Thursday, May 5, 2022

Stocks Close Lower in Broad Selloff Reversing Wednesday's Rally, Closing at Support...All Sectors Close Lower...

 
© 2022
 

SPX -153.30 opened lower and sold off reversing Wednesday’s 124-point gain.  All four index ETFs and all 11 sectors closed significantly lower.  All 30 Dow stocks closed lower.
 
 
SPY down 15.25 at 413.81, on 177.9 million shares, above average volume, down on higher volume.
VIX up 5.78 at 30.66
QQQ down 16.60 at 313.00.
 
 
MRK, AMGN led the DJIA, 0 advancers, -30
EPAM, ALB, K, WRK, TWTR led the SPX, 18 advancers
BKNG, CHTR led the NDX, 2 advancers
 
The two-year trend term is up.  The one-year trend is sideways.

 
Up: 
Down:   DIA, SPY, IWM, QQQ,
 
All eleven sectors were lower on Thursday, led by XLU, XLE and XLP.
 
Utilities leaders:  ES, D
Energy leaders:  PXD, OXY, MRO
Consumer Staples leaders:  K, CPB

Advancers weakened on Thursday as decliners led 2,941 to 393 on the NYSE and led 3,970 to 788 on the NASDAQ.
 

The SPY MFC green line turned down at 19.1 and is short-term bearish.
SPY reversed Wednesday’s bounce and closed at support.    
 
 
Uptrend sectors:  XLE, XLU, XLP, XLV, XLB, XLRE,
Neutral sectors:  XLY, XLI,
Down trend sectors: XLK, XLF, XLC,
 
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
 
2 of 100 NDX stocks closed higher on Thursday.

 
9 NDX stocks are above their 30 DMA:  KHC, ROST, MDLZ, JD, HON, NXPI, GILD, MAR, ODFL,
 
NDX Stocks to Watch on Friday:
Moving Above 30 DMA = 0
   
 
Moving Below 30 DMA = 25
ADI, ADP, ADSK, AEP, ATVI, AVGO, CDNS, CSX, DLTR, EXC, FB, FISV, KLAC, LRCX, MCHP, MNST, MU, NTES, PCAR, PDD, PEP, QCOM, TMUS, VRTX, XEL,
 
 
Earnings season: 
Thursday AMC: AEE AES DVA ED EOG FLT ILMN LYV MNST MTD NLOK NWSA RSG VRTX VTR = 15
 
Friday BMO:  CI, DISH, NRG UAA = 4
 
Q1 Earnings Reports since April 13:
Positive reactions: EPAM, ALB, K, BKNG, WRK, PAYC, GNRC, SBUX, XYL, AMCR, AMD AIG EXR, REG, MTCH, MRNA, CDW, VMC, CVS, MAR, ABC, OKE TECH, CTLT, DVN, CTRA, MOS, WAT, IPGP, MPC, CMI, BXP, HWM, MLM, SEDG, MHK,CE, HON, FB, PTC, PYPL, QCOM, TYL, NOW, CHRW, DFS, TMO, EQIX, TXT,  LLY, MA, MRK, LKQ, MCD, ABMD, AEP, AWK, GWW, HSY, KIM, LVS, PHM, RJF, URI, ENPH, V, CME, FISV, MSFT, MAS, TL, WAB, TMUS, CB, NSC, STX, HUM IEX, CMG, ADP, ROL, APH, IQV, GM, HKC, GD, HES, BSX, SIVB, KMB, SLB, UAL, T, AAL, NUE, TSLA, DOW, CSX MMC, DGX, PM, MTB, IBM, OMC, MKTX, ASML, PG, ANTM, ABT, SBNY, CFG, HAS, FITB, PLD, JNJ, JBHT, SYF, BAC, C, USB, FRC, DAL, FAST,
 
Neutral reactions: TWTR, HOLX, TXN, ETR, MDLZ, ESS, AMT, GRMN, ODFL, PPG, RF, GL, GPC, ALK, KMI, SNA, DHR, CCI, TSCO, HBAN, HAL, GS, MS, UNH, BLK,
 
