SPX: Pause Day or Start of Pullback? SNAP, STX Negative EPS Reaction Drags on Social Media & Semi Stocks...Utilities, Real Estate, Staples Lead Sectors...

 © 2022

 

The SPX -37.32, opened flat, traded in a range for the first two hours and then pulled back testing Wednesday and Thursday’s breakout and reversed Thursday’s 39 point gain.  TLT and GLD closed higher, while DXY, /CL and TNX moved lower.

The FOMC meets Tuesday and Wednesday with their announcement Wednesday at 2 p.m. and press conference at 2:30 p.m. ET.

NEM reports Monday morning with eight SPX companies reporting Monday AMC.  A total of 175 SPX companies will report EPS next week including GOOGL, MSFT on Tuesday, META on Wednesday, AAPL, AMZN on Thursday.

71 SPX companies reported EPS this week:  BAC, GS, PLD, SCHW, SYF, IBM, CFG, HAL, HAS, JNJ, LMT, SBNY, TFC, JBHT, NFLX, OMC, ABT, BIIB, BKR, CMA, ELV, MKTX, MTB, NDAQ, NTRS, CCI CSX, DFS, EFX, KMI, LVS, TSLA UAL, AAL, ALK, DGX, DHI, DHR DOV DOW DPZ FCX FITB HBAN, IPG, IQV KEY, MMC, NUE PM, POOL, SNA, T, TRV, TSCO, UNP, COF, ISRG, PPG, RHI, SIVB, STX, WRB, AXP, HCA, NEE, RF, ROP, SLB, TWTR, VZ

First day reaction last week & this week:

Positive: HCA, SLB, PPG, AXP, NEE, RF, TSLA, NUE, DHR, LVS, CSX, PM, DHI, MMC, HBAN IQV, KMI, SNA, CCI, DOV, FCX, NFLX, NDAQ, OMC, CMA, TFC, HAL, CFG, GS, C, STT, BK, WFC, UNH, USB, PGR, BLK, PNC, CTAS, FRC, = 40

Neutral: ROP, TWTR, KEY, DGX, ALK, TRV, MTB, JBHT, LMT, HAS, SYF, BAC, MS, PEP,

Negative: SNAP, SIVB, STX, RHI, VZ, ISRG, COF, WRB, UAL, POOL, DFS, T, AAL, TSCO, IPG, EFX, DOW, DPZ, FITB, UNP, BKR, ELV, BIIB, NTRS, MKTX, ABT, IBM, SBNY, JNJ, PLD, SCHW, CAG, JPM, FAST, DAL, = 35

Key EPS reactions on Friday:

SNAP -6.39, -39.08%:  drags META -7.59%, GOOGL -5.63%, down in sympathy.

STX -6.78, -8.11%:  drags WDC -6.37%, MRVL -4.67%, NVDA -4.05%, MU -3.69%, semis down in sympathy.

SPY down 3.70 at 395.09, on 72.1 million shares, below average volume, down on higher volume.

VIX down .08 at 23.03

QQQ down 5.39 at 301.99

AXP, PG, IBM, HON led the DJIA, 11 advancers, -10

HCA, SLB, PPG, PM led the SPX, 187 advancers

EXC, AEP, XEL, MDLZ led the NDX 24 advancers

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

Up:

Down:  DIA, SPY, IWM, QQQ,

Three of eleven sectors were higher on Friday, led by XLU, XLRE and XLP.

Utilities leaders:  CMS, DTE, D, ED

Real Estate leaders:  DLR, WELL, AMT, ESS

Consumer Staples leaders:  PM, CL, PG, KMB

Advancers weakened on Friday as decliners led 1,911 to 1,308 on the NYSE and led 3,265 to 1,323 on the NASDAQ.

The SPY MFC green line is pointed up at 56 and is short-term bullish.  SPY opened flat, pulled back for a breakout test and moved back above short-term resistance on July 8 for a re-breakout entry.

Uptrend sectors:    

Neutral sectors:   XLP, XLV, XLE, XLU,

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

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

3-month Intermediate Term Market Trend: Down

3-day Short Term Market Trend: Up

24 of 100 NDX stocks closed higher on Friday.

