Futures Drop After Higher than Expected PPI...Financial Leads Sectors...

 
 
© 2021
 
 
SPX, DJI, and RUT opened lower and closed lower, while NDX closed below Monday’s low and above Tuesdays open.  The SPX closed at 4,638 -34.88, and the NDX closed at 15,914, -167.65. 

PPI was higher than expected at 9.6% vs 9.2% YOY above estimates.

 
SPX changes:
Dec 14 EPAM will replace KSU
Dec 20 SBNY, SEDG, FDS will replace LEG, HBI, WU
NDX changes:
Dec 20 ABNB, FTNT, PANW, ZS, DDOG, LCID will replace CDW, CERN, CHKP, FOXA, FOX, INCY, TCOM
 
SPY down 3.21 at 463.36, on 77.2 million shares, above average volume, down on higher volume.  
VIX up 1.58 at 21.89
QQQ down 4.06, -1.04% at 388.20
 
 
TRV, MRK, AMGN, JNJ led the DJIA, 17 advancers, +10
CNC, CMA, NUE, DFS led the SPX, 156 advancers.
DOCU, CHTR, CMCSA, TMUS led the NDX, 30 advancers.
 
The two-year trend term is up.  The one-year trend is up.
 
Up: 
Down: DIA, SPY, IWM, QQQ,
 
 
Two of eleven sectors were higher on Tuesday, led by XLF, XLP and XLB.
 
Financial leaders: CMA, DFS, ALL, TRV
Consumer Staples leaders: HRL, CL, TSN, WMT
Basic Materials leaders: NUE, LYB, EMN, DOW
 
Advancers remained weak on Tuesday as decliners led 2,387 to 1,012 on the NYSE and led 3,454 to 1,277 on the NASDAQ.
 
The SPY MFC green line turned down at 74.6 and is defensive.  SPY is in a bull flag pullback. 
 
 
Uptrend sectors:  XLK, XLY, XLRE, XLE, XLB, XLI, XLF, XLV,
Neutral sectors:  XLP, XLU,
Down trend sectors: XLC,
 
The 6-month intermediate trend is up.  The ten-day trend is up.
 
3-month Intermediate Term Market Trend: Up
3-day Short Term Market Trend: Down
 
30 of 100 NDX stocks closed higher on Tuesday.
 
36 NDX stocks are above their 30 DMA:  DLTR, VRSK, AVGO, AAPL, COST, QCOM, PTON, LRCX, MCHP, MU, GILD, VRTX, CSCO, FAST, ORLY, XEL, CSX, MRVL, PEP, AEP, AMGN, CTAS, CTSH, FISV, SBUX, WBA, CERN, MNST, REGN, PCAR, EXC, MDLZ, FB, INCY, ILMN, TMUS,
 
 
NDX Stocks to Watch on Wednesday:
Moving Above 30 DMA = 2
ILMN, TMUS,
 
Moving Below 30 DMA = 10
ADP, ANSS, CDNS, INTU, MSFT, NXPI, PAYX, SNPS, TXN, VRSN,
 
 
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SPX, DJI, NDX, RUT Closes Lower...Real Estate, Staples Lead Sectors...SPX, NDX Changes...

 
 
© 2021
 
 
SPX, DJI, NDX and RUT opened flat and closed lower.  SPX and SPY closed below Friday’s all-time closing highs.  The SPX closed at 4,668 -43.05, and the NDX closed at 16,082, -249.43.
 
 
SPX changes:
Dec 14 EPAM will replace KSU
Dec 20 SBNY, SEDG, FDS will replace LEG, HBI, WU
NDX changes:
Dec 20 ABNB, FTNT, PANW, ZS, DDOG, LCID will replace CDW, CERN, CHKP, FOXA, FOX, INCY, TCOM
 
 
SPY down 4.17 at 466.57, on 87.7 million shares, above average volume, down on higher volume.  
VIX up 1.62 at 20.31
QQQ down 5.75, -1.44% at 392.26
 
KO, WMT, JNJ, PG led the DJIA, 7 advancers, -14
MRNA, BMY, PFE, MKTX led the SPX, 180 advancers.
PTON, MRNA, INCY, CERN led the NDX, 33 advancers. 
 
