SPX Closed Lower on Friday and Lower for 2022...Markets Closed Monday, New Years Holiday Observance...

© 2022

Have a Happy New Year celebration and relaxing three-day weekend!

On Friday, the SPX -9.78 opened lower, traded in a lower range and rallied in the last hour of trading to close slightly lower for the final trading day of 2022.

QQQ, DIA, SPY and IWM closed lower. 

VIX moved higher.

TSLA closed higher for a third day for the first time since October 28…will the countertrend bounce lead to a change in trend?

 

2022 Recap

DIA -8.80%          SPY -19.48%            IWM -21.62%            QQQ -33.07%

XLE +57.60%      XLU -1.51%              XLP -3.32%               XLV -3.58%

XLI -7.18%          XLF -12.42%             XLB -14.27%             XLK -28.43%

XLRE -28.72%    XLY -36.82%             XLC -38.22%

DXY +8.18%       TLT -32.82%             TNX +156.55%          /CL +6.71%  

CVX +52.95%     MRK +44.77%          TRV +19.86%            AMGN +16.74%

CAT +15.88%     INTC -48.68%           CRM -47.83%            DIS -43.91%

OXY +117.28%   FTI +105.91%           HES +91.57%           MPC +81.89%

PDD +39.88%     VRTX +31.5%          TMUS +20.71%         ORLY +19.51%

LCID -82.05%     OKTA -69.52%          ALGN -67.91%          TEAM -66.25%

 

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

SPY down 1.01 at 382.43, on 84.0 million shares, above average volume, down slightly on higher volume.

VIX up .23 at 21.67

QQQ down .16 at 266.28

INTC, BA, JPM, CVX led the DJIA, 11 advancers, -17

TTWO, LVS, APA, HST led the SPX, 133 advancers

LCID, NFLX, BKR, LULU, TSLA led the NDX, 41 advancers

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

Up:

Down:  QQQ, DIA, SPY, IWM,

Two of eleven sectors were higher on Friday, led by XLE, XLC and XLK.

Advancers weakened on Friday as decliners led 1,711 to 1,402 on the NYSE and led 2,368 to 2,256 on the NASDAQ.

The SPY MFC green line turned up at 18.4 and is short-term bullish.  SPY opened lower and closed higher than it opened from a late rally but closed lower for the day.

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

Neutral sectors:  XLRE, XLK, XLC,

Down trend sectors:  XLY,

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

3-month Intermediate Term Market Trend: Up

3-day Short Term Market Trend: Sideways

41 of 100 NDX stocks closed higher on Friday

17 NDX stock are above their 30 DMA:   KHC, ROST, AZN, XEL, AVGO, ATVI, EXC, OKTA, WDAY, ALGN, MNST, ORLY, ADBE, BKNG, BKR, META, SGEN,

NDX Stocks to Watch on Tuesday:

Moving Above 30 DMA = 0

Moving Below 30 DMA = 8

AEP, CTAS, FISV, HON, ISRG, JD, MDLZ, PDD,

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