85 NDX stocks are above their 30 DMA:   SGEN, MNST, VRTX, DLTR, AZN, COST, DXCM, OKTA, ORLY, KDP, KHC, PEP, VRSK, AMGN, SIRI, VRSN, AAPL, CDNS, CPRT, IDXX, CTAS, LCID, QCOM, TSLA, ADI, CHTR, ROST, SWKS, TXN, ALGN, AMZN, ATVI, CMCSA, CRWD, FISV, ISRG, MCHP, MU, NFLX, NXPI, ODFL, OKTA, PANW, SNPS, INTC, KLAC, SPLK, ABNB, ADBE, ADP, ADSK, AMAT, AMD, ANSS, ASML, AVGO, CSCO, CSX, EBAY, FTNT, INTU, LRCX, LULU, MAR, MDLZ, MELI, META, MRVL, MSFT, NVDA, PAYX, PCAR, PYPL, ZS, CTSH, DOCU, EA, ILMN, MTCH, NTES, TEAM, WDAY, HON, AEP, EXC, XEL,

NDX Stocks to Watch on Monday:

Moving Above 30 DMA = 3

AEP, EXC, XEL,

Moving Below 30 DMA = 6

BIIB, DDOG, GOOGL, JD, REGN, ZM,

 

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TSLA Leads SPX, NDX Higher...Discretionary, Health Care, Materials Lead Sectors...SNAP, STX, ISRG Lower in After-hours...

© 2022

The SPX +39.05, opened flat, traded in a range for the first two hours and then broke out and closed higher.  TLT and GLD closed higher, while DXY, /CL and TNX moved lower. 

Earnings season continued this morning with positive reactions from TSLA, NUE, DHR, LVS, CSX, PM, DHI, MMC, HBAN, IQV, KMI, SNA, CCI, DOV, FCX, neutral reactions from KEY, DGX, ALK, TRV and negative reactions from UAL, POOL, DFS, T, AAL, TSCO and more.  Eight SPX companies report Friday morning.

71 SPX companies report EPS this week:  BAC, GS, PLD, SCHW, SYF, IBM, CFG, HAL, HAS, JNJ, LMT, SBNY, TFC, JBHT, NFLX, OMC, ABT, BIIB, BKR, CMA, ELV, MKTX, MTB, NDAQ, NTRS, CCI CSX, DFS, EFX, KMI, LVS, TSLA UAL, AAL, ALK, DGX, DHI, DHR DOV DOW DPZ FCX FITB HBAN, IPG, IQV KEY, MMC, NUE PM, POOL, SNA, T, TRV, TSCO, UNP, COF, ISRG, PPG, RHI, SIVB, STX, WRB, AXP, HCA, NEE, RF, ROP, SLB, TWTR, VZ

First day reaction:

Positive: TSLA, NUE, DHR, LVS, CSX, PM, DHI, MMC, HBAN IQV, KMI, SNA, CCI, DOV, FCX, NFLX, NDAQ, OMC, CMA, TFC, HAL, CFG, GS, C, STT, BK, WFC, UNH, USB, PGR, BLK, PNC, CTAS, FRC, = 34

Neutral: KEY, DGX, ALK, TRV, MTB, JBHT, LMT, HAS, SYF, BAC, MS, PEP,

Negative:  UAL, POOL, DFS, T, AAL, TSCO, IPG, EFX, DOW, DPZ, FITB, UNP, BKR, ELV, BIIB, NTRS, MKTX, ABT, IBM, SBNY, JNJ, PLD, SCHW, CAG, JPM, FAST, DAL, = 27

EPS reaction Thursday after-hours:

SNAP -4.38, -26.79%, META -4.68%, GOOGL -2.83%, down in sympathy

STX -9.51, -11.37%, MU -2.58%, WDC -5.61%, down in sympathy

ISRG -28.65, -12.75%,

SIVB, COF also down after EPS.

SPY up 4.02 at 398.79, on 64.9 million shares, below average volume, up on lower volume.

VIX down .77 at 23.11

QQQ up 4.35 at 307.38

BA, CRM, GS, AAPL led the DJIA, 21 advancers, +3

NUE, DHR, BIO, BBWI led the SPX, 358 advancers

TSLA, NTES, ASML, PDD led the NDX 84 advancers

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

Up: QQQ, SPY, DIA, IWM,

Down:  

Nine of eleven sectors were higher on Thursday, led by XLY, XLV and XLB.

Consumer Discretionary leaders:  TSLA, BBWI, LVS, ETSY

Health Care leaders:  DHR, BIO, TMO, MTD

Materials leaders:  NUE, SEE, SHW, ALB

Advancers weakened slightly on Thursday as advancers led 1,983to 1,216 on the NYSE and led 2,784 to 1,750 on the NASDAQ.

The SPY MFC green line turned up at 52 and is short-term bullish.  SPY opened flat, closed higher and stayed above short-term resistance on July 8 for the second day.

 

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

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

3-month Intermediate Term Market Trend: Down

3-day Short Term Market Trend: Up

84 of 100 NDX stocks closed higher on Thursday.

