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

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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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