Thursday, May 27, 2021

IWM continues higher folled by DIA and SPY. Industrials, Financials and Materials led the sectors

 
SPY Market Forecast 75.16 Short-term bullish pointing up in the middle zone             
   0.59   PCALL - 10 day SMA (0.75 - 1.00)             
   149.35   SKEW (120 - 135)               
                    
INTERMEDIATE TERM: Uptrend- Price above 30 &10 Wk SMA               
  6-months UP                 
  10-days SIDEWAYS                 
  3-days SIDEWAYS                 
                    
Indices                    
UP:     IWM +1.03% ; DIA +0.39% ; SPY +0.05% ;          
Down:              QQQ -0.37%        
                    
  TLT -0.41% at 138.66               
  VIX -3.57% at 16.74               
                    
SPY   : Channel Bounce pause    above 30ds SMA             
QQQ   : Channel Bounce pause    above 30ds SMA             
DIA   : Channel Bounce breakout pause   above 30ds SMA             
IWM   : Channel Bounce breakout setup   above 30ds SMA             
                    
                    
Sectors                    
  6 sectors closed higher led by  XLI +1.37%  and  XLF +1.15%    Lower =  5       
  8            closing above 30d. SMA  and 3   closing below.
                    
XLI leaders     :    GE, TDG, HWM, BA               
XLF leaders     :    IVZ, UNM, SCHW, BEN              
XLB leaders     :    ALB, FCX, LYB, DD               
                    
Uptrend XLI, XLF, XLB, XLY, XLC, XLE, XLRE, XLV, XLK, XLP               
Sideways XLU                  
Downtrend                   
                    
                    
Breath:                    
NYSE Strengthened  as  Advancers led  2105   to   1208 and  Nasdaq   Strengthened  as  Advancers led 2809   to   1460    
                    
                    
NDX Leaders:                     
47 closing higher  and  56 closing Lower              
ILMN : +2.84% ;  SIRI : +2.64% ;  MU : +2.05%          
                    
DJIA Leaders:                     
16 closing higher  and  14 closing Lower              
BA : +3.87% ;  HON : +3.12% ;  WBA : +1.98%          
                    
SP500 Leaders:                     
332 closing higher  and  170 closing Lower              
GE : +7.09% ;  F : +7.05% ;  FTI : +5.73%          
                    
NASDAQ 100                   
                    
Nasdaq Above 30MA    =  55                 
ILMN, SIRI, MU, NXPI, FOX, AVGO, FB, WDC, ADP, LRCX, TMUS, FOXA, MAR, CMCSA, AMAT, ALXN, ALGN, COST, CPRT, TTWO, TXN, PAYX, ULTA, SGEN, MCHP, SNPS, ZM, MXIM, NTES, CSCO, CTAS, TCOM, ATVI, ASML, CHTR, KLAC, FAST, ADI, EXPE, LULU, MDLZ, NTAP, IDXX, PYPL, EA, GOOGL, CERN, PEP, GOOG, NVDA, VRSN, KHC, ADBE, ADSK, INTU
                    
Stocks to watch on  Friday                 
                    
 Nasdaq100  xsing above30   = 4                
  SIRI, MU, FOX, FOXA                 
                    
 Nasdaq100  xsing below30  = 4                
  LBTYK, LBTYA, EXC, EBAY                 
                    
                    
MACD Crossover:                  
Up   5                 
FOX, TMUS, FOXA, CMCSA, CDW                 
                    
Down   5                 
CSCO, MDLZ, PEP, EXC, CHKP                 
                    
 

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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)       ...