The two-year trend term is up.  The one-year trend is up.
 
Up: 
Down: DIA, SPY, QQQ, IWM,
 
SPY = pullback from all-time closing high, BO setup
DIA = channel bounce pause
QQQ = channel bounce pause
IWM = channel bounce down
 
Four of eleven sectors were higher on Monday, led by XLRE, XLP, XLU and XLV.
 
Real Estate leaders: CCI, DLR, IRM, EQIX
Consumer Staples leaders: MKC, KO, KMB, KR
Utilities leaders: NRG, AWK, PEG, CMS
Health Care leaders: MRNA, BMY, PFE, INCY
 
Advancers weakened on Monday as decliners led 2,336 to 1,020 on the NYSE and led 3,363 to 1,304 on the NASDAQ.
 
The SPY MFC green line is pointed up at 78.6 and is bullish.  SPY is in a five narrow channel and pullback from an all-time closing high Friday. 
 
 
Uptrend sectors:  XLK, XLY, XLRE, XLE, XLB, XLI, XLF, XLV,
Neutral sectors:  XLP, XLU,
Down trend sectors: XLC,
 
The 6-month intermediate trend is up.  The ten-day trend is up.
 
3-month Intermediate Term Market Trend: Up
3-day Short Term Market Trend: Sideways
 
33 of 100 NDX stocks closed higher on Monday.
 
44 NDX stocks are above their 30 DMA:  DLTR, VRSK, AVGO, AAPL, COST, INTU, QCOM, NXPI, PTON, VRSN, LRCX, MCHP, MU, GILD, VRTX, ADP, CSCO, FAST, ORLY, SNPS, TXN, XEL, CSX, MRVL, PEP, AEP, AMGN, ANSS, CTAS, CTSH, FISV, SBUX, WBA, CERN, MNST, REGN, PCAR, CDNS, EXC, MDLZ, MSFT, PAYX, FB, INCY,
 
 
NDX Stocks to Watch on Tuesday:
Moving Above 30 DMA = 2
FB, INCY,
 
Moving Below 30 DMA = 10
ADI, ALGN, AMAT, CDW, GOOGL, INTC, KLAC, MAR, SWKS, XLNX,
 
 
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SPX New All-time Closing High...Technology Leads 11 Sectors Higher...ORCL, AVGO, COST Gap Up on EPS Reactions...

  
© 2021
 
 
Stocks opened higher after a mixed CPI report with MoM and YoY higher than expected.  SPX, DJI and NDX opened higher and closed higher while RUT opened higher and closed lower,
 
SPX and SPY closed at new all-time closing highs.  The SPX closed at 4,712 +44.57, and the NDX closed at 16,331, +182.41.
 
Positive Earnings Reactions on Friday:
ORCL +13.86, +15.61%
AVGO +48.26, +8.27%
COST +34.49, +6.58%
 
 
SPY up 4.39 at 470.74, on 77.1 million shares, average volume, up on higher volume.  
VIX down 2.89 at 18.69
QQQ up 4.28, +1.09% at 398.01
 
CSCO, MSFT, AAPL, KO led the DJIA, 21 advancers, +9
ORCL, F, GM, FTNT led the SPX, 356 advancers.
AVGO, COST, ADBE, CDNS led the NDX, 70 advancers. 
 
The two-year trend term is up.  The one-year trend is up.
 
Up: QQQ, SPY, DIA, 
Down: IWM,
 
SPY = all-time closing high, BO setup
DIA = channel bounce continuation
QQQ = channel bounce continuation
IWM = reversal BO test, re-breakout setup
 
All eleven sectors were higher on Friday, led by XLK, XLP and XLE.
 
