SPX Soars in Broad Rally after Fed Chair Powell Speaks...Technology, Communication Services, Consumer Discretionary Lead all Sectors Higher...

© 2022

The SPX +122.48 opened flat, traded in a range and soared after Jerome Powell’s speech at the Brookings Institute.  In my view this speech was one of his least ambiguous and most transparent speeches he has given.  Instead of sowing chaos he shared clarity.  The markets seemed clear on what he said and reacted extremely positively to his comments.

Thursday: Personal incomes & outlays report BMO, ISM Manufacturing 10 am ET, Fed speakers

Friday:  Jobs Report BMO, Fed speaker

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

SPY up 12.45 at 407.68, on 144.5 million shares, above average volume, up on higher volume.

VIX down 1.31 at 20.58

QQQ up 12.79 at 293.36

MSFT, CRM, AAPL, INTC led the DJIA, 28 advancers, +11

EL, HPE, ETSY, NVDA led the SPX, 475 advancers

WDAY, BIDU, NFLX, MRVL led the NDX, 96 advancers

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

Up:  QQQ, SPY, IWM, DIA,

Down:

All eleven sectors were higher on Wednesday, led by XLK, XLC and XLY.

Advancers were strengthened on Wednesday as advancers led 2,726 to 455 on the NYSE and led 3,630 to 1,120 on the NASDAQ.

The SPY MFC green line turned up at 92.6 and is short-tern bullish.  SPY opened flat and closed lower.

Uptrend sectors:  XLE, XLF, XLB, XLI, XLV, XLP,

Neutral sectors:  XLK,

Down trend sectors:  XLU, XLC, XLRE, XLY,

The 6-month intermediate trend is sideways.  The ten-day trend is up.

3-month Intermediate Term Market Trend: Sideways

3-day Short Term Market Trend: Up

96 of 100 NDX stocks closed higher on Wednesday

84 NDX stock are above their 30 DMA:   BIIB, ORLY, GILD, PCAR, AMGN, KHC, PEP, SIRI, HON, ISRG, WBA, BKNG, ADP, CTAS, CSCO, MRNA, AMAT, CHTR, COST, CSX, IDXX, LRCX, MDLZ, MNST, NVDA, ROST, TMUS, AZN, LULU, KLAC, FAST, INTC, VRTX, XEL, AEP, EBAY, ADI, ASML, AVGO, CMCSA, MAR, MCHP, NXPI, ODFL, PAYX, PDD, SBUX, SWKS, TXN, ADBE, ANSS, AMD, ATVI, CDNS, CPRT, FISV, JD, MRVL, MSFT, MTCH, QCOM, SNPS, VRSN, BIDU, NTES, EXC, PANW, VRSK, KDP, CTSH, AAPL, ALGN, DOCU, DXCM, EA, GOOGL, INTU, MELI, META, MU, NFLX, OKTA, REGN, WDAY,

NDX Stocks to Watch on Thursday:

Moving Above 30 DMA = 14

AAPL, ALGN, DOCU, DXCM, EA, GOOGL, INTU, MELI, META, MU, NFLX, OKTA, REGN, WDAY,

Moving Below 30 DMA = 0

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SPX Forms Doji...Light Volume Trading Range...Real Estate, Energy, Industrials Lead Sectors...VIX Lower...Powell Speaks Wednesday...

© 2022

The SPX -6.31 opened flat, traded in a range, closed slightly lower and formed a doji at short term support.

Wednesday: GDP report BMO, Jerome Power speaks 1:30 pm ET

Thursday: Personal incomes & outlays report BMO, ISM Manufacturing 10 am ET, Fed speakers

Friday:  Jobs Report BMO

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

SPY down .68 at 395.23, on 52.3 million shares, below average volume, down on lower volume.

VIX down .32 at 21.89

QQQ down 2.14 at 280.57

AXP, DOW, BA, JPM led the DJIA, 17 advancers, +12

CE, CCL, RL, NCLH led the SPX, 279 advancers

JD, PDD, BIDU, NTES led the NDX, 28 advancers

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

Up:  IWM,

Down:  DIA, SPY, QQQ,

Six of eleven sectors were higher on Tuesday, led by XLRE, XLE and XLI.

Advancers were strengthened on Tuesday as advancers led 1,822 to 1,333 on the NYSE and decliners led 2,343 to 2,253 on the NASDAQ.

The SPY MFC green line is pointed down at 91.7 and is counter-trend defensive.  SPY opened flat and closed lower.

