SPY, QQQ, DIA, IWM Pause, Test Friday's DB BO on Monday...Discretionary Leads Sectors...MOS Leads SPX...

© 2022

The SPX -26.09 opened lower on a BO test that traded in a range above the Friday’s BO level.  SPY, QQQ, IWM, DIA each paused Monday on a BO test and closed above Friday’s double bottom BO area.

SPY down 2.33 at 412.93, on 95.9 million shares, average volume, down on higher volume.

VIX down .35 at 26.19, down from 26.54 in Monday's global session.

QQQ down .82 at 308.28

NKE, DIS, JPM, TRV led the DJIA, 9 advancers, -21

MOS, HAS, IPGP, SYF led the SPX, 103 advancers

JD, AMZN, PDD, DXCM led the NDX, 22 advancers

The two-year trend term is up.  The one-year trend down a little.

Up: 

Down: QQQ, SPY, DIA, IWM,

One of eleven sectors was higher on Tuesday, led by XLY, XLC and XLF.

Consumer Discretionary leaders:  AMZN, HAS, NKE, LVS

Communication Services leaders:  DISH, GOOGL, PARA, NFLX

Financial leaders: SYF, SBNY, CFG, TFC

Advancers weakened on Tuesday as decliners led 2,158 to 1,165 on the NYSE and led 2,884 led to 1,917 on the NASDAQ.

The SPY MFC green line is pointed up at 35.1 and is short-term bullish.  SPY opened lower on a BO test that traded in a range above the BO level.

Uptrend sectors:  XLE, XLU,

Neutral sectors:  XLP, XLV, XLB,

Down trend sectors: XLRE, XLY, XLI, XLK, XLF, XLC,

The 6-month intermediate trend is down.  The ten-day trend is up.

3-month Intermediate Term Market Trend: Down

3-day Short Term Market Trend: Up

22 of 100 NDX stocks closed higher on Tuesday.

57 NDX stocks are above their 30 DMA:   MNST, GILD, EA, NTES, NXPI, XEL, ADI, SNPS, AMGN, EXC, MCHP, SIRI, TMUS, VRTX, AEP, AMD, CHTR, CMCSA, KLAC, LRCX, SGEN, ZM, ADBE, ADSK, AMAT, ATVI, BIDU, BKNG, CDNS, CPRT, DLTR, FISV, FTNT, LCID, MU, PDD, TXN, ADP, ASML, AVGO, CTAS, DOCU, INTC, INTU, JD, MAR, MRNA, MRVL, MSFT, MTCH, NVDA, PCAR, PYPL, QCOM, SBUX, WBA, SWKS,

NDX Stocks to Watch on Wednesday:

Moving Above 30 DMA = 1

SWKS,

Moving Below 30 DMA = 7

ANSS, BIIB, FAST, HON, ORLY, PEP, REGN,

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QQQ Leads Broad Rally on Expiration Friday...Double Bottom Breakout...Discretionary, Technology, Real Estate Lead Sectors...

© 2022

The SPX +100.40 opened higher, traded higher during the day, formed a large white candle, and completed a double bottom breakout on expiration Friday.  This was the second largest expiration Friday gain during the past 14 months, eclipsed only by the 105-point gain on January 28.  SPY, QQQ, IWM, DIA each have broken out of a double bottom reversal pattern.

PDD +6.37, +15.19%, ZS +17.87, +12.57%, ULTA +47.12, +12.47%, ADSK +19.75, +10.31%, rose on Friday on positive earnings reaction.

SPY up 9.95 at 415.26, on 84.7 million shares, below average volume, up on similar volume.

VIX down 1.78 at 25.72

QQQ up 9.77 at 309.10

AAPL, BA, DIS, DOW led the DJIA, 30 advancers, +3

ULTA, MRNA, TSLA, PKI led the SPX, 480 advancers

PDD, ZS, ADSK, DDOG led the NDX, 97 advancers

The two-year trend term is up.  The one-year trend down a little.

Up:  QQQ, IWM, SPY, DIA,

Down:

All eleven sectors were higher on Friday, led by XLY, XLK and XLRE.