Negative reactions: ETSY, CTSH, EBAY, QRVO, APA, CDAY, BLL, ICE, PENN, ANSS, RCL, APTV, AKAM, JCI, IDXX, SWKS, VRSK, PEAK, ROK, EXPE, FMC, EL, HLT ANET IT ABRA, MGM, GPN, MCO, VRSN, AMZN, CINF, AON, CHTR, INTC, RMD, FBHS AJS ABBV, CL KLAC AAPL CVX, LHX, BMY, XOM, CBOE, DXCM, ALGN, ORLY, SWK, TFX, CMCSA, DPZ, AMGN, AFL, AOS, CHD, LH, F, FFIV, RHI, BA, COF, EW, JNPR, GOOGL, EQR, TDY, UDR, CNC, TER, FE, ISRG, HCA, VZ, NEM, AXP, FCX, EFX, DOV, NEE, KEY, LRCX, PNR, UNP, POOL, NFLX, NDAQ, BKR, CMA, TRV, LMT, TFC, SCHW, BK, STT, WFC, PNC, JPM
 
 
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Wednesday, May 4, 2022

FOMC Raises 50 bps as Expected Followed by Broad Rally...Energy, Technology, Communication Lead Sectors...


© 2022


QQQ, SPY, DIA, IWM opened slightly higher, traded in a range until after the FOMC announcement of 50 bps rate increase as expected.  After the expected rate increase a broad rally into the close lifted all four index ETFs and all 11 sectors.  All 30 Dow stocks, 474 SPX stocks and 94 NDX stocks closed higher.


SPY up 12.68 at 429.06, on 144.2 million shares, above average volume, up on higher volume.
VIX down 3.83 at 25.42
QQQ up 10.78 at 329.60
  
HON, CAT, MMM, AAPL led the DJIA, 30 advancers, +11
PAYC, GNRC, ENPH, XYL led the SPX, 474 advancers.
SBUX, AMD, ABNB, MTCH led the NDX, 94 advancers.
  
The two-year trend term is up.  The one-year trend is sideways.

Up:  QQQ, SPY, DIA, IWM,
Down:  
 
All eleven sectors were higher on Wednesday, led by XLE, XLK and XLC.

 
Energy leaders:  FTI, APA, SLB, PSX
Technology leaders:  PAYC, ENPH, AMD, SEDG
Communication Services leaders:  MTCH, FB, CHTR, TMUS


Advancers strengthened on
Wednesday as advancers led 2,713 to 612 on the NYSE and led 3,426 to 1,338 on the NASDAQ.

The SPY MFC green line is 
pointed up at 21.4 and is short-term bullish.  SPY bounced for a second day and made its highest close in 8 days.    

Uptrend sectors:  XLE, XLU, XLP, XLV, XLB, XLRE,
Neutral sectors:  XLY, XLI,
Down trend sectors: XLK, XLF, XLC,
 
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
 
94 of 100 NDX stocks closed higher on Wednesday.
 
34 NDX stocks are above their 30 DMA:  KHC, MNST, ROST, MDLZ, JD, NTES, PDD, DLTR, HON, NXPI, ADI, ADP, ADSK, AEP, ATVI, AVGO, CDNS, CSX, EXC, FB, FISV, GILD, KLAC, LRCX, MAR, MCHP, MU, ODFL, PCAR, PEP, QCOM, TMUS, VRTX, XEL,
 
NDX Stocks 
to Watch on Thursday:

Moving Above 30 DMA = 24
ADI, ADP, ADSK, AEP, ATVI, AVGO, CDNS, CSX, EXC, FB, FISV, GILD, KLAC, LRCX, MAR, MCHP, MU, ODFL, PCAR, PEP, QCOM, TMUS, VRTX, XEL,   
 

Moving Below 30 DMA = 0

 

Earnings season: 


Wednesday AMC: ALB ALL ANSS APA ATO BKNG CDAY CTSH CTVA EBAY ES ETSY FTNT HST IR LNC LUMN MET MRO O PXD QRVO =22
 
Thursday BMO:  APD APTV BDX BLL CAH CBRE COP CTXS D EPAM EVRG FRT GCI HII ICE K PENN PH PPL PWR RCL SRE TRMB WRK ZTS = 25
 