Uptrend sectors:  XLE, XLF, XLB, XLI, XLV,

Neutral sectors:  XLP,

Down trend sectors:  XLK, XLRE, XLU, XLY, XLC,

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

3-month Intermediate Term Market Trend: Sideways

3-day Short Term Market Trend: Down

28 of 100 NDX stocks closed higher on Tuesday

70 NDX stock are above their 30 DMA:   BIIB, ORLY, GILD, PCAR, AMGN, KHC, PEP, SIRI, HON, ISRG, WBA, BKNG, ADP, CTAS, CSCO, MRNA, AMAT, CHTR, COST, CSX, IDXX, LRCX, MDLZ, MNST, NVDA, ROST, TMUS, AZN, LULU, KLAC, FAST, INTC, VRTX, XEL, AEP, EBAY, ADI, ASML, AVGO, CMCSA, MAR, MCHP, NXPI, ODFL, PAYX, PDD, SBUX, SWKS, TXN, ADBE, ANSS, AMD, ATVI, CDNS, CPRT, FISV, JD, MRVL, MSFT, MTCH, QCOM, SNPS, VRSN, BIDU, NTES, EXC, PANW, VRSK, KDP, CTSH,

NDX Stocks to Watch on Wednesday:

Moving Above 30 DMA = 0

Moving Below 30 DMA = 6

DXCM, EA, GOOGL, MELI, NFLX, REGN,

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SPX Moves Lower after China Covid-19 Protests and Williams, Bullard Fed Comments...Breadth Weakens, All Sectors Lower...

© 2022

The SPX -62.18 opened lower, following overnight protests in China over Covid-19 lockdown policies.  Around noon ET the SPX whipped down, up and down, ultimately falling more than 30 points after Fed comments by Williams and Bullard on interest rates.

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

SPY down 6.42 at 395.91, on 68.0 million shares, below average volume, down on higher volume.

VIX up 1.71 at 22.21

QQQ down 4.21 at 282.71

MRK, WMT, CRM, JNJ led the DJIA, 5 advancers, -12

CTLT, WYNN, ULTA, GCI led the SPX, 38 advancers

PDD, NTES, TEAM, ATVI led the NDX, 18 advancers

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

Up: 

Down:  DIA, QQQ, SPY, IWM,

All eleven sectors were lower on Monday.

Advancers were weakened on Monday as decliners led 2,473 to 703 on the NYSE and led 3,450 to 1,245 on the NASDAQ.

The SPY MFC green line turned down at 92.8 and is counter-trend defensive.  SPY opened lower and closed lower.

Uptrend sectors:  XLE, XLF, XLB, XLI, XLV,

Neutral sectors:  XLP,

Down trend sectors:  XLK, XLRE, XLU, XLY, XLC,

The 6-month intermediate trend is sideways.  The ten-day trend is down a little.

3-month Intermediate Term Market Trend: Sideways

3-day Short Term Market Trend: Down a little

18 of 100 NDX stocks closed higher on Monday

76 NDX stock are above their 30 DMA:   BIIB, ORLY, DXCM, GILD, PCAR, AMGN, KHC, PEP, SIRI, EA, HON, ISRG, WBA, BKNG, ADP, CTAS, CSCO, MRNA, AMAT, CHTR, COST, CSX, IDXX, LRCX, MDLZ, MNST, NVDA, ROST, TMUS, AZN, LULU, KLAC, FAST, INTC, VRTX, XEL, AEP, EBAY, MELI, ADI, ASML, AVGO, CMCSA, MAR, MCHP, NXPI, ODFL, PAYX, PDD, SBUX, SWKS, TXN, ADBE, ANSS, AMD, ATVI, CDNS, CPRT, FISV, JD, MRVL, MSFT, MTCH, NFLX, QCOM, SNPS, VRSN, BIDU, GOOGL, NTES, EXC, PANW, VRSK, KDP, CTSH, REGN,

NDX Stocks to Watch on Tuesday:

Moving Above 30 DMA = 1

REGN,

Moving Below 30 DMA = 2 Friday, 3 Monday

FTNT, ILMN, AAPL, MU, WDAY,

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SPX Close Above 4,000 at ST Resistance...Markets Closed Thursday, Open 1/2 Day on Friday...

© 2022

Happy Thanksgiving to Everyone...

We are so blessed, and We hope that your family has a Wonderful and Safe Thanksgiving holiday…

Markets closed Thursday.  Open half day on Friday until 1 pm ET.

