Friday, March 25, 2022

Markets showed strength into the close. Morning selloff reversed during the afternoon in SPY and QQQ. SPY Market Forecast bullish pointing higher just below the oversold zone. Energy (XLE) and Utilities (XLU) led the sectors

 SPY Market Forecast 79.55 Bullish pointing up in the middle zone              
   0.73   PCALL - 10 day SMA (0.75 - 1.00)            
                   
                   
INTERMEDIATE TERM: Uptrend- Price above 30 &10 Wk SMA              
  6-months UP                
  10-days UP                
  3-days UP                
                   
Indices                   
UP:     SPY +0.49% ; DIA +0.43% ; IWM +0.14% ;         
Down:              QQQ -0.08%       
                   
  TLT -1.39% at 128.66              
  VIX -3.97% at 20.81              
                   
SPY   : up    above 30ds SMA            
QQQ   : up    above 30ds SMA            
DIA   : up    above 30ds SMA            
IWM   : sideways   above 30ds SMA            
                   
                   
Sectors                   
  9 sectors closed higher led by  XLE +2.19%  and  XLU +1.45%    Lower =  2      
  11            closing above 30d. SMA  and 0   closing below.
                   
XLE leaders     :    CTRA, KMI, PSX, HAL             
XLU leaders     :    PNW, EIX, ATO, SO              
XLF leaders     :    ZION, CMA, LNC, PFG             
                   
Uptrend XLE, XLU, XLB, XLI, XLV                
Sideways XLF, XLRE, XLP, XLC, XLK, XLY               
Downtrend                  
                   
                   
Breath:                   
NYSE Strengthened  as  Advancers led  1701   to   1611 and  Nasdaq   Weakened   as  Advancers led 1972   to   2757   
                   
                   
NDX Leaders:                    
46 closing higher  and  56 closing Lower             
DXCM : +2.69% ;  CEG : +2.65% ;  EXC : +2.34%         
                   
DJIA Leaders:                    
25 closing higher  and  5 closing Lower             
TRV : +1.92% ;  CVX : +1.81% ;  IBM : +1.62%         
                   
SP500 Leaders:                    
375 closing higher  and  127 closing Lower             
VIAC : N/A ;  CTRA : +6.96% ;  LUMN : +4.68%         
                   
NASDAQ 100                  
                   
Nasdaq Above 30MA    =  75                
DXCM, CEG, EXC, ISRG, FISV, KHC, NTES, HON, EA, XEL, LULU, FB, ADP, SIRI, VRTX, MRVL, AMGN, PAYX, CTAS, CMCSA, AMZN, CSX, PEP, ORLY, AEP, INTC, ADI, FAST, AVGO, TXN, AAPL, CTSH, EBAY, VRSN, WBA, KLAC, GOOG, GOOGL, REGN, PANW, VRSK, MSFT, LRCX, MAR, IDXX, DLTR, MTCH, SWKS, TSLA, CPRT, NXPI, SPLK, ILMN, ADSK, COST, ASML, NFLX, BKNG, CRWD, MCHP, AMD, FTNT, ODFL, BIIB, AMAT, WDAY, AZN, NVDA, PYPL, CDNS, SNPS, SGEN, ABNB, MELI, MRNA
                   
Stocks to watch on  Monday                
                   
 Nasdaq100  xsing above30   = 3               
  ISRG, EA, WBA                
                   
 Nasdaq100  xsing below30  = 6               
  TMUS, BIDU, TEAM, DDOG, DOCU, LCID               
                   
                   
MACD Crossover:                 
Up   1                
KDP                   
                   
Down   2                
DLTR, ODFL                  
                   

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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)       ...