Technology leaders: ORCL, AVGO, FTNT, JNPR
Consumer Staples leaders: COST, HRL, KO, CPB
Energy leaders: SWN, DVN, APA, BKR
 
Advancers strengthened on Friday as decliners led 1,763 to 1,583 on the NYSE and led 2,776 to 1,943 on the NASDAQ.
 
The SPY MFC green line is pointed up at 72.3 and is bullish.  SPY is an all-time closing high. 
 
 
Uptrend sectors:  XLK, XLY, XLRE, XLE, XLB, XLI, XLF, XLV,
Neutral sectors:  XLP, XLU,
Down trend sectors: XLC,
 
The 6-month intermediate trend is up.  The ten-day trend is up.
 
3-month Intermediate Term Market Trend: Up
3-day Short Term Market Trend: Up
 
70 of 100 NDX stocks closed higher on Friday.
 
52 NDX stocks are above their 30 DMA:  DLTR, VRSK, XLNX, AVGO, AAPL, COST, INTU, QCOM, KLAC, NXPI, PTON, VRSN, LRCX, MCHP, MU, GILD, VRTX, ADP, CDW, CSCO, FAST, ORLY, SNPS, TXN, XEL, CSX, MRVL, PEP, AEP, AMGN, ANSS, CTAS, CTSH, FISV, INTC, SBUX, WBA, ADI, ALGN, AMAT, CERN, GOOGL, MNST, REGN, MAR, PCAR, SWKS, CDNS, EXC, MDLZ, MSFT, PAYX,
 
 
NDX Stocks to Watch on Monday:
Moving Above 30 DMA = 5
CDNS, EXC, MDLZ, MSFT, PAYX,
 
Moving Below 30 DMA = 2
INCY, NVDA,
 
 
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RUT, NDX, SPX Pullback as DJI Closes Higher...Consumer Staples Lead Sectors, Technology Lags...AVGO, COST Rise on EPS Reaction in After-hours...

 
 
© 2021
 
 

Stocks opened lower after a Weekly Jobless Claims report of 184K, the lowest level in 52 years, vs an estimate of 215K.  Stocks traded in a relatively narrow range on Thursday until the last hour when SPX, NDX and RUT broke below Wednesday’s low,
 
IWM, QQQ and SPY closed lower while DIA closed higher.  The SPX closed at 4,667 -33.76, and the NDX closed at 16,149, -244.64.

After-hours:
AVGO +35.58, +6.10% up on a positive earnings reaction.
COST +6.04, +1.15% up on a positive earnings reaction.

November CPI will be released Friday BMO at 8:30 am ET.

 
 
SPY down 3.17 at 466.35, on 61.2 million shares, below average volume, down on lower volume.  
VIX up 1.68 at 21.58
QQQ down 5.88 at 393.73
 
WMT, WBA, V, MCD led the DJIA, 12 advancers, -4
HRL, CVS, HUM, ANET led the SPX, 121 advancers.
REGN, JD, KHC, CSCO led the NDX, 10 advancers. 
 
The two-year trend term is up.  The one-year trend is up.
 
Up: DIA, 
Down: SPY, QQQ, IWM,
 
SPY = channel bounce pause
DIA = channel bounce continuation
QQQ = channel bounce pause
IWM = reversal BO test, re-breakout setup
 
Two of eleven sectors were higher on Thursday, led by XLP, XLV and XLU.
 
Consumer Staples leaders: HRL, KR, WMT, WBA
Health Care leaders: CVS, HUM, ABBV, MCK
Utilities leaders: D, ATO, ETR, DTE
 
Advancers weakened on Thursday as decliners led 2,487 to 849 on the NYSE and led 3,595 to 1,122 on the NASDAQ.
 
The SPY MFC green line is pointed up at 58.2 and is bullish.  SPY is a channel bounce pause. 
 
 
Uptrend sectors:  XLK, XLY, XLRE, XLE, XLB, XLI, XLF, XLV,
Neutral sectors:  XLP, XLU,
Down trend sectors: XLC,
 
The 6-month intermediate trend is up.  The ten-day trend is up.
 
