Tuesday, May 04, 2021

Sell off on the indices led by QQQ and IWM.

 SPY Market Forecast 92.72 Short-term bearish pointing down in the upper zone             
   0.58   PCALL - 10 day SMA (0.75 - 1.00)               
   146.32   SKEW (120 - 135)                 
                      
INTERMEDIATE TERM: Uptrend- Price above 30 &10 Wk SMA                 
  6-months UP                   
  10-days SIDEWAYS                   
  3-days DOWN                   
                      
Indices                      
UP:     DIA +0.11% ;                  
Down:        SPY -0.62% ; IWM -1.19% ; QQQ -1.80%          
                      
  TLT +0.68% at 139.46                 
  VIX +6.39% at 19.48                 
                      
Sectors                      
  5 sectors closed higher led by  XLB +1.09%  and  XLF +0.80%    Lower =  6         
  10            closing above 30d. SMA  and 1   closing below.   
                      
XLB leaders     :    PPG, DOW, SHW, DD                
XLF leaders     :    JPM, BLK, BAC, C                 
XLI leaders     :    CAT, HON, UPS, UNP                
                      
Uptrend XLB, XLF, XLI, XLV, XLE, XLU, XLP, XLRE, XLC, XLY, XLK                
Sideways                     
Downtrend                     
                      
                      
Breath:                      
NYSE Weakened  as  Decliners led  1441   to   1908 and  Nasdaq   Weakened  as  Decliners led 1182   to   3073      
                      
                      
NDX Leaders:                       
18 closing higher  and  85 closing Lower                
PAYX : +1.74% ;  NTAP : +1.44% ;  ADP : +1.31%            
                      
DJIA Leaders:                       
14 closing higher  and  16 closing Lower                
DOW : +2.59% ;  CAT : +2.30% ;  JNJ : +1.55%            
                      
SP500 Leaders:                       
247 closing higher  and  256 closing Lower                
IT : +14.22% ;  SEE : +9.51% ;  HSIC : +7.92%            
                      
NASDAQ 100                     
                      
Nasdaq Above 30MA    =  44                   
PAYX, NTAP, ADP, CHKP, ORLY, KHC, FAST, XEL, CSX, CMCSA, CTAS, VRSK, ROST, GILD, EXC, WBA, BMRN, TCOM, CHTR, CERN, REGN, CPRT, LBTYA, VRSN, LBTYK, ALXN, COST, ULTA, MDLZ, CTSH, NTES, PEP, FB, SBUX, GOOGL, BIIB, CDW, GOOG, MNST, ISRG, AMZN, ALGN, LULU, IDXX
                      
Stocks to watch on  Wednesday                   
                      
 Nasdaq100  xsing above30   = 0                  
                      
                      
 Nasdaq100  xsing below30  = 21                  
  EXPE, MAR, DLTR, VRTX, MSFT, TMUS, BKNG, QCOM, ADBE, ADSK, MELI, EA, ANSS, AMAT, NVDA, INTU, PYPL, AAPL, ASML, WDC, INCY       
                      
                      
MACD Crossover:                    
Up   0                   
                      
                      
Down   8                   
ALXN, NTES, GOOG, BKNG, QCOM, BIDU, WDC, INCY                  
                      


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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)       ...