Thursday, November 11, 2021

All indices in a bull flag. Basic Materials (XLB) and Technology (XLK) led the sectors.

 SPY Market Forecast 90.5 Defensive pointing down in the upper zone            
   0.49   PCALL - 10 day SMA (0.75 - 1.00)            
   144.03   SKEW (120 - 140)              
                   
INTERMEDIATE TERM: Uptrend- Price above 30 &10 Wk SMA              
  6-months UP                
  10-days UP                
  3-days DOWN                
                   
Indices                   
UP:     IWM +0.80% ; QQQ +0.28% ; SPY +0.03% ;         
Down:              DIA -0.45%       
                   
  TLT -0.15% at 147.98              
  VIX -5.71% at 17.66              
                   
SPY   : Bull Flag Setup    above 30ds SMA      Bearish Divergence        
QQQ   : Bull Flag Setup    above 30ds SMA      Bearish Divergence        
DIA   : Bull Flag Setup    above 30ds SMA      Bearish Divergence        
IWM   : Bull Flag Setup    above 30ds SMA            
                   
                   
Sectors                   
  5 sectors closed higher led by  XLB +0.80%  and  XLK +0.47%    Lower =  6      
  10            closing above 30d. SMA  and 1   closing below.
                   
XLB leaders     :    FCX, EMN, NUE, ALB             
XLK leaders     :    MXIM, ENPH, WDC, STX             
XLE leaders     :    WMB, APA, FANG, BKR             
                   
Uptrend XLB, XLK, XLE, XLF, XLRE, XLP, XLY, XLV, XLI              
Sideways XLC, XLU                
Downtrend                  
                   
                   
Breath:                   
NYSE Strengthened  as  Advancers led  1887   to   1437 and  Nasdaq   Strengthened  as  Advancers led 2785   to   1897   
                   
                   
NDX Leaders:                    
54 closing higher  and  48 closing Lower             
JD : +8.31% ;  PDD : +7.35% ;  NTES : +6.87%         
                   
DJIA Leaders:                    
12 closing higher  and  18 closing Lower             
WBA : +1.98% ;  DOW : +1.57% ;  CRM : +1.10%         
                   
SP500 Leaders:                    
286 closing higher  and  217 closing Lower             
FCX : +9.01% ;  TPR : +8.38% ;  ENPH : +8.21%         
                   
NASDAQ 100                  
                   
Nasdaq Above 30MA    =  75                
JD, PDD, NTES, XLNX, AMD, EA, BIDU, MRVL, NVDA, MCHP, QCOM, DXCM, AMAT, NXPI, KLAC, SIRI, WBA, ASML, TEAM, TCOM, DLTR, NFLX, MU, ADSK, WDAY, COST, LRCX, ADI, AVGO, SNPS, FAST, REGN, VRSN, PCAR, CTSH, MSFT, INTU, EXC, CERN, MNST, PAYX, GILD, CPRT, GOOG, CTAS, AAPL, GOOGL, CDNS, CRWD, CDW, AMZN, SPLK, VRSK, MDLZ, TSLA, ORLY, ADP, ALGN, KHC, ADBE, KDP, AMGN, PEP, MELI, LULU, OKTA, CSX, VRTX, SGEN, CSCO, ANSS, HON, ISRG, ROST, BKNG
                   
Stocks to watch on  Friday                
                   
 Nasdaq100  xsing above30   = 6               
  JD, PDD, EA, BIDU, TCOM, NFLX               
                   
 Nasdaq100  xsing below30  = 5               
  CMCSA, XEL, SBUX, AEP, MAR               
                   
                   
MACD Crossover:                 
Up   4                
PDD, NTES, EA, FISV                 
                   
Down   13                
ASML, ADSK, GOOG, GOOGL, CDNS, CRWD, VRSK, INCY, ADP, VRTX, SBUX, ANSS, ISRG            
                   

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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)       ...