3-month Intermediate Term Market Trend: Up
3-day Short Term Market Trend: Up
 
10 of 100 NDX stocks closed higher on Thursday.
 
49 NDX stocks are above their 30 DMA:  DLTR, VRSK, XLNX, AVGO, NVDA, AAPL, COST, INTU, QCOM, KLAC, NXPI, PTON, VRSN, LRCX, MCHP, MU, GILD, VRTX, ADP, CDW, CSCO, FAST, ORLY, SNPS, TXN, XEL, CSX, MRVL, PEP, AEP, AMGN, ANSS, CTAS, CTSH, FISV, INTC, SBUX, WBA, ADI, ALGN, AMAT, CERN, GOOGL, INCY, MNST, REGN, MAR, PCAR, SWKS, 
 
NDX Stocks to Watch on Friday:
Moving Above 30 DMA = 1
SWKS,  
 
Moving Below 30 DMA = 4
AMD, AMZN, CDNS, MSFT,
 
 
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IWM, QQQ Lead Day Three Rally...AAPL Leads DJI...Health Care Leads Sectors...

  
© 2021
 
 
Stocks opened flat and closed higher on Wednesday as IWM and QQQ led.  The SPX closed at 4,701 +14.46, and the NDX closed at 16,394, +68.67.
 
 
SPY up 1.24 at 469.52, on 72.2 million shares, average volume, up on lower volume.  
VIX down 1.99 at 19.90
QQQ up 1.78, +0.45% at 399.61
 
AAPL, DIS, MRK, AXP led the DJIA, 16 advancers, -8
NCLH, CCL, RCL, SWN led the SPX, 309 advancers.
DOCU, PTON, OKTA, BIIB led the NDX, 63 advancers. 
 
The two-year trend term is up.  The one-year trend is up.
 
Up: IWM, QQQ, SPY, DIA,  
Down:
 
SPY = channel bounce continuation
DIA = channel bounce continuation
QQQ = channel bounce continuation
IWM = channel bounce continuation
 
Seven of eleven sectors were higher on Wednesday, led by XLV, XLC and XLK.
 
Health Care leaders: BIIB, EW, CTLT, REGN
Communication Services leaders: TWTR, GCI, FB, IPG
Technology leaders: PYPL, SNPS, CTXS, AAPL
 
Advancers weakened on Wednesday as advancers led 2,070 to 1,294 on the NYSE and led 3,130 to 1,569 on the NASDAQ.
 
The SPY MFC green line is pointed up at 50.2 and is bullish.  SPY is a channel bounce continuation. 
 
 
Uptrend sectors:  XLK, XLY, XLRE, XLE, XLB, XLI, XLF, XLV,
Neutral sectors:  XLP, XLU,
Down trend sectors: XLC,
 
The 6-month intermediate trend is up.  The ten-day trend is up.
 
3-month Intermediate Term Market Trend: Up
3-day Short Term Market Trend: Up
 
63 of 100 NDX stocks closed higher on Wednesday.
 
52 NDX stocks are above their 30 DMA:  DLTR, VRSK, XLNX, AVGO, NVDA, AAPL, COST, INTU, QCOM, KLAC, NXPI, PTON, VRSN, LRCX, MCHP, MU, GILD, VRTX, ADP, CDW, CSCO, FAST, ORLY, SNPS, TXN, XEL, CSX, MRVL, PEP, AEP, AMGN, ANSS, CTAS, CTSH, FISV, INTC, SBUX, WBA, ADI, ALGN, AMAT, AMD, AMZN, CDNS, CERN, GOOGL, INCY, MNST, MSFT, REGN, MAR, PCAR,
 
 
NDX Stocks to Watch on Thursday:
Moving Above 30 DMA = 2
MAR, PCAR,  
 
Moving Below 30 DMA = 4
EXC, MDLZ, NTES, TMUS,
 
 
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