Friday, October 28, 2022

Mega-Cap Earnings Fall Short, Market Rises as Earnings Continue Strong...Technology, Utilities, Communication Lead Sectors...FOMC Nov. 2...

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The SPX +93.76 opened flat, trend up and closed higher.  MSFT, GOOGL META and AMZN had day one negative earnings reactions while AAPL had a positive reaction and the broad market finished higher for the week.

QQQ closed higher after a positive earnings reaction from AAPL and a negative reaction from AMZNDIA, SPY and IWM continued to rise above their reversal breakout pattern.

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

FOMC announcement Wednesday, Nov. 2 at 2pm ET.


168 SPX companies report EPS next week:
Monday: GPN, HWM, L, ON PCG, PEG, XRAY, AFL, ANET, AWK, CINF, HOLX, NXPI, SBAC, SYK, VNO, WMB
Tuesday:

First day reaction: Q3 through Oct 28…
Positive:
DXCM, GILD, INTC, VRSN, VRTX, AAPL, PFG, TMUS, GWW, AJG, COF, NEE, VICI, CHTR, XOM, HIG, AON, CL, CVX,  NOW, CAT, RE, RJF, ALLE, ORLY, MCD, HON, LKQ, LUV, SPGI, TXT, CARR, TFX, MAA, CMCSA, F, MRK, CMS, XEL, FBHS, UHS, ROL, ENPH, CSGP, AMP, HES, V, TDY, IEX, TER, NSC, JNPR, ROP, BMY IQV, CB, BSX, CNC, MSCI, NVR, SYF, ARE, MCO, DFS, PHM, GM, SHW, PNR, ZION, KMB, ITW, KO, ADM, HAL, SLB, HBAN, CSX, LRCX, T, DGX, LVS, IBM, FCX, NUE, NFLX, ISRG, BKR, UAL, TRV, ELV, LMT, SBNY, GS, BAC, BK, USB, WFC, JPM, DAL, DPZ, FAST, PGR, WBA, BLK, PEP = 105 SHOP, PINS, FSLR,
Neutral:
EMN, WY, CPRT, SWN, CHD, KIM, BWA, AMT, NOC, WTW, KLAC, URI, TWTR, EQT, DTE, MA, AOS, AEP, DLR, LIN, UDR, IP, SO, APH, ODFL, GRMN, GD, KHC, HLT, OTIS, MMM, IVZ, PKG, PCAR, UPS, BIIB, GE, IPG, WHR, DOW, NVR, GPC, PG, JBHT, CFG, STT, JNJ, C, UNH = 49
Negative:
DVA, EW, BIO, AMZN, RMD, LYB, NWL, ABBV, PXD, LHX, MHK, RSG, META, ALGN, WST, INVH, BAX, LH, MOH, FTI, SWK, CBRE, ESS, FISV, TYL, VFC, WDC, TROW, GL, MO, KDP, BRO, GOOG, GOOGL, BA, STX, AVY, MSFT, FFIV, CMG, MAS, EQR, BXP, FE, WM, TXN, TMO, CME, FTV, ADP, CDNS, WRB, VLO, GLW, RTX, SIVB, RHI, HCA, VZ, AXP RF, UNP, TSLA, FITB, EFX, DHR, PPG, SNA, KMI, POOL, ALK, KEY, AL, TSCO, CCI, DOV, PM, MMC, MTB, NTRS, CMA, ABT, PLD, MTKX, NDAQ, OMC, TFC, HAS, FRC, SCHW, MS, PNC = 91 SNAP, WOLF


SPY up 9.04 at 389.02, on 100.3 million shares, above average volume, up on higher volume.
VIX down 1.64 at 25.75, volatility continues elevated.
QQQ up 8.35 at 281.22

INTC, AAPL, HON, VZ led the DJIA, 29 advancers, +10
DXCM, PFG, TMUS, GWW, RE led the SPX, 451 advancers
DXCM, GILD, VRSN, VRTX led the NDX 88 advancers

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

UpQQQ, DIA, SPY, IWM,
Down:

All eleven sectors were higher on Friday, led by XLK, XLU and XLC as sector momentum was up strong.

Technology leaders:  INTC, VRSN, AAPL, AMD
Utilities leadersNEE, DTE, PEG, XEL
Communication Services leadersTMUS, LUMN, GOOGL, VZ

Advancers weakened on Friday as advancers led 2,422 to 757 on the NYSE and led 3,177 to 1,440 on the NASDAQ.

The SPY MFC green line is pointed up at 70.2 and is short-term bullishSPY opened flat and closed higher.

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

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


88 of 100 NDX stocks closed higher on Friday

77 NDX stock are above their 30 DMA:   BIIB, ORLY, DXCM, GILD, PCAR, AMGN, KHC, PEP, SIRI, ABNB, ADSK, ILMN, NFLX, VRSN, EA, FTNT, HON, ISRG, WBA, ADBE, BKNG, ZM, ADP, ASML, CTAS, CTSH, CSCO, DLTR, INTU, KDP, MAR, MRNA, AMAT, CHTR, COST, CPRT, CSX, IDXX, LRCX, MDLZ, MNST, NVDA, ODFL, REGN, ROST, TMUS, AZN, CMCSA, EBAY, FISV, LULU, OKTA, PAYX, SPLK, WDAY, KLAC, PANW, CRWD, FAST, VRSK, AAPL, ADI, AEP, AVGO, EXC, INTC, LCID, MELI, MCHP, MU, NXPI, QCOM, SWKS, SBUX, TXN, VRTX, XEL,

NDX Stocks to Watch on Monday:
Moving Above 30 DMA = 17
AAPL, ADI, AEP, AVGO, EXC, INTC, LCID, MELI, MCHP, MU, NXPI, QCOM, SWKS, SBUX, TXN, VRTX, XEL,


Moving Below 30 DMA = 0





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