© 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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1 comment:
Wow…. The NDX has only 8 stocks above their 30 day MA. Amazing.
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