© 2022
- The SPX +56.82 opened
higher after strong EPS reactions from NKE +12.57,
+12.18% and FDX +5.64, +3.43%,
- and closed higher after a positive
Consumer Confidence report of 108.3 vs. 101.0 consensus.
- Buyers were in control on Wednesday as
SPY, DIA, QQQ and IWM closed above the high of the low day on a
strong channel bounce.
- VIX closed lower for the fourth straight day.
/CL, TLT and DXY closed higher, while GLD moved lower and TNX
was unchanged.
SPY up 5.69 at 386.23, on 78.0
million shares, below average volume, up on higher volume.
VIX down 1.41 at 20.07
QQQ up 3.91
at 273.45
NKE, BA, CAT, AAPL led the DJIA, 28 advancers, +9
APA, ETSY, HAS, ENPH led the SPX, 467 advancers
CTAS, MRNA, AMD, CHTR led the NDX, 85 advancers
The two-year trend term is up a little. The
one-year trend down.
Up: IWM, DIA, SPY, QQQ,
Down:
All eleven sectors were higher on Wednesday, led by XLE, XLI
and XLK.
Advancers strengthened on Wednesday as advancers led 2,406 to 729 on the NYSE and
led 3,141 to 1,466 on the NASDAQ.
The SPY
MFC green line pointed down at 32.4 and is short-term
bearish on Wednesday. SPY
opened higher and closed higher.
Uptrend sectors: XLV, XLP,
XLB, XLI, XLF, XLE,
Neutral sectors: XLK, XLU, XLC, XLRE,
Down trend sectors: XLY,
The 6-month intermediate
trend is sideways. The ten-day trend is down.
3-month Intermediate Term Market
Trend: Sideways
3-day Short Term Market Trend: Up a little
85 of 100 NDX stocks
closed higher on Wednesday
35 NDX stock are above their 30 DMA: AMGN,
KHC, ROST, AZN, KLAC, XEL, AVGO, PDD, ATVI, JD, EXC, META, OKTA, WDAY, ALGN, DDOG, SGEN, MRNA, ADBE, MNST, ADI, AEP, BKR, CDNS, CMCSA, CTAS,
FISV, HON, ISRG, MDLZ, NFLX, NVDA, PCAR, PDD, SNPS,
NDX Stocks to Watch on Thursday:
Moving Above 30 DMA = 15
ADI, AEP, BKR, CDNS,
CMCSA, CTAS, FISV, HON, ISRG, MDLZ, NFLX, NVDA, PCAR, PDD, SNPS,
Moving Below 30 DMA = 0
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