SPX Pulls Back Before CPI Wednesday Morning...Energy, Utilities, Real Estate Lead Sectors...

© 2022

The SPX -17.59 opened lower and closed slightly lower in a 7-day narrow trading range just below 3-month resistance.  TNX, GLD and /CL closed higher, while DXY and TLT moved lower.

IWM tests Monday’s BO and closed just below 3-month resistance.

CPI will be released BMO Wednesday morning at 8:30 am ET.

SPY down 1.64 at 411.35, on 44.9 million shares, below average volume, down on lower volume.  Tuesday was the lightest SPY volume of 2022.

VIX up .48 at 21.77
QQQ down 3.63 at 317.08

DIS, DOW, WBA, MRK led the DJIA, 17 advancers, -1

PENN, GPS, GM, APTV led the SPX, 2.20 advancers

TEAM, LCID, WDAY, NFLX led the NDX 25 advancers

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

Up:

Down:  DIA, SPY, QQQ, IWM,

Four of eleven sectors were higher on Tuesday, led by XLE, XLU and XLRE.

Energy leaders:  VNO, PEAK, SPG, KIM

Utilities leaders:  PARA, NFLX, LUMN, DIS

Real Estate leaders:  SEE, ALB, CTVA, PKG

Advancers weakened on Tuesday as decliners led 2,072 to 1,137 on the NYSE and led 3,314 to 1,338 on the NASDAQ.

The SPY MFC green line is pointed down slightly in the upper zone at 93.1 and is short-term bullish.  SPY opened lower and closed slightly lower in a 7-day narrow trading range.

Uptrend sectors:   XLK, XLY, XLU,

Neutral sectors:   XLRE, XLI, XLV, XLC, XLF, XLP,

Down trend sectors:  XLE, XLB,

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

3-month Intermediate Term Market Trend: Up a little

3-day Short Term Market Trend: Sideways

25 of 100 NDX stocks closed higher on Tuesday

83 NDX stocks are above their 30 DMA:   MRNA, COST, DXCM, 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, OKTA, TEAM, WBA, WDAY, FAST, CTSH, DDOG, ZS, BIIB, META, REGN, DLTR, VRTX, AMGN, GILD, KHC,

NDX Stocks to Watch on Wednesday:

Moving Above 30 DMA = 2

GILD, KHC,

Moving Below 30 DMA = 2

SGEN, ZM,

 

Add Comments here: