Higher Open, Close Above the HOLD...JPM Lifts Outlook, Financials Leads All Sectors Higher...

© 2022

 

JPM raised their net interest income outlook before the open and the Financial Sector led all sectors higher on Monday. Expectations that the EU would raise interest rates lifted the Euro.

The SPX +72.39 opened higher, rallied and closed above the high of Friday’s hammer giving a channel bounce entry signal.  The SPX closed 163 points above Friday’s low of 3,810.

SPY up 7.29 at 396.92, on 76.3 million shares, below average volume, up on lower volume.

VIX down .95 at 28.48

QQQ up 4.80 at 293.48

 

JPM, V, AAPL, AXP led the DJIA, 27 advancers, +11

SWN, DE, SLB, TTWO led the SPX, 421 advancers

ROST, PANW ASML, AAPL led the NDX, 75 advancers

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

Up:  DIA, SPY, QQQ, IWM,

Down: 

All eleven sectors were higher on Monday, led by XLF, XLE and XLK the weakest.

Financial leaders:  JPM, C, BAC, CMA

Energy leaders:  SWN, SLB, APA, CTRA

Technology leaders: V, AAPL, MA, FISV

Advancers strengthened on Monday as advancers led 2,264 to 1,026 on the NYSE and led 2,762 led to 1,902 on the NASDAQ.

The SPY MFC green line is turned up at 16.8 and is short-term bullish.  SPY opened higher and closed above the HOLD which was a hammer candle at support.

Uptrend sectors:  XLE, XLU,

Neutral sectors:  XLP, XLV, XLB,

Down trend sectors: XLRE, XLY, XLI, XLK, XLF, XLC,

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

3-month Intermediate Term Market Trend: Down

3-day Short Term Market Trend: Up a little

75 of 100 NDX stocks closed higher on Monday.

22 NDX stocks are above their 30 DMA:   MNST, GILD, AMD, EA, NTES, NXPI, XEL, SGEN, ADI, KLAC, BIDU, PDD, SNPS, AMGN, LRCX, EXC, FISV, MCHP, RGEN, SIRI, TMUS, VRTX,

NDX Stocks to Watch on Tuesday:

Moving Above 30 DMA = 7

EXC, FISV, MCHP, REGN, SIRI, TMUS, VRTX,

Moving Below 30 DMA = 0

  

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SPX Rallies 90 Points from Low after Bullard Comments on Recession...PANW Leads NDX...Health Care Leads Sectors

 © 2022

On Friday, the SPX fell 130 points to 3,810, and began to rally after 1:30 pm ET as St. Louis Fed President James Bullard expected 2022 growth to lower than last year but above trend rate, better in the second half of the year than the first half, in the 2 ½ to 3% for the year, sees no recession this year and unemployment will likely move down further.  After Bullard’s comments the SPX rallied 90 points to close at 3,901.

PANW +42.31, +9.70, after better-than-expected earnings led the SPX followed by CRWD, FTNT and ZS.

SPY up .17 at 389.63, on 131.4 million shares, above average volume, up slightly on higher volume.

VIX up .08 at 29.35
QQQ down .90 at 288.68

CSCO, CRM, MCD, JNJ led the DJIA, 16 advancers, +10

VFC, AMT, LLY, MKTX led the SPX, 288 advancers
PANW, CRWD, FTNT, ZS led the NDX, 62 advancers 

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

Up:  SPY,

Down:  DIA, IWM, QQQ,

Seven of eleven sectors were higher on Friday, led by XLV, XLRE and XLE the weakest.

Health Care leaders:  LLY, PFE, BIIB, CNC

Real Estate leaders:  AMT, DLR, CCI, EQIX,

Energy leaders: SWN, APA, HAL

Advancers weakened on Friday as decliners led 1,736 to 1,535 on the NYSE and led 2,517 led to 2,125 on the NASDAQ.

The SPY MFC green line is pointed down at 16.2 and is short-term bearish.  SPY traded below short-term support, rallied after Bullard made positive recession comments in a financial TV interview, closed higher for the day and formed a hammer at support.

Uptrend sectors:  XLE, XLU,

Neutral sectors:  XLP, XLV, XLB,

Down trend sectors: XLRE, XLY, XLI, XLK, XLF, XLC,

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

3-month Intermediate Term Market Trend: Down

3-day Short Term Market Trend: Down

62 of 100 NDX stocks closed higher on Friday.

15 NDX stocks are above their 30 DMA:   MNST, GILD, AMD, EA, NTES, NXPI, XEL, SGEN, ADI, KLAC, BIDU, PDD, SNPS, AMGN, LRCX,

NDX Stocks to Watch on Monday:

Moving Above 30 DMA = 2

AMGN, LRCX,

Moving Below 30 DMA = 1

LCID,  

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SPY, DIA, QQQ, IWM Trading Range as Volatility Pauses...Materials, Health Care, Discretionary Lead Sectors...PANW Up After-hours...

 
© 2022
 
 
The SPX fell -22 points Thursday, the day after a 165-point drop on Wednesday.  Broad indexes found balance between buyers and sellers in a choppy, volatile trading range.  Today, SPY, QQQ and IWM formed an inverted hammer and a higher low than last Thursday.  Bounce or break?
 
After hours earnings:  PANW up, ROST, AMAT down.

SPY down 2.40 at 389.46, on 98.5 million shares, average volume, down on lower volume.
VIX down 1.61 at 29.35
QQQ down 1.56 at 289.58
 
UNH, BA, HD, GS led the DJIA, 6 advancers, +6
SNPS, MKTX, GNRC, ENPH led the SPX, 218 advancers
LCID, DDOG, PDD, TEAM led the NDX, 64 advancers
 
The two-year trend term is up.  The one-year trend down a little.
 
Up:  IWM,
Down:  QQQ, SPY, DIA,
 
Three of eleven sectors were higher on Thursday, led by XLB, XLV and XLY the weakest.
 
Materials leaders:  FCX, NEM, CTVA, PPG
Health Care leaders:  BIO, CRL, HUM, WST
Consumer Discretionary leaders: EXPE, AZO, BKNG, DPZ
 
Advancers strengthened on Thursday as advancers led 1,775 to 1,573 on the NYSE and led 2,647 led to 2,023 on the NASDAQ.


The SPY MFC green line is turned down at 18.1 and is short-term bearish.  SPY traded in a range near short-term support.
 
Uptrend sectors:  XLE, XLU,
Neutral sectors:  XLP, XLV, XLB,
Down trend sectors: XLRE, XLY, XLI, XLK, XLF, XLC,
 
The 6-month intermediate trend is down.  The ten-day trend is down.
 
3-month Intermediate Term Market Trend: Down
3-day Short Term Market Trend: Down
 
64 of 100 NDX stocks closed higher on Thursday.
 
15 NDX stocks are above their 30 DMA:   MNST, GILD, AMD, EA, NTES, NXPI, XEL, AMGN, SGEN, ADI, KLAC, BIDU, LCID, PDD, SNPS,
 
NDX Stocks to Watch on Friday:
Moving Above 30 DMA = 4
BIDU, LCID, PDD, SNPS,
 
Moving Below 30 DMA = 3
HON, LRCX, MU,
 
 
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SPX 165 point Selloff after 80 point Rally on Tuesday...All Sectors and Dow Stocks Mover Lower...TGT Gaps Down on Earning's Miss...

 
© 2022

The SPX fell -165 points Wednesday, the day after an 80-point rally following Fed Chair Powell’s interview with the “WSJ Future of Everything Festival” Tuesday afternoon.  Wednesday’s selloff was triggered after an earning’s miss by TGT which fell -24.93%.  All sectors moved significantly lower, all 30 Dow were down, only two NDX stocks and eight SPX stocks move higher.

SPY down 16.46 at 391.86, on 117.6 million shares, above average volume, down on higher volume.

VIX up 4.86 at 30.96
QQQ down 15.03 at 291.14

VZ, AMGN, MRK led the DJIA, 0 advancers, -24

TJX, AIZ, NRG, PGR led the SPX, 8 advancers

EA, GILD led the NDX, 2 advancers

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

Up: 

Down:  IWM, DIA, SPY, QQQ,

All eleven sectors fell between -0.97% to -6.54% on Wednesday, with XLK, XLP and XLY the weakest.

Advancers weakened on Wednesday as decliners led 2,775 to 547 on the NYSE and led 3,713 led to 972on the NASDAQ.

The SPY MFC green line is pointed up at 18.7 and is short-term bullish.  SPY reversed Tuesday’s rally and the SPX dropped 165 points after rising 80 points on Tuesday.

Uptrend sectors:  XLE, XLU,

Neutral sectors:  XLP, XLV, XLB,

Down trend sectors: XLRE, XLY, XLI, XLK, XLF, XLC,

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

3-month Intermediate Term Market Trend: Down

3-day Short Term Market Trend: Down

2 of 100 NDX stocks closed higher on Wednesday.

14 NDX stocks are above their 30 DMA:   MNST, GILD, HON, AMD, EA, LRCX, NTES, NXPI, XEL, AMGN, SGEN, ADI, KLAC, MU,

NDX Stocks to Watch on Thursday:

Moving Above 30 DMA = 0

Moving Below 30 DMA = 15

ADSK, AEP, AMAT, ATVI, AVGO, BIDU, KHC, MCHP, MDLZ, PCAR, PDD, PEP, QCOM, TXN, WBA,

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IWM, QQQ, SPY, DIA Broad Rally Closes Higher after Powell Speaks...Technology, Materials, Financial Lead Sectors...HD Beats on Earnings...

