Back to June Support as SPX Falls 78 points, Reverses Wednesday's 71 point Bounce...Energy Unchanged as Ten Sectors Fall...

© 2022

The SPX -78.57  opened lower and closed lower reversing Wednesday’s 71-point bounce.  SPY, QQQ and IWM each closed back near Tuesday’s close at support.

TNX closed higher, while DXY, /CL, GLD and TLT moved lower.

SPY down 7.74 at 362.79, on 112.9 million shares, above average volume, down on slightly higher volume. 

VIX up 1.66 at 31.84

QQQ down 8.07 at 271.87

TRV, V led the DJIA, 2 advancers, -26

RE, WRB, STE, CB, FDX led the SPX, 39 advancers

OKTA, AZN, VRTX led the NDX 3 advancers

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

Up:

Down:  DIA, SPY, IWM, QQQ,

One sector was unchanged, and ten sectors were lower on Thursday, led by of XLE, XLV and XLF.

Energy leaders:  DVN, SLB, FANG, OXY

Health Care leaders:  STE, CRL, ELV, WAT

Financial leaders:  RE, WRB, CB, TRV

Advancers weakened significantly on Thursday as decliners led 2,701 to 552 on the NYSE and led 3,597 to 1,111 on the NASDAQ.

The SPY MFC green line turned up at 6 and is short-term bullish.  SPY opened lower and closed lower.

Uptrend sectors:   XLY,

Neutral sectors:   XLE,

Down trend sectors:  XLU, XLF, XLI, XLK, XLP, XLV, XLB, XLRE, XLC,

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

3-month Intermediate Term Market Trend: Down

3-day Short Term Market Trend: Sideways

3 of 100 NDX stocks closed higher on Thursday

6 NDX stock are above their 30 DMA:   REGN, BIIB, NFLX, ORLY, VRTX, ZS,

NDX Stocks to Watch on Friday:

Moving Above 30 DMA = 0

Moving Below 30 DMA = 3

MNST, PDD, SBUX,

Add Comments here: