NDX, RUT, SPX, DJI Close Above the High of the Low Day...Energy, Communication Services, Technology Lead Sectors...

 
 
© 2022
 
SPX, NDX, DJI and RUT opened flat and pulled back after the open and remained in a trading range during Jerome Powell ‘s confirmation hearing.  SPX, NDX, DJI and RUT rallied above the high of Monday’s low candle giving a potential entry trigger for either a bull flag bounce or channel bounce. 
 
The CPI report is Wednesday morning BMO.
 
 
SPX closed at 4,712 + 42.78.
NDX closed at 15,844, + 229.69.
 
 
SPY up 4.24 at 469.75, on 74.3 million shares, below average volume, up on lower volume.   
VIX down .99 at 18.41
QQQ up 5.71, +1.50% at 385.82
 
BA, CVX, CRM, AAPL led the DJIA, 19 advancers, +6
APA, OXY, CRL, LVS, ALB led the SPX, 373 advancers.
ILMN, MELI, JD, LCID led the NDX, 87 advancers.
 
The two-year trend term is up.  The one-year trend is up.
 
Up: QQQ, IWM, SPY, DIA
Down: 
 
Eight of eleven sectors were higher on Tuesday, led by XLE, XLC and XLK.
 
Energy leaders: APA, OXY, HES, HAL
Communication Services leaders: TMUS, ATVI, DISH, TTWO
Technology leaders: PYPL, PTC, AMD, TYL
 
Advancers strengthened on Tuesday as advancers led 2,436 to 872on the NYSE and led 3,175 to 1,363 on the NASDAQ.
 
The SPY MFC green line is pointed down at 59.9 and is defensive.  SPY bounced above the high of the long-tail hammer low day in a bull flag pattern. 
 
 
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: Up a little (1.86)
 
87 of 100 NDX stocks closed higher on Tuesday.
 
45 NDX stocks are above their 30 DMA:  MU, VRTX, CSCO, XEL, PEP, AEP, AMGN, CTSH, WBA, CERN, MNST, MDLZ, INCY, KDP, CHKP, ATVI, BKNG, EXC, FISV, INTC, KLAC, MAR, KHC, PCAR, CMCSA, HON, BIDU, LCID, BIIB, GILD, SPLK, TSLA, AAPL, EA, EBAY, FB, ILMN, JD, MRVL, NTES, NXPI, ORLY, PAYX, PDD, PYPL, QCOM, SIRI, SWKS,
 
NDX Stocks to Watch on Wednesday:
Moving Above 30 DMA = 16
AAPL, EA, EBAY, FB, ILMN, JD, MRVL, NTES, NXPI, ORLY, PAYX, PDD, PYPL, QCOM, SIRI, SWKS,
 
Moving Below 30 DMA = 1
CSX,
 
 
Add Comments here: