© 2022
After a strong six-day
rally, sellers were in control as SPY, DIA, QQQ, IWM, opened lower and closed more than 1% lower on
Wednesday. SPY, DIA, IWM closed below Tuesday’s
low, indicating a potential short-term trend reversal. Oil /CL +5.60, rose overnight Tuesday and continued to rise Wednesday as stocks
fell.
Talks between UKR / RUS continue to have no
clear path towards a ceasefire.
SPY down 5.79 at 443.80, on 79.4 million shares, below average volume, down on higher volume.
VIX up .63 at 23.57
QQQ down 5.13 at 351.83.
CVX, AAPL, MRK led the DJIA, 3 advancers, -21
SWN, HES, FANG, NEM led the SPX, 92 advancers.
PDD, CTAS, CRWD, PANW led the NDX, 16 advancers.
The two-year trend term is up. The one-year trend is up.
Up:
Down: SPY, DIA, QQQ, IWM,
Two of
eleven
sectors were higher on Wednesday, led by XLE,
XLU and XLB.
Energy leaders: SWN, HES, FANG, MRO
Utilities leaders: ETR, EIX, DTE, CMS
Materials leaders: NEM, MOS, NUE, CTVA
Advancers weakened on Wednesday as decliners led 2,142 to 1,172 on the NYSE and
led 3,082 to 1,594 on the NASDAQ.
The SPY MFC green line is pointed
up at 71.9
and is short-term bullish. SPY
moved below Tuesday’s low after a strong six-day rally.
Uptrend sectors: XLE, XLU, XLP, XLV, XLB,
Neutral sectors: XLRE, XLF, XLK, XLI,
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
16 of 100 NDX stocks
closed higher on Wednesday.
62 NDX stocks are above their 30 DMA: EXC, DLTR, KHC, COST,
AEP, AMGN, CTSH, PAYX, XEL, ADP, FAST, SGEN, AZN, ORLY, REGN, TMUS, CRWD, VRTX,
AVGO, CTAS, DXCM, HON, ODFL, PANW, TXN, VRSK, ADI, AMZN, ASML, CDNS, CPRT, CSX,
FISV, IDXX, MCHP, MELI, MRNA, MRVL, MSFT, NVDA, ABNB, AMAT, ILMN, PYPL, SNPS,
SPLK, TSLA, WDAY, FB, FTNT, GOOGL, INTC, SIRI, AAPL, AMD, BIDU, BIIB, EBAY, LCID, NTES, PEP, PDD,
NDX Stocks to Watch on Thursday:
Moving Above 30 DMA = 1
PDD,
Moving Below 30 DMA = 20
ADBE,
ADSK, ANSS, CMCSA, CSCO, GILD, ISRG, KLAC, LRCX, LULU, MAR, MNST, MTCH, NFLX, NXPI,
ROST, SWKS, TEAM, VRSN, WBA,
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1 comment:
It was quite the pause day. Thank you, Dave
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