SPY holding above 10 Wk SMA and moving to the upside giving shorts a hard time.

Against the prediction of many the markets continue the recovery supported by the government. One of the reasons this market is hard to trade is the dissonance between prices moving higher and news.

It is important to maintain more focus in the charts and less in the media to take advantage of the market opportunities.

At this point, the market has the potential to get closer to the previous highs.

Weekly Charts

Daily Charts

  

SPY Market Forecast 85 Short-term bullish   Pointing a higher          

                  

INTERMEDIATE TERM: Sideways- Price in between 30 & 10 Wk SMA

  6-months Down               

  10-days Up               

  3-days Up               

                  

Indices                  

  IWM +1.72% ; QQQ +1.58% ;  SPY +1.39% ; DIA +1.17%      

  TLT                

  VIX                

                  

Sectors                  

  11 sectors closed higher led by  XLK +2.12%  and  XLY +1.69%    Lower =  0     

  11            closing above 30d. SMA  and 0   closing below.

                  

Uptrend XLK, XLY, XLV, XLC, XLP               

Sideways XLB, XLI, XLU, XLRE, XLE               

Downtrend XLF                

                  

                  

Breath:                  

 Strengthened  as  Advancers led  1834   to   1107 and  Nasdaq   Strengthened  as  Advancers led 2135   to   1072  

                  

                  

NDX Leaders:                   

94 closing higher  and  9 closing Lower            

NXPI : +7.21% ;  EXPE : +5.05% ;  NTAP : +4.92%        

                  

DJIA Leaders:                   

27 closing higher  and  3 closing Lower            

HD : +4.87% ;  AAPL : +2.89% ;  IBM : +2.78%        

                  

SP500 Leaders:                   

415 closing higher  and  87 closing Lower            

FCX : +8.58% ;  IVZ : +7.73% ;  SIVB : +7.60%        

                  

NASDAQ 100                 

                  

Nasdaq Above 30MA    =  98               

NXPI, EXPE, NTAP, BMRN, PYPL, MCHP, ADI, SWKS, CSX, ALXN, EBAY, NLOK, ROST, KLAC, WDC, FAST, CTXS, PEP, TXN, QCOM, MYL, XLNX, CMCSA, HAS, AAPL, TSLA, ORLY, ADSK, TTWO, FB, ADBE, SIRI, KHC, ADP, GILD, PCAR, MXIM, AVGO, CERN, CTSH, INTU, CSCO, NVDA, CHTR, MSFT, ALGN, NTES, FISV, PAYX, COST, AMAT, AMGN, EA, INCY, HSIC, LULU, IDXX, ATVI, LBTYA, BIDU, LRCX, WDAY, MU, CDNS, ASML, LBTYK, EXC, WYNN, VRTX, JBHT, SNPS, SBUX, VRSK, CHKP, TMUS, AMD, AMZN, GOOGL, CTAS, INTC, TCOM, ISRG, XEL, FOX, MNST, JD, GOOG, BKNG, MDLZ, WLTW, REGN, ULTA, FOXA, NFLX, VRSN, MAR, ILMN, MELI

                  

Stocks to watch on  Sunday               

Nasdaq100  xsing above30   = 1               

WDC                  

                  

Nasdaq100  xsing below30  = 0               

                  

                  

                  

MACD Crossover:                

Up   7               

NTAP, CSX, QCOM, MYL, ADP, MXIM, FISV               

                  

Down   7               

VRTX, VRSK, XEL, FOX, JD, NFLX, ILMN