Q1 Earnings Reports since April 13:

Positive reactions: PAYC, GNRC, SBUX, XYL, AMCR, AMD AIG EXR, REG, MTCH MRNA, CDW, VMC, CVS, MAR, ABC, OKE TECH, CTLT, DVN, CTRA, MOS, WAT, IPGP, MPC, CMI, BXP, HWM, MLM, SEDG, MHK,CE, HON, FB, PTC, PYPL, QCOM, TYL, NOW, CHRW, DFS, TMO, EQIX, TXT,  LLY, MA, MRK, LKQ, MCD, ABMD, AEP, AWK, GWW, HSY, KIM, LVS, PHM, RJF, URI, ENPH, V, CME, FISV, MSFT, MAS, TL, WAB, TMUS, CB, NSC, STX, HUM IEX, CMG, ADP, ROL, APH, IQV, GM, HKC, GD, HES, BSX, SIVB, KMB, SLB, UAL, T, AAL, NUE, TSLA, DOW, CSX MMC, DGX, PM, MTB, IBM, OMC, MKTX, ASML, PG, ANTM, ABT, SBNY, CFG, HAS, FITB, PLD, JNJ, JBHT, SYF, BAC, C, USB, FRC, DAL, FAST,

Neutral reactions: TWTR, HOLX, TXN, ETR, MDLZ, ESS, AMT, GRMN, ODFL, PPG, RF, GL, GPC, ALK, KMI, SNA, DHR, CCI, TSCO, HBAN, HAL, GS, MS, UNH, BLK,

Negative reactions: AKAM, JCI IDXX, SWKS, VRSK, PEAK,  ROK, EXPE, FMC, EL, HLT ANET IT ABRA, MGM, GPN, MCO, VRSN, AMZN, CINF, AON, CHTR, INTC, RMD, FBHS AJS ABBV, CL KLAC AAPL CVX, LHX, BMY, XOM, CBOE, DXCM, ALGN, ORLY, SWK, TFX, CMCSA, DPZ, AMGN, AFL, AOS, CHD, LH, F, FFIV, RHI, BA, COF, EW, JNPR, GOOGL, EQR, TDY, UDR, CNC, TER, FE, ISRG, HCA, VZ, NEM, AXP, FCX, EFX, DOV, NEE, KEY, LRCX, PNR, UNP, POOL, NFLX, NDAQ, BKR, CMA, TRV, LMT, TFC, SCHW, BK, STT, WFC, PNC, JPM


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Tuesday, May 3, 2022

SPY, IWM, QQQ Close Above HOLD...Energy, Financial, Real Estate Lead Sector...Earnings Continue...FOMC Announcement Wednesday 2p pm ET...


© 2022 


QQQ, SPY, DIA, IWM opened flat, traded in a range, and closed higher.  SPY, IWM and QQQ bounced for a second day and closed above the HOLD.  FOMC expected to raise Fed funds rate 50 bps in announcement on Wednesday at 2 pm ET, with a press conference beginning at 2:30 pm ET.

SPY up 1.90 at 416.38, on 100.0 million shares, average volume, up on lower volume.
VIX 
down 3.09 at 29.25
QQQ up .34 at 318.82.
 

BA, JPM, VZ, CVX led the DJIA, 19 advancers, +2

WDC, CTLT, DVN, CTRA, MOS led the SPX, 364 advancers.
VRSN, MRNA, LCID, VRTX, FISV, led the NDX, 55 advancers.
 
The two-year trend term is up.  The one-year trend is sideways.
 
Up:  IWM, SPY, DIA, QQQ,
Down:  
 
Nine of eleven sectors were higher on Tuesday, led by XLE, XLF and XLRE.

Energy leaders:  DVN, CTRA, FANG, MRO

Financial leaders:  SIVB, C, MCO, TROW
Real Estate leaders:  VTR, IRM, BXP, SPG


Advancers strengthened on
Tuesday as advancers led 2,087 to 1,237 on the NYSE and led 2,667 to 2,036 on the NASDAQ.