88 NDX stocks are above their 30 DMA:   SGEN, MNST, VRTX, DLTR, AZN, COST, DXCM, OKTA, ORLY, KDP, KHC, PEP, VRSK, AMGN, SIRI, VRSN, AAPL, CDNS, CPRT, IDXX, CTAS, LCID, QCOM, TSLA, ADI, CHTR, ROST, SWKS, TXN, ALGN, AMZN, ATVI, CMCSA, CRWD, FISV, ISRG, MCHP, MU, NFLX, NXPI, ODFL, OKTA, PANW, SNPS, INTC, KLAC, SPLK, ABNB, ADBE, ADP, ADSK, AMAT, AMD, ANSS, ASML, AVGO, CSCO, CSX, EBAY, FTNT, GOOGL, INTU, LRCX, LULU, MAR, MDLZ, MELI, META, MRVL, MSFT, NVDA, PAYX, PCAR, PYPL, REGN, ZS, CTSH, DDOG, DOCU, EA, ILMN, MTCH, NTES, TEAM, WDAY, BIIB, HON, JD, ZM,

 

NDX Stocks to Watch on Friday:
Moving Above 30 DMA = 4

BIIB, HON, JD, ZM,

Moving Below 30 DMA = 2

GILD, TMUS,

 

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Earnings Rally Continues, SPX Breakout...Communication Services, Discretionary, Technology Leads Sectors...TSLA Up, UAL Down in After-hours...

 © 2022

The SPX +23.21, opened flat, traded in a range to the upside and closed higher.  DXY, TLT and TNX closed higher, while /CL and GLD moved lower.

Earnings season continued this morning with positive reactions from NFLX, NDAQ, OMC, CMA neutral reactions from MTB, JBHT and negative reactions from ABT, MKTX, NTRS, BIIB, ELV, BKR.  Twenty-three SPX companies report Thursday morning.

71 SPX companies report EPS this week:  BAC, GS, PLD, SCHW, SYF, IBM, CFG, HAL, HAS, JNJ, LMT, SBNY, TFC, JBHT, NFLX, OMC, ABT, BIIB, BKR, CMA, ELV, MKTX, MTB, NDAQ, NTRS, CCI CSX, DFS, EFX, KMI, LVS, TSLA UAL, AAL, ALK, DGX, DHI, DHR DOV DOW DPZ FCX FITB HBAN, IPG, IQV KEY, MMC, NUE PM, POOL, SNA, T, TRV, TSCO, UNP, COF, ISRG, PPG, RHI, SIVB, STX, WRB, AXP, HCA, NEE, RF, ROP, SLB, TWTR, VZ

First day reaction:

Positive: NFLX, NDAQ, OMC, CMA, TFC, HAL, CFG, GS, C, STT, BK, WFC, UNH, USB, PGR, BLK, PNC, CTAS, FRC, = 19

Neutral: MTB, JBHT, LMT, HAS, SYF, BAC, MS, PEP,

Negative:  BKR, ELV, BIIB, NTRS, MKTX, ABT, IBM, SBNY, JNJ, PLD, SCHW, CAG, JPM, FAST, DAL, = 15

TSLA +5.91, +0.80%, positive EPS reaction Wednesday after-hours

UAL -2.98, -7.15%, negative EPS reaction Tuesday after-hours

SPY up 2.50 at 394.77, on 71.8 million shares, below average volume, up on lower volume.
VIX down .62 at 23.88
QQQ up 4.73 at 303.90

CRM, DIS, NKE, BA led the DJIA, 18 advancers, -10

GNRC, CDAY, NFLX, RCL led the SPX, 336 advancers

TEAM, DDOG, OKTA, MELI led the NDX, 78 advancers

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

Up: QQQ, IWM, SPY, DIA,

Down:  

Seven of eleven sectors were higher on Wednesday, led by XLC, XLY and XLK.

Communication Services leaders:  NFLX, DISH, GCI, META

Consumer Discretionary leaders:  RCL, CCL, ETSY, CZR

Technology leaders:  CDAY, ADSK, CRM, NOW

Advancers weakened on Wednesday as advancers led 2,197 to 1,056 on the NYSE and led 3,157 to 1,330 on the NASDAQ.

The SPY MFC green line turned up at 44.1 and is short-term bullish.  SPY opened flat, closed higher and stayed above short-term resistance on July 8.

Uptrend sectors:    

Neutral sectors:   XLP, XLV, XLE, XLU,

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

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

3-month Intermediate Term Market Trend: Down

3-day Short Term Market Trend: Up

78 of 100 NDX stocks closed higher on Wednesday.

