Tuesday, December 29, 2020

New all times high in SPY retracing a bit. IWM setting up a second day of bull flag

SPY Market Forecast 66.83 Short-term bullish pointing up in the middle zone               
   0.51   PCALL - 10 day SMA (0.75 - 1.00)               
   142.74   SKEW (120 - 135)                 
                      
INTERMEDIATE TERM: Uptrend- Price above 30 &10 Wk SMA                 
  6-months UP                   
  10-days UP                   
  3-days UP                   
                      
Indices                      
UP:     QQQ +0.09% ;                  
Down:        DIA -0.18% ; SPY -0.19% ; IWM -1.94%          
                      
  TLT -0.13% at 157.16                 
  VIX +6.36% at 23.08                 
                      
Sectors                      
  2 sectors closed higher led by  XLV +0.47%  and  XLY +0.03%    Lower =  9         
  6            closing above 30d. SMA  and 5   closing below.   
                      
XLV leaders     :    AMGN, MRK, ABBV, JNJ                
XLY leaders     :    BKNG, SBUX, AMZN, DG                
XLU leaders     :    D, ES, XEL, SO                 
                      
Uptrend XLV, XLY, XLC, XLB, XLP, XLF, XLK, XLI, XLE                 
Sideways XLU, XLRE                   
Downtrend                     
                      
                      
Breath:                      
NYSE Weakened  as  Decliners led  1087   to   2047 and  Nasdaq   Weakened  as  Decliners led 1078   to   2701      
                      
                      
NDX Leaders:                       
39 closing higher  and  63 closing Lower                
JD : +5.55% ;  INTC : +4.93% ;  NTES : +2.53%            
                      
DJIA Leaders:                       
8 closing higher  and  22 closing Lower                
INTC : +4.93% ;  AMGN : +1.44% ;  MRK : +1.21%            
                      
SP500 Leaders:                       
119 closing higher  and  386 closing Lower                
INTC : +4.93% ;  ABMD : +2.56% ;  ZBH : +2.39%            
                      
NASDAQ 100                     
                      
Nasdaq Above 30MA    =  74                   
JD, INTC, NTES, NFLX, BKNG, EXPE, CHTR, AMGN, SBUX, EBAY, AMZN, ISRG, DLTR, BIDU, CMCSA, ASML, TTWO, ALXN, ADBE, MELI, CERN, MAR, LBTYA, VRTX, PEP, TSLA, MDLZ, MNST, SGEN, TMUS, LBTYK, EA, ATVI, ALGN, FB, IDXX, TXN, ILMN, ULTA, FOX, MSFT, FOXA, ADSK, VRSN, INCY, CDNS, LRCX, CSCO, CPRT, MXIM, MU, AVGO, FAST, ADI, AMAT, INTU, ANSS, KHC, SNPS, ROST, ORLY, ADP, CTSH, VRSK, NTAP, AAPL, DXCM, BMRN, WDAY, SWKS, CHKP, PYPL, CTXS, CSGP
                      
Stocks to watch on  Wednesday                   
Nasdaq100  xsing above30   = 0                   
                      
                      
Nasdaq100  xsing below30  = 10                   
DOCU, MCHP, EXC, GOOGL, GOOG, AMD, PAYX, KLAC, NXPI, WDC                
                      
                      
MACD Crossover:                    
Up   10                   
BKNG, EXPE, CHTR, COST, PEP, TMUS, FB, ULTA, FOX, FOXA                 
                      
Down   7                   
ALXN, BIIB, INCY, INTU, SNPS, BMRN, PYPL                   
 

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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)       ...