Wednesday, January 12, 2022

Range day. Market Forecast turned bullish.

 SPY Market Forecast 61.62 Bullish pointing up in the middle zone             
   0.61   PCALL - 10 day SMA (0.75 - 1.00)             
   135.73   SKEW (120 - 140)               
                    
INTERMEDIATE TERM: Uptrend- Price above 30 &10 Wk SMA               
  6-months UP                 
  10-days DOWN                 
  3-days UP                 
                    
Indices                    
UP:     QQQ +0.40% ; SPY +0.27% ; DIA +0.11% ;          
Down:              IWM -0.74%        
                    
  TLT -0.38% at 143.01               
  VIX -4.29% at 17.62               
                    
SPY   : Channel   above 30ds SMA             
QQQ   : Channel   below 30ds SMA             
DIA   : Channel   above 30ds SMA             
IWM   : Channel   below 30ds SMA             
                    
                    
Sectors                    
  10 sectors closed higher led by  XLB +1.01%  and  XLY +0.66%    Lower =  1       
  7            closing above 30d. SMA  and 4   closing below.
                    
XLB leaders     :    FCX, MOS, NUE, FMC              
XLY leaders     :    TSLA, AZO, AAP, POOL              
XLK leaders     :    AMAT, LRCX, KLAC               
                    
Uptrend XLB, XLI, XLU, XLRE, XLE, XLF, XLP                
Sideways XLY, XLK, XLV                 
Downtrend XLC                  
                    
                    
Breath:                    
NYSE Strengthened  as  Advancers led  1693   to   1593 and  Nasdaq   Weakened   as  Advancers led 1876   to   2663    
                    
                    
NDX Leaders:                     
53 closing higher  and  49 closing Lower              
AMAT : +4.66% ;  TSLA : +3.93% ;  MELI : +3.85%          
                    
DJIA Leaders:                     
16 closing higher  and  14 closing Lower              
CRM : +1.27% ;  NKE : +1.27% ;  CAT : +1.11%          
                    
SP500 Leaders:                     
287 closing higher  and  213 closing Lower              
TTWO : +5.15% ;  FCX : +5.02% ;  AMAT : +4.66%          
                    
NASDAQ 100                   
                    
Nasdaq Above 30MA    =  45                 
AMAT, TSLA, MELI, NTES, KLAC, BIDU, EA, MU, CSX, HON, EXC, NXPI, PDD, AEP, ABNB, QCOM, KDP, ORLY, AAPL, PCAR, MDLZ, SIRI, CTSH, SWKS, VRTX, XEL, LCID, PEP, GILD, MAR, AMGN, INTC, FB, CMCSA, PAYX, CSCO, JD, SPLK, MNST, KHC, WBA, FISV, BKNG, ATVI, ILMN
                    
Stocks to watch on  Thursday                 
                    
 Nasdaq100  xsing above30   = 4                
  AMAT, MELI, CSX, ABNB                 
                    
 Nasdaq100  xsing below30  = 4                
  MRVL, PYPL, EBAY, BIIB                 
                    
                    
MACD Crossover:                  
Up   3                 
MRNA, ADBE, AMGN                  
                    
Down   4                 
AEP, XEL, BKNG, ZM                  
                    

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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)       ...