© 2022
Today, January 10, is my 45th anniversary in the investment industry. It’s
been a great journey that started with the DJIA closing at 986.87 on my first day in 1977 and rose to a new closing high last week at 36,952.65. Yes, that’s just short of a 36,000-point rise during my career.
Currently, I am in what I consider the fourth
phase of my career providing online real-time mentoring to an amazing group
of self-motivated traders that are working hard each week taking their trading
the next level.
Reports of great rewards in 2021 were common and
now we move to 2022 with the objective to improve even more.
I wish every reader of this blog, whether a client of iBullyBear.com or not, an
amazing and profitable 2022. If you get to the point
you would like to step up your trading to the next level above where you’re
currently at, you can check us out by clicking on the iBullyBear
banner at the top of the blog.
Best of success!
Dave
SPX, NDX, DJI and RUT moved lower this
morning following Friday’s Jobs Report that reported 199K new jobs versus 400K estimate. Each of the indexes formed an intraday reversal
pattern and rallied to the upside Monday afternoon. SPX, DJI and RUT formed a long-tail hammer, while NDX formed a long-tail white
candle.
Jerome Powell has his FOMC Chairman confirmation
hearing on Tuesday and the CPI report is Wednesday morning BMO.
SPX closed at 4,670 -6.74.
NDX closed at 15,614, + 22.24.
SPY down .58 at 465.51, on 119.2 million shares, above average volume, down on higher volume.
VIX up .64 at 19.40
QQQ up .25, +0.07% at 380.11
INTC, MRK, UNH, AMGN led the DJIA, 13 advancers, -7
HUM, HOLX, BMY, SWN led the SPX, 183 advancers.
MRNA, ZS, FTNT, SPLK led the NDX, 51 advancers.
The two-year trend term is up. The one-year trend is up.
Up: QQQ,
Down: SPY, IWM, DIA,
Two of
eleven
sectors were higher on Monday, led by XLV,
XLK and XLE.
Health Care leaders: MRNA, HUM, HOLX, BMY
Technology leaders: INTC, FTNT, STX, ADBE
Energy leaders: SWN,
PSX, HFC, KMI
Advancers weakened on Monday as decliners led 2,113 to 1,193
on the NYSE and led 3,072 to 1,544
on the NASDAQ.
The SPY MFC green line
is pointed down at 64.9 and is defensive. SPY formed a long-tail white body
hammer in a bull flag pattern which closed at the 50% Fib level just below the
30 DMA.
Uptrend sectors: XLE, XLF, XLP, XLU, XLI, XLB, XLRE, XLV,
XLK, XLY,
Neutral sectors:
Down trend sectors: XLC,
The 6-month intermediate trend is up. The
ten-day trend is up.
3-month Intermediate Term Market Trend: Up
3-day Short Term Market Trend: Down a little (2.87)
51 of 100 NDX stocks
closed higher on Monday.
30 NDX stocks are above their 30 DMA: MU, VRTX, CSCO, XEL,
PEP, AEP, AMGN, CTSH, WBA, CERN, MNST, MDLZ, INCY, KDP, CHKP, ATVI,
BKNG, CSX, EXC, FISV, INTC, KLAC, MAR, KHC, PCAR, CMCSA, HON, BIDU, LCID, BIIB,
GILD, SPLK, TSLA,
NDX Stocks to Watch on Tuesday:
Moving Above 30 DMA = 4
BIIB, GILD, SPLK, TSLA,
Moving Below 30 DMA = 7
ADP, DLTR, EA, EBAY, FB, ORLY,
PAYX,
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4 comments:
Hi Dave, Happy New Year, and happy 45th Anniversary - wishing you good trading in 2022 and many more successful years of being an amazing teacher and a wonderful human being.
Robert, Happy New Year to you also. Thank you for the kind comments. Best of success...Dave
Dave, Congratulations !! I’m so proud to have you as my mentor…. Lessons in how to be a better human are a nice bonus. You truly really do care, Dave. It shows across all you do.
Hey Dave, Congrats on 45 years!! Thanks for all you do and all you have helped me with. I worked at Investools, selling the education, in 2010, and I've been hooked on technical analysis ever since!! I currently have a job that basically allows me to trade throughout the day as needed, and I can keep an eye on charts all the time (I do quality assurance reviews for a brokerage/bank) but anyway, my entire approach and trading philosophy is based on what I've learned from your teaching/mentoring and watching your trading rooms and blog. Yor really have been a mentor to me!! I hope to join your live mentoring at some point, hopefully this year! But anyway, thanks for everything!!
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