© 2022
QQQ,
SPY, DIA opened lower, traded in a range with price volatility expanding when the
Fed minutes were released at 2 pm ET and closed lower. Indications are that the Fed is likely to
reduce its balance sheet by $95 billion a month. Oil futures, (/CL -4.41) closed lower.
Talks between UKR / RUS continue to have no
clear path towards a ceasefire.
SPY down 4.51 at 446.52, on 106.8 million shares, average volume, down on higher volume.
VIX up 1.07 at 22.10
QQQ down 7.84 at 353.26.
UNH, JNJ, WMT, AMGN led the DJIA, 8 advancers, -11
LLY, NRG, DG, PM led the SPX, 144 advancers.
EXC, AEP, AZN, XEL led the NDX, 28 advancers.
The two-year trend term is up. The one-year trend is up.
Up:
Down: DIA, SPY, IWM, QQQ,
Five (29.96%)
of eleven sectors were higher on Wednesday, led by XLU,
XLV and XLRE.
Utilities l leaders:
NRG, EXC, CMS, AEP
Health Care leaders: LLY, ABBV, PFE, BDX
Real Estate leaders: EXR, PSA, PEAK, MAA
Advancers strengthened on Wednesday as decliners led 2,395 to 946 on the NYSE and
led 3,469 to 1,371 on the NASDAQ.
The SPY MFC green line is pointed down at 79.99 and is defensive. SPY pulled back making a new low in
its 6-day bull flag pattern.
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: Down
28 of 100 NDX stocks
closed higher on Wednesday.
63 NDX stocks are above their 30 DMA: EXC, DLTR, KHC, COST,
AEP, AMGN, PAYX, XEL, ADP, FAST, SGEN, AZN, REGN, CRWD, VRTX, AVGO, CTAS, DXCM,
HON, PANW, TXN, VRSK, ADI, AMZN, CDNS, CPRT, FISV, IDXX, MELI, MSFT, ABNB,
ILMN, PYPL, SNPS, SPLK, TSLA, FB, FTNT, GOOGL, SIRI, AAPL, BIIB, NTES, PEP, BKNG,
CMCSA, LULU, MTCH, VRSN, ISRG, DOCU, INTU, MNST, ROST, TEAM, TMUS, GILD, ZM,
MDLZ, ORLY, PDD, KDP,
NDX Stocks to Watch on Thursday:
Moving Above 30 DMA = 1
KDP,
Moving Below 30 DMA = 14
ADBE, ADSK, ANSS, ATVI, BIDU,
DDOG, EBAY, INTC, MAR, MRNA, NFLX, NVDA, WDAY, ZS,
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1 comment:
Thank you for your summary, Dave.
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