SPX Lower in Horizontal Bull Flag Consolidation Range, Day 7...Energy Leads Sectors...

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The SPX -44.91 opened and closed lower, while staying inside the horizontal trading range of the past seven days.  TNX 30.29 moved above 3%. 

The broad market SPY continues in a horizontal bull flag after a horizontal BO Friday, May 27.  Because the two-week trend is up, and the new support area held for the past six days, the trend is more likely to continue to the upside.

Keep your eye on the trend, support and resistance and momentum for better insight into what the institutions are doing.

VICI replaced CERN today, Wednesday June 8

FB will change symbol to META effective Thursday, June 9.

CPI report Friday BMO June 10.

FOMC meeting June 14 – 15.

SPY down 4.52 at 411.22, on 64.3 million shares, below average volume, down on higher volume.

VIX down .06 at 23.96

QQQ down 2.23 at 307.64

CAT, CRM, NKE, CVX, led the DJIA, 4 advancers, -21

LVS, WYNN, ETSY, KMX led the SPX, 52 advancers

PDD, JD, LCID, NTES led the NDX, 29 advancers

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

Up: 

Down: QQQ, DIA, SPY, IWM,

One of eleven sectors was higher on Wednesday, led by XLE, XLC and XLY.

Energy leaders:  SLB, XOM, HAL, CVX

Communication Services leaders:  NFLX, CHTR, TWTR, PARA

Consumer Discretionary leaders: LVS, WYNN, ETSY, KMX 

Advancers weakened on Wednesday as decliners led 2,378 to 841 on the NYSE and led 2,592 led to 2,081 on the NASDAQ.

The SPY MFC green line is pointed up at 56.9 and is short-term bullish.  SPY closed lower and continues in a seven-day horizontal bull flag.

Uptrend sectors:  XLE, XLU, XLB,

Neutral sectors:  XLP, XLV,

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

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

3-month Intermediate Term Market Trend: Down a little

3-day Short Term Market Trend: Sideways

29 of 100 NDX stocks closed higher on Wednesday.

63 NDX stocks are above their 30 DMA:   MNST, EA, NTES, ADI, SNPS, AMGN, EXC, MCHP, SIRI, TMUS, VRTX, AMD, CHTR, CMCSA, KLAC, LRCX, SGEN, ZM, ADBE, ADSK, AMAT, BIDU, BKNG, CDNS, DLTR, FISV, FTNT, LCID, PDD, ADP, ASML, CTAS, DOCU, INTU, JD, MAR, MRVL, MTCH, NVDA, PCAR, QCOM, SBUX, AMZN, CPRT, FAST, GOOGL, HON, ORLY, PAYX, PYPL, VRSN, CRWD, MRNA, PANW, BIIB, DDOG, MSFT, OKTA, SPLK, TEAM, ZS, FB, LULU

NDX Stocks to Watch on Thursday:

Moving Above 30 DMA = 2

FB, LULU,  

Moving Below 30 DMA = 11

AEP, ANSS, ATVI, AVGO, AZN, KDP, MU, NXPI, ODFL, SWKS, XEL,

 

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