Wednesday, May 19, 2021

Lower open and filling the gap by closing higher.

SPY Market Forecast 54.04 Short-term bearish pointing down in the middle zone          
   0.67   PCALL - 10 day SMA (0.75 - 1.00)            
   143.75   SKEW (120 - 135)              
                   
INTERMEDIATE TERM: Uptrend- Price above 30 &10 Wk SMA              
  6-months UP                
  10-days SIDEWAYS                
  3-days DOWN                
                   
Indices                   
UP:     QQQ +0.11% ;               
Down:        SPY -0.26% ; DIA -0.49% ; IWM -0.77%       
                   
  TLT -0.24% at 136.11              
  VIX +3.94% at 22.18              
                   
Sectors                   
  2 sectors closed higher led by  XLK +0.35%  and  XLC +0.16%    Lower =  9      
  7            closing above 30d. SMA  and 4   closing below.
                   
XLK leaders     :    CRM, INTC, PYPL, NVDA             
XLC leaders     :    FB, ATVI, EA, GOOGL             
XLV leaders     :    LLY, TMO, MRK, BMY             
                   
Uptrend XLK, XLC, XLV, XLU, XLP, XLRE, XLI, XLF, XLY, XLB, XLE             
Sideways                  
Downtrend                  
                   
                   
Breath:                   
NYSE Weakened  as  Decliners led  1170   to   2139 and  Nasdaq   Weakened  as  Decliners led 1585   to   2697   
                   
                   
NDX Leaders:                    
55 closing higher  and  47 closing Lower             
TTWO : +6.95% ;  ADI : +4.96% ;  MXIM : +4.78%         
                   
DJIA Leaders:                    
5 closing higher  and  25 closing Lower             
CRM : +3.27% ;  INTC : +0.95% ;  PG : +0.21%         
                   
SP500 Leaders:                    
142 closing higher  and  359 closing Lower             
TTWO : +6.95% ;  TGT : +6.09% ;  ADI : +4.96%         
                   
NASDAQ 100                  
                   
Nasdaq Above 30MA    =  30                
TTWO, MXIM, TCOM, NTES, FB, INTU, CERN, ATVI, NTAP, ALXN, SGEN, BIIB, MDLZ, VRSN, PEP, PAYX, EXC, KHC, XEL, TMUS, GILD, WBA, COST, CSCO, CHTR, ORLY, REGN, LBTYA, LBTYK, WDC
                   
Stocks to watch on  Thursday                
                   
 Nasdaq100  xsing above30   = 4               
  TTWO, MXIM, FB, ATVI                
                   
 Nasdaq100  xsing below30  = 5               
  ADP, AMGN, FAST, ULTA, EBAY               
                   
                   
MACD Crossover:                 
Up   5                
ADI, KLAC, MCHP, TXN, NTES                
                   
Down   4                
KHC, AMGN, BMRN, LBTYA                
                   
 

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SPY touched all times high once again and reversed at close

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