Thursday, October 07, 2021

Market Forecast indicator turned bullish. Breath strengthened in NYSE and Nasdaq. SPY and QQQ closed above 10ds SMA but below 30ds SMA.

 SPY Market Forecast 26.79 Bullish pointing up in the middle zone                
   0.68   PCALL - 10 day SMA (0.75 - 1.00)              
   131.51   SKEW (120 - 135)                
                     
INTERMEDIATE TERM: Sideways- Price in between 30 &10 Wk SMA               
  6-months UP                  
  10-days DOWN                  
  3-days UP                   
                     
Indices                     
UP:     IWM +1.54% ; DIA +1.02% ; QQQ +0.92% ; SPY +0.86%         
Down:                        
                     
  TLT -1.05% at 142.88                
  VIX -6.95% at 19.54                
                     
SPY   : Met resistance after gap up    below 30ds SMA              
QQQ   : Retraced after gap up    below 30ds SMA              
DIA   : Met resistance after gap up   Crossing above 30ds SMA             
IWM   : Channel   Crossing above 30ds SMA             
                     
                     
Sectors                     
  10 sectors closed higher led by  XLY +1.56%  and  XLV +1.33%    Lower =  1        
  3            closing above 30d. SMA  and 8   closing below.  
                     
XLY leaders     :    F, PENN, GM, APTV               
XLV leaders     :    ALXN, HUM, ANTM, ILMN               
XLB leaders     :    FCX, MOS, NUE, PPG               
                     
Uptrend XLE                   
Sideways XLY, XLV, XLB, XLK, XLI, XLF, XLC, XLP, XLRE                
Downtrend XLU                   
                     
                     
Breath:                     
NYSE Strengthened  as  Advancers led  2328   to   983 and  Nasdaq   Strengthened  as  Advancers led 3215   to   1313     
                     
                     
NDX Leaders:                      
82 closing higher  and  20 closing Lower               
NTES : +8.29% ;  PDD : +6.30% ;  JD : +6.16%           
                     
DJIA Leaders:                      
26 closing higher  and  4 closing Lower               
UNH : +2.65% ;  DOW : +2.36% ;  HD : +2.16%           
                     
SP500 Leaders:                      
394 closing higher  and  110 closing Lower               
MXIM : N/A ;  FCX : +8.23% ;  F : +5.45%           
                     
NASDAQ 100                    
                     
Nasdaq Above 30MA    =  29                  
NTES, EBAY, XLNX, AMD, KDP, MRVL, SIRI, MTCH, TCOM, MAR, VRSK, FOXA, PCAR, TSLA, ADP, FOX, CTAS, DLTR, PEP, BKNG, PAYX, TXN, INTC, ORLY, TEAM, KHC, CSX, NFLX, SGEN   
                     
Stocks to watch on  Friday                  
                     
 Nasdaq100  xsing above30   = 4                 
  EBAY, XLNX, AMD, KDP                  
                     
 Nasdaq100  xsing below30  = 0                 
                     
                     
                     
MACD Crossover:                   
Up   24                  
PDD, JD, PTON, EBAY, XLNX, AMD, KDP, SPLK, MRVL, ADSK, VRSK, FAST, TSLA, GOOG, GOOGL, ANSS, AAPL, CRWD, MSFT, SBUX, INTC, CERN, MNST, QCOM      
                     
Down   3                  
AMGN, TMUS, SGEN                   
                     
                     

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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)       ...