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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