Tuesday, August 2, 2022

SPX Pauses Near Resistance Day 2...Earnings Season Continues...

© 2022


The SPX -27.44$ opened lower, traded in a range and closed lower.  DXY and TNX closed higher, while TLT, /CL and GLD moved lower.


153 SPX companies report EPS this weekMon: GPN, J, L, ON, PKI / AFL, ANET, ATVI, DVA, DVN, FANG, MOS, SBAC, SPG, VNO, WMB/ Tue: AME, CAT, CMI, CNP, DD, ETN, EXPD, HSIC, IDXX, INCY, IPGP, IT, ITW, LDOS, MAR, MPC, PEG, SEE, SPGI, TAP, WAT, WEC, XYL, ZBH, ZBRA / AIZ, AMD, CTRA, CZR, EA, EXR, FMC, GILD, MCHP, MTCH, OXY, PAYC, PEAK, PRU, PXD, PYPL, SBUX, SEDG, STE, VRSK/ Wed: ABC, BWA, CDW, CRL, CVS, DISH, ETR, EXC, GNRC, MRNA, NI, PNW, PPL, REGN, TT UA, UAA, YUM / ALB, ALL, ANSS, APA, ATO, BKNG, CDAY, CLX, DXC, EBAY, FLT, FTNT, HST, IR, LNC, LUMN, MCK, MET, MGM, MRO O, QRVO/ Thu: ABMD, APD, APTV, BALL, BDX, CBRE, CEG, CI, COP, DUK, EPAM, EVRG, FIS, FRT, HII, HWM, ICE, IRM, JCI, K, LLY, NRG, OGN, PARA, PENN, PH, PKI, PWR, SRE, TECH, VMC, WRK, XRAY, ZTS / AEE, AES, AMGN, CTVA, ED, EOG, EXPE, LNT, LYV, MNST, MSI, NLOK, PSA, REG, RSG, SWKS, VRTX, VTR, WBD/ Fri: TRMB, WAB, WDC

First day reactions this week:
Positive: UBER, PINS, IT, XYL, ZBH, MPC, AFL, AME, DVA, MOS, SBAC, FANG, CMI, PKI, GPN, = 13, QTD = 147

Neutral: CMI, CNP, IDXX WEC, ANET, ETN, PEG, MAR, ATVI

Negative: TAP, ZBRA, SEE, WAT, INCY, CAT, IPGP, LDOS, EXPD, HSIC, WMB, SPG, DD, VNO, SPGI, DVN, ITW, J, ON, L, = 20, QTD = 101



SPY down 2.71 at 408.06, on 63.4 million shares, below average volume, down on lower volume.
VIX up 1.09 at 23.93
QQQ down .94 at 314.33

CRM, TRV, WMT, UNH led the DJIA, 4 advancers, -8
IT, CZR DXCM, CCL led the SPX, 120 advancers
LCID, DXCM, ABNB, ISRG led the NDX 35 advancers

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


Up
Down:  IWM, QQQ, SPY, DIA,

All eleven sectors were lower on Tuesday, led by XLC, XLU and XLE.


Communication Services leadersMTCH, WBD, CHTR, GCI
Utilities leadersEIX, ES
Energy leadersMPC, BKR, DINO, VLO

Advancers were mixed on Tuesday as decliners led 1,753 to 1,450 on the NYSE and advancers led 2,402 to 2,202 on the NASDAQ.

The SPY MFC green line is pointed up at 95.2 and is short-term bullishSPY paused on Tuesday and held near Friday’s S1 level.


Uptrend sectors:    
Neutral sectors:   XLE, XLU, XLV, XLP, XLK, XLI, XLRE,
Down trend sectors:  XLC, XLY, XLF, 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 TrendUp a little

35 of 100 NDX stocks closed higher on Tuesday.

82 NDX stocks are above their 30 DMA:   MNST, COST, DXCM, OKTA, ORLY, KDP, PEP, VRSK, SIRI, VRSN, AAPL, CDNS, CPRT, IDXX, CTAS, QCOM, TSLA, ADI, ROST, SWKS, TXN, ALGN, AMZN, ATVI, FISV, ISRG, MCHP, MU, NFLX, NXPI, ODFL, SNPS, KLAC, SPLK, ABNB, ADBE, ADP, ADSK, AMAT, AMD, ANSS, ASML, AVGO, CSCO, CSX, EBAY, INTU, LRCX, MAR, MDLZ, MELI, MRVL, NVDA, PAYX, PCAR, PYPL, EA, ILMN, HON, AEP, EXC, XEL, TMUS, BKNG, CRWD, DOCU, GOOGL, LULU, MSFT, MTCH, OKTA, TEAM, WBA, WDAY, DLTR, FAST, FTNT, CTSH, DDOG, PANW, LCID, SGEN, ZS,


NDX Stocks to Watch on Wednesday:
Moving Above 30 DMA = 3
LCID, SGEN, ZS,


Moving Below 30 DMA = 0


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