Tuesday, January 05, 2021

Bull flag bounce on SPY, MFC intermediate sentiment is bearish in the middle zone. IWM led the upside.

SPY Market Forecast 71.32 Short-term bearish pointing down in the middle zone           
   0.55   PCALL - 10 day SMA (0.75 - 1.00)             
   145.5   SKEW (120 - 135)               
                    
INTERMEDIATE TERM: Uptrend- Price above 30 &10 Wk SMA               
  6-months UP                 
  10-days UP                 
  3-days SIDEWAYS                 
                    
Indices                    
UP:     IWM +1.55% ; QQQ +0.82% ; SPY +0.69% ; DIA +0.50%        
Down:                       
                    
  TLT -0.74% at 156.37               
  VIX -6.04% at 25.34               
                    
Sectors                    
  8 sectors closed higher led by  XLE +4.48%  and  XLB +2.25%    Lower =  2       
  7            closing above 30d. SMA  and 4   closing below.
                    
XLE leaders     :    EOG, COP, SLB, XOM              
XLB leaders     :    APD, DD, DOW, PPG              
XLI leaders     :    BA, GE, CSX, RTX               
                    
Uptrend XLE, XLB, XLI, XLY, XLV, XLK, XLF, XLC, XLP               
Sideways XLU, XLRE                 
Downtrend                   
                    
                    
Breath:                    
NYSE Strengthened  as  Advancers led  2292   to   871 and  Nasdaq   Strengthened  as  Advancers led 2708   to   1080    
                    
                    
NDX Leaders:                     
77 closing higher  and  26 closing Lower              
JD : +10.62% ;  LBTYK : +5.93% ;  NTES : +4.99%          
                    
DJIA Leaders:                     
22 closing higher  and  8 closing Lower              
BA : +4.40% ;  DOW : +3.26% ;  CVX : +2.70%          
                    
SP500 Leaders:                     
370 closing higher  and  137 closing Lower              
OXY : +10.09% ;  FANG : +9.66% ;  APA : +9.55%          
                    
NASDAQ 100                   
                    
Nasdaq Above 30MA    =  73                 
JD, LBTYK, NTES, LBTYA, EXPE, MU, SWKS, LRCX, ALGN, AMAT, DXCM, LULU, QCOM, NXPI, TCOM, NVDA, FOXA, MCHP, FOX, KLAC, MXIM, ILMN, INTC, ADI, SNPS, ADSK, WDC, TTWO, BIIB, EA, PYPL, XLNX, AAPL, IDXX, BKNG, ASML, EBAY, AMZN, MNST, ATVI, TXN, TSLA, AVGO, ISRG, MELI, CERN, ANSS, AMD, AMGN, NTAP, ALXN, SBUX, CTSH, CDNS, MDLZ, MSFT, ROST, CSGP, GILD, VRTX, NFLX, CPRT, TMUS, VRSK, BMRN, WBA, ORLY, INCY, ULTA, INTU, CHKP, COST, BIDU
                    
Stocks to watch on  Wednesday                 
                    
 Nasdaq100  xsing above30   = 10                
  LULU, QCOM, TCOM, NVDA, FOXA, MCHP, FOX, BIIB, XLNX, CTSH             
                    
 Nasdaq100  xsing below30  = 5                
  CSCO, VRTX, CTXS, KHC, VRSN                
                    
                    
MACD Crossover:                  
Up   4                 
MU, MXIM, ADI, EBAY                  
                    
Down   3                 
CDNS, CSGP, VRSK                  
                    
                    

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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)       ...