© 2022
The SPX -28.02 opened lower, traded in a range, and closed lower
after FDX released lower than expected preliminary earnings estimate and the CEO
warned of a global recession. SPX, IWM, SPY,
QQQ, each formed a hammer candle pattern.
/CL and GLD closed higher, while DXY, TLT and TNX moved
lower.
SPY down 2.96 at 385.56, ex-dividend of 1.596, on 103.0 million shares, above average
volume, down on higher volume.
VIX up .03 at 26.30
QQQ down 1.78 at 289.32
HD, AMGN, JNJ, IBM led the DJIA, 14 advancers, +8
IRM, NEM, LEN, DHI led the SPX, 140 advancers
DLTR, NVDA, NFLX, MCHP led the NDX 41 advancers
The two-year trend term is up. The
one-year trend down.
Up:
Down: DIA, QQQ, SPY, IWM,
Two of eleven sectors were higher on Friday, led by XLP and XLRE.
Consumer Staples leaders: PM, CPB, MDLZ, K
Real Estate leaders: IRM, VNO, VTR, O
Advancers weakened on Friday as decliners led 2,346 to 861 on the NYSE and led 3,191 to 1,373 on the NASDAQ.
The SPY
MFC green line is pointed down at 17.6 and is short-term bearish. SPY opened lower, traded in a range,
and closed lower.
Uptrend sectors: XLY, XLU,
XLI, XLP, XLRE, XLF, XLV, XLK,
Neutral sectors: XLE, XLC, XLB,
Down trend sectors:
The 6-month intermediate
trend is down. The ten-day trend is down a little.
3-month Intermediate Term Market
Trend: Up a little
3-day Short Term Market Trend: Down
41 of 100 NDX stocks
closed higher on Friday
11
NDX stocks are above their 30 DMA: ROST,
PDD, GILD, LULU, ABNB, DXCM, SBUX, REGN, ZS, TSLA, NFLX,
NDX Stocks to Watch on Monday:
Moving Above 30 DMA = 0
Moving Below 30 DMA = 4
MAR, MELI, PANW, PYPL,
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