Consumer Discretionary leaders:  ULTA, TSLA, CCL, NCLH

Technology leaders:  ADSK, PYPL, AVGO, PTC

Real Estate leaders: IRM, PLD, WY, DRE

Advancers strengthened on Friday as advancers led 2,870 to 465 on the NYSE and led 3,792 led to 855 on the NASDAQ.

The SPY MFC green line is pointed up at 30.4 and is short-term bullish.  SPY opened higher and continued it channel support bounce broke out of a double bottom reversal pattern.

Uptrend sectors:  XLE, XLU,

Neutral sectors:  XLP, XLV, XLB,

Down trend sectors: XLRE, XLY, XLI, XLK, XLF, XLC,

The 6-month intermediate trend is down.  The ten-day trend is up.

3-month Intermediate Term Market Trend: Down

3-day Short Term Market Trend: Up

97 of 100 NDX stocks closed higher on Friday.

63 NDX stocks are above their 30 DMA:   MNST, GILD, EA, NTES, NXPI, XEL, ADI, SNPS, AMGN, EXC, MCHP, REGN, SIRI, TMUS, VRTX, AEP, AMD, CHTR, CMCSA, KLAC, LRCX, SGEN, ZM, ADBE, ADSK, AMAT, ATVI, BIDU, BIIB, BKNG, CDNS, CPRT, DLTR, FISV, FTNT, LCID, MU, PDD, TXN, ADP, ANSS, ASML, AVGO, CTAS, DOCU, FAST, HON, INTC, INTU, JD, MAR, MRNA, MRVL, MSFT, MTCH, NVDA, ORLY, PCAR, PEP, PYPL, QCOM, SBUX, WBA,

NDX Stocks to Watch on Tuesday:

Moving Above 30 DMA = 24

ADP, ANSS, ASML, AVGO, CTAS, DOCU, FAST, HON, INTC, INTU, JD, MAR, MRNA, MRVL, MSFT, MTCH, NVDA, ORLY, PCAR, PEP, PYPL, QCOM, SBUX, WBA,

Moving Below 30 DMA = 0

 

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QQQ, IWM, SPY, DIA Continue Support Bounce in Broad Rally...Discretionary, Communication Services Lead Sectors...COST Lower in After-hours Earnings...

© 2022

 

The SPX +79.11 opened higher, traded higher formed a larger white candle and closed near short-term resistance forming a breakout setup.  SPY, QQQ, IWM, DIA each formed a larger white candle pattern.

After the close, COST -9.63, -2.07%, reported earnings and sales that were above expectations, same store sales came in at 10.8% vs estimates of 11.80% and the stock traded lower.  COST +24.89, +5.65%, rose today before earnings.

SPY up 7.94 at 405.31, on 82.0 million shares, below average volume, up on lower volume.

VIX down .87 at 27.50

QQQ up 8.07 at 299.33

BA, NKE, HD, INTC led the DJIA, 27 advancers, +3

DG, NCLH, CZR, ETSY led the SPX, 447 advancers

DLTR, BIDU, LULU, SPLK led the NDX, 90 advancers

The two-year trend term is up.  The one-year trend down a little.

Up:  QQQ, IWM, SPY, DIA,

Down:

Ten of eleven sectors were higher on Thursday, led by XLY, XLE and XLC.

Consumer Discretionary leaders:  DLTR, DG, NCLH, CZR, ETSY

Communication Services leaders:  TWTR, MTCH, WBD, FB

Technology leaders: AMD, AMAT, EPAM, ENPH

Advancers strengthened on Thursday as advancers led 2,741 to 568 on the NYSE and led 3,509 led to 1,225 on the NASDAQ.

The SPY MFC green line is pointed up at 23 and is short-term bullish.  SPY opened higher and continued it channel support bounce closing near its short-term resistance and is a breakout setup.

Uptrend sectors:  XLE, XLU,

Neutral sectors:  XLP, XLV, XLB,

Down trend sectors: XLRE, XLY, XLI, XLK, XLF, XLC,

The 6-month intermediate trend is down.  The ten-day trend is up.

3-month Intermediate Term Market Trend: Down

3-day Short Term Market Trend: Up

90 of 100 NDX stocks closed higher on Thursday.

