© 2022
QQQ,
SPY, DIA opened higher and closed lower as an initial positive reaction to the
March CPI report faded Tuesday afternoon.
Earnings season starts Wednesday morning with earning reports from JPM,
DAL, FAST, BLK, FRC.
Oil futures, (/CL +5.80) closed
above $100.
Talks between UKR / RUS continue to have no
clear path towards a ceasefire.
SPY down 1.63 at 438.29, on 84.2 million shares, below average volume, down on lower volume.
VIX down .11 at 24.26
QQQ down 1.44 at 339.45.
DOW, CVX, KO, AAPL led the DJIA, 10 advancers, +6
MRO, DVN, FTI, DRI led the SPX, 198 advancers.
CRWD, ROST, LULU, TSLA led the NDX, 31 advancers.
The two-year trend term is up. The one-year trend is up.
Up: IWM,
Down: DIA, SPY, QQQ,
Five
of eleven
sectors were higher on Tuesday, led by XLE,
XLU and XLY.
Energy l leaders:
MRO, DVN, FTI, DRI
Utilities leaders: EIX, SO, ETR, ED
Consumer Discretionary leaders: DRI, BBWI, ROST, APTV
Advancers strengthened on Tuesday as advancers led 1,666 to 1,647 on the NYSE
and decliners led 2,642 to 2,049 on the NASDAQ.
The SPY MFC green line is pointed down at 63 and is defensive. SPY is in a 10-day pullback in a
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 up. The
ten-day trend is down.
3-month Intermediate Term Market Trend: Down
3-day Short Term Market Trend: Down
31 of 100 NDX stocks
closed higher on Tuesday.
42 NDX stocks are above their 30 DMA: EXC, DLTR, KHC, COST,
AEP, AMGN, PAYX, XEL, ADP, FAST, SGEN, AZN, REGN, CRWD, VRTX, CTAS, DXCM, PANW,
VRSK, ABNB, ILMN, TSLA, FB, FTNT, SIRI, BIIB, NTES, PEP, BKNG, CMCSA, LULU, DOCU,
MNST, ROST, TMUS, GILD, MDLZ, ORLY, AAPL, HON, KDP,
NDX Stocks to Watch on Wednesday:
Moving Above 30 DMA = 3
AAPL, HON, KDP,
Moving Below 30 DMA = 8
CPRT, FISV, INTU, MELI, MRNA, PDD,
PYPL, SPLK,
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