The SPX +23.68 opened higher, a volatile midday and rally after FOMC minutes released at 2:00 pm ET.  The SPX close at 4,027, its highest close since September 12.  The SPX closed at short-term, 7-day resistance.

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

SPY up 2.52 at 402.90, on 68.1 million shares, below average volume, up on higher volume.

VIX down .94 at 20.35

QQQ up 2.87 at 288.82

DIS, CRM, BA, UNH led the DJIA, 17 advancers, -10

DE, WBD, GCI, DPZ led the SPX, 354 advancers

TSLA, TEAM, OKTA, DOCU led the NDX, 81 advancers

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

Up:  QQQ, SPY, DIA, IWM

Down:

Ten of eleven sectors were higher on Wednesday, led by XLY, XLC and XLU.

Consumer Discretionary leaders:  TSLA, DPZ, TGT, BBY

Communication Services leaders:  WBD, GCI, TTWO, DIS

Utilities leaders:  EIX, AWK, SRE, ED

Advancers were mixed on Wednesday as advancers led 1,926 to 1,192 on the NYSE and led 2,880 to 1,711 on the NASDAQ.

The SPY MFC green line is pointed up at 90.7 and is short-term bullish.  SPY opened higher and closed higher.

Uptrend sectors:  XLE, XLF, XLB, XLI, XLV,

Neutral sectors:  XLP,

Down trend sectors:  XLK, XLRE, XLU, XLY, XLC,

The 6-month intermediate trend is sideways.  The ten-day trend is up.

3-month Intermediate Term Market Trend: Sideways

3-day Short Term Market Trend: Up

81 of 100 NDX stocks closed higher on Wednesday

80 NDX stock are above their 30 DMA:   BIIB, ORLY, DXCM, GILD, PCAR, AMGN, KHC, PEP, SIRI, ILMN, EA, HON, ISRG, WBA, BKNG, ADP, CTAS, CSCO, MRNA, AMAT, CHTR, COST, CSX, IDXX, LRCX, MDLZ, MNST, NVDA, ROST, TMUS, AZN, LULU, KLAC, FAST, INTC, MU, VRTX, XEL, AEP, EBAY, MELI, ADI, ASML, AVGO, CMCSA, MAR, MCHP, NXPI, ODFL, PAYX, PDD, SBUX, SWKS, TXN, ADBE, ANSS, AAPL, AMD, ATVI, CDNS, CPRT, FISV, JD, MRVL, MSFT, MTCH, NFLX, QCOM, SNPS, VRSN, BIDU, GOOGL, NTES, EXC, PANW, VRSK, KDP, CTSH, FTNT, WDAY,

NDX Stocks to Watch on Friday:

Moving Above 30 DMA = 2

FTNT, WDAY,

Moving Below 30 DMA = 2

ADSK, REGN,

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SPX Highest Close Since September 12...Energy, Materials, Technology Lead Sectors...MFC Green Line Turns Up...

© 2022

The SPX +53.64 opened higher and closed at its highest close since September 12.

The SPX formed a white candle in its six-week uptrend.

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

FOMC minutes released Wednesday at 2:00 pm ET.

SPY up 5.31 at 399.90, on 60.4 million shares, below average volume, up on higher volume.

VIX down 1.07 at 21.29

QQQ up 4.06 at 285.95

INTC, CRM, WBA, DOW led the DJIA, 27 advancers, +8

BBY, A, EQT, SWN led the SPX, 445 advancers

ADI, NVDA, INTU, CHTR led the NDX, 79 advancers

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

Up:  QQQ, SPY, DIA, IWM

Down:

All eleven sectors were higher on Tuesday, led by XLE, XLB and XLK.

Energy leaders:  EQT, SWN, APA, MPC

Basic Materials leaders:  LYB, FCX, CE, APD,

Technology leaders:  FIS, ADI, NVDA, INTU

Advancers strengthened on Tuesday as advancers led 2,364 to 808 on the NYSE and led 2,829 to 1,8459 on the NASDAQ.

The SPY MFC green line turned up at 88.4 and is short-term bullish.  SPY opened higher, closed higher and formed a white candle.

Uptrend sectors:  XLE, XLF, XLB, XLI, XLV,

Neutral sectors:  XLP,

Down trend sectors:  XLK, XLRE, XLU, XLY, XLC,

The 6-month intermediate trend is sideways.  The ten-day trend is up.

