Selloff Accelerates as Breadth Weakens on Friday...All Sectors Move Lower for Second Straight Day...

 
© 2022

 
SPY down 12.02 at 426.04, on 132.4 million shares, above average volume, down on higher volume.
VIX up 5.53 at 28.21
QQQ down 8.75 at 325.40.
 
PG, JNJ led the DJIA, 0 advancers, -8
KMB, SIVB, TWTR, TTWO led the SPX, 15 advancers.
EA, JD, NTES led the NDX, 3 advancers.
 
The two-year trend term is up.  The one-year trend is up.
 
Up:
Down:  IWM, QQQ, DIA, SPY,
 
All eleven sectors were lower on Friday, led by XLP and XLRE. 
 
 
Advancers weakened on Friday as decliners led 2,809 to 537 on the NYSE and led 3,537 to 1,115 on the NASDAQ.
 
The SPY MFC green line is pointed down at 49.1 and is short-term bearish.  SPY broke short-term support and made its lowest close since March 14, in a 3-month sideways channel.    
 
 
Uptrend sectors:  XLE, XLU, XLP, XLV, XLB, XLRE,
Neutral sectors:  XLF, XLI,
Down trend sectors: XLK, XLY, 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
 
3 of 100 NDX stocks closed higher on Friday.
 
20 NDX stocks are above their 30 DMA:  EXC, DLTR, KHC, COST, AEP, AMGN, XEL, VRTX, VRSK, TSLA, PEP, LULU, MNST, ROST, GILD, MDLZ, ORLY, MAR, TSLA, EA,
 
NDX Stocks to Watch on Monday:
Moving Above 30 DMA = 1
EA,   
 
Moving Below 30 DMA = 17
ADP, AZN, BIIB, BKNG, CMCSA, CSX, CTAS, FAST, FISV, HON, ISRG, KDP, PAYX, PCAR, REGN, TMUS, WBA,
 
 
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Indexes Open Higher, Rally, Reverse and Finish Lower...UAL Leads SPX...TSLA Leads NDX...

 
 
© 2022
 
 
SPY, QQQ, DIA, IWM opened higher and rallied for the first 30 minutes of trading.  The market began giving gains back during a Biden press conference.  The SPX turned negative and sold off in the afternoon as Powell spoke on an IMF panel during beginning at 1 pm ET.  The SPX closed down 65 points.
 
UAL +4.33, +9.31%, a positive earnings reaction.
TSLA, +31.58, +3.23%, reported record earnings. 
 
Oil futures, (/CL +1.58) closed at $104.03. 
 
Talks between UKR / RUS continue to have no clear path towards a ceasefire.  
 
Earnings season:  Friday morning EPS reports from AXP, HCA, KMB, NEM, RF, SLB, VZ and ISRG, PPG, SIVB, FE, Thursday AMC.
Q1 Earnings Reports:
Positive reactions: 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: GL, GPC, ALK, KMI, SNA, DHR, CCI, TSCO, HBAN, HAL, GS, MS, UNH, BLK,
Negative reactions: FCX, EFX, DOV, NEE, KEY, LRCX, PNR, UNP, POOL, NFLX, NDAQ, BKR, CMA, TRV, LMT, TFC, SCHW, BK, STT, WFC, PNC, JPM
 
 
SPY down 6.65 at 438.06, on 85.4 million shares, average volume, higher volume.
VIX up 2.36 at 22.68
QQQ down 7.06 at 334.15.
 
DOW, IBM, VZ, MMM led the DJIA, 8 advancers, -16
UAL, T, AAL, NUE led the SPX, 89 advancers.
TSLA, CSX, MNST, KHC led the NDX, 12 advancers.
 
The two-year trend term is up.  The one-year trend is up.
 
Up:
Down:  DIA, SPY, QQQ, IWM,
 
All eleven sectors were lower on Thursday, led by XLP and XLRE. 
 
 
Consumer Staples leaders:  MO, PM, MNST, KHC
Real Estate leaders:  HST, AVB, CPT, MAA
 
 
Advancers weakened on Thursday as decliners led 2,666 to 656 on the NYSE and led 3,730 to 1,043 on the NASDAQ.
 
The SPY MFC green line is turned down at 54.3 and is defensive.  SPY pulled back to short-term support in its 16-day pullback, in a 3-month sideways channel.    
 
 
Uptrend sectors:  XLE, XLU, XLP, XLV, XLB, XLRE,
Neutral sectors:  XLF, XLI,
Down trend sectors: XLK, XLY, 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
 
12 of 100 NDX stocks closed higher on Thursday.
 
36 NDX stocks are above their 30 DMA:  EXC, DLTR, KHC, COST, AEP, AMGN, PAYX, XEL, ADP, AZN, REGN, VRTX, CTAS, VRSK, TSLA, BIIB, PEP, BKNG, CMCSA, LULU, MNST, ROST, TMUS, GILD, MDLZ, ORLY, HON, MAR, FISV, ISRG, KDP, PCAR, WBA, CSX, FAST, TSLA,
 
NDX Stocks to Watch on Friday:
Moving Above 30 DMA = 3
CSX, FAST, TSLA,  
 
Moving Below 30 DMA = 12
ABNB, ADI, CDNS, CRWD, DXCM, FTNT, ILMN, INTC, INTU, PANW, TXN, VRSN,
 
 
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NFLX Leads QQQ/NDX Lower...DIA, IWM Rise...Real Estate, Staples, Health Care Lead Sectors...

 
 
© 2022
 
 
SPY, QQQ closed lower while DIA, IWM closed higher after a higher high trading range led by 8 sectors and strong earnings reactions from MTB, IBM, OMC on Wednesday.  Earnings continue on Thursday morning.

NFLX, -122.42, -35.12% led the NDX lower on Wednesday after earnings that missed on revenues and negative subscriber growth.   
 
TSLA, +53.98, +5.52% after hours, reported record earnings. 
 
Oil futures, (/CL +.05) closed at $102.45. 
 
Talks between UKR / RUS continue to have no clear path towards a ceasefire.  
 
Earnings season:  Thursday morning EPS reports from AAL, ALK, DGX, DHR, DOV, DOW, FCX, GPC, HBAN, KEY, MMC, NEE, NUE, PM, PNR, POOL, SNA, T, TSCO, UNP and TSLA, LRCX, UAL, CSX, CCI, EFX, GL, KMI, Wednesday AMC.
Q1 Earnings Reports:
Positive reactions: MTB, IBM, OMC, MKTX, ASML, PG, ANTM, ABT, SBNY, CFG, HAS, FITB, PLD, JNJ, JBHT, SYF, BAC, C, USB, FRC, DAL, FAST,
Neutral reactions: HAL, GS, MS, UNH, BLK,
Negative reactions: NFLX, NDAQ, BKR, CMA, TRV, LMT, TFC, SCHW, BK, STT, WFC, PNC, JPM
 
 
SPY down .22 at 444.71, on 65.2 million shares, below average volume, sideways on lower volume.
VIX down 1.05 at 20.32
QQQ down 5.05 at 341.21.
 
IBM, PG, HD, CSCO led the DJIA, 24 advancers, -3
MTB, HCA, OMC, WAT led the SPX, 378 advancers.
ISRG, ASML, IDXX, KLAC led the NDX, 50 advancers.
 
The two-year trend term is up.  The one-year trend is up.
 
Up: DIA, IWM,
Down:  SPY, QQQ,
 
Eight of eleven sectors were higher on Wednesday, led by XLRE, XLP and XLV. 
 
Real Estate leaders:  PENN, WYNN, ETSY, CZR
Consumer Staples leaders:  WY, PLD,
Health Care leaders:  MTCH, CHTR, DIS, NFLX, FB
 
Advancers weakened on Wednesday as advancers led 2,121 to 1,198 on the NYSE and led 2,401 to 2,358 on the NASDAQ.
 
The SPY MFC green line is pointed up at 56.7 and is bullish.  SPY continues above the HOLD in its 15-day pullback, in a 3-month sideways channel.    
 
 
Uptrend sectors:  XLE, XLU, XLP, XLV, XLB, XLRE,
Neutral sectors:  XLF, XLI,
Down trend sectors: XLK, XLY, 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
 
50 of 100 NDX stocks closed higher on Wednesday.
 
45 NDX stocks are above their 30 DMA:  EXC, DLTR, KHC, COST, AEP, AMGN, PAYX, XEL, ADP, AZN, REGN, CRWD, VRTX, CTAS, DXCM, PANW, VRSK, ABNB, TSLA, FTNT, BIIB, PEP, BKNG, CMCSA, LULU, MNST, ROST, TMUS, GILD, MDLZ, ORLY, HON, MAR, FISV, ADI, INTU, ILMN, ISRG, KDP, TXN, VRSN, CDNS, INTC, PCAR, WBA,
 
NDX Stocks to Watch on Thursday:
Moving Above 30 DMA = 4
CDNS, INTC, PCAR, WBA,
 
Moving Below 30 DMA = 8
AMZN, DOCU, FB, MELI, NTES, SGEN, SPLK, ZS,
 
 
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QQQ, SPY, DIA Lead Broad Rally...Discretionary, Real Estate, Communication Lead Sectors...NFLX -25% in After-hours...

 
© 2022
 
 
QQQ, SPY, DIA, IWM opened flat and closed higher in a broad rally led by 10 sectors and strong earnings reactions on Tuesday.  Earnings continue on Wednesday morning.   
 
NFLX, -89.70, -25.73% after hours, reported earnings, that missed on revenues and subscriber growth was negative. 
 
Oil futures, (/CL -4.62) closed at $102.40. 
 
Talks between UKR / RUS continue to have no clear path towards a ceasefire.  
 
Earnings season:  Wednesday morning EPS reports from ABT, ANTM, BKR, CMA, MKTX, MTB, NDAQ, PG and NFLX, IBM, OMC Tuesday AMC.
Q1 Earnings Reports:
Positive reactions: SBNY, CFG, HAS, FITB, PLD, JNJ, JBHT, SYF, BAC, C, USB, FRC, DAL, FAST,
Neutral reactions: HAL, GS, MS, UNH, BLK,
Negative reactions: TRV, LMT, TFC, SCHW, BK, STT, WFC, PNC, JPM
 
 
SPY up 7.07 at 445.04, on 77.7 million shares, below average volume, up on higher volume.
VIX down .80 at 21.37
QQQ up 7.57 at 346.26.
 
NKE, BA, DIS, JNJ led the DJIA, 27 advancers, +16
SBNY, ABMD, GNRC, CFG led the SPX, 442 advancers.
ISRG, OKTA, DOCU, TEAM led the NDX, 90 advancers.
 
The two-year trend term is up.  The one-year trend is up.
 
Up: QQQ, IWM, SPY, DIA,
Down: 
 
Ten of eleven sectors were higher on Tuesday, led by XLY, XLRE and XLC. 
 
Consumer Discretionary leaders:  PENN, WYNN, ETSY, CZR
Real Estate leaders:  WY, PLD,
Communication Services leaders:  MTCH, CHTR, DIS, NFLX, FB
 
Advancers strengthened on Tuesday as advancers led 2,274 to 1,059 on the NYSE and led 3,369 to 1,320 on the NASDAQ.
 
The SPY MFC green line is turned up at 54 and is bullish.  SPY moved above the HOLD in its 14-day pullback, in a 3-month sideways channel.    
 
 
Uptrend sectors:  XLE, XLU, XLP, XLV, XLB, XLRE,
Neutral sectors:  XLF, XLI,
Down trend sectors: XLK, XLY, 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
 
90 of 100 NDX stocks closed higher on Tuesday.
 
