Saturday, May 23, 2020

Price action moves sideways throughout the wee ending higher close to resistance.


                    
                    
SPY Market Forecast 93.11 Short-term bullish   Pointing Higher            
   0.75 PCALL - 10 day SMA (0.75 - 1.00)             
   125.78   SKEW (120 - 135)               
                    
INTERMEDIATE TERM: Sideways- Price in between 30 &10 Wk SMA              
  6-months Down                 
  10-days Up                 
  3-days Sideways                 
                    
Indices                    
  IWM +0.48% ; QQQ +0.35% ;  SPY +0.19% ; DIA -0.06%        
  TLT +0.60% at 165.55               
  VIX -4.64% at 28.16               
                    
Sectors                    
  6 sectors closed higher led by  XLRE +2.19%  and  XLU +1.11%    Lower =  5       
  8            closing above 30d. SMA  and 3   closing below.
                    
Uptrend XLC, XLK                 
Sideways XLRE, XLU, XLP, XLV, XLY, XLB, XLE                
Downtrend XLI, XLF                 
                    
                    
Breath:                    
 Strengthened  as  Advancers led  1650   to   1277 and  Nasdaq   Strengthened  as  Advancers led 1904   to   1384    
                    
                    
NDX Leaders:                     
67 closing higher  and  36 closing Lower              
LULU : +3.44% ;  ALGN : +3.30% ;  MELI : +3.26%          
                    
DJIA Leaders:                     
15 closing higher  and  15 closing Lower              
UNH : +1.06% ;  TRV : +0.94% ;  PG : +0.88%          
                    
SP500 Leaders:                     
274 closing higher  and  229 closing Lower              
ARNC : +13.83% ;  COTY : +12.61% ;  AMT : +6.25%          
                    
NASDAQ 100                   
                    
Nasdaq Above 30MA    =  80                 
LULU, ALGN, MELI, ISRG, NVDA, BMRN, WDAY, SWKS, EBAY, BKNG, JBHT, EA, PYPL, TTWO, REGN, SNPS, FB, ILMN, TMUS, VRSN, EXPE, EXC, CSX, AMD, QCOM, MXIM, ATVI, ADBE, KHC, IDXX, INCY, AVGO, FOXA, AAPL, DLTR, CSCO, GOOG, ADSK, FOX, MNST, GOOGL, INTC, CHKP, FISV, PCAR, KLAC, VRSK, PAYX, MCHP, ORLY, LRCX, ASML, VRTX, ADI, MSFT, TXN, CDNS, FAST, LBTYK, LBTYA, MAR, AMZN, CMCSA, SBUX, NXPI, WDC, XLNX, CHTR, CTAS, HSIC, INTU, WLTW, ULTA, AMAT, TSLA, NTAP, ROST, JD, BIDU, NTES
                    
Stocks to watch on  Sunday                 
Nasdaq100  xsing above30   = 1                 
EXC                    
                    
Nasdaq100  xsing below30  = 3                 
NFLX, TCOM, WYNN                  
                    
                    
MACD Crossover:                  
Up   2                 
WDAY, ULTA                   
                    
Down   5                 
FISV, AMZN, WLTW, TCOM, WYNN                 
                    

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SPY touched all times high once again and reversed at close

SPY Market Forecast     94.34 Defensive pointing down in the upper zone                        0.6   PCALL - 10 day SMA (0.75 - 1.00)       ...