Thursday, November 04, 2021

New all times high for SPY, QQQ and IWM. DIA in a bull flag setup. Technology (XLK) led the sector with QCOM, NVDA and ANSS as best performers

 SPY Market Forecast 98.97 Bullish pointing up in the upper zone                
   0.5   PCALL - 10 day SMA (0.75 - 1.00)              
   149.77   SKEW (120 - 140)                
                     
INTERMEDIATE TERM: Uptrend- Price above 30 &10 Wk SMA                
  6-months UP                  
  10-days UP                  
  3-days UP                  
                     
Indices                     
UP:     QQQ +1.28% ; SPY +0.47% ;              
Down:           IWM -0.04% ; DIA -0.06%         
                     
  TLT +1.05% at 147.1                
  VIX +2.25% at 15.44                
                     
SPY   : New all times highs    above 30ds SMA              
QQQ   : New all times highs    above 30ds SMA              
DIA   : Bull Flag Setup    above 30ds SMA              
IWM   : New all times highs    above 30ds SMA              
                     
                     
Sectors                     
  6 sectors closed higher led by  XLK +1.56%  and  XLY +1.35%    Lower =  5        
  11            closing above 30d. SMA  and 0   closing below.  
                     
XLK leaders     :    QCOM, NVDA, ANSS               
XLY leaders     :    ETSY, DPZ, GM, F                
XLC leaders     :    LUMN, TTWO, ATVI, EA               
                     
Uptrend XLK, XLY, XLI, XLE, XLP, XLB, XLV, XLRE, XLF                
Sideways XLC, XLU                  
Downtrend                    
                     
                     
Breath:                     
NYSE Weakened  as  Decliners led  1470   to   1833 and  Nasdaq   Weakened   as  Decliners led 2085   to   2561     
                     
                     
NDX Leaders:                      
65 closing higher  and  37 closing Lower               
QCOM : +12.73% ;  NVDA : +12.04% ;  ANSS : +6.52%           
                     
DJIA Leaders:                      
14 closing higher  and  16 closing Lower               
MRK : +2.10% ;  NKE : +1.70% ;  CRM : +1.70%           
                     
SP500 Leaders:                      
213 closing higher  and  290 closing Lower               
ETSY : +13.21% ;  QCOM : +12.73% ;  LUMN : +12.64%           
                     
NASDAQ 100                    
                     
Nasdaq Above 30MA    =  81                  
QCOM, NVDA, ANSS, AMD, AMAT, MCHP, KLAC, CDNS, ADSK, XLNX, CRWD, MRVL, LRCX, ADBE, AMZN, VRTX, COST, SNPS, ASML, IDXX, FAST, EA, ORLY, VRSN, DXCM, NXPI, MU, LULU, TSLA, SGEN, GOOG, FB, AVGO, GOOGL, EBAY, ADI, VRSK, INCY, ALGN, TEAM, MSFT, CTAS, TMUS, WBA, OKTA, ILMN, MNST, WDAY, ISRG, INTU, DOCU, BIIB, PAYX, ROST, ADP, KDP, SPLK, EXC, PEP, CTSH, HON, MAR, CPRT, CDW, AAPL, MDLZ, KHC, REGN, CSX, CSCO, PCAR, NTES, ZM, AEP, SWKS, JD, AMGN, SIRI, NFLX, CERN, DLTR
                     
Stocks to watch on  Friday                  
                     
 Nasdaq100  xsing above30   = 4                 
  IDXX, ORLY, FB, MNST                  
                     
 Nasdaq100  xsing below30  = 5                 
  SBUX, FOX, FOXA, BIDU, PTON                 
                     
                     
MACD Crossover:                   
Up   6                  
ADSK, AMZN, EA, VRSK, CTSH, INTC                  
                     
Down   5                  
CDW, AEP, NFLX, PTON, MRNA                  
                     
         
SETUPS        
BF  : SWKS, EXC, PCAR, TMUS, CSX, NFLX, MAR, MDLZ, DXCM, TEAM  
HBO  : AAPL, ADBE, AMZN, ALGN, CTSH, PAYX, ROST, ADI, ASML, AMGN, MCHP, MU, VRSN, ADSK, CRWD, DLTR, GOOGL, ILMN, KHC, MNST, GOOG, ISRG, MRVL, REGN, KDP
2T  : QCOM, NXPI      
MACD  :        
CHANNEL  : CHKP, CHTR, IDXX, SPLK, TCOM, XEL, CDW, BIIB, FOXA, FOX, CERN, EBAY, TXN, LRCX, DOCU, MELI, SIRI, BKNG, EA, FB, AEP, ORLY, ZM, OKTA, HON, MTCH, VRTX, WBA
BEAR  : INTC, SBUX, FISV, ATVI, INCY, GILD, CMCSA, MRNA, PTON   
NH  : MSFT, CDNS, CTAS, SNPS, XLNX, TSLA, PEP, ADP, COST, VRSK, AMD, FAST, KLAC, LULU, ANSS, SGEN, AVGO
EPS  : NVDA, PYPL, CPRT, WDAY, INTU, AMAT, BIDU, CSCO, JD, NTES, PDD  

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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)       ...