Friday, December 18, 2020

Crazy move to the downside with an amazing recovery at close. Not expected!!

SPY Market Forecast 93.43 Short-term bullish pointing up in the upper zone               
   0.5   PCALL - 10 day SMA (0.75 - 1.00)               
   147.07   SKEW (120 - 135)                 
                      
INTERMEDIATE TERM: Uptrend- Price above 30 &10 Wk SMA                 
  6-months UP                   
  10-days UP                   
  3-days UP                   
                      
Indices                      
UP:                         
Down:     QQQ -0.30% ; DIA -0.33% ; SPY -0.40% ; IWM -0.48%          
  
                    
  TLT -0.30% at 156.33                 
  VIX -1.64% at 21.57                 
                      
Sectors                      
  5 sectors closed higher led by  XLB +0.45%  and  XLP +0.22%    Lower =  6         
  9            closing above 30d. SMA  and 2   closing below.   
                      
XLB leaders     :    DOW, DD, PPG, LIN                
XLP leaders     :    MO, KO, PEP, MDLZ                
XLC leaders     :    ATVI, EA, TMUS, FB                
                      
Uptrend XLB, XLP, XLC, XLV, XLI, XLK, XLY, XLU, XLF, XLE                 
Sideways XLRE                    
Downtrend                     
                      
                      
Breath:                      
NYSE Weakened  as  Decliners led  1334   to   1811 and  Nasdaq   Weakened  as  Decliners led 1646   to   2089      
                      
                      
NDX Leaders:                       
53 closing higher  and  50 closing Lower                
TSLA : +5.96% ;  NTES : +4.29% ;  CDNS : +3.71%            
                      
DJIA Leaders:                       
12 closing higher  and  18 closing Lower                
DOW : +3.40% ;  CSCO : +1.38% ;  CAT : +1.00%            
                      
SP500 Leaders:                       
213 closing higher  and  291 closing Lower                
FTNT : +6.91% ;  VMC : +4.07% ;  ABMD : +4.04%            
                      
NASDAQ 100                     
                      
Nasdaq Above 30MA    =  82                   
NTES, CDNS, ANSS, TTWO, MELI, ADSK, CHKP, ATVI, AVGO, EA, SNPS, SWKS, SGEN, IDXX, VRSK, ADBE, TMUS, CTXS, CSCO, BIDU, PAYX, ILMN, CSGP, ISRG, NTAP, ADP, KLAC, EXPE, TXN, PEP, ROST, MXIM, MDLZ, WDAY, ALGN, CPRT, ADI, KHC, PYPL, TSLA, NFLX, DXCM, FISV, INCY, SBUX, EBAY, MNST, ASML, VRSN, INTU, VRTX, ORLY, EXC, BIIB, CHTR, MSFT, FAST, WBA, WDC, CDW, BKNG, CERN, ALXN, TCOM, CTSH, CMCSA, AMD, DLTR, AMZN, LRCX, MU, MAR, MCHP, LBTYK, BMRN, AAPL, AMAT, NXPI, XLNX, LBTYA, LULU, DOCU
                      
Stocks to watch on  Monday                   
Nasdaq100  xsing above30   = 1                   
BIIB                      
                      
Nasdaq100  xsing below30  = 7                   
SIRI, AMGN, FOX, FOXA, QCOM, ULTA, INTC                   
                      
                      
MACD Crossover:                    
Up   5                   
CHKP, SWKS, ADP, ASML, LULU                   
                      
Down   3                   
instrument=FAST, instrument=XLNX, instrument=LBTYA                  
                      

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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)       ...