© 2022
After a one-day
pullback on Wednesday, buyers were in control as QQQ, SPY, IWM, DIA, opened higher and closed more than 1% higher on Thursday. QQQ, SPY, DIA, closed above Wednesday’s
high, continuing their current rally for an eighth day.
Oil /CL -3.08, traded in a range overnight Wednesday and started
to selloff at the open on Thursday as stocks rallied.
Talks between UKR / RUS continue to have no
clear path towards a ceasefire.
SPY up 6.69 at 450.49, on 64.7 million shares, below average volume, up on lower volume.
VIX down 1.90 at 21.67,
fell to its lowest level since Feb
9.
QQQ up 7.82 at 359.65.
INTC, AAPL, UNH, MCD led the DJIA, 28 advancers, +25
TER, MCHP, KLAC, ANET led the SPX, 439 advancers.
NVDA, MRVL AMD, AMAT led the NDX, 92 advancers.
The two-year trend term is up. The one-year trend is up.
Up: QQQ, SPY, IWM, DIA,
Down:
All eleven
sectors were higher on Thursday, led by XLK,
XLB and XLC.
Technology leaders: NVDA, INTC, AMD, AMAT
Materials leaders: NUE, LIN, FCX, APD
Communication Services leaders: MTCH, NWSA, FB, IPG
Advancers strengthened on Thursday as advancers led 2,189 to 1,145 on the NYSE
and led 3,149 to 1,553 on the NASDAQ.
The SPY MFC green line is pointed
up at 76
and is short-term bullish. SPY
reversed Wednesday’s pullback, closed above below Tuesday’s close and
continuing a strong eight-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: Up
92 of 100 NDX stocks
closed higher on Thursday.
76 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, ADSK, BKNG, CMCSA, DDOG, DOCU, KLAC, LRCX, LULU, MAR, MTCH,
NFLX, NXPI, SWKS, TEAM, VRSN,
NDX Stocks to Watch on Friday:
Moving Above 30 DMA = 15
ADSK, BKNG, CMCSA, DDOG,
DOCU, KLAC, LRCX, LULU, MAR, MTCH, NFLX, NXPI, SWKS, TEAM, VRSN,
Moving Below 30 DMA = 1
PDD,
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1 comment:
So great to see the “weight of the evidence” on a daily summary each and every day. Thank you, Dave….
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