Monday, February 14, 2022

Russia, Ukraine Geopolitical Fears Continue to Dominate Volatile Trading on Monday...

 
© 2022
 
 
SPX, NDX, and DJI opened lower and traded in a volatile range on Monday.  Indications appeared that Ukraine might abandon its NATO membership request, fears that Russia will attack as soon as Wednesday are still causing geopolitical concerns and weighing heavy on market sentiment.  This is still a primary event risk. 
 
PPI will be released Tuesday at 8:30 am ET.
 
Fed minutes will be released on Wednesday at 2 pm ET.
 
 
SPY down 1.44 at 439.02, on 123.0 million shares, above average volume, down on lower volume.
VIX up .97 at 28.33
QQQ up .43 at 347.49
 
 
NKE, DIS, KO, HD led the DJIA, 8 advancers, +4
EXPE, LVS KMX, NWL led the SPX, 103 advancers.
SPLK, LCID, MELI, PANW led the NDX, 35 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 day, led by XLY, XLC and XLK.
 
Consumer Discretionary leaders: EXPE, LVS, KMX, NWL
Communication Services leaders: NFLX, GOOGL, DIS, MTCH
Technology leaders: JKHY, QRVO, ANET, NVDA
 
Advancers were mixed on Monday as decliners led 2,430 to 940 on the NYSE and led 3,244 to 1,483 on the NASDAQ.
 
The SPY MFC green line is turned down at 45 and is short-term bearish.  SPY closed below its Feb 4 short-term support and formed a hammer. 
 
 
Uptrend sectorsXLE, 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 TrendDown
 
35 of 100 NDX stocks closed higher on Monday.
 
26 NDX stocks are above their 30 DMA:  CERN, KDP, ATVI, EXC, BKNG, INCY, BIDU, FISV, JD, SIRI, TMUS, DDOG, MAR, CHTR, DLTR, ABNB, FTNT, PDD, ZS, CRWD, REGN, TEAM, MU, MELI, PANW, SPLK,
 
NDX Stocks to Watch on Tuesday:
Moving Above 30 DMA = 3
MELI, PANW, SPLK,
 
Moving Below 30 DMA = 4
CTSH, EA, ORLY, VRTX,
 
 
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