving Below 30 DMA = 2
ORLY, ZS,



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