SPY Lower Again on Lightest 2022 Trading Volume...Energy, Utilities Lead Sectors...MSFT, GOOGL, CMG Gain in After-hours...

 © 2022

 

The SPX -45.79, opened and closed lower on day one of the FOMC meeting.  DXY and TLT closed higher, while TNX, /CL and GLD moved lower.

The FOMC meets Tuesday and Wednesday with their announcement Wednesday at 2 p.m. and press conference at 2:30 p.m. ET.

A total of 175 SPX companies will report EPS next week including GOOGL, MSFT on Tuesday, META on Wednesday, AAPL, AMZN on Thursday.

175 SPX companies report EPS this week:  NEM, BRO, CDNS, FFIV, NEM, NXPI, PKG, UHS, WHR/ Tue: ADM, CNC, ECL, FISV, GE, GLW, GM, KMB, KO, MCD, MCO MMM, MSCI, NVR, PCAR, PHM, PNR, RTX, UPS, AMP, BXP, CB, CMG, ENPH, EQR, ESS, FE, GOOG, GOOGL, IEX, JNPR, MDLZ, MSFT, SYK, TER, TXN, UDR, V, ZION/ Wed: ADP, AEP, APH, AVY, BA, BMY, BSX, CME, GD, GPC, GRMN, HES, HLT, HUM, IVZ, KHC, LW, NSC, ODFL, OTIS, ROK, ROL, SHW, TDY, TEL, TMUS, WM, ALGN, AVB, AWK, CHRW, CINF, CTSH, DRE, EQIX, ETSY, F, FBHS, FTI, GL, HOLX, LRCX, MAA, META, MOH, NOW, ORLY, PTC, QCOM, RE, RJF, TYL, URI, VICI/ Thu: ALLE, AMT, AOS, BAX, BEN, CARR, CMCSA, CMS, DTE, FTV, HON, HSY, IP, KDP, KIM, LH, LIN, LKQ, LUV, MA, MAS, MLM, MO, MRK, NLSN, NOC, PFE, RCL, SO, SWK, TFX, TMO, TROW, TXT, VLO, WST, WTW, XEL, AAPL, AJG, AMZN, BIO, CE, CPT, DLR, DXCM, EIX, EMN, ES, EW, HIG, INTC, KLAC, LHX, MHK, MTD, VFC, VRSN, WELL/ Fri: ABBV, AON, CBOE, CHD, CHTR, CL, CVX, GWW, LYB, NWL, PG, PSX, WY, XOM

First day reaction this week:

Positive: MMM, GE, ADM, FISV, MCD, FFIV, MCD, PNR WHR, CDNS KO, CNC, GLW, PCAR, MSCI = 15, QTD = 55

Neutral: KMB, NXPI, UHS

Negative: NEM, PKG, RTX, PHM, GM, UPS, ECL, NVR, MCO, BRO= 10, QTD = 45

EPS reactions AMC Tuesday:

CMG +118.57, 9.01%, GOOGL +5.11, 4.87%, MSFT +10.00, 3.98%,

Retail stocks including COST, DLTR, DG, TGT fell in sympathy with WMT after it lowered its 2022 guidance due to food and fuel inflation, markdowns, and a potential $1 billion currency impact.  

 

SPY down 4.68 at 390.89, on 52.9 million shares, lightest daily volume in 2022, below average, down on lower volume.
VIX up 1.33 at 24.69

QQQ down 5.90 at 294.37

MMM, MCD, KO, AMGN led the DJIA, 12 advancers, -6

GE, ADM, ARE, NEM led the SPX, 180 advancers

FISV, SGEN, CDNS, VRTX led the NDX 27 advancers

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

Up:  
Down:  IWM, DIA, SPY, QQQ,

Three of eleven sectors were higher on Tuesday, led by XLU, XLV and XLRE.

Energy leaders:  CTRA, OKE, SWN, DINO

Utilities leaders:  WEC, ED, CNP, LNT

Financial leaders:  MSCI, CINF, SPGI, NDAQ

Advancers weakened on Tuesday as decliners led 1,964 to 1,223 on the NYSE and led 2,865 to 1,662 on the NASDAQ.

The SPY MFC green line is pointed up at 66.3 and is short-term bullish.  SPY pulled back to short-term support on light volume.

Uptrend sectors:    

Neutral sectors:   XLE, XLU, XLV, XLP,

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

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: Down

27 of 100 NDX stocks closed higher on Tuesday.

74 NDX stocks are above their 30 DMA:   SGEN, MNST, VRTX, AZN, COST, DXCM, OKTA, ORLY, KDP, KHC, PEP, VRSK, AMGN, SIRI, VRSN, AAPL, CDNS, CPRT, IDXX, CTAS, QCOM, TSLA, ADI, CHTR, ROST, SWKS, TXN, ALGN, AMZN, ATVI, CMCSA, FISV, ISRG, MCHP, MU, NFLX, NXPI, ODFL, SNPS, INTC, KLAC, SPLK, ABNB, ADBE, ADP, ADSK, AMAT, AMD, ANSS, ASML, AVGO, CSCO, CSX, EBAY, INTU, LRCX, MAR, MDLZ, MELI, MRVL, NVDA, PAYX, PCAR, PYPL, CTSH, EA, ILMN, NTES, HON, AEP, EXC, XEL, JD, TMUS, BIIB,

NDX Stocks to Watch on Wednesday:
Moving Above 30 DMA = 1

BIIB,

Moving Below 30 DMA = 14

BKNG, CRWD, DLTR, DOCU, FTNT, LCID, LULU, META, MSFT, OKTA, PANW, TEAM, WDAY, ZS,

 

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