Wednesday, May 26, 2021

All indices finished up within a channel. SPY Market Forecast is bullish. Sectors led by XLY and XLE

 
                   
SPY Market Forecast 70.9 Short-term bullish pointing up in the middle zone            
   0.62   PCALL - 10 day SMA (0.75 - 1.00)            
   144.6   SKEW (120 - 135)              
                   
INTERMEDIATE TERM: Uptrend- Price above 30 &10 Wk SMA              
  6-months UP                
  10-days SIDEWAYS                
  3-days SIDEWAYS                
                   
Indices                   
UP:     IWM +1.87% ; QQQ +0.35% ; SPY +0.20% ; DIA +0.03%       
Down:                      
                   
  TLT -0.17% at 139.22              
  VIX -7.86% at 17.36              
                   
IWM   : Channel Bounce continuation               
QQQ   : Channel Bounce breakout setup               
SPY   : Channel Bounce breakout pause               
DIA   : Channel Bounce breakout setup               
                   
                   
Sectors                   
  8 sectors closed higher led by  XLY +0.95%  and  XLE +0.89%    Lower =  3      
  9            closing above 30d. SMA  and 2   closing below.
                   
XLY leaders     :    NKE, TJX, TGT, DG              
XLE leaders     :    VLO, MPC, EOG, XOM             
XLC leaders     :    TMUS, CMCSA, GOOG, ATVI             
                   
Uptrend XLY, XLE, XLC, XLI, XLF, XLRE, XLB, XLU, XLK, XLP, XLV             
Sideways                  
Downtrend                  
                   
                   
Breath:                   
NYSE Strengthened  as  Advancers led  2258   to   1082 and  Nasdaq   Strengthened  as  Advancers led 3200   to   1082   
                   
                   
NDX Leaders:                    
64 closing higher  and  36 closing Lower             
TSLA : +2.39% ;  SPLK : +2.35% ;  WDC : +2.34%         
                   
DJIA Leaders:                    
16 closing higher  and  14 closing Lower             
NKE : +1.91% ;  CRM : +0.87% ;  GS : +0.79%         
                   
SP500 Leaders:                    
327 closing higher  and  173 closing Lower             
F : +8.51% ;  GPS : +4.16% ;  DISCK : +3.97%         
                   
NASDAQ 100                  
                   
Nasdaq Above 30MA    =  55                
WDC, TCOM, TMUS, CMCSA, ULTA, LULU, NTES, NTAP, ZM, MAR, CERN, PYPL, ADSK, EXPE, GOOG, INTU, ATVI, GOOGL, NXPI, EXC, TTWO, MCHP, EA, FAST, IDXX, ADBE, NVDA, ALGN, EBAY, AVGO, ILMN, LBTYK, SGEN, ADI, KHC, CPRT, COST, LBTYA, PEP, FB, MDLZ, KLAC, MXIM, TXN, CHTR, LRCX, CTAS, VRSN, ADP, AMAT, PAYX, ALXN, SNPS, CSCO, ASML
                   
Stocks to watch on  Thursday                
                   
 Nasdaq100  xsing above30   = 4               
  ULTA, LULU, MAR, EXC                
                   
 Nasdaq100  xsing below30  = 4               
  XEL, ISRG, BIIB, WBA                
                   

No comments:

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)       ...