Monday Trading Range Ends with IWM, QQQ Higher...Energy, Industrials, Discretionary Lead Sectors...

 
 
© 2022
 
 
After a very strong two-day rally on Thursday and Friday, markets paused in a trading range on Monday as RUS / UKR invasion continued, and western nations continued to roll out sanctions against Russia.  IWM, QQQ opened lower and closed slightly higher while SPY, DIA opened lower and closed higher than their open but slightly lower than Friday’s close.
 
 
SPY down 1.12 at 436.63, on 145.6 million shares, above average volume, down on higher volume.
VIX up 2.56 at 30..15
QQQ up 1.03 at 346.80
 
 
CVX, BA, CRM, HON led the DJIA, 10 advancers, -20
SEDG, OXY, ENPH, LHX led the SPX, 137 advancers.
LCID, ZS, TSLA, CRWD, FTNT led the NDX, 46 advancers.
 
The two-year trend term is up.  The one-year trend is up.
 
Up: IWM, QQQ,
Down: SPY, DIA,
 
Four of eleven sectors were higher on Monday, led by XLE, XLI and XLY. 
 
Energy leaders: OXY, DVN, EOG, APA
Industrials leaders:  LHX, NOC, LMT, LDOS, RTX
Consumer Discretionary leaders: TSLA, ETSY, PENN, PHM
 
Advancers weakened on Monday as decliners led 1,800 to 1,562 on the NYSE and led 2,467 to 2,298 on the NASDAQ.
 
The SPY MFC green line is turned up at 26.4 and is bullish.  SPY paused on Monday closing slightly lower. 
 
 
Uptrend sectors:  XLE, XLP,
Neutral sectors: XLF, XLU, XLB, XLV, XLRE, XLK,
Down trend sectors: XLY, XLI, XLC,
 
The 6-month intermediate trend is up.  The ten-day trend is down a little.
 
3-month Intermediate Term Market Trend: Down
3-day Short Term Market Trend: Up
 
46 of 100 NDX stocks closed higher on Monday.
 
31 NDX stocks are above their 30 DMA:  ATVI, EXC, TMUS, DDOG, MAR, DLTR, KHC, AZN, ALGN, AVGO, CDNS, COST, CRWD, FTNT, ISRG, MU, PANW, SNPS, AEP, AMD, AMGN, AMZN, CHTR, IDXX, KDP, MELI, ODFL, REGN, ASML, NVDA, PAYX,
 
NDX Stocks to Watch on Tuesday:
Moving Above 30 DMA = 3
ASML, NVDA, PAYX,
 
 
Moving Below 30 DMA = 4
ADI, CTSH, NTES, SPLK,
 
 
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DJI, SPX, RUT, NDX Rally Day Two...

 
© 2022
 
 
DJI, SPX, RUT and NDX, closed higher on strong buying volume for the second day.  SPX, NDX and RUT closed higher than their respective closes on Thursday, February 17.  This two-day rally was larger than the prior three-day selloff.  Once again showing that those who say, “the market always falls faster than it goes up,” aren’t paying attention to periodic asymmetries to the upside.  Breadth increased again on Friday.

SQ +26.14%, ETSY +16.21% gap higher Friday on strong earnings reports after the close on Thursday. 
 
 
SPY up 9.45 at 437.75, on 121.8 million shares, below average volume, up on lower volume.
VIX down 2.73 at 27.59
QQQ up 5.28 at 345.77
 
 
JNJ, MMM, UNH, PG led the DJIA, 30 advancers, +19
ETSY, DISH, MOS, NUE led the SPX, 485 advancers.
MELI, NTES, PYPL, PANW led the NDX, 89 advancers.
 
The two-year trend term is up.  The one-year trend is up.
 
Up: DIA, IWM, SPY, QQQ,
Down:  
 
All eleven sectors were higher on Friday, led by XLB, XLP and XLF. 
 
Basic Materials leaders: MOS, NUE, FCX, MLM
Consumer Staples leaders:  TAP, MNST, LW, KR
Financial leaders: SBNY, SIVB, TFC, PBCT, ZION
 
Advancers strengthened on Friday as advancers led 2,768 to 895 on the NYSE and led 3,426 to 1,295 on the NASDAQ.
 
