Friday, July 02, 2021

QQQ led the move up to all times high followed by SPY with all times highs as well. Sentiment is bullish. IWM down to test 30ds SMA.

 
SPY Market Forecast 98.01 Short-term bullish pointing up in the upper zone              
   0.51   PCALL - 10 day SMA (0.75 - 1.00)              
   157.94   SKEW (120 - 135)                
                     
INTERMEDIATE TERM: Uptrend- Price above 30 &10 Wk SMA                
  6-months UP                  
  10-days UP                  
  3-days UP                  
                     
Indices                     
UP:     QQQ +1.15% ; SPY +0.76% ; DIA +0.46% ;           
Down:              IWM -0.95%         
                     
  TLT +0.60% at 145.04                
  VIX -2.65% at 15.07                
                     
SPY   : New high    above 30ds SMA              
QQQ   : Bull Flag Triggered New high   above 30ds SMA              
DIA   : HBO Setup    above 30ds SMA              
IWM   : Retraced from BF    above 30ds SMA              
                     
                     
Sectors                     
  9 sectors closed higher led by  XLK +1.32%  and  XLV +0.96%    Lower =  2        
  7            closing above 30d. SMA  and 4   closing below.  
                     
XLK leaders     :    ORCL, PAYC, FTNT, MSFT               
XLV leaders     :    JNJ, ZTS, EW, REGN               
XLY leaders     :    HLT, KMX, AMZN, CMG               
                     
Uptrend XLK, XLV, XLY, XLC, XLRE                  
Sideways XLP, XLU, XLI, XLB, XLF, XLE                  
Downtrend                    
                     
                     
Breath:                     
NYSE Strengthened  as  Advancers led  1679   to   1603 and  Nasdaq   Weakened  as  Advancers led 1737   to   2573     
                     
                     
NDX Leaders:                      
80 closing higher  and  23 closing Lower               
GOOGL : +2.30% ;  AMZN : +2.27% ;  MSFT : +2.23%           
                     
DJIA Leaders:                      
22 closing higher  and  8 closing Lower               
MSFT : +2.23% ;  AAPL : +1.96% ;  JNJ : +1.82%           
                     
SP500 Leaders:                      
299 closing higher  and  200 closing Lower               
FLIR : N/A ;  ORCL : +2.87% ;  HLT : +2.58%           
                     
NASDAQ 100                    
                     
Nasdaq Above 30MA    =  72                  
GOOGL, AMZN, MSFT, AAPL, XLNX, GOOG, BMRN, REGN, AMD, IDXX, ADBE, CHTR, ADSK, SBUX, NVDA, INTU, CTXS, QCOM, NTAP, CERN, SWKS, ASML, ANSS, WDAY, LULU, CMCSA, ISRG, ORLY, COST, DXCM, FAST, ROST, VRSN, SIRI, SPLK, EA, ADI, ILMN, ALGN, ULTA, ADP, MXIM, SNPS, CDNS, TXN, CTAS, AMGN, TMUS, ALXN, ZM, CDW, CPRT, PEP, MELI, NXPI, PYPL, VRSK, EBAY, DOCU, GILD, PAYX, CSCO, AMAT, TSLA, FB, NFLX, BIIB, AVGO, NTES, SGEN, JD, BIDU
                     
Stocks to watch on  Tuesday                  
                     
 Nasdaq100  xsing above30   = 5                 
  CERN, ASML, FAST, EA, NXPI                 
                     
 Nasdaq100  xsing below30  = 2                 
  FOXA, VRTX                  
                     
                     
MACD Crossover:                   
Up   9                  
GOOGL, BMRN, MAR, INTC, NTAP, ALGN, EXC, EXPE, CSCO                
                     
Down   5                  
MCHP, KLAC, LRCX, AVGO, MNST                  
                     

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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)       ...