© 2022

IWM, QQQ, SPY and DIA opened higher, pulled back twice including during Fed Chair Powell’s interview with the “WSJ Future of Everything Festival” at 2 p.m. ET and then rallied to a new daily high after concluding his comments.  Tuesday’s rally was broad as advancers climbed and decliners fell, ten sectors gained, and volatility fell. 

HD beat estimates on revenues and earnings and closed higher.  WMT -11.38% after a lower-than-expected earnings report Tuesday BMO. The Retails Sales report BMO was better than expected. 

SPY up 8.23 at 408.32, on 82.9 million shares, below average volume, up on higher volume.

VIX down 1.37 at 26.10

QQQ up 7.73 at 306.17

BA, AXP, JPM DIS led the DJIA, 24 advancers, +7

PARA, TTWO, SWN, UAL led the SPX, 451 advancers

AMD, KLAC, LRCX, PDD led the NDX, 89 advancers

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

Up:  IWM, QQQ, SPY, DIA,

Down:  

Ten of eleven sectors were higher on Tuesday, led by XLK, XLB and XLF.

Technology leaders:  AMD, SEDG, KLAC, LRCX

Materials leaders:  CE, FCX, ALB, NUE

Financial leaders: C, SYF, COF, IVZ

Advancers strengthened on Tuesday as advancers led 2,489 to 844 on the NYSE and led 3,621 led to 1,125 on the NASDAQ.

The SPY MFC green line is pointed up at 17.1 and is short-term bullish.  SPY traded higher for the third straight on Tuesday.

Uptrend sectors:  XLE, XLU, XLP,
Neutral sectors:  XLV, XLB,

Down trend sectors: XLRE, XLY, XLI, XLK, XLF, XLC,

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

3-month Intermediate Term Market Trend: Down

3-day Short Term Market Trend: Up

89 of 100 NDX stocks closed higher on Tuesday.

29 NDX stocks are above their 30 DMA:  KHC, MDLZ, MNST, GILD, HON, AMD, EA, LRCX, NTES, NXPI, PEP, XEL, AMGN, SGEN, ADI, ADSK, AEP, AMAT, ATVI, AVGO, BIDU, KLAC, MCHP, MU, PCAR, PDD, QCOM, TXN, WBA,

NDX Stocks to Watch on Wednesday:

Moving Above 30 DMA = 15

ADI, ADSK, AEP, AMAT, ATVI, AVGO, BIDU, KLAC, MCHP, MU, PCAR, PDD, QCOM, TXN, WBA,

Moving Below 30 DMA = 0

 

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SPY, QQQ Pause on Monday...HD, WMT Earning Tuesday BMO...Energy, Health Care, Staples Lead Sectors...

 
© 2022

QQQ, SPY and IWM opened slightly lower and closed lower.  DIA opened lower and closed higher.  On Monday, sellers and buyers were in balance as SPY formed a doji.  Pauses/pullbacks on lighter volume generally are bullish, suggesting that short-term profit takers created supply, but that similar buying demand offset selling.

HD and WMT report earnings Tuesday BMO. Retails Sales report also will be released BMO.  Fed Chair Powell will speak Tuesday at the “WSJ Future of Everything Festival” at 2 p.m. ET.

SPY down 1.63 at 400.09, on 78.6 million shares, below average volume, down on lower volume.

VIX down 1.40 at 27.47
QQQ down 3.50 at 298.44

CVX, MRK, VZ, CAT led the DJIA, 17 advancers, -8

OXY, NRG, HAL, MRO led the SPX, 192 advancers
SGEN, VRTX, AZN, EA led the NDX, 27 advancers 

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

Up:  DIA,

Down:  SPY, IWM, QQQ

Four of eleven sectors were higher on Monday, led by XLE, XLV and XLP.

Energy leaders:  OXY, HAL, MRO, KMI,

Health Care leaders:  VRTX, CNC, CI, LLY

Consumer Staples leaders: ADM, HSY, TAP, PM

Advancers weakened on Monday as advancers led 1,691 to 1,624 on the NYSE and decliners led 2,771 led to 2,018 on the NASDAQ.

The SPY MFC green line is pointed up at 12 and is short-term bullish.  SPY traded in a range on Monday in a countertrend pause as did mega-cap stocks AAPL, MSFT, GOOGL and AMZN.

Uptrend sectors:  XLE, XLU, XLP,

Neutral sectors:  XLV, XLB,

Down trend sectors: XLRE, XLY, XLI, XLK, XLF, XLC,

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

3-month Intermediate Term Market Trend: Down

3-day Short Term Market Trend: Up

27 of 100 NDX stocks closed higher on Monday.

14 NDX stocks are above their 30 DMA:  KHC, MDLZ, MNST, GILD, HON, AMD, EA, LRCX, NTES, NXPI, PEP, XEL, AMGN, SGEN,

NDX Stocks to Watch on Tuesday:

Moving Above 30 DMA = 2

AMGN, SGEN,

Moving Below 30 DMA = 6

ADI, ADSK, AVGO, KLAC, MU, ODFL,

 

 

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