39 NDX stocks are above their 30 DMA:   MNST, GILD, EA, NTES, NXPI, XEL, ADI, SNPS, AMGN, EXC, MCHP, REGN, SIRI, TMUS, VRTX, AEP, AMD, CHTR, CMCSA, KLAC, LRCX, SGEN, ZM, ADBE, ADSK, AMAT, ATVI, BIDU, BIIB, BKNG, CDNS, CPRT, DLTR, FISV, FTNT, LCID, MU, PDD, TXN,

NDX Stocks to Watch on Friday:

Moving Above 30 DMA = 16

ADBE, ADSK, AMAT, ATVI, BIDU, BIIB, BKNG, CDNS, CPRT, DLTR, FISV, FTNT, LCID, MU, PDD, TXN,

Moving Below 30 DMA = 0

 

 

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SPY, QQQ, IWM Form Bullish Engulfing and Close Above the HOLD...Discretionary, Energy, Communication Services Lead Sectors...

© 2022

The SPX +37.25 opened lower, traded in a range until the FOMC minutes were released at 2 pm ET, then rallied the last two hours and closed higher.  SPY, QQQ, IWM each formed a bullish engulfing candle pattern.

After the close, NVDA -11.63, -6.85%, reported earnings of $1.16 below expectations of $1.29 while sales $8.29B beat $8.12B estimates and the stock traded lower. 

SPY up 3.48 at 397.37, on 91.4 million shares, below average volume, up on similar volume.
VIX down 1.08 at 28.37
QQQ up 4.02 at 291.26

AXP, BA, HC, CAT led the DJIA, 24 advancers, +6

GPS, SWN, BBY, BBWI led the SPX, 374 advancers

ZM, DOCU, INTU, PANW led the NDX, 89 advancers

The two-year trend term is up.  The one-year trend down a little.

Up:  IWM, QQQ, SPY, DIA,

Down:

Nine of eleven sectors were higher on Wednesday, led by XLY, XLE and XLC.

Consumer Discretionary leaders:  GPS, BBY, BBWI, NWL

Energy leaders:  SWN, APA, FANG, DINO

Communication Services leaders: LYV, DISH, NFLX, IPG

Advancers strengthened on Wednesday as advancers led 2,588 to 703 on the NYSE and led 3,292 led to 1,361 on the NASDAQ.

The SPY MFC green line is turned up at 17.2 and is short-term bullish.  SPY opened lower, reversed, and formed a bullish engulfing candle that closed above the HOLD.

Uptrend sectors:  XLE, XLU,

Neutral sectors:  XLP, XLV, XLB,

Down trend sectors: XLRE, XLY, XLI, XLK, XLF, XLC,

The 6-month intermediate trend is down.  The ten-day trend is down.

3-month Intermediate Term Market Trend: Down

3-day Short Term Market Trend: Up

89 of 100 NDX stocks closed higher on Wednesday.

23 NDX stocks are above their 30 DMA:   MNST, GILD, EA, NTES, NXPI, XEL, ADI, SNPS, AMGN, EXC, MCHP, REGN, SIRI, TMUS, VRTX, AEP, AMD, CHTR, CMCSA, KLAC, LRCX, SGEN, ZM,

NDX Stocks to Watch on Thursday:

Moving Above 30 DMA = 7

AMD, CHTR, CMCSA, KLAC, LRCX, SGEN, ZM,

Moving Below 30 DMA = 0

 

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SPY, QQQ Selloff to Support Followed By Reversal, Rally and Hammer Candle...Utilities, Staples, Real Estate Lead Sectors...

© 2022

 

SNAP lowered its business outlook Monday after the close and /ES futures fell over 45 points in 15 minutes at 6 pm ET as FB, GOOGL and other tech stocks dropped in sympathy.  On Tuesday SNAP -43.08% gapped lower and fell to a $12.79 close.

The SPX -32.27 opened lower, sold off 98 points, reversed and rallied to form a dragonfly doji.   The SPX ended giving back 44% of Monday’s 72 point rally..

SPY down 3.03 at 393.89, on 91.4 million shares, below average volume, down on higher volume.

