Monday, March 08, 2021

QQQ down 3.83% and SPY in a range day closing lower as facing resistance. 8 of 11 sectors closed higher and Oil closed lower. SPY MFC Defensive

SPY Market Forecast 53.01 Short-term bearish pointing down in the middle zone          
   0.6   PCALL - 10 day SMA (0.75 - 1.00)            
   135.9   SKEW (120 - 135)              
                   
INTERMEDIATE TERM: Uptrend- Price above 30 &10 Wk SMA              
  6-months UP                
  10-days DOWN                
  3-days SIDEWAYS                
                   
Indices                   
UP:     DIA +0.95% ; IWM +0.47% ;            
Down:           SPY -0.50% ; QQQ -2.83%       
                   
  TLT -0.78% at 137.83              
  VIX +3.28% at 25.47              
                   
Sectors                   
  8 sectors closed higher led by  XLU +1.41%  and  XLB +1.34%    Lower =  3      
  5            closing above 30d. SMA  and 6   closing below.
                   
XLU leaders     :    SRE, D, EXC, WEC              
XLB leaders     :    PPG, LIN, SHW, ECL             
XLF leaders     :    WFC, C, SPGI, GS              
                   
Uptrend XLB, XLF, XLI, XLE, XLC                
Sideways XLU, XLRE, XLP, XLY, XLV, XLK               
Downtrend                  
                   
                   
Breath:                   
NYSE Strengthened  as  Advancers led  1990   to   1278 and  Nasdaq   Weakened  as  Advancers led 2013   to   2081   
                   
                   
NDX Leaders:                    
32 closing higher  and  71 closing Lower             
ROST : +6.40% ;  DLTR : +3.83% ;  ULTA : +3.72%         
                   
DJIA Leaders:                    
25 closing higher  and  5 closing Lower             
DIS : +6.27% ;  CSCO : +2.72% ;  WBA : +2.71%         
                   
SP500 Leaders:                    
342 closing higher  and  163 closing Lower             
VIAC : +12.69% ;  HBI : +8.69% ;  UAL : +7.01%         
                   
NASDAQ 100                  
                   
Nasdaq Above 30MA    =  24                
ROST, DLTR, ULTA, CSCO, BKNG, FOXA, FOX, MAR, KHC, TMUS, ORLY, FISV, ADP, PAYX, WDC, XEL, CSX, EXPE, CMCSA, CDW, CTAS, SBUX, TCOM, INTC    
                   
Stocks to watch on  Tuesday                
                   
 Nasdaq100  xsing above30   = 6               
  ROST, DLTR, XEL, VRTX, GILD, BIIB               
                   
 Nasdaq100  xsing below30  = 8               
  MDLZ, CHTR, CTXS, GOOG, GOOGL, MU, NXPI, AMAT             
                   
                   
MACD Crossover:                 
Up   8                
CSCO, EXC, VRSK, PAYX, CTAS, SIRI, AMGN, SGEN               
                   
Down   0                
                   
                   
                   
 

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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)       ...