86 NDX stocks are above their 30 DMA:   SGEN, MNST, VRTX, DLTR, TMUS, AZN, COST, DXCM, OKTA, ORLY, KDP, KHC, PEP, VRSK, AMGN, SIRI, VRSN, AAPL, CDNS, CPRT, IDXX, CTAS, LCID, QCOM, TSLA, ADI, CHTR, ROST, SWKS, TXN, ALGN, AMZN, ATVI, CMCSA, CRWD, FISV, ISRG, MCHP, MU, NFLX, NXPI, ODFL, OKTA, PANW, SNPS, INTC, KLAC, SPLK, ABNB, ADBE, ADP, ADSK, AMAT, AMD, ANSS, ASML, AVGO, CSCO, CSX, EBAY, FTNT, GILD, GOOGL, INTU, LRCX, LULU, MAR, MDLZ, MELI, META, MRVL, MSFT, NVDA, PAYX, PCAR, PYPL, REGN, ZS, CTSH, DDOG, DOCU, EA, ILMN, MTCH, NTES, TEAM, WDAY,

NDX Stocks to Watch on Thursday:

Moving Above 30 DMA = 9

CTSH, DDOG, DOCU, EA, ILMN, MTCH, NTES, TEAM, WDAY,  

Moving Below 30 DMA = 2

BIIB, JD,

 

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IWM, QQQ, SPY Lead Broad Rally on Tuesday...Industrials, Communication Services, Energy Lead Eleven Sectors Higher...NFLX Positive EPS Reaction in After-hours...

© 2022

The SPX +105.84, gapped up on the open, and trended higher all day.  /CL, GLD and TNX closed higher, while DXY and TLT moved lower.

Earnings season continued this morning with positive reactions from TFC, HAL, CFG, neutral reactions from LMT, HAS and negative reactions from IBM, SBNY, JNJ.  Seventeen SPX companies report Wednesday.

71 SPX companies report EPS this week:  BAC, GS, PLD, SCHW, SYF, IBM, CFG, HAL, HAS, JNJ, LMT, SBNY, TFC, JBHT, NFLX, OMC, ABT, BIIB, BKR, CMA, ELV, MKTX, MTB, NDAQ, NTRS, CCI CSX, DFS, EFX, KMI, LVS, TSLA UAL, AAL, ALK, DGX, DHI, DHR DOV DOW DPZ FCX FITB HBAN, IPG, IQV KEY, MMC, NUE PM, POOL, SNA, T, TRV, TSCO, UNP, COF, ISRG, PPG, RHI, SIVB, STX, WRB, AXP, HCA, NEE, RF, ROP, SLB, TWTR, VZ

First day reaction:

Positive: TFC, HAL, CFG, GS, C, STT, BK, WFC, UNH, USB, PGR, BLK, PNC, CTAS, FRC,

Neutral: LMT, HAS, SYF, BAC, MS, PEP,

Negative:  IBM, SBNY, JNJ, PLD, SCHW, CAG, JPM, FAST, DAL,

NFLX +14.92, +7.40%, positive EPS reaction Tuesday after-hours

OMC +5.09, +7.55%, positive EPS reaction Tuesday after-hours

SPY up 10.32 at 392.27, on 78.3 million shares, below average volume, up on higher volume.

VIX down .80 at 24.50

QQQ up 8.90 at 298.30

BA, GS, NKE, CAT led the DJIA, 28 advancers, +26

CZR, PVH, CCL, ON led the SPX, 492 advancers

MTCH, MRVL LRCX, NFLX led the NDX, 98 advancers

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

Up: IWM, QQQ, SPY, DIA,

Down:  

All eleven sectors were higher on Tuesday, led by XLI, XLC and XLE.

Industrials leaders:  TDG, ROK, BA, UAL

Communication Services leaders:  MTCH, GCI, LYV, NFLX

Energy leaders:  SWN, FTI, DVN, APA

Advancers strengthened on Tuesday as advancers led 2,708 to 525 on the NYSE and led 3,512 to 1,079 on the NASDAQ.

The SPY MFC green line turned up at 38.2 and is short-term bullish.  SPY opened higher, closed higher and closed above short-term resistance on July 8.

Uptrend sectors:    

Neutral sectors:   XLP, XLV, XLE, XLU,

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

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

3-month Intermediate Term Market Trend: Down

3-day Short Term Market Trend: Up

98 of 100 NDX stocks closed higher on Tuesday.

