Friday, May 21, 2021

Market Forecast back to bearish. Indices still in the channel bouncing from support in a paused day.

SPY Market Forecast 51.84 Short-term bearish pointing down in the middle zone            
   0.66   PCALL - 10 day SMA (0.75 - 1.00)              
   144.51   SKEW (120 - 135)                
                     
INTERMEDIATE TERM: Uptrend- Price above 30 &10 Wk SMA                
  6-months UP                  
  10-days SIDEWAYS                  
  3-days UP                  
                     
Indices                     
UP:     DIA +0.36% ; IWM +0.26% ;              
Down:           SPY -0.08% ; QQQ -0.55%         
                     
  TLT +0.32% at 137.67                
  VIX -2.52% at 20.15                
                     
Sectors                     
  7 sectors closed higher led by  XLF +0.99%  and  XLU +0.52%    Lower =  4        
  9            closing above 30d. SMA  and 2   closing below.  
                     
XLF leaders     :    C, BLK, GS, BAC                
XLU leaders     :    D, SRE, WEC, XEL                
XLI leaders     :    BA, GE, CAT, RTX                
                     
Uptrend XLF, XLU, XLI, XLB, XLE, XLV, XLP, XLRE, XLC, XLY, XLK               
Sideways                    
Downtrend                    
                     
                     
Breath:                     
NYSE Strengthened  as  Advancers led  1964   to   1354 and  Nasdaq   Strengthened  as  Advancers led 2383   to   1870     
                     
                     
NDX Leaders:                      
32 closing higher  and  71 closing Lower               
EBAY : +2.61% ;  NVDA : +2.60% ;  CPRT : +2.36%           
                     
DJIA Leaders:                      
17 closing higher  and  12 closing Lower               
BA : +3.15% ;  GS : +1.80% ;  JPM : +1.14%           
                     
SP500 Leaders:                      
283 closing higher  and  216 closing Lower               
F : +6.73% ;  LW : +3.46% ;  BA : +3.15%           
                     
NASDAQ 100                    
                     
Nasdaq Above 30MA    =  44                  
EBAY, NVDA, CPRT, NTAP, ALGN, XEL, KHC, ADP, ILMN, WBA, MDLZ, MXIM, EXC, PAYX, NXPI, FAST, IDXX, ADI, TMUS, PEP, CHTR, ALXN, AMGN, TTWO, INTU, ORLY, GOOG, GOOGL, LBTYA, LBTYK, VRSN, COST, FB, CSCO, WDC, GILD, BIIB, CERN, ATVI, REGN, SGEN, NTES, ZM, TCOM
                     
Stocks to watch on  Monday                  
                     
 Nasdaq100  xsing above30   = 3                 
  EBAY, NVDA, ALGN                  
                     
 Nasdaq100  xsing below30  = 7                 
  MCHP, INCY, EA, BMRN, VRTX, ASML, LRCX                
                     
                     
MACD Crossover:                   
Up   10                  
CPRT, ADP, PAYX, IDXX, PEP, MNST, MSFT, MELI, DXCM, EA                
                     
Down   3                  
CSCO, ULTA, REGN                   
                     
                     
 

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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)       ...