© 2022
The SPX gapped lower at the open after S&P
futures fell overnight following reports of explosions and capture of a UKR nuclear
power plant RUS forces. The February
Jobs Report was higher than expected and did create a temporary rally in the
futures but buying was short lived.
IWM, SPY, DIA and QQQ opened lower and closed lower after trading in a
range on Friday.
SPY down 3.54 at 432.17, on 114.0 million shares, below average volume, down on higher volume.
VIX up 1.50 at 31.98
QQQ down 4.96 at 337.30
WMT, UNH, WBA, CVX led the DJIA, 14 advancers, -1
OXY, MOS, KR, BKR led the SPX, 196 advancers.
CSX, SPLK, SGEN, XEL led the NDX, 28 advancers.
The two-year trend term is up. The one-year trend is up.
Up:
Down: DIA, SPY, QQQ, IWM,
Five
of eleven
sectors were higher on Friday, led by XLE,
XLU and XLRE.
Energy leaders: OXY,
BKR, CTRA, MRO
Utilities leaders: AWK, XEL, EVRG, ES
Real Estate leaders: UDR,
ESS, EXR, PEAK
Advancers weakened on Friday as decliners led 2,260 to 1,072 on the NYSE and
led 3,475 to 1,223 on the NASDAQ.
The SPY MFC green line
pointed up at 45.6 and is bullish. SPY opened lower and closed below Thursday’s
low on Friday and formed a dragonfly doji in its six-day trading range.
Uptrend sectors: XLE, XLP,
Neutral sectors: XLU, XLV, XLRE, XLF, XLB,
XLK,
Down trend sectors: XLY, XLI, XLC,
The 6-month intermediate trend is up. The
ten-day trend is down.
3-month Intermediate Term Market Trend: Down
3-day Short Term Market Trend: Sideways
28 of 100 NDX stocks
closed higher on Friday.
34 NDX stocks are above their 30 DMA: ATVI, EXC, TMUS, DLTR, KHC,
CDNS, COST, CRWD, FTNT, ISRG, PANW, SNPS, AEP, AMGN, IDXX, KDP, ODFL, ORLY,
VRSN, WDAY, AVGO, CSCO, CSX, CTSH, DXCM, PAYX, SPLK, VRTX, XEL, ADP, CTAS, FAST,
REGN, SGEN,
NDX Stocks to Watch on Monday:
Moving Above 30 DMA = 5
ADP, CTAS, FAST, REGN, SGEN,
Moving Below 30 DMA = 4
AZN, LULU, MELI,
MU,
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2 comments:
thanks for your excellent analysis, much appreciated
Thank you, Dave.
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