SPY, DIA Form Bullish Harami at Support...Utilities, Staples Health Care Lead Sectors as Tech, Materials Lag...

 
© 2021
 
/ES futures moved higher overnight and closed higher Wednesday afternoon.  SPY, DIA closed higher while QQQ and IWM closed lower. 
 
SPX closed below 4,400 and NDX closed at 14,752.
 
SPY up .73, at 433.72, on 82.3 million shares, above average volume, up on lower volume.  
VIX down .69 at 22.56
QQQ down .59, -0.16% at 359.28
 
BA, MRK, WBA, IBM led the DJIA, 18 advancers, +16
LLY, TSN, COG, SRE led the SPX, 293 advancers.
DLTR, EA, NFLX, KHC led the NDX, 46 advancers. 
 
The two-year trend term is up.  The one-year trend is up.
 
Up: DIA, SPY,
Down: QQQ, IWM,
 
SPY = MACD setup at short-term support
DIA = channel bounce setup with bullish harami
QQQ = MACD setup just below short-term support
IWM = channel bounce down continuation at mid-channel
 
Seven of eleven sectors were higher, and one was unchanged, XLE, on Wednesday, led by XLU, XLP and XLV.
 
Utilities leaders: SRE, ATO, XEL, ED
Consumer Staples leaders: TSN, CAG, KHC, GIS
Health Care leaders: LLY, MRK, DXCM, HOLX
 
Advancers strengthened on Wednesday as advancers led 1,952 to 1,365 on the NYSE and decliners led 2,549 to 1,906 on the NASDAQ.
 
The SPY MFC green line turned down at 42.5 and is short-term bearish.  SPY is a MACD divergence setup at short-term support with a bullish harami. 
 
 
Uptrend sectors:  XLY, XLF, XLK, XLC, XLP, XLU, XLV,
Neutral sectors:  XLRE, XLI, XLB,
Down trend sectors: XLE,
 
The 6-month intermediate trend is up.  The ten-day trend is down.
 
3-month Intermediate Term Market Trend: Up
3-day Short Term Market Trend: Down
 
46 of 100 NDX stocks closed higher on Wednesday.
 
15 NDX stocks are above their 30 DMA:  TEAM, VRSK, NFLX, TSLA, BKNG, MTCH, TXN, MAR, ORLY, FOXA, SGEN, TCOM, KHC, DLTR, DXCM,
 
NDX Stocks to Watch on Thursday:
Moving Above 30 DMA = 2
DLTR, DXCM,
 
Moving Below 30 DMA = 6
ADI, INTC, KLAC, LULU, MCHP, MU,
 

 
Add Comments here: