© 2022
The SPX -31.16 opened higher, reversed to
a choppy trading range on Wednesday and closed lower. Sellers were in control after the open with a
last 15-minute selloff to the downside on an above average volume day.
SPX finished August -4.24% below its July close, but +8.73% above its June low of 3,636.
This week’s releases include ISM Manufacturing
Index on Thursday and the Employment Situation report on Friday. Several Fed members speak this week including
Thomas Barkin and John Williams Tuesday, Loretta Mester Wednesday and Raphael
Bostic on Thursday.
TNX closed higher, while TLT, GLD, /CL and DXY moved lower.
SPY down 3.03 at 395.18, on 75.7 million shares, above average volume, down on higher
volume.
VIX down .34 at 25.87
QQQ down 1.75 at 299.27
AMGN, GS, MCD, WMT led the DJIA, 4 advancers, +2
SWN, LVS, MKTX, PYPL led the SPX, 87 advancers
PDD, BIDU, META, JD led the NDX 27 advancers
The two-year trend term is up. The
one-year trend down.
Up:
Down: QQQ, IWM, DIA, SPY,
One of eleven sectors was higher on Wednesday, led by XLC, XLRE and
XLP.
Communication Services leaders: META, NFLX, CMCSA, DISH
Real Estate leaders: WELL, WY, CCI, AMT
Consumer Staples leaders: KR, ADM, MNST, K
Advancers strengthened on Wednesday
as decliners led 2,192 to 1,004 on the NYSE and advancers led 2,638 to 1,856 on the NASDAQ.
The SPY
MFC green line is pointed down below 80 at 42.2 and is bearish. SPY opened higher, reversed lower, and
closed lower.
Uptrend sectors: XLY, XLU,
XLI, XLP,
Neutral sectors: XLK, XLRE, XLF, XLV, XLC, XLE,
Down trend sectors: XLB,
The 6-month intermediate
trend is down a little. The ten-day trend is down.
3-month Intermediate Term Market
Trend: Down a little
3-day Short Term Market Trend: Down
27 of 100 NDX stocks
closed higher on Wednesday
11 NDX stocks are above their 30 DMA: ROST,
XEL, TMUS, TEAM, WDAY, PANW, PDD, JD, GILD, BIDU, PYPL,
NDX Stocks to Watch on Thursday:
Moving Above 30 DMA = 2
BIDU, PYPL,
Moving Below 30 DMA = 3
ADP, AEP, CRWD,
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