The SPY MFC green line is turned up at 23.2 and is bullish.  SPY closed above the HOLD and confirmed its Jan 24 low. 
 
 
Uptrend sectors:  XLE, XLP,
Neutral sectors: XLF, XLU, XLB, XLV, XLRE, XLK,
Down trend sectors: XLY, XLI, XLC,
 
The 6-month intermediate trend is up.  The ten-day trend is down.
 
3-month Intermediate Term Market Trend: Down
3-day Short Term Market Trend: Up
 
89 of 100 NDX stocks closed higher on Friday.
 
32 NDX stocks are above their 30 DMA:  ATVI, EXC, TMUS, DDOG, MAR, DLTR, KHC, AZN, ALGN, AVGO, CDNS, COST, CRWD, FTNT, ISRG, MU, PANW, SNPS, SPLK, ADI, AEP, AMD, AMGN, AMZN, CHTR, CTSH, IDXX, KDP, MELI, NTES, ODFL, REGN,
 
NDX Stocks to Watch on Monday:
Moving Above 30 DMA = 13
ADI, AEP, AMD, AMGN, AMZN, CHTR, CTSH, IDXX, KDP, MELI, NTES, ODFL, REGN,
 
Moving Below 30 DMA = 1
ZS,
 
 
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NDX, RUT, SPX, DJI Open Lower, Close Higher in High Volume Reversal Day...Technology, Communication Services, Consumer Discretionary Lead Broad Rally....ENPH Leads SPX...

 
 
© 2022
 
 
NDX, RUT, SPX and DJI opened lower and closed higher Thursday on heavy buying volume creating a powerful reversal day.  There were over 45 bullish engulfing candles and more than 15 piercing line candles in the NDX 100 alone. Breadth increased significantly on Thursday.
 
Afterhours EPS reactions:  ETSY +20.55%, SQ +18.32% rose, while ZS -14.91% fell.
 
 
SPY up 6.35 at 428.30, on 213.9 million shares, above average volume, up on higher volume.
VIX down.70 at 30.32
QQQ up 11.07 at 340.49
 
 
CRM, MSFT, INTC, DIS led the DJIA, 11 advancers, +9
ENPH, SEDG, FTNT, GNRC led the SPX, 314 advancers.
MRNA, PANW, CRWD, MELI led the NDX, 86 advancers.
 
The two-year trend term is up.  The one-year trend is up.
 
Up: QQQ, IWM, SPY, DIA,
Down:   
 
Seven of eleven sectors were higher on Thursday, led by XLK, XLC and XLY.  XLP which has been a leader over the past few weeks had a dramatic selloff as the broad market rallied.
 
Technology leaders: ENPH, SEDG, FTNT, NOW
Communication Services leaders:  LYV, MTCH, DISH, TWTR
Consumer Discretionary leaders: ETSY, UAA, CZR, LEN
 
Advancers strengthened on Thursday as advancers led 1,945 to 1,485 on the NYSE and led 2,919 to 1,946 on the NASDAQ.
 
The SPY MFC green line is turned down at 20.2 and is short-term bearish.  SPY closed above its 6-month closing low which occurred yesterday, and above its Jan 24 intra-day low. 
 
 
Uptrend sectors:  XLE, XLP,
Neutral sectors: XLF, XLU, XLB, XLV, XLRE, XLK,
Down trend sectors: XLY, XLI, XLC,
 
The 6-month intermediate trend is up.  The ten-day trend is down.
 
3-month Intermediate Term Market Trend: Down
3-day Short Term Market Trend: Down a little
 
86 of 100 NDX stocks closed higher on Thursday.
 
20 NDX stocks are above their 30 DMA:  ATVI, EXC, TMUS, DDOG, MAR, DLTR, KHC, AZN, ALGN, AVGO, CDNS, COST, CRWD, FTNT, ISRG, MU, PANW, SNPS, SPLK, ZS,
 
NDX Stocks to Watch on Friday:
Moving Above 30 DMA = 12
ALGN, AVGO, CDNS, COST, CRWD, FTNT, ISRG, MU, PANW, SNPS, SPLK, ZS,
 
Moving Below 30 DMA = 0

  
 
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SPX, NDX, DJI, RUT Continue to Slide...Breadth Weakens...Energy Sector Rises...

