Saturday, October 03, 2020

Market paused as President is Positive for Covid-19. Still in uptrend at resistance.

 
                    
SPY Market Forecast 37.65 Short-term bullish    pointing up in the middle  zone          
   0.68   PCALL - 10 day SMA (0.75 - 1.00)             
   119.12   SKEW (120 - 135)               
                    
INTERMEDIATE TERM: Uptrend- Price above 30 &10 Wk SMA               
  6-months UP                 
  10-days Down                 
  3-days Down                 
                    
Indices                    
  IWM +0.44% ; DIA -0.48% ;  SPY -0.95% ; QQQ -2.81%        
  TLT -0.37% at 162.75               
  VIX +3.48% at 27.63               
                    
Sectors                    
  6 sectors closed higher led by  XLRE +1.62%  and  XLU +1.18%    Lower =  5       
  4            closing above 30d. SMA  and 7   closing below.
                    
XLRE leaders     :    WELL, SPG, PLD, PSA              
XLU leaders     :    SO, AEP, ES, DUK               
XLI leaders     :    RTX, GE, CAT, HON               
                    
Uptrend XLI, XLB                 
Sideways XLRE, XLU, XLF, XLY, XLP, XLV, XLC, XLK                
Downtrend XLE                  
                    
                    
Breath:                    
NYSE Strengthened  as  Advancers led  1902   to   1115 and  Nasdaq   Weakened  as  Advancers led 1657   to   1827    
                    
                    
NDX Leaders:                     
14 closing higher  and  89 closing Lower              
ROST : +1.47% ;  SPLK : +1.16% ;  MAR : +0.95%          
                    
DJIA Leaders:                     
13 closing higher  and  16 closing Lower              
DOW : +2.60% ;  CAT : +2.20% ;  MCD : +1.40%          
                    
SP500 Leaders:                     
320 closing higher  and  180 closing Lower              
LYB : +6.02% ;  URI : +5.51% ;  DVN : +5.49%          
                    
NASDAQ 100                   
                    
Nasdaq Above 30MA    =  42                 
ROST, ADP, FOXA, XEL, CPRT, PAYX, ULTA, CDW, FOX, ZM, SBUX, CTSH, WDAY, TCOM, ALGN, COST, CSGP, BIDU, SIRI, DOCU, PEP, CTAS, SNPS, CHTR, INTC, SGEN, FISV, TXN, NXPI, IDXX, BIIB, CMCSA, LRCX, XLNX, AVGO, QCOM, SWKS, KLAC, ALXN, AMD, NVDA, NFLX
                    
Stocks to watch on  Sunday                 
Nasdaq100  xsing above30   = 0                 
                    
                    
Nasdaq100  xsing below30  = 29                 
CERN, MDLZ, VRSK, ISRG, TMUS, VRSN, PYPL, MU, MSFT, AMZN, CDNS, MCHP, CTXS, JD, ASML, INTU, MELI, TTWO, AMGN, ANSS, INCY, AMAT, ADBE, ADI, MXIM, VRTX, ATVI, DXCM, TSLA
                    
                    
MACD Crossover:                  
Up   2                 
ULTA, SBUX                   
                    
Down   5                 
CHTR, CMCSA, AVGO, ATVI, TSLA                 
                    
                    
SETUPS                   
BF  : SWKS, TCOM, CDW                 
HBO  : SBUX, CPRT, CTAS, CTSH, PLD, PEP, DELL, EXPI, HTHT              
2T  : DOCU                  
MACD  :                   
CHANNEL  : AAPL, ADBE, AMZN, INTC, MSFT, NVDA, PYPL, ALGN, CDNS, CHKP, CHTR, FISV, IDXX, QCOM, SNPS, SPLK, WDAY, ES, CCI, WELL, CSGP, SBAC, WEC, XEL, EXC, BIIB, ROST, FOXA, FOX, MXIM, PCAR, XLNX, TSLA, CERN, ADI, EBAY, TXN, INTU, ADP, COST, TMUS, LRCX, VRSK, AMGN, ATVI, TTWO, CAT, INCY, MCHP, MELI, MU, SIRI, ULTA, VRSN
BEAR  : CTXS, AMAT                 
NH  : DE                  
EPS  : PAYX, ASML                 
                    

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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)       ...