49 NDX stocks are above their 30 DMA:  EXC, DLTR, KHC, COST, AEP, AMGN, PAYX, XEL, ADP, SGEN, AZN, REGN, CRWD, VRTX, CTAS, DXCM, PANW, VRSK, ABNB, TSLA, FTNT, BIIB, NTES, PEP, BKNG, CMCSA, LULU, MNST, ROST, TMUS, GILD, MDLZ, ORLY, HON, MAR, SPLK, FISV, ADI, INTU, AMZN, DOCU, FB, ILMN, ISRG, KDP, MELI, TXN, VRSN, ZS,
 
NDX Stocks to Watch on Wednesday:
Moving Above 30 DMA = 10
AMZN, DOCU, FB, ILMN, ISRG, KDP, MELI, TXN, VRSN, ZS,
 
Moving Below 30 DMA = 0
 
 
 
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QQQ, SPY, DIA, IWM Hold at Short-term Support Mid-Channel...Energy, Financial, Technology Lead Sectors...SYB, BAC Positive EPS Reactions

 
 
© 2022
 
 
QQQ, SPY opened flat and closed slightly higher while DIA, IWM closed lower.  Earnings season continues Tuesday morning. 
 
Oil futures, (/CL +0.48) closed at $107.02. 
 
Talks between UKR / RUS continue to have no clear path towards a ceasefire.  
 
Earnings season:  Tuesday morning EPS reports from JNJ, LMT TFC, TRV, HAL, FITB, CFG, HAS, SBNY, PLD and JBHT Monday AMC.
Q1 Earnings Reports:
Positive reactions: SYF, BAC, C, USB, FRC, DAL, FAST,
Neutral reactions: GS, MS, UNH, BLK,
Negative reactions: SCHW, BK, STT, WFC, PNC, JPM
 
 
SPY up .18 at 437.97, on 65.9 million shares, below average volume, up slightly on lower volume.
VIX down .53 at 22.17
QQQ up .26 at 338.69.
 
GS, INTC, JPM, AXP led the DJIA, 11 advancers, +0
FTI, TWTR, SYF, DINO led the SPX, 195 advancers.
LRCX, MCHP, NVDA, ADI led the NDX, 37 advancers.
 
The two-year trend term is up.  The one-year trend is up.
 
Up: QQQ, SPY,
Down: DIA, IWM,  
 
Five of eleven sectors were higher on Monday, led by XLE, XLF and XLK. 
 
Energy leaders:  FTI, DINO, VLO, PSX
Financial leaders:  SYF, COF, DFS, BAC
Technology leaders:  LRCX, MCHP, HPQ, NVDA
 
Advancers strengthened slightly on Monday as decliners led 2,077 to 1,259 on the NYSE and led 3,266 to 1,559 on the NASDAQ.
 
The SPY MFC green line is pointed down at 51.8 and is defensive.  SPY traded in a range at last week’s short-term support in a 13-day pullback in a 3-month sideways channel.    
 
 
Uptrend sectors:  XLE, XLU, XLP, XLV, XLB, XLRE,
Neutral sectors:  XLF, XLI,
Down trend sectors: XLK, XLY, XLC,
 
The 6-month intermediate trend is sideways.  The ten-day trend is down.
 
3-month Intermediate Term Market Trend: Down
3-day Short Term Market Trend: Sideways
 
37 of 100 NDX stocks closed higher on Monday.
 
39 NDX stocks are above their 30 DMA:  EXC, DLTR, KHC, COST, AEP, AMGN, PAYX, XEL, ADP, SGEN, AZN, REGN, CRWD, VRTX, CTAS, DXCM, PANW, VRSK, ABNB, TSLA, FTNT, BIIB, NTES, PEP, BKNG, CMCSA, LULU, MNST, ROST, TMUS, GILD, MDLZ, ORLY, HON, MAR, SPLK, FISV, ADI, INTU,
 
NDX Stocks to Watch on Tuesday:
Moving Above 30 DMA = 2
ADI, INTU,
 
Moving Below 30 DMA = 5
DOCU, MRNA, SIRI, VRSN, ZS,
 
 
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