QQQ, SPY, DIA Reverse Lower after Fed Comments...Breadth Weakens...Utilities, Health Care, Staples Lead Sectors...

 
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QQQ, SPY, DIA reversed and closed below the HOLD near Friday’s low in a bull flag pattern after hawkish comments from the Fed's Brainard this morning . Oil futures, (/CL -2.27) closed lower. 

 
Talks between UKR / RUS continue to have no clear path towards a ceasefire.  
 
 
SPY down 5.77 at 451.03, on 74.2 million shares, below average volume, down on higher volume.
VIX up 2.46 at 21.03
QQQ down 8.20 at 361.10.
 
UNH, MCD, JNJ, VZ led the DJIA, 8 advancers, -11
ZBH, CCL, SJM, CCI led the SPX, 144 advancers.
ADP, VRSK, EXC, AEP led the NDX, 14 advancers.
 
The two-year trend term is up.  The one-year trend is up.
 
Up:
Down:  DIA, SPY, QQQ, IWM,
 
Four (25.41%) of eleven sectors were higher on Tuesday, led by XLU, XLV and XLP. 
 
Utilities l leaders: SO, ETR, WEC, ES
Health Care leaders:  ZBH, HOLX, BDX, UNH
Consumer Staples leaders:  SJM, MKC, CL, HRL
 
Advancers weakened on Tuesday as decliners led 2,722 to 644 on the NYSE and led 3,558 to 1,190 on the NASDAQ.
 
The SPY MFC green line is pointed down at 84.7 and is counter-trend defensive.  SPY pulled back in its bull flag pattern and closed near Friday’s low.    
 
 
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
 
14 of 100 NDX stocks closed higher on Tuesday.
 
75 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, MRNA, MSFT, NVDA, ABNB, ILMN, PYPL, SNPS, SPLK, TSLA, WDAY, FB, FTNT, GOOGL, INTC, SIRI, AAPL, BIIB, EBAY, NTES, PEP, ADSK, BKNG, CMCSA, LULU, MAR, MTCH, NFLX, VRSN, ISRG, ADBE, ANSS, DDOG, DOCU, INTU, MNST, ROST, TEAM, TMUS, ZS, GILD, ZM, MDLZ, ATVI, BIDU, ORLY, PDD,
 
NDX Stocks to Watch on Wednesday:
Moving Above 30 DMA = 0
 
 
Moving Below 30 DMA = 13
ASML, CSCO, CSX, CTSH, EA, JD, KDP, KLAC, LCID, LRCX, MCHP, MRVL, SWKS,
  
 
 
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