The SPY MFC green line is 
turned up at 14 and is short-term bullish.  SPY closed above the HOLD at 2-month support.

Uptrend sectors:  XLE, XLU, XLP, XLV, XLB, XLRE,
Neutral sectors:  XLY, XLI,
Down trend sectors: XLK, XLF, XLC,
 
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: Down


55 of 100 NDX stocks closed higher on Tuesday.
 
10 NDX stocks are above their 30 DMA:  KHC, MNST, ROST, MDLZ, JD, NTES, PDD, DLTR, HON, NXPI,
 
NDX Stocks 
to Watch on Wednesday:
Moving Above 30 DMA = 1

NXPI,   

Moving Below 30 DMA = 2

MAR, QCOM,
 
 
Earnings season: 
Tuesday AMC: AMD AIG AIZ AKAM AMCR CZR EIX EXR JKHY MTCH OKE PAYC PEAK PKI PRU PSA REG SBUX SWKS VRSK

Wednesday BMO:  ABC BWA CDW CRL CVS EMR GNRC IDXX JCI MAR MRNA NI PNW REGN TECH TT VMC XYL YUM

 

Q1 Earnings Reports since April 13:
Positive reactions: CTLT, DVN,CTRA, MOS, WAT, IPGP, MPC, CMI, BXP, HWM, MLM, SEDG, MHK,CE, HON, FB, PTC, PYPL, QCOM, TYL, NOW, CHRW, DFS, TMO, EQIX, TXT,  LLY, MA, MRK, LKQ, MCD, ABMD, AEP, AWK, GWW, HSY, KIM, LVS, PHM, RJF, URI, ENPH, V, CME, FISV, MSFT, MAS, TL, WAB, TMUS, CB, NSC, STX, HUM IEX, CMG, ADP, ROL, APH, IQV, GM, HKC, GD, HES, BSX, SIVB, KMB, SLB, UAL, T, AAL, NUE, TSLA, DOW, CSX MMC, DGX, PM, MTB, IBM, OMC, MKTX, ASML, PG, ANTM, ABT, SBNY, CFG, HAS, FITB, PLD, JNJ, JBHT, SYF, BAC, C, USB, FRC, DAL, FAST,

Neutral reactions: TWTR, HOLX, TXN, ETR, MDLZ, ESS, AMT, GRMN, ODFL, PPG, RF, GL, GPC, ALK, KMI, SNA, DHR, CCI, TSCO, HBAN, HAL, GS, MS, UNH, BLK,

Negative reactions: ROK, EXPE, FMC, EL, HLT ANET IT ABRA, MGM, GPN, MCO, VRSN, AMZN, CINF, AON, CHTR, INTC, RMD, FBHS AJS ABBV, CL KLAC AAPL CVX, LHX, BMY, XOM, CBOE, DXCM, ALGN, ORLY, SWK, TFX, CMCSA, DPZ, AMGN, AFL, AOS, CHD, LH, F, FFIV, RHI, BA, COF, EW, JNPR, GOOGL, EQR, TDY, UDR, CNC, TER, FE, ISRG, HCA, VZ, NEM, AXP, FCX, EFX, DOV, NEE, KEY, LRCX, PNR, UNP, POOL, NFLX, NDAQ, BKR, CMA, TRV, LMT, TFC, SCHW, BK, STT, WFC, PNC, JPM

 

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Monday, May 2, 2022

SPX, SPY Drops to One-year Support, Bounce to Form Hammer...Potential Capitulation Low...FOMC Announcement on Wednesday...

© 2022


QQQ, SPY, DIA, IWM opened flat, rallied for an hour, followed by a selloff in which the SPX dropped more than 100 points from high to low.  In the afternoon, selling exhausted as the SPX hit its one-year support area and rallied more than 90 points, closed up 23 points on Monday and formed a hammer candle pattern on the SPX and SPY.

FOMC meets Tuesday, Wednesday, expected to raise rates 50 bps at 2:00 pm ET on Wednesday.  2:30 pm ET press conference.


SPY up 2.48 at 414.48, on 158.1 million shares, above average volume, up on higher volume.
VIX down 1.06 at 32.34
QQQ up 5.23 at 318.48.


