Stocks Fall and VIX Jumps after CPI Miss and Bullard's Hawkish Comments...Breadth Weakens as All Sectors Move Lower...

 
© 2022
 
 
SPX, NDX, DJI and RUT opened lower, after the CPI report came high at 7.5% vs.7.3% estimate, rallied after the open to near even.  Mid-morning after hawkish comments from James Bullard the market sold off sharply for the balance of the day.  Futures are trading lower during the evening.
 
 
Earnings Reports:
Positive reactions: MAT, SONO, DIS, MGM, TWLO OMC, ENPH, CMG, PAYC, DD, TSN, AMZN, SNAP, PINS, NLOK, FTNT, AON, CBOE, BMY, TMUS, BDX, RL, HSY, GOOGL, AMD, ODFL, MTCH, HUM, HWM, ABBV, DHI, XOM, CTLT, NXPI, PHM, OTIS, V, CHTR, WY, CHD, NOW, BLL, STX, PKG, DOW, NUE, URI, AMP, MA, TSCO, RJF, GLW, MSFT, TXN, ZION, AXP, JNJ, RTX, LMT, PCAR, HAL, TRV, BKR, AA, UNP, PG, MS, WFC,
Neutral reactions: REGN, CAH, CMI, ICE, SWK, BEN, ARE, TT, CL, LYB, VLO, VRTX, CMCSA, MCD, GD, APH, MMM, IVZ, ADM, VZ, INFO, KMI, BAC, UNH, JBHT, PLD, FAST, TFC
Negative reactions: AFRM, UBER, MGM, CVS, CDW, FISV, SPG, ZBH, CLX, F, APD, RCL, ETN, FB, XYL, QRVO, SHOP, FTV, HON, LNC, CI, EL, MRK, LLY, COP, BIIB, PYPL, SBUX, BR, LHX, SYF, VFC, CVX, CAT, PSX, TER, TSLA, INTC, LRCX, WHR, LVS, XLNX, CCI, FFIV, BA, FCX, COF, ABT, ADP, ANTM, HES, KMB, MKTX NDAQ NSC, PGR ROL, T, TEL, NFLX, SIVB, HBAN, ISRG, PBCT, CSX, PPG, SLB, RF, MTB, NTRS, FITB, KEY, AAL, DFS, UAL, USB, STT, CFG, CMA, BK, GS, PNC, SBNY, SCHW, TFC, C, BLK, FRC, JPM
 
 
SPY down 8.22 at 449.32, on 140.1 million shares, above average volume, down on higher volume.
VIX up 3.95 at 23.91
QQQ down 8.30 at 358.43
 
 
DIS, BA, KO, MRK led the DJIA, 4 advancers, -19
K, IFF, SWN, MOS led the SPX, 65 advancers.
DDOG, MU, TEAM, ORLY led the NDX, 12 advancers.
 
The two-year trend term is up.  The one-year trend is up.
 
Up:   
Down:  DIA, IWM, SPY, QQQ,
 
All eleven sectors were lower on Thursday, as XLB, XLE and XLF were down the least.
 
Basic Materials leaders: IFF, MOS, LIN, NUE
Energy leaders: SWN, FANG, VLO, CTRA
Financial leaders: MCO, ZION, SBNY, LNC
 
Advancers weakened on Thursday as decliners led 2,535 to 856 on the NYSE and led 3,292 to 1,451 on the NASDAQ.
 
The SPY MFC green line is turned up at 50.6 and is bullish.  SPY closed below its 30 DMA. 
 
 
Uptrend sectors:  XLE, XLP, XLU,
Neutral sectors: XLF, XLI, XLB, XLRE, XLV, XLK,
Down trend sectors: XLY, XLC,
 
The 6-month intermediate trend is up.  The ten-day trend is up.
 
3-month Intermediate Term Market Trend: Down
3-day Short Term Market Trend: Sideways
 
12 of 100 NDX stocks closed higher on Thursday.
 
36 NDX stocks are above their 30 DMA:  VRTX, CERN, KDP, ATVI, EXC, BKNG, INCY, BIDU, FISV, JD, SIRI, EA, GOOGL, XLNX, TMUS, AMZN, DDOG, MAR, CHTR, CTSH, DLTR, AAPL, ABNB, AMGN, COST, FTNT, NTES, PDD, ZS, ALGN, CRWD, MELI, PANW, REGN, TEAM, MU,
 
NDX Stocks to Watch on Friday:
Moving Above 30 DMA = 1
MU,
 
Moving Below 30 DMA = 13
ADI, AMD, AVGO, INTU, MDLZ, MRVL, NVDA, PCAR, QCOM, SGEN, SNPS, SPLK, XEL,
 
 
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