SPX Continues Lower on Volatile Range Trading...Utilities, Industrials Lead Sectors...

© 2022

Thursday morning the SPX -33.45 opened lower after the Personal Income & Outlays report BMO, traded in a volatile range and formed a spinning top candle pattern.  TLT rose while DXY, /CL, GLD and TNX moved lower. 

SPY down 3.09 at 377.25, on 112.5 million shares, above average volume, down on higher volume.

VIX up .55 at 28.71

QQQ down 3.52 at 280.28

TRV, PG, HON, IBM led the DJIA, 8 advancers, -6

ENPH, PWR, SEDG, NOC led the SPX, 158 advancers

EXC, COST, VRSK CHTR led the NDX, 22 advancers 

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

Up: 

Down:  DIA, IWM, SPY, QQQ,  

Four of eleven sectors were higher on Thursday, led by XLU, XLI and XLRE.

Utilities leaders:  AES, EXC, AWK, NEE,

Industrials leaders:  PWR, NOC, RTX, LMT

Real Estate leaders:  DLR, 

Advancers strengthened slightly on Thursday as decliners led 2,012 to 1,284 on the NYSE and led 2,825 led to 1,918 on the NASDAQ.

The SPY MFC green line turned down at 38.4 and is short-term bearish.  SPY pulled back for a third day and formed a spinning top candle and is a potential channel bounce setup.

Uptrend sectors:

Neutral sectors:  XLE,

Down trend sectors: XLV, XLP, XLU, XLY, XLB, XLI, XLK, XLF, XLRE, XLC,

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

3-month Intermediate Term Market Trend: Down

3-day Short Term Market Trend: Down

22 of 100 NDX stocks closed higher on Thursday.

24 NDX stocks are above their 30 DMA:   SGEN, ZM, BIDU, PDD, JD, MNST, BIIB, CRWD, VRTX, DLTR, TEAM, TMUS, ATVI, AZN, COST, DXCM, OKTA, ORLY, KDP, KHC, MDLZ, ODFL, PEP, VRSK,

NDX Stocks to Watch on Friday:

Moving Above 30 DMA = 0

Moving Below 30 DMA = 6

AMGN, CDNS, DDOG, GILD, INTU, ZS,

 

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DIA, QQQ Rise on SPX Narrow Range Pause Day...SPY, QQQ Form Hammer Candle...Health Care, Staples Lead Sectors...

© 2022

The SPX -2.72 opened flat and traded in a narrow range and formed a hammer candle pattern on Wednesday.   DXY and TLT rose while /CL, GLD and TNX moved lower on Wednesday. 

Powell’s comments this morning on the ECB Economic Policy Panel Discussion had no directional impact on the broad market today. 

SPY down .31 at 380.34, on 65.6 million shares, below average volume, down on lower volume.
VIX down .20 at 28.16
QQQ up .26 at 283.80

 

MCD, MSFT, UNH, HD led the DJIA, 14 advancers, +11

GIS, MOH, ABMD, SJM led the SPX, 205 advancers

MNST, IDXX, META, ODFL led the NDX, 55 advancers

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

Up:  DIA, QQQ,

Down:  SPY, IWM,  

Five of eleven sectors were higher on Wednesday, led by XLV, XLP and XLC.

Health Care leaders:  MOH, ABMD, IDXX, ZTS

Consumer Staples leaders:  GIS, MNST, SJM, CLX

Communication Services leaders:  META, T, CHTR, ATVI

Advancers strengthened slightly on Wednesday as decliners led 2,060 to 1,145 on the NYSE and led 2,818 led to 1,631 on the NASDAQ.

The SPY MFC green line is pointed up at 38.6 and is short-term bullish.  SPY after a one-day pullback formed a narrow range hammer and is a potential channel bounce setup.

Uptrend sectors:  

Neutral sectors:  XLE,

Down trend sectors: XLV, XLP, XLU, XLY, XLB, XLI, XLK, XLF, XLRE, XLC,

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

3-month Intermediate Term Market Trend: Down

3-day Short Term Market Trend: Down

55 of 100 NDX stocks closed higher on Wednesday.

30 NDX stocks are above their 30 DMA:   SGEN, ZM, BIDU, PDD, JD, MNST, BIIB, CRWD, VRTX, DLTR, TEAM, TMUS, ZS, ATVI, AZN, CDNS, COST, DDOG, DXCM, OKTA, ORLY, KDP, AMGN, GILD, INTU, KHC, MDLZ, ODFL, PEP, VRSK,

NDX Stocks to Watch on Thursday:

Moving Above 30 DMA = 8

AMGN, GILD, INTU, KHC, MDLZ, ODFL, PEP, VRSK,

Moving Below 30 DMA = 3

ADP, FTNT, GOOGL,

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Higher Open followed by Broad Selloff after Weaker than Expected Consumer Confidence Report...

 © 2022

The SPX -78.56 opened higher after futures rose overnight, reversed after the 10 a.m. ET Consumer Confidence report of 98.7 below estimate of 101.0 and closed below Monday’s low for a bear flag price pattern.   Oil, DXY and TLT rose on Tuesday and GLD moved lightly lower. 

