Thursday, May 12, 2022

SPY, QQQ, DIA Close Above its Lower Open after PPI Report...IWM Gains on Thursday...Communication Services, Health Care, Real Estate Lead Sectors...

© 2022
QQQ, SPY and DIA opened lower and closed higher than its open, but down for the day.  Each made a new 52-week low on Thursday.  IWM opened lower and closed up for the day.   
PPI report was 11.0% YoY above expectations of 10.7% YoY. Last month was 11.2% YoY.

SPY down .41 at 392.34, on 125.0 million shares, above average volume, down on lower volume.
down .79 at 32.56
QQQ down .69 at 291.15

HD, MMM, MRK, AMGN led the DJIA, 13 advancers, +5
TPR, DISH, ETSY, LUMN led the SPX, 295 advancers
LCID, SPLK, SGEN, MELI led the NDX, 63 advancers

The two-year trend term is up.  The one-year trend down a little.
Up:  IWM,
Down:   SPY, QQQ, DIA,

Six of eleven sectors were higher on Thursday, led by XLC, XLV and XLRE

Communication Services leaders:  DISH, LUMN, MTCH, NFLX

Health Care leaders:  MRNA, VTRS, IDXX, REGN
Real Estate leaders:  FRT, IRM, SBAC, O

Advancers strengthened on Thursday as advancers led 1,714 to 1,684 on the NYSE and led 2,654 to 2,214 on the NASDAQ.

The SPY MFC green line is 
pointed down at 6.1 and is short-term bearish.  SPY made a new 52-week low on Thursday, stayed below one-week and one-year support and formed a white body candle.    

Uptrend sectors:  XLE, XLU, XLP,
Neutral sectors:  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:
3-day Short Term Market TrendDown
63 of 100 NDX stocks closed higher on Thursday.
5 NDX stocks are above their 30 DMA:  KHC, MDLZ, MNST, GILD, HON,
NDX Stocks 
to Watch on Friday:
Moving Above 30 DMA = 2


Moving Below 30 DMA = 1


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