Rally Pauses, SPY Trading Range Forms Doji...Powell Speaks of Rate Hikes...Oil Soars...Energy, Materials Lead Sectors...

  
© 2022
 

QQQ, IWM, SPY, DIA, opened flat, traded in a range until Fed Chair Powell spoke of more aggressive interest rate hikes before the National Association for Business Economics.  The broad indexes sold off for about an hour midday and then rallied for the last two hours of the trading day to close slightly lower for today.  /CL rose overnight and closed up $7.65 lifting Energy stocks.
 
Talks between UKR / RUS continue to have no clear path towards a ceasefire.  
 
 
SPY down .13 at 444.39, on 88.3 million shares, below average volume, down slightly on lower volume.
VIX down .34 at 23.53
QQQ down 1.41 at 350.08, ex-dividend .4337.
 
CVX, DOW, CAT, TRV led the DJIA, 14 advancers, -6
MRO, OXY, MOS, HES led the SPX, 185 advancers.
SPLK, AMD, TSLA CSX led the NDX, 29 advancers.
 
The two-year trend term is up.  The one-year trend is up.
 
Up:
Down:  SPY, QQQ, DIA, QQQ,
 
Five of eleven sectors were higher on Monday, led by XLE, XLB and XLU. 
 
Energy leaders: MRO, OXY, HES, FANG
Materials leaders:  MOS, NUE, NEM, FCX
Utilities leaders:  ATO, SRE, AEE, PNW
 
Advancers weakened on Monday as decliners led 2,015 to 1,314 on the NYSE and led 3,058 to 1,731 on the NASDAQ.
 
The SPY MFC green line is pointed up at 58.5 and is short-term bullish.  SPY paused forming a trading range doji on a breakout test after a strong four-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 a little
3-day Short Term Market Trend: Up
 
29 of 100 NDX stocks closed higher on Monday.
 
61 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, NVDA, NXPI, ABNB, AMAT, ILMN, PYPL, SNPS, SPLK, TSLA, VRSN, WBA, WDAY, FB, FTNT, GOOGL, INTC, KLAC, SIRI, AAPL, AMD,
 
NDX Stocks to Watch on Tuesday:
Moving Above 30 DMA = 2
AAPL, AMD,
 
Moving Below 30 DMA = 12
ANSS, EBAY, ISRG, LCID, LRCX, LULU, MNST, NFLX, OKTA, ROST, SWKS, TEAM,
 
 
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