Friday, April 22, 2022

Selloff Accelerates as Breadth Weakens on Friday...All Sectors Move Lower for Second Straight Day...

 
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SPY down 12.02 at 426.04, on 132.4 million shares, above average volume, down on higher volume.
VIX up 5.53 at 28.21
QQQ down 8.75 at 325.40.
 
PG, JNJ led the DJIA, 0 advancers, -8
KMB, SIVB, TWTR, TTWO led the SPX, 15 advancers.
EA, JD, NTES led the NDX, 3 advancers.
 
The two-year trend term is up.  The one-year trend is up.
 
Up:
Down:  IWM, QQQ, DIA, SPY,
 
All eleven sectors were lower on Friday, led by XLP and XLRE. 
 
 
Advancers weakened on Friday as decliners led 2,809 to 537 on the NYSE and led 3,537 to 1,115 on the NASDAQ.
 
The SPY MFC green line is pointed down at 49.1 and is short-term bearish.  SPY broke short-term support and made its lowest close since March 14, in a 3-month sideways channel.    
 
 
Uptrend sectorsXLE, 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 TrendDown
 
3 of 100 NDX stocks closed higher on Friday.
 
20 NDX stocks are above their 30 DMA:  EXC, DLTR, KHC, COST, AEP, AMGN, XEL, VRTX, VRSK, TSLA, PEP, LULU, MNST, ROST, GILD, MDLZ, ORLY, MAR, TSLA, EA,
 
NDX Stocks to Watch on Monday:
Moving Above 30 DMA = 1
EA,   
 
Moving Below 30 DMA = 17
ADP, AZN, BIIB, BKNG, CMCSA, CSX, CTAS, FAST, FISV, HON, ISRG, KDP, PAYX, PCAR, REGN, TMUS, WBA,
 
 
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