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SPX, NDX, and DJI opened higher and closed higher after geopolitical
tensions between Russia and Ukraine seemed to ease. Putin is apparently ready for talks with NATO
over missile deployments in Europe. This
is still an event risk at a decreased level from Monday.
PPI came in above
expectations.
Fed minutes will be
released on Wednesday at 2 pm ET.
SPY up 7.08 at 446.10, on 88.6 million shares, below average volume, up on lower volume.
VIX down 2.63 at 25.70
QQQ up 8.64 at 356.13
CRM, BA, AXP, NKE led the DJIA, 26 advancers, +18
AAL, EPAM HSIC, UAL led the SPX, 397 advancers.
MRVL, NVDA, MU, LRCX, AMD led the NDX, 89 advancers.
The two-year trend term is up. The one-year trend is up.
Up: IWM, QQQ, SPY, DIA,
Down:
Nine
of eleven
sectors were higher on day, led by XLK,
XLY and XLB.
Technology leaders: NVDA,
EPAM, ENPH, MU
Consumer Discretionary leaders: EXPE,
NCLH, CCL, BWA
Basic Materials leaders: ALB,
MLM, NUE, WRK
Advancers strengthened on Tuesday as advancers led 2,584 to 786 on the NYSE
and led 3,729 to 1,003 on the NASDAQ.
The SPY MFC green line
is turned down at 43.4 and is short-term bearish. SPY closed above
the HOLD of Monday’s hammer.
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 a little
89 of 100 NDX stocks
closed higher on Tuesday.
38 NDX stocks are above their 30 DMA: CERN, ATVI, EXC, BKNG,
INCY, BIDU, FISV, JD, SIRI, TMUS, DDOG, MAR, CHTR, DLTR, ABNB, FTNT, PDD, ZS,
CRWD, REGN, TEAM, MU, MELI, PANW, SPLK, AAPL, ALGN, AMZN, AVGO, COST, CTSH, EA,
MTCH, NVDA, OKTA, ORLY, PCAR, VRTX,
NDX Stocks to Watch on Wednesday:
Moving Above 30 DMA = 13
AAPL, ALGN, AMZN, AVGO,
COST, CTSH, EA, MTCH, NVDA, OKTA, ORLY, PCAR, VRTX,
Moving Below 30 DMA = 1
KDP,
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1 comment:
Thank you, Dave. Wednesday should be interesting with the FED minutes coming and Putin’s party ongoing.
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