 
 
© 2022
 
 
SPX, NDX, and DJI fell Wednesday as Russia / Ukraine tensions intensified.  QQQ closed below Jan 24 support.  Chart Signals has been short-term bearish since Feb 11, prepare for a potential break of Jan 24 support by SPY.
 
 
SPY down 7.62 at 421.95, on 132.5 million shares, average volume, down on similar volume.
VIX up 2.21 at 31.02
QQQ down 8.66 at 329.42
 
 
CVX, JNJ, INTC, MRK led the DJIA, 2 advancers, -3
TAP, SWN, PSA, CTRA led the SPX, 58 advancers.
CDNS, MELI, REGN, GILD led the NDX, 8 advancers.
 
The two-year trend term is up.  The one-year trend is up.
 
Up:
Down:  DIA, SPY, IWM, QQQ,
 
One of eleven sectors was higher on Wednesday, led by XLE, XLV and XLP
 
Energy leaders: SWN, CTRA, CVX, WMB
Healthcare leaders:  BDX, BSX, BAX, CERN
Consumer Staples leaders: TAP, MO, K, HSY
 
Advancers were mixed on Wednesday as decliners led 2,486 to 876 on the NYSE and led 3,584 to 1,144 on the NASDAQ.
 
The SPY MFC green line is turned down at 23.3 and is short-term bearish.  SPY closed at a 6-month closing low, at the Jan 24 intra-day low. 
 
 
Uptrend sectors:  XLE, XLP,
Neutral sectors: XLF, XLU, XLB, XLV, XLRE, XLK,
Down trend sectors: XLY, XLI, XLC,
 
The 6-month intermediate trend is up.  The ten-day trend is down.
 
3-month Intermediate Term Market Trend: Down
3-day Short Term Market Trend: Down
 
8 of 100 NDX stocks closed higher on Wednesday.
 
8 NDX stocks are above their 30 DMA:  ATVI, EXC, TMUS, DDOG, MAR, DLTR, KHC, AZN,
 
NDX Stocks to Watch on Thursday:
Moving Above 30 DMA = 0
 
 
Moving Below 30 DMA = 4
ABNB, BKNG, KDP, MU,
 
 
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SPX, NDX, DJI Fall to January Support, Sectors Move Lower, AZN Added to NDX...

 
© 2022
 
 
SPX, NDX, and DJI fell Tuesday as Russia / Ukraine tensions continued.
 
 
SPY down 4.66 at 429.57, on 132.6 million shares, average volume, down on lower volume.
VIX up 1.06 at 28.81
QQQ down 3.43 at 338.08
 
 
MCD, AMGN, TRV, HON led the DJIA, 5 advancers, -3
MDT, CARR, PPL, BAX led the SPX, 115 advancers.
KHC, SGEN, OKTA, DXCM led the NDX, 31 advancers.
 
The two-year trend term is up.  The one-year trend is up.
 
Up:
Down:  QQQ, SPY, IWM, DIA,
 
All eleven sectors were lower on Tuesday, led by XLU, XLV and XLRE
 
Utilities leaders: PPL, CNP, SO, AEP
Healthcare leaders:  MDT, BAX, DXCM, ILMN
Real Estate leaders: SBAC, ARE, MAA, UDR
 
Advancers weakened on Tuesday as decliners led 2,599 to 750 on the NYSE and led 3,593 to 1,198 on the NASDAQ.
 
The SPY MFC green line is turned down at 31.4 and is short-term bearish.  SPY closed at a 3-month closing low, but above Jan 24 intra-day low. 
 
 
Uptrend sectors:  XLE, XLP, XLF,
Neutral sectors: XLU, XLI, XLB, XLRE, XLV, XLK, XLY,
Down trend sectors: XLC,
 
The 6-month intermediate trend is up.  The ten-day trend is down.
 
3-month Intermediate Term Market Trend: Down
3-day Short Term Market Trend: Down
 
31 of 100 NDX stocks closed higher on Tuesday.
 
12 NDX stocks are above their 30 DMA:  ATVI, EXC, BKNG, TMUS, DDOG, MAR, DLTR, ABNB, MU, KHC, KDP, AZN,
 
NDX Stocks to Watch on Wednesday:
Moving Above 30 DMA = 0
AZN added to NDX today
 
Moving Below 30 DMA = 5
BIDU, CHTR, COST, CSCO, ORLY,
 
 
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