79 NDX stocks are above their 30 DMA:   SGEN, MNST, BIIB, VRTX, DLTR, TMUS, AZN, COST, DXCM, OKTA, ORLY, KDP, KHC, PEP, VRSK, AMGN, SIRI, VRSN, AAPL, CDNS, CPRT, IDXX, CTAS, LCID, QCOM, TSLA, ADI, CHTR, ROST, SWKS, TXN, ALGN, AMZN, ATVI, CMCSA, CRWD, FISV, ISRG, MCHP, MU, NFLX, NXPI, ODFL, OKTA, PANW, SNPS, INTC, KLAC, SPLK, ABNB, ADBE, ADP, ADSK, AMAT, AMD, ANSS, ASML, AVGO, CSCO, CSX, EBAY, FTNT, GILD, GOOGL, INTU, JD, LRCX, LULU, MAR, MDLZ, MELI, META, MRVL, MSFT, NVDA, PAYX, PCAR, PYPL, REGN, ZS,

NDX Stocks to Watch on Wednesday:

Moving Above 30 DMA = 31

ABNB, ADBE, ADP, ADSK, AMAT, AMD, ANSS, ASML, AVGO, CSCO, CSX, EBAY, FTNT, GILD, GOOGL, INTU, JD, LRCX, LULU, MAR, MDLZ, MELI, META, MRVL, MSFT, NVDA, PAYX, PCAR, PYPL, REGN, ZS,

Moving Below 30 DMA = 0

 

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SPX: Pause Day or Start of Pullback?... GS Positive EPS Reaction Leads DJIA...Energy, Discretionary, Materials Lead Sectors...

 © 2022

The SPX -32.31, gapped up on the open, reversed, filled the gap and closed lower.  /CL, GLD and TNX closed higher, while DXY and TLT moved lower.

Earnings season continued this morning with positive reactions from GS, neutral reaction from SYF, BAC and negative reactions from PLD, SCHW.  Ten SPX companies report Tuesday.

SPX EPS reports Monday & Tuesday this week:  BAC, GS, PLD, SCHW, SYF, IBM, CFG, HAL, HAS, JNJ, LMT, SBNY, TFC, JBHT, NFLX, OMC,

First day reaction:

Positive: GS, C, STT, BK, WFC, UNH, USB, PGR, BLK, PNC, CTAS, FRC,

Neutral: SYF, BAC, MS, PEP,

Negative:  PLD, SCHW, CAG, JPM, FAST, DAL,

GOOGL -2.46%, split 20:1 and closed slightly lower

SPY down 3.18 at 381.95, on 63.2 million shares, below average volume, down on lower volume.

VIX up 1.07 at 25.30

QQQ down 2.47 at 289.40

GS, DOW, CVX, WBA led the DJIA, 2 advancers, -20

GPS, FCX, ENPH, SEDG led the SPX, 172 advancers

ABNB, JD, ODFL, BKNG, NVDA led the NDX, 32 advancers

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

Up:

Down:  IWM, DIA, SPY, QQQ,

Three of eleven sectors were higher on Monday, led by XLE, XLY and XLB.

Energy leaders:  HES, DVN, HAL, MRO

Consumer Discretionary leaders:  GPS, CCL, NCLH, RCL

Basic Materials leaders:  FCX, NUE,

Advancers weakened on Monday as advancers led 1,707 to 1,525 on the NYSE and decliners led 2,414 to 2,209 on the NASDAQ.

The SPY MFC green line is pointed down at 33.9 and is short-term bearish.  SPY opened higher, closed lower and remained above the HOLD (Thursday).

Uptrend sectors:    

Neutral sectors:  XLE, XLU, XLV,

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

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

3-month Intermediate Term Market Trend: Down

3-day Short Term Market Trend: Up a little

32 of 100 NDX stocks closed higher on Monday.

48 NDX stocks are above their 30 DMA:   SGEN, MNST, BIIB, VRTX, DLTR, TMUS, AZN, COST, DXCM, OKTA, ORLY, KDP, KHC, PEP, VRSK, AMGN, SIRI, VRSN, AAPL, CDNS, CPRT, IDXX, CTAS, LCID, QCOM, TSLA, ADI, CHTR, ROST, SWKS, TXN, ALGN, AMZN, ATVI, CMCSA, CRWD, FISV, ISRG, MCHP, MU, NFLX, NXPI, ODFL, OKTA, PANW, SNPS, INTC, KLAC, SPLK,

NDX Stocks to Watch on Tuesday:

Moving Above 30 DMA = 3

INTC, KLAC, SPLK,

Moving Below 30 DMA = 7

ADP, AEP, FTNT, GILD, LULU, REGN, XEL,

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