© 2022
Futures moved higher overnight.
The broad indexes opened higher, rallied until about two hours before
the FOMC announcement and sold off to Tuesday’s close. When the press conference began at 2:30, the
indexes began to rally, and the SPX closed +95.41 points.
Some progress is being reported in talks between
UKR / RUS, lifting hopes of a path towards a ceasefire.
QQQ, IWM,
SPY, DIA, opened higher and closed
higher in the second day of a broad rally.
SPY up 9.45 at 435.62, on 144.9 million shares, above average volume, up on higher volume.
VIX down 3.16 at 26.67
QQQ up 12.17 at 340.32
BA, NKE, CRM, JPM led the DJIA, 20 advancers, -8
EPAM, MRNA, LVS, JBHT led the SPX, 412 advancers.
PDD, JD, BIDU, NTES led the NDX, 92 advancers.
The two-year trend term is up. The one-year trend is up.
Up: QQQ, IWM, SPY, DIA,
Down:
Nine
of eleven
sectors were higher on Wednesday, led by XLY,
XLK and XLF.
Consumer Discretionary leaders: LVS,
WYNN, APTV, PVH
Technology leaders: EPAM, MU, ENPH, PYPL
Financial leaders: SBNY, SCHW, MS, LNC
Advancers strengthened on Wednesday as advancers led 2,669 to 701 on the NYSE
and led 3,755 to 953 on the NASDAQ.
The SPY MFC green line is pointed
up at 29.9
and is short-term bullish. SPY
closed higher for a second day and at its 30 DMA.
Uptrend sectors: XLE, XLU, XLP,
Neutral sectors: XLV, XLRE, XLF, XLB, XLK,
XLI,
Down trend sectors: XLY, XLC,
The 6-month intermediate trend is up. The
ten-day trend is sideways.
3-month Intermediate Term Market Trend: Down
3-day Short Term Market Trend: Up
92 of 100 NDX stocks
closed higher on Wednesday.
44 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, CSCO, CTAS, DXCM, HON, ODFL, PANW, TXN, VRSK, ADI, AMZN, ASML, CDNS,
CPRT, CSX, FISV, IDXX, MAR, MCHP, MELI, MRNA, MRVL, MSFT, NTES, NVDA, NXPI,
NDX Stocks to Watch on Thursday:
Moving Above 30 DMA = 17
ADI, AMZN, ASML, CDNS,
CPRT, CSX, FISV, IDXX, MAR, MCHP, MELI, MRNA, MRVL, MSFT, NTES, NVDA, NXPI,
Moving Below 30 DMA = 1
WBA,
Add Comments
here:
1 comment:
Thank you for your comments on the SPX price action in the first paragraph, Dave. I’m traveling and missed it all. Very helpful!
Post a Comment