Tuesday, November 1, 2022

Stocks are Up, Market is Down...SPX Higher Open, Lower Close after PMI, ISM and JOLTS Economic Data...Good News is...


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The SPX -15.88 opened higher, traded lower after PMI, ISM Mfg. index and JOLTS reports were released and closed lower.  Good news is bad news again.  DIA, SPY and QQQ closed lower, while IWM closed higher.  More positive than negative earnings reactions today.

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

Wednesday:  FOMC announcement 2 pm ET
Friday:  Jobs Report 8:30 am 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: ABMD, AME, BEN, CNP, CTLT, ECL, ETN, FOXA, HSIC, IDXX, INCY, IT, LDOS, LLY, MPC, NEM, PFE, PSX, SEE, SPG, SYY, TAP, TECH, WAB, WAT, WEC, XYL, ZBRA, AIG, AIZ, AMCR, AMD, CLX, CZR, DVN, EA EIS, EXR, FMC, MCK MDLZ, MTCH, OKE PAYC, PEAK, PRU, PSA, VRSK
Wednesday: BR, CDW, CHRW, CRL, CVS, DISH, EL, ETR, GNRC, HUM, MLM, PARA, ROK, TEL, TRMB, TT, VMC, YUM, ZBH, ALB, ALL, ANSS, APA, BKNG, CDAY, CTSH, EBAY, EQIX, ES, ETSY, FLT, FTNT, HST, IR, LNC, LUMN, MET, MGM, MRO, O, PTC, QCOM, QRVO
Thursday: ABC, APD, APTV, BALL, CI, CMI, COP EPAM, EXC, FIS, GCI, HII, ICE, IRM, JCI, K, MAR, MRNA, PH, PNW, PWR, RCL, REGN, SRE, TRGP, ZTS, AEE, AES, AMGN, AVB, CE, CTRA, CTVA, ED, EOG, EXPE, FRT, ILMN, LYV, MCHP, MNST, MSI, MTC, NWSA, PYPL, REG, SBUX, SWKS, VTR, WBD
Friday: CAH, CBOE, D, DUK, EVRG, HSY, PPL
Saturday: BRK/B

First day reaction: Q3 through Nov 1…
Positive:
ABMD, IDXX, HOLX, IT, FOXA, ANET, MPC, HSIC, SPG, TECH, NXPI, INCY PFE, XYL, PSX, WAT, AFTL, SBAC, WMB, LDOS, AME, ETN, 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 = 127 SHOP, PINS, FSLR,
Neutral:
WED, WAB, CNP, XRAY, 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 = 53
Negative:
CTLT, ZBRA, ECL, SEE, SYK, CINF, BEN, TAP, SYY, LLY, AWK, VNO, NEM, ON, GPN, PEG, PCG, HWM, L, 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 = 110 SNAP, WOLF


SPY down 1.69 at 384.52, on 85.2 million shares, below average volume, down on lower volume.
VIX down .07 at 25.81, volatility continues elevated.
QQQ down 2.84 at 275.11

JPM, GS, NKE, CAT led the DJIA, 11 advancers, +5
ABMD, IDXX, HOLX, IT led the SPX, 277 advancers
PDD, ALGN, MELI, ODFL led the NDX 50 advancers

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

UpIWM,
DownDIA, SPY, QQQ,

Five of eleven sectors were higher on Tuesday, led by XLE, XLV and XLF as sector momentum was up strong.

Energy leaders:  MPC, VLO, BKR, PSX
Utilities leaders:  PCG, FE
Financial leaders:  AFL, WFC, MS, HIG

Advancers strengthened on Tuesday as advancers led 1,890 to 1,313 on the NYSE and led 2,571 to 2,068 on the NASDAQ.

The SPY MFC green line is pointed up at 82.8 and is short-term bullishSPY opened higher and closed lower.

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


50 of 100 NDX stocks closed higher on Tuesday

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

NDX Stocks to Watch on Wednesday:
Moving Above 30 DMA = 5
ADI, AEP, MCHP, NXPI, SBUX,

Moving Below 30 DMA = 4
ANSS, INTU, LCID, OKTA,





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