© 2022
The SPX -27.27 opened higher, sold off for the first three and a half hours lower. Today was Columbus
Day, banks, federal offices, bond markets were closed and trading volumes was
lighter. SPY and IWM closed
above short-term support while QQQ made a new YTD low and closed just
below short-term support.
Fed minutes released Wednesday 2pm ET, CPI released
Thursday 8:30 am ET and earnings season starts Friday morning with EPS reports
from JPM, C, MS, WFC, UNH, PNC, FRC and USB.
Charles Evans and Lael Brainard spoke
today. Fed speaker schedule is showing five
additional presentations this week.
DXY and TNX closed higher, while TLT, /CL and GLD
moved lower.
SPY down 2.77 at 360.02, on 76.0 million shares, below average volume, down on lower volume.
VIX up 1.09 at 32.45
QQQ down 2.69 at 266.41
WBA, MRK, BA, AMGN led the DJIA, 13 advancer, +12
MKC, MOS, AAP, KR led the SPX, 186 advancers
MRNA, KHC, ODFL NFLX led the NDX 31 advancers
The two-year trend term is up. The
one-year trend down.
Up:
Down: DIA, IWM, SPY, QQQ,
Four of eleven sectors were higher on Monday, led by XLP XLI and
XLB.
Consumer Staples leaders: WBA, MKC, KHC, KR
Industrials leaders: ODFL, LHX, BA, NOC
Materials leaders: MOS, NUE, ALB, SEE
Advancers strengthened on Monday as decliners led 2,143 to 1,032 on the NYSE and led 2,947 to 1,678 on the NASDAQ.
The SPY
MFC green line turned down at 20.9 and is short-term
bearish. SPY opened
lower and closed lower.
Uptrend sectors: XLE,
Neutral sectors: XLY, XLF, XLI, XLB,
Down trend sectors: XLK, XLV, XLU, XLP, XLRE, XLC,
The 6-month intermediate
trend is down. The ten-day trend is down a little.
3-month Intermediate Term Market
Trend: Down
3-day Short Term Market Trend: Down
31 of 100 NDX stocks
closed higher on Monday
12
NDX stock are above their 30 DMA: REGN,
BIIB, VRTX, FTNT, MNST, ORLY, DLTR, DXCM, GILD, ILMN, PCAR, ODFL,
NDX Stocks to Watch on Tuesday:
Moving Above 30 DMA = 1
ODFL,
Moving Below 30 DMA = 1
ZS,
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