© 2022
- The SPX
-56.05 reverses Wednesday’s 56-point bounce after positive economic
data on GDP, Jobless Claims and negative EPS reaction from MU -1.76, -3.44%,
- Other semiconductor
stocks LRCX, AMAT NVDA, KLAC, AMD and more were lower in sympathy with MU.
- Selling exhausted
around 1:30 pm ET and SPY, DIA, QQQ and IWM rallied from their
low, with SPY, DIA and IWM forming long-tailed hammer candles
that closed above Tuesday’s close.
- VIX moved higher and closed above the high of the low day.
DXY closed higher, while GLD, /CL, TNX and TLT moved
lower and.
SPY down 5.51 at 380.72, on 100.1 million shares, above average volume, down on higher
volume.
VIX up 1.90 at 21.97
QQQ down 5.51 at 266.76
VZ, NKE, PG, MRK led the DJIA, 4 advancers, -24
FDX, VFC, KR, VNO led the SPX, 85 advancers
WBD, VRTX, CHTR, KHC led the NDX, 6 advancers
The two-year trend term is up a little. The
one-year trend down.
Up:
Down: DIA, IWM, SPY, QQQ,
All eleven sectors were lower on Thursday, the weakest were XLY,
XLK and XLE.
Advancers weakened on Thursday as decliners led 2,439 to 699 on the NYSE and led 3,108 to 1,466 on the NASDAQ.
The SPY
MFC green line pointed down at 26.3 and is short-term
bearish on Wednesday. SPY
opened lower and closed lower.
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: Sideways
6 of 100 NDX stocks
closed higher on Thursday
20 NDX stock are above their 30 DMA: KHC, ROST, AZN, XEL, AVGO, PDD, ATVI, JD, EXC, META, OKTA, WDAY, ALGN, SGEN, MRNA,
ADBE, AEP, CTAS, MDLZ, PDD,
NDX Stocks to Watch on Friday:
Moving Above 30 DMA = 0
Moving Below 30 DMA = 14
ADI, BKR, CDNS, CMCSA, DDOG,
FISV, HON, ISRG, KLAC, MNST, NFLX, NVDA, PCAR, SNPS,
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