INTC, MSFT, HD, CVX led the DJIA, 17 advancers, +15
EPAM, KMX, WBD, OXY led the SPX, 271 advancers.
ALGN, DOCU, MRNA, LCID led the NDX, 72 advancers.

 
The two-year trend term is up.  The one-year trend is sideways.
 
Up:  QQQ, IWM, SPY, DIA,
Down:  


Six of eleven sectors were higher on Monday, led by XLC, XLE and XLK.


Communication Services leaders:  FB, NFLX, PARA, ATVI
Energy leaders:  OXY, VLO, PSX, DINO
Technology leaders:  EPAM, NVDA, QRVO, AMD

Advancers strengthened on Monday as decliners led 1,902 to 1,429 on the NYSE and advancers led 2,674 to 2,070 on the NASDAQ.


The SPY MFC green line is pointed down at 10.1 and is short-term bearish.  SPY broke 2-month support, fell to one year support levels and bounced back above 2-month support.    

Uptrend sectors:  XLE, XLU, XLP, XLV, XLB, XLRE,
Neutral sectors:  XLY, XLI,
Down trend sectors: XLK, XLF, XLC,
 
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: Down a little
 
72 of 100 NDX stocks closed higher on Monday.
 
11 NDX stocks are above their 30 DMA:  KHC, MNST, ROST, MDLZ, MAR, JD, NTES, PDD, DLTR, HON, QCOM,

 
NDX Stocks to Watch on Tuesday:
Moving Above 30 DMA = 3
DLTR, HON, QCOM,
Moving Below 30 DMA = 3
PEP, VRTX, XEL,

Earnings season: 

Monday AMC: ANET, BXP, CLX, CTRA, DVN, EXPE, FAN, FMC, MGM, MOS, NXPI, SEDG, VNO, WMB

Tuesday BMO:  AME BEN BIIB BR CMI CMS CNP CTLT DD DISH EL ETN EXPD FIS HLT HSIC HWM INCY IPGP IT ITW J LDOS MLM MPC PARA PEG PFE ROK SEE SPGI TAP WAT ZBH ZBRA

Q1 Earnings Reports since April 13:

Positive reactions: MHK,CE, HON, FB, PTC, PYPL, QCOM, TYL, NOW, CHRW, DFS, TMO, EQIX, TXT,  LLY, MA, MRK, LKQ, MCD, ABMD, AEP, AWK, GWW, HSY, KIM, LVS, PHM, RJF, URI, ENPH, V, CME, FISV, MSFT, MAS, TL, WAB, TMUS, CB, NSC, STX, HUM IEX, CMG, ADP, ROL, APH, IQV, GM, HKC, GD, HES, BSX, SIVB, KMB, SLB, UAL, T, AAL, NUE, TSLA, DOW, CSX MMC, DGX, PM, MTB, IBM, OMC, MKTX, ASML, PG, ANTM, ABT, SBNY, CFG, HAS, FITB, PLD, JNJ, JBHT, SYF, BAC, C, USB, FRC, DAL, FAST,

Neutral reactions: TWTR, HOLX, TXN, ETR, MDLZ, ESS, AMT, GRMN, ODFL, PPG, RF, GL, GPC, ALK, KMI, SNA, DHR, CCI, TSCO, HBAN, HAL, GS, MS, UNH, BLK,

Negative reactions:  GPN, MCO, VRSN, AMZN, CINF, AON, CHTR, INTC, RMD, FBHS AJS ABBV, CL KLAC AAPL CVX, LHX, BMY, XOM, CBOE, DXCM, ALGN, ORLY, SWK, TFX, CMCSA, DPZ, AMGN, AFL, AOS, CHD, LH, F, FFIV, RHI, BA, COF, EW, JNPR, GOOGL, EQR, TDY, UDR, CNC, TER, FE, ISRG, HCA, VZ, NEM, AXP, FCX, EFX, DOV, NEE, KEY, LRCX, PNR, UNP, POOL, NFLX, NDAQ, BKR, CMA, TRV, LMT, TFC, SCHW, BK, STT, WFC, PNC, JPM


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