Powell speaks on a Panel Discussion at 9 a.m. ET Wednesday.

SPY down 7.94 at 380.65, on 86.6 million shares, below average volume, down on higher volume.

VIX up 1.41 at 28.36

QQQ down 8.91 at 283.54

CVX, DOW, UNH led the DJIA, 3 advancers,

HES, OXY, MRO, FANG led the SPX, 13 advancers

QCOM, XEL, SGEN, AEP led the NDX, 4 advancers

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

 

Up:   

Down:  DIA, IWM, SPY, QQQ,

One of eleven sectors was higher on Tuesday, led by XLE, XLU and XLF.

Energy leaders:  HES, OXY, MRO, FANG 

Advancers weakened on Tuesday as decliners led 2,240 to 1,020 on the NYSE and led 3,358 led to 1,216 on the NASDAQ.

The SPY MFC green line is pointed up at 36.5 and is short-term bullish.  SPY after a five-day counter-trend bounce, rolled over and closed below Monday’s low.

Uptrend sectors:  

Neutral sectors:  XLE,

Down trend sectors: XLP, XLU, XLB, XLV, XLI, XLK, XLF, XLRE, XLY, XLC,

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

3-month Intermediate Term Market Trend: Down

3-day Short Term Market Trend: Up a little

4 of 100 NDX stocks closed higher on Tuesday.

26 NDX stocks are above their 30 DMA:   SGEN, ZM, BIDU, PDD, JD, MNST, BIIB, CRWD, VRTX, DLTR, TEAM, TMUS, ZM, ATVI, AZN, CDNS, COST, DDOG, DXCM, FTNT, GOOGL, OKTA, ORLY, ADP, ADSK, KDP,

NDX Stocks to Watch on Wednesday:

Moving Above 30 DMA = 0

Moving Below 30 DMA = 25

AAPL, AMGN, AMZN, ANSS, CPRT, CTAS, GILD, INTU, KHC, LCID, LULU, MDLZ, MSFT, MTCH, NFLX, ODFL, PANW, PAYX, PEP, SIRI, SNPS, TSLA, VRSK, VRSN, WBA,

 

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SPX Hits New 52-week Low...Bear Market Continues to Claw...Volatility Rises...

© 2022

The SPX -123.22 opened lower after futures dropped about 80 points overnight and continued lower to make a new 52-week low.   TNX 33.07 opened higher and closed lower while bonds traded inversely, opened lower and closed higher. 

Reportedly, continued concerns of recession fueled Thursday’s selloff.

SPY down 12.55 at 366.65, on 134.4 million shares, above average volume, down on higher volume.

VIX up 3.33 at 32.95

QQQ down 11.41 at 271.39

WMT, PG, MRK, JNJ led the DJIA, 4 advancers, -17

NEM, CME, WMT, CHD, ABBV led the SPX, 13 advancers

AZN, MNST led the NDX, 2 advancers

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

Up: 

Down:  DIA, SPY, QQQ, IWM,

All eleven sectors were lower on Tuesday, led by XLP, XLV and XLU.

Advancers weakened on Thursday as decliners led 3,020 to 334 on the NYSE and led 3,886 led to 892 on the NASDAQ.

The SPY MFC green line is pointed down at 9.1 and is bearish.  SPY after a one-day counter-trend bounce, rolled over and fell to a new 52-week low.

Uptrend sectors:  XLE,

Neutral sectors:  

Down trend sectors: XLP, XLU, XLB, XLV, XLI, XLK, XLF, XLRE, XLY, 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: Down

2 of 100 NDX stocks closed higher on Thursday.

6 NDX stocks are above their 30 DMA:   SGEN, ZM, BIDU, PDD, JD, MNST,

NDX Stocks to Watch on Friday:

Moving Above 30 DMA = 0

Moving Below 30 DMA = 6

CRWD, DLTR, MTCH, NTES, PCAR, SNPS,

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FOMC Hikes Rates .75% to 1.75%...Stocks Rally in Broad Rally after 5-day Selloff...Discretionary, Real Estate, Communications Lead Sectors...

© 2022

The SPX +54.51 opened higher, traded in a range until the FOMC press conference and the rose to close above the HOLD.  TNX 33.95 pulled back .88 cents, after rising five straight days. 

The FOMC raised fed funds by 75 bps to 1.75%, which combined with its press conference provided a catalyst for buyers to take control after a 5-day selloff.

 

SPY up 5.33 at 379.20, on 125.6 million shares, above average volume, up on higher volume.

VIX down 3.07 at 29.62

QQQ up 6.89 at 282.80

BA, MSFT, GS, CRM led the DJIA, 21 advancers, +10

WBD, ETSY, NCLH, TSLA led the SPX, 395 advancers

MELI, NFLX, TEAM, MRNA led the NDX, 92 advancers

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

Up:  QQQ, IWM, SPY, DIA,

Down:  

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

Consumer Discretionary leaders:  ETSY, NCLH, TSLA, AMZN

Real Estate leaders:  DRE, PLD, VICI, PEAK

Communication Services leaders: NFLX, WBD, MTCH, TTWO

Advancers strengthened on Wednesday as advancers led 2,403 to 878 on the NYSE and led 3,412 led to 1,260 on the NASDAQ.

