© 2022
The SPX +112.50 opened higher, moved higher,
closed higher, rising +205 points in two days. SPY, QQQ and IWM each broke out
of last week’s high for a breakout trigger.
JOLTS report came in below expectations and the market rallies. Bad news is good again today.
/CL and GLD closed higher, while DXY, TLT and TNX moved
lower.
SPY up 11.36 at 377.97, on 103.5 million shares, above average volume,
up on higher volume. Advancing capital
increased 40% above Monday’s level.
VIX down 1.03 at 29.07
QQQ up 8.60 at 282.13
BA, CRM, GS, CAT led the DJIA, 30 advancers, +1
TWTR, NCLH, RCL, CCL led the SPX, 494 advancers
ILMN, LCID, TEAM, ASML led the NDX 100 advancers
The two-year trend term is up. The
one-year trend down.
Up: IWM, QQQ, SPY, DIA,
Down:
All sectors were higher on Tuesday, led by of XLE, XLF and XLB.
Energy leaders: MRO, APA, DVN, FANG
Financial leaders: FCX, NUE, EMN, SHW
Materials leaders: LRCX, AMAT, TER, INTC
Advancers strengthened on Tuesday as advancers led 2,837 to 451 on the NYSE and led 3,722 to 1,064 on the NASDAQ.
The SPY
MFC green line is pointed up at 13.1 and is short-term
bullish. SPY opened higher
and closed higher.
Sectors shift up on
Tuesday:
Uptrend sectors: XLE, XLY,
Neutral sectors: XLF, XLI, XLB,
Down trend sectors: XLU, XLK, XLV, XLP, XLRE, XLC,
The 6-month intermediate
trend is down. The ten-day trend is down.
3-month Intermediate Term Market
Trend: Sideways
3-day Short Term Market Trend: Up
100 of 100 NDX stocks
closed higher on Tuesday
29
NDX stock are above their 30 DMA: REGN,
BIIB, NFLX, VRTX, FTNT, MNST, ORLY, ZS, ADI, CDNS, CTAS, DLTR, DXCM, GILD,
IDXX, ILMN, LCID, MCHP, MELI, MRVL, ODFL, PCAR, PDD, PYPL, ROST, SBUX, TMUS,
VRSN, WDAY,
NDX Stocks to Watch on Wednesday:
Moving Above 30 DMA = 21ADI, CDNS, CTAS, DLTR,
DXCM, GILD, IDXX, ILMN, LCID, MCHP, MELI, MRVL, ODFL, PCAR, PDD, PYPL, ROST,
SBUX, TMUS, VRSN, WDAY,
Moving Below 30 DMA = 0
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