Friday, October 30, 2020

Continued moving down in a bearish mood.

                  
SPY Market Forecast 36.11 Short-term bearish  pointing down in the middle  zone        
   0.7   PCALL - 10 day SMA (0.75 - 1.00)           
   129.01   SKEW (120 - 135)             
                  
INTERMEDIATE TERM: Sideways- Price in between 30 &10 Wk SMA            
  6-months UP               
  10-days DOWN               
  3-days DOWN               
                  
Indices                  
  DIA -0.57% ; SPY -1.04% ;  IWM -1.32% ; QQQ -2.54%      
  TLT -0.99% at 157.57             
  VIX +1.14% at 38.02             
                  
Sectors                  
  2 sectors closed higher led by  XLE +0.56%  and  XLF +0.29%    Lower =  9     
  1            closing above 30d. SMA  and 10   closing below.
                  
XLE leaders     :    SLB, VLO, MPC, PSX            
XLF leaders     :    WFC, JPM, BAC, C             
XLV leaders     :    ABBV, BMY, PFE, UNH            
                  
Uptrend XLV, XLB, XLI, XLP, XLU, XLC, XLY, XLK              
Sideways XLF, XLRE               
Downtrend XLE                
                  
                  
Breath:                  
NYSE Weakened  as  Decliners led  1186   to   1864 and  Nasdaq   Weakened  as  Decliners led 942   to   2554  
                  
                  
NDX Leaders:                   
22 closing higher  and  81 closing Lower            
CHTR : +4.83% ;  GOOGL : +3.80% ;  FOXA : +3.72%        
                  
DJIA Leaders:                   
13 closing higher  and  17 closing Lower            
IBM : +2.53% ;  WBA : +1.55% ;  CAT : +1.54%        
                  
SP500 Leaders:                   
214 closing higher  and  287 closing Lower            
CTL : N/A ;  NBL : N/A ;  MHK : +10.90%        
                  
NASDAQ 100                 
                  
Nasdaq Above 30MA    =  18               
GOOGL, GOOG, CSX, BIDU, CTSH, ADP, PAYX, EXC, CDNS, NXPI, EXPE, SIRI, JD, ALGN, QCOM, XLNX, IDXX, MELI        
                  
Stocks to watch on  Monday               
Nasdaq100  xsing above30   = 2               
CSX, CTSH                 
                  
Nasdaq100  xsing below30  = 17               
MU, MXIM, CPRT, XEL, TXN, SBUX, DLTR, COST, KLAC, SNPS, ADSK, LRCX, SPLK, AMZN, AAPL, FB, ILMN         
                  
                  
MACD Crossover:                
Up   1               
VRTX                  
                  
Down   3               
XLNX, IDXX, FB                 
                  

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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)       ...