Friday, May 28, 2021

Unusual high SKEW. Market might be worried (Caution??). SPY Market Forecast still bullish crossing to the upper zone. Breath strengthened in NYSE and Nasdaq.

 
SPY Market Forecast 80.58 Short-term bullish pointing up in the upper zone             
   0.58   PCALL - 10 day SMA (0.75 - 1.00)             
   155.31   SKEW (120 - 135)               
                    
INTERMEDIATE TERM: Uptrend- Price above 30 &10 Wk SMA               
  6-months UP                 
  10-days SIDEWAYS                 
  3-days SIDEWAYS                 
                    
Indices                    
UP:     QQQ +0.32% DIA +0.30% SPY +0.18% ;          
Down:              IWM -0.07%        
                    
  TLT -0.16% at 138.44               
  VIX +0.12% at 16.76               
                    
SPY   : Channel HBO Setup    above 30ds SMA             
QQQ   : Channel at resistance    above 30ds SMA             
DIA   : Channel HBO Setup    above 30ds SMA             
IWM   : Channel at resistance    above 30ds SMA             
                    
                    
Sectors                    
  sectors closed higher led by  XLRE +0.67%  and  XLU +0.54%    Lower =  3       
  9            closing above 30d. SMA  and   closing below.
                    
XLRE leaders     :    EXR, KIM, MAA, AVB              
XLU leaders     :    0                
XLV leaders     :    0                
                    
Uptrend XLRE, XLV, XLK, XLP, XLE, XLF, XLI, XLB, XLY, XLC               
Sideways XLU                  
Downtrend                   
                    
                    
Breath:                    
NYSE Strengthened  as  Advancers led  1989   to   1344 and  Nasdaq   Strengthened  as  Advancers led 2263   to   2011    
                    
                    
NDX Leaders:                     
67 closing higher  and  33 closing Lower              
ULTA : +5.18% ;  NVDA : +4.88% ;  XLNX : +3.24%          
                    
DJIA Leaders:                     
14 closing higher  and  16 closing Lower              
CRM : +5.43% ;  AMGN : +1.12% ;  CVX : +0.76%          
                    
SP500 Leaders:                     
283 closing higher  and  214 closing Lower              
CRM : +5.43% ;  ULTA : +5.18% ;  NVDA : +4.88%          
                    
NASDAQ 100                   
                    
Nasdaq Above 30MA    =  63                 
ULTA, NVDA, XLNX, TCOM, SGEN, EBAY, AMD, DXCM, EXPE, INTU, ZM, LBTYA, ASML, REGN, NTES, INCY, ADBE, EXC, BKNG, LBTYK, AVGO, PEP, ADI, MXIM, MCHP, IDXX, QCOM, SIRI, LRCX, NXPI, FAST, CPRT, GOOG, KHC, TXN, MDLZ, SBUX, CHTR, PAYX, MU, AMAT, PYPL, KLAC, TMUS, ATVI, CMCSA, EA, CSCO, CERN, SNPS, CTAS, VRSN, GOOGL, ALXN, ADSK, TTWO, ADP, ILMN, WDC, FB, ALGN, NTAP, COST
                    
Stocks to watch on  Tuesday                 
                    
 Nasdaq100  xsing above30   = 12                
  XLNX, EBAY, AMD, DXCM, LBTYA, REGN, INCY, EXC, BKNG, LBTYK, QCOM, SBUX            
                    
 Nasdaq100  xsing below30  = 4                
  FOX, LULU, MAR, FOXA                 
                    
                    
MACD Crossover:                  
Up   3                 
PEP, ROST, CSX                   
                    
Down   2                 
CERN, NTAP                   
                    
                    
 

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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)       ...