3-month Intermediate Term Market Trend: Down

3-day Short Term Market Trend: Up

79 of 100 NDX stocks closed higher on Tuesday

80 NDX stock are above their 30 DMA:   BIIB, ORLY, DXCM, GILD, PCAR, AMGN, KHC, PEP, SIRI, ILMN, EA, HON, ISRG, WBA, BKNG, ADP, CTAS, CSCO, MRNA, AMAT, CHTR, COST, CSX, IDXX, LRCX, MDLZ, MNST, NVDA, ROST, TMUS, AZN, LULU, KLAC, FAST, INTC, MU, VRTX, XEL, AEP, EBAY, MELI, ADI, ASML, AVGO, CMCSA, MAR, MCHP, NXPI, ODFL, PAYX, PDD, SBUX, SWKS, TXN, ADBE, ANSS, AAPL, ADSK, AMD, ATVI, CDNS, CPRT, FISV, JD, MRVL, MSFT, MTCH, NFLX, QCOM, SNPS, VRSN,  BIDU, GOOGL, NTES, REGN, EXC, PANW, VRSK, KDP, CTSH,

NDX Stocks to Watch on Wednesday:

Moving Above 30 DMA = 1

CTSH,

Moving Below 30 DMA = 2

DLTR, ZM,

Add Comments here: 

SPX Opens Lower, Closes Lower Grinder Day 6...DIS Gaps Up as Iger Returns as CEO...Staples, Real Estate, Utilities Lead Sectors...VIX Near 3-month Low...

© 2022

The SPX -15.40 opened lower, sold off for about two hours and rallied after comments from the Fed’s Mary Daly.  The SPX formed a small spinning top.

Fed minutes released Wednesday 2 pm ET.

Markets are closed Thursday:  Happy Thanksgiving!

Friday, markets close early at 1 pm ET.

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

SPY down 1.44 at 394.59, on 51.2 million shares, below average volume (lowest volume since Aug 25), down on lower volume.  

VIX down .76 at 22.36, lowest close since Aug 25

QQQ down 2.93 at 281.89

DIS, WBA, KO, MRK led the DJIA, 19 advancers, -1

STE, NUE, GPS, BDX led the SPX, 270 advancers

ROST, VRSK, AEP, PEP led the NDX, 40 advancers

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

Up: 

Down: DIA, SPY, IWM, QQQ,

Seven of eleven sectors were higher on Monday, led by XLP, XLRE and XLU.

Consumer Staples leaders:  HSY, LW, WBA, STZ

Real Estate leaders:  CCI, PEAK, AMT, SBAC

Utilities leaders:  AEP, PNW, WEC, ETR

Advancers weakened on Monday as decliners led 1,693 to 1,471 on the NYSE and led 2,912 to 1,769 on the NASDAQ.

The SPY MFC green line is pointed down at 87.9 and is counter-trend defensive.  SPY opened lower, closed lower and formed a spinning top.

Uptrend sectors:  XLE, XLF, XLB, XLI, XLV,

Neutral sectors:  XLP,

Down trend sectors:  XLK, XLRE, XLU, XLY, XLC,

The 6-month intermediate trend is sideways.  The ten-day trend is up.

3-month Intermediate Term Market Trend: Down

3-day Short Term Market Trend: Sideways

40 of 100 NDX stocks closed higher on Monday

81 NDX stock are above their 30 DMA:   BIIB, ORLY, DXCM, GILD, PCAR, AMGN, KHC, PEP, SIRI, ILMN, EA, HON, ISRG, WBA, BKNG, ADP, CTAS, CSCO, DLTR, MRNA, AMAT, CHTR, COST, CSX, IDXX, LRCX, MDLZ, MNST, NVDA, ROST, TMUS, AZN, LULU, KLAC, FAST, INTC, MU, VRTX, XEL, AEP, EBAY, MELI, ADI, ASML, AVGO, CMCSA, MAR, MCHP, NXPI, ODFL, PAYX, PDD, SBUX, SWKS, TXN, ADBE, ANSS, AAPL, ADSK, AMD, ATVI, CDNS, CPRT, FISV, JD, MRVL, MSFT, MTCH, NFLX, QCOM, SNPS, VRSN, ZM, BIDU, GOOGL, NTES, REGN, EXC, PANW, VRSK, KDP, 

NDX Stocks to Watch on Tuesday:

Moving Above 30 DMA = 1

KDP,

Moving Below 30 DMA = 3

CTSH, PYPL, SGEN,

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