Friday, June 04, 2021

SPY Market Forecast bullish. Market had a positive reaction to the Unemployment rate announcement. SPY in All times high, DIA setup for an horizontal breakout.

 
SPY Market Forecast 86.42 Short-term bullish pointing up in the upper zone             
   0.52   PCALL - 10 day SMA (0.75 - 1.00)             
   147.76   SKEW (120 - 135)               
                    
INTERMEDIATE TERM: Uptrend- Price above 30 &10 Wk SMA               
  6-months UP                 
  10-days UP                 
  3-days UP                 
                    
Indices                    
UP:     QQQ +1.70% ; SPY +0.91% ; DIA +0.54% ; IWM +0.43%        
Down:                       
                    
  TLT +1.37% at 139.9               
  VIX -8.98% at 16.42               
                    
SPY   : Channel HBO Setup    above 30ds SMA             
QQQ   : Channel HBO Setup    above 30ds SMA             
DIA   : Channel HBO Setup    above 30ds SMA             
IWM   : Channel HBO Setup    above 30ds SMA             
                    
                    
Sectors                    
  10 sectors closed higher led by  XLK +1.92%  and  XLC +1.43%    Lower =  1       
  8            closing above 30d. SMA  and 3   closing below.
                    
XLK leaders     :    IPGP, ADSK, NVDA, MPWR              
XLC leaders     :    TTWO, TWTR, EA, ATVI              
XLY leaders     :    TSLA, APTV, EBAY, TSCO              
                    
Uptrend XLK, XLC, XLE, XLP, XLI, XLF, XLB, XLRE                
Sideways XLY, XLV, XLU                 
Downtrend                   
                    
                    
Breath:                    
NYSE Strengthened  as  Advancers led  2117   to   1189 and  Nasdaq   Strengthened  as  Advancers led 2577   to   1687    
                    
                    
NDX Leaders:                     
94 closing higher  and  9 closing Lower              
DOCU : +19.76% ;  ZM : +5.33% ;  BIIB : +4.99%          
                    
DJIA Leaders:                     
23 closing higher  and  7 closing Lower              
CRM : +2.88% ;  MSFT : +2.07% ;  INTC : +2.01%          
                    
SP500 Leaders:                     
336 closing higher  and  165 closing Lower              
BIIB : +4.99% ;  TSLA : +4.58% ;  IPGP : +4.03%          
                    
NASDAQ 100                   
                    
Nasdaq Above 30MA    =  68                 
DOCU, ZM, BIIB, LULU, TTWO, ADSK, NVDA, ILMN, LRCX, KLAC, NTAP, ASML, AMAT, INTU, MCHP, ADBE, EA, MXIM, XLNX, AVGO, TXN, ADI, SNPS, MU, MSFT, PCAR, PYPL, INTC, GOOG, GOOGL, ATVI, QCOM, CHKP, EBAY, DXCM, AMD, TMUS, IDXX, GILD, SIRI, CSCO, FB, REGN, CPRT, CMCSA, CHTR, COST, FAST, SGEN, ALXN, PAYX, NTES, BMRN, NXPI, INCY, WDC, MDLZ, CTAS, ADP, MNST, WBA, TCOM, PEP, CERN, KHC, JD, EXC, ULTA
                    
Stocks to watch on  Monday                 
                    
 Nasdaq100  xsing above30   = 18                
  DOCU, BIIB, LULU, ADSK, KLAC, ADBE, MU, MSFT, INTC, QCOM, CHKP, GILD, CPRT, CHTR, FAST, BMRN, INCY, CTAS        
                    
 Nasdaq100  xsing below30  = 0                
                    
                    
                    
MACD Crossover:                  
Up   7                 
BIIB, NTAP, AAPL, CHKP, CSCO, REGN, WBA                 
                    
Down   2                 
NXPI, SPLK                   
                    
 

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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)       ...