Wednesday, March 16, 2022

Market moved strong to the upside after Fed Announcement breaking the low of the first day of the month range. SPY Market Forecast closed higher (bullish). VIX closed lower at 26.78.

 SPY Market Forecast 29.93 Bullish pointing up in the middle zone               
   0.85   PCALL - 10 day SMA (0.75 - 1.00)             
                    
                    
INTERMEDIATE TERM: Downtrend- Price below 30 &10 Wk SMA               
  6-months SIDEWAYS                 
  10-days SIDEWAYS                 
  3-days UP                 
                    
Indices                    
UP:     QQQ +3.71% ; IWM +3.14% ; SPY +2.20% ; DIA +1.54%        
Down:                       
                    
  TLT +0.98% at 132.82               
  VIX -10.22% at 26.78               
                    
SPY   : Bearish   below 30ds SMA             
QQQ   : Bearish   below 30ds SMA             
DIA   : Bearish   below 30ds SMA             
IWM   : Bearish   crossing above 30ds SMA            
                    
                    
Sectors                    
  9 sectors closed higher led by  XLY +3.38%  and  XLK +3.25%    Lower =  2       
  6            closing above 30d. SMA  and 5   closing below.
                    
XLY leaders     :    LVS, WYNN, APTV, PVH              
XLK leaders     :    EPAM, MU, ENPH               
XLF leaders     :    SBNY, SCHW, MS, LNC              
                    
Uptrend XLU, XLE                 
Sideways                   
Downtrend XLY, XLK, XLF, XLC, XLB, XLI, XLV, XLRE, XLP               
                    
                    
Breath:                    
NYSE Strengthened  as  Advancers led  2669   to   701 and  Nasdaq   Strengthened  as  Advancers led 3755   to   1002    
                    
                    
NDX Leaders:                     
94 closing higher  and  8 closing Lower              
PDD : +56.06% ;  JD : +39.36% ;  BIDU : +39.20%          
                    
DJIA Leaders:                     
20 closing higher  and  10 closing Lower              
BA : +5.06% ;  NKE : +4.85% ;  CRM : +4.81%          
                    
SP500 Leaders:                     
414 closing higher  and  88 closing Lower              
VIAC : N/A ;  EPAM : +25.19% ;  MRNA : +14.34%          
                    
NASDAQ 100                   
                    
Nasdaq Above 30MA    =  39                 
MRNA, MELI, ASML, NVDA, CDNS, DXCM, MRVL, ODFL, MCHP, CPRT, AMZN, CSX, MAR, IDXX, SGEN, PANW, AVGO, VRSK, TXN, PAYX, CTAS, REGN, CTSH, HON, TMUS, AZN, ORLY, DLTR, VRTX, CRWD, CSCO, FAST, COST, ADP, AMGN, KHC, EXC, AEP, XEL
                    
Stocks to watch on  Thursday                 
                    
 Nasdaq100  xsing above30   = 13                
  MRNA, MELI, ASML, NVDA, CDNS, MRVL, MCHP, CPRT, AMZN, CSX, MAR, IDXX, HON           
                    
 Nasdaq100  xsing below30  = 1                
  WBA                  
                    
                    
MACD Crossover:                  
Up   31                 
NTES, TEAM, MELI, ASML, ABNB, ZM, LCID, NVDA, ADSK, NXPI, AMD, SBUX, ADI, ADBE, AMAT, TSLA, ODFL, ILMN, ROST, ANSS, INTU, NFLX, CSX, MAR, BIIB, GOOGL, GOOG, MSFT, CMCSA, PEP, CSCO
                    
Down   2                 
EXC, XEL                   
                    

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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)       ...