The SPY MFC green line is pointed down at 16.9 and is bearish.  SPY is a counter-trend bounce off its 52-week low after the Fed raised fed funds 75bps to 1.75%.

Uptrend sectors:  XLE,

Neutral sectors:   XLP,

Down trend sectors: XLU, XLB, XLV, XLI, XLK, XLF, XLRE, XLY, 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: Down

92 of 100 NDX stocks closed higher on Wednesday.

12 NDX stocks are above their 30 DMA:   NTES, SGEN, ZM, BIDU, DLTR, PDD, JD, MNST, CRWD, MTCH, PCAR, SNPS,

NDX Stocks to Watch on Thursday:

Moving Above 30 DMA = 4

CRWD, MTCH, PCAR, SNPS,

Moving Below 30 DMA = 0

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Selling Momentum Slows as Positive Breadth Improves...QQQ Closes Higher...Tech and Energy Lead Sectors...

© 2022

The SPX -14.15 opened higher, closed slightly lower.  TNX 34.83 rose and again closed at its highest level in more than five years. 

FOMC meeting continues tomorrow June 14 – 15 with announcement at 2 pm ET and press conference at 2:30 pm ET.  /ZQ trading shifted further on Tuesday indicating an increase of market participants and a 97.3% probability of a raise of .75 bps on Wednesday.

SPY down 1.13 at 373.87, on 103.9 million shares, average volume, down on lower volume.

VIX down 1.33 at 32.69

QQQ up .50 at 275.91

BA, MSFT, AAPL, V led the DJIA, 11 advancers, +10

FDX, ORCL, CHRW, LVS led the SPX, 173 advancers

PDD, BIDU, JD, MNST led the NDX, 46 advancers

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

Up:  QQQ,

Down:  SPY, DIA, IWM,

Two of eleven sectors were higher on Tuesday, led by XLK, XLE and XLY.

Technology leaders:  ORCL, QRVO, ZBRA, GPN

Energy leaders:  OXY, PSX, DVN, VLO

Consumer Discretionary leaders: LVS, F, GM, MGM

Advancers strengthened on Tuesday as decliners led 2,076 to 1,242 on the NYSE and led 2,698 led to 2,029 on the NASDAQ.

The SPY MFC green line is pointed down at 26.4 and is bearish.  SPY is a break of support making another 52-week low.

Uptrend sectors:  XLE,

Neutral sectors:   XLP,

Down trend sectors: XLU, XLB, XLV, XLI, XLK, XLF, XLRE, XLY, 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: Down

46 of 100 NDX stocks closed higher on Tuesday.

8 NDX stocks are above their 30 DMA:   NTES, SGEN, ZM, BIDU, DLTR, PDD, JD, MNST,

NDX Stocks to Watch on Wednesday:

Moving Above 30 DMA = 1

MNST,   

Moving Below 30 DMA = 0

 

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SPX Hits 52-week Low & Bear Market Threshold on Broad Selloff...All Sectors Lower...FOMC Set to Continue Raising Interest Rates...

© 2022

Futures sold off for the second straight day after the CPI Report came in higher-than-expected on Friday.  The SPX -151.23 opened lower, closed lower making a new 52-week low and ending the day in a bear market, down more than 20% from its high.  TNX 33.66 closed at its highest level in more than five years. 

FOMC meeting starts tomorrow June 14 – 15.  /ZQ trading shifted today suggesting an increase of market participants seeing a raise of .75 bps on Wednesday.

SPY down 14.80 at 375.00, on 170.0 million shares, above average volume, down on higher volume.

VIX up 6.27 at 34.02

QQQ down 13.43 at 275.41

 

MCD led the DJIA, 1 advancer, -0

CME, TFC, DRE, DPZ led the SPX, 5 advancers

SGEN led the NDX, 1 advancer

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

Up: 

Down: DIA, SPY, QQQ, IWM,

All eleven sectors were lower on Monday, led by XLP, XLF and XLI.

Advancers weakened on Monday as decliners led 3,173 to 179 on the NYSE and led 4,245 led to 611 on the NASDAQ.

The SPY MFC green line is pointed down at 39.7 and is bearish.  SPY is a break of support making a 52-week low.

Uptrend sectors:  XLE,

Neutral sectors:   XLP,

Down trend sectors: XLU, XLB, XLV, XLI, XLK, XLF, XLRE, XLY, 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: Down

1 of 100 NDX stocks closed higher on Monday.

7 NDX stocks are above their 30 DMA:   NTES, SGEN, ZM, BIDU, DLTR, PDD, JD,

NDX Stocks to Watch on Tuesday:

Moving Above 30 DMA = 0

Moving Below 30 DMA = 9

CDNS, CHTR, CRWD, EA, FTNT, PCAR, SBUX, SNPS, TMUS,

 

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