VIX up .97 at 29.45

QQQ down 6.24 at 287.24

MCD, VZ, IBM, KO led the DJIA, 18 advancers, -9

AZO, LNT, SBAC, LUMN led the SPX, 209 advancers

ZM, ORLY, EA EXC led the NDX, 29 advancers

The two-year trend term is up.  The one-year trend down a little.

Up:  DIA,

Down: SPY, IWM, QQQ,

Five of eleven sectors were higher on Tuesday, led by XLU, XLP and XLRE the weakest.

Utilities leaders:  LNT, PNW, WEC, CMS

Consumer Staples leaders:  PM, CPB, TAP, K

Real Estate leaders: AMT, CCI, REG, DLR

Advancers weakened on Tuesday as decliners led 1,841 to 1,465 on the NYSE and led 3,394 led to 1,349 on the NASDAQ.

The SPY MFC green line is turned down at 14.2 and is short-term bearish.  SPY opened lower, sold off, reversed and formed a white body hammer candle at support.

Uptrend sectors:  XLE, XLU,

Neutral sectors:  XLP, XLV, XLB,

Down trend sectors: XLRE, XLY, XLI, XLK, XLF, XLC,

The 6-month intermediate trend is down.  The ten-day trend is down.

3-month Intermediate Term Market Trend: Down

3-day Short Term Market Trend: Up a little

29 of 100 NDX stocks closed higher on Tuesday.

16 NDX stocks are above their 30 DMA:   MNST, GILD, EA, NTES, NXPI, XEL, ADI, SNPS, AMGN, EXC, MCHP, REGN, SIRI, TMUS, VRTX, AEP,

NDX Stocks to Watch on Wednesday:

Moving Above 30 DMA = 1

AEP,

Moving Below 30 DMA = 7

AMD, BIDU, FISV, KLAC, LRCX, PDD, SGEN,

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Higher Open, Close Above the HOLD...JPM Lifts Outlook, Financials Leads All Sectors Higher...

© 2022

 

JPM raised their net interest income outlook before the open and the Financial Sector led all sectors higher on Monday. Expectations that the EU would raise interest rates lifted the Euro.

The SPX +72.39 opened higher, rallied and closed above the high of Friday’s hammer giving a channel bounce entry signal.  The SPX closed 163 points above Friday’s low of 3,810.

SPY up 7.29 at 396.92, on 76.3 million shares, below average volume, up on lower volume.

VIX down .95 at 28.48

QQQ up 4.80 at 293.48

 

JPM, V, AAPL, AXP led the DJIA, 27 advancers, +11

SWN, DE, SLB, TTWO led the SPX, 421 advancers

ROST, PANW ASML, AAPL led the NDX, 75 advancers

The two-year trend term is up.  The one-year trend down a little.

Up:  DIA, SPY, QQQ, IWM,

Down: 

All eleven sectors were higher on Monday, led by XLF, XLE and XLK the weakest.

Financial leaders:  JPM, C, BAC, CMA

Energy leaders:  SWN, SLB, APA, CTRA

Technology leaders: V, AAPL, MA, FISV

Advancers strengthened on Monday as advancers led 2,264 to 1,026 on the NYSE and led 2,762 led to 1,902 on the NASDAQ.

The SPY MFC green line is turned up at 16.8 and is short-term bullish.  SPY opened higher and closed above the HOLD which was a hammer candle at support.

Uptrend sectors:  XLE, XLU,

Neutral sectors:  XLP, XLV, XLB,

Down trend sectors: XLRE, XLY, XLI, XLK, XLF, XLC,

The 6-month intermediate trend is down.  The ten-day trend is down.

3-month Intermediate Term Market Trend: Down

3-day Short Term Market Trend: Up a little

75 of 100 NDX stocks closed higher on Monday.

22 NDX stocks are above their 30 DMA:   MNST, GILD, AMD, EA, NTES, NXPI, XEL, SGEN, ADI, KLAC, BIDU, PDD, SNPS, AMGN, LRCX, EXC, FISV, MCHP, RGEN, SIRI, TMUS, VRTX,

NDX Stocks to Watch on Tuesday:

Moving Above 30 DMA = 7

EXC, FISV, MCHP, REGN, SIRI, TMUS, VRTX,

Moving Below 30 DMA = 0

  

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