Indexes Open Higher, Rally, Reverse and Finish Lower...UAL Leads SPX...TSLA Leads NDX...

 
 
© 2022
 
 
SPY, QQQ, DIA, IWM opened higher and rallied for the first 30 minutes of trading.  The market began giving gains back during a Biden press conference.  The SPX turned negative and sold off in the afternoon as Powell spoke on an IMF panel during beginning at 1 pm ET.  The SPX closed down 65 points.
 
UAL +4.33, +9.31%, a positive earnings reaction.
TSLA, +31.58, +3.23%, reported record earnings. 
 
Oil futures, (/CL +1.58) closed at $104.03. 
 
Talks between UKR / RUS continue to have no clear path towards a ceasefire.  
 
Earnings season:  Friday morning EPS reports from AXP, HCA, KMB, NEM, RF, SLB, VZ and ISRG, PPG, SIVB, FE, Thursday AMC.
Q1 Earnings Reports:
Positive reactions: UAL, T, AAL, NUE, TSLA, DOW, CSX MMC, DGX, PM, MTB, IBM, OMC, MKTX, ASML, PG, ANTM, ABT, SBNY, CFG, HAS, FITB, PLD, JNJ, JBHT, SYF, BAC, C, USB, FRC, DAL, FAST,
Neutral reactions: GL, GPC, ALK, KMI, SNA, DHR, CCI, TSCO, HBAN, HAL, GS, MS, UNH, BLK,
Negative reactions: FCX, EFX, DOV, NEE, KEY, LRCX, PNR, UNP, POOL, NFLX, NDAQ, BKR, CMA, TRV, LMT, TFC, SCHW, BK, STT, WFC, PNC, JPM
 
 
SPY down 6.65 at 438.06, on 85.4 million shares, average volume, higher volume.
VIX up 2.36 at 22.68
QQQ down 7.06 at 334.15.
 
DOW, IBM, VZ, MMM led the DJIA, 8 advancers, -16
UAL, T, AAL, NUE led the SPX, 89 advancers.
TSLA, CSX, MNST, KHC led the NDX, 12 advancers.
 
The two-year trend term is up.  The one-year trend is up.
 
Up:
Down:  DIA, SPY, QQQ, IWM,
 
All eleven sectors were lower on Thursday, led by XLP and XLRE. 
 
 
Consumer Staples leaders:  MO, PM, MNST, KHC
Real Estate leaders:  HST, AVB, CPT, MAA
 
 
Advancers weakened on Thursday as decliners led 2,666 to 656 on the NYSE and led 3,730 to 1,043 on the NASDAQ.
 
The SPY MFC green line is turned down at 54.3 and is defensive.  SPY pulled back to short-term support in its 16-day pullback, in a 3-month sideways channel.    
 
 
Uptrend sectors:  XLE, XLU, XLP, XLV, XLB, XLRE,
Neutral sectors:  XLF, XLI,
Down trend sectors: XLK, XLY, XLC,
 
The 6-month intermediate trend is sideways.  The ten-day trend is down.
 
3-month Intermediate Term Market Trend: Sideways
3-day Short Term Market Trend: Sideways
 
12 of 100 NDX stocks closed higher on Thursday.
 
36 NDX stocks are above their 30 DMA:  EXC, DLTR, KHC, COST, AEP, AMGN, PAYX, XEL, ADP, AZN, REGN, VRTX, CTAS, VRSK, TSLA, BIIB, PEP, BKNG, CMCSA, LULU, MNST, ROST, TMUS, GILD, MDLZ, ORLY, HON, MAR, FISV, ISRG, KDP, PCAR, WBA, CSX, FAST, TSLA,
 
NDX Stocks to Watch on Friday:
Moving Above 30 DMA = 3
CSX, FAST, TSLA,  
 
Moving Below 30 DMA = 12
ABNB, ADI, CDNS, CRWD, DXCM, FTNT, ILMN, INTC, INTU, PANW, TXN, VRSN,
 
 
Add Comments here: