Friday, April 1, 2022

SPY, DIA, IWM Close Higher, Form Bull Flag Pattern...Real Estate, Utilities, Materials Lead Sectors as April Begins...

 
© 2022
 
 
IWM, SPY, DIA rose while forming a bull flag pattern and QQQ closed lower on the fourteenth day of market rally. Oil futures, (/CL -0.86) closed lower. 
 
Talks between UKR / RUS continue to have no clear path towards a ceasefire.  
 
 
SPY up 1.23 at 452.92, on 89.0 million shares, below average volume, up on lower volume.
VIX down .93 at 19.63.
QQQ down .69 at 361.85.
 
VZ, V, MRK, PG led the DJIA, 20 advancers, +20
EW, NEM, IQV, DXCM led the SPX, 337 advancers.
NTES, BIDU, PDD, ILMN led the NDX, 61 advancers.
 
The two-year trend term is up.  The one-year trend is up.
 
Up: IWM, SPY, DIA,
Down:  QQQ,
 
Eight of eleven sectors were higher on Friday, led by XLRE, XLU and XLB. 
 
Real Estate l leaders: DLR, EQIX, UDR, PLD
Utilities leaders:  ETR, SO, DTE, AWK
Materials leaders:  NEM, FCX, IFF, SHW
 
Advancers strengthened on Friday as advancers led 2,162 to 1,161 on the NYSE and led 2,751 to 1,927 on the NASDAQ.
 
The SPY MFC green line is pointed down at 90.8 and is counter-trend defensive.  SPY is forming a bull flag pattern in its 14-day rally.    
 
 
Uptrend sectorsXLE, 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 TrendDown
 
61 of 100 NDX stocks closed higher on Friday.
 
80 NDX stocks are above their 30 DMA:  EXC, DLTR, KHC, COST, AEP, AMGN, CTSH, PAYX, XEL, ADP, FAST, SGEN, AZN, REGN, CRWD, VRTX, AVGO, CTAS, DXCM, HON, PANW, TXN, VRSK, ADI, AMZN, ASML, CDNS, CPRT, FISV, IDXX, MCHP, MELI, MRNA, MRVL, MSFT, NVDA, ABNB, ILMN, PYPL, SNPS, SPLK, TSLA, WDAY, FB, FTNT, GOOGL, INTC, SIRI, AAPL, BIIB, EBAY, NTES, PEP, ADSK, BKNG, CMCSA, KLAC, LULU, MAR, MTCH, NFLX, VRSN, ISRG, ADBE, ANSS, DDOG, DOCU, INTU, KDP, MNST, ROST, TEAM, TMUS, ZS, CSCO, GILD, SBUX, ZM, MDLZ, ATVI,
 
NDX Stocks to Watch on Monday:
Moving Above 30 DMA = 1
ATVI,
 
Moving Below 30 DMA = 7
AMAT, CSX, EA, LCID, LRCX, NXPI, ORLY,   
 
 
Add Comments here:

1 comment:

Ben W. said...

Thank you , Dave !