Monday, March 14, 2022

SPY moved up at the Market open and continued with a steady selloff, ranging during the afternoon. Very choppy market. SPY Market Forecast still bearish. Crude Oil tried to move below $100 failing and moving just below the overnight lows.

 SPY Market Forecast 22.32 Bearish pointing down in the middle zone             
   0.83   PCALL - 10 day SMA (0.75 - 1.00)             
                    
                    
INTERMEDIATE TERM: Downtrend- Price below 30 &10 Wk SMA               
  6-months DOWN                 
  10-days DOWN                 
  3-days DOWN                 
                    
Indices                    
UP:     DIA +0.02% ;                
Down:        SPY -0.73% ; QQQ -1.92% ; IWM -2.04%        
                    
  TLT -2.33% at 131.76               
  VIX +3.32% at 31.77               
                    
SPY   : Bearish   below 30ds SMA             
QQQ   : Bearish   below 30ds SMA             
DIA   : Bearish   below 30ds SMA             
IWM   : Bearish   below 30ds SMA             
                    
                    
Sectors                    
  4 sectors closed higher led by  XLF +1.26%  and  XLV +0.71%    Lower =  7       
  2            closing above 30d. SMA  and 9   closing below.
                    
XLF leaders     :    CINF, NTRS, FITB, DFS              
XLV leaders     :    MRNA, DXCM, PFE               
XLP leaders     :    CAG, STZ, KO, MKC               
                    
Uptrend XLU, XLE                 
Sideways                   
Downtrend XLF, XLV, XLP, XLI, XLB, XLRE, XLC, XLY, XLK               
                    
                    
Breath:                    
NYSE Weakened  as  Decliners led  876   to   2489 and  Nasdaq   Weakened   as  Decliners led 1164   to   3502    
                    
                    
NDX Leaders:                     
26 closing higher  and  76 closing Lower              
MRNA : +8.59% ;  DXCM : +4.36% ;  EBAY : +4.06%          
                    
DJIA Leaders:                     
16 closing higher  and  14 closing Lower              
AXP : +2.91% ;  TRV : +1.99% ;  KO : +1.84%          
                    
SP500 Leaders:                     
223 closing higher  and  277 closing Lower              
VIAC : N/A ;  NLSN : +30.50% ;  EPAM : +9.92%          
                    
NASDAQ 100                   
                    
Nasdaq Above 30MA    =  19                 
DLTR, VRTX, REGN, WBA, FAST, KHC, AMGN, AZN, ORLY, EXC, ADP, COST, TMUS, PAYX, CTSH, SGEN, AEP, XEL, CRWD          
                    
Stocks to watch on  Tuesday                 
                    
 Nasdaq100  xsing above30   = 2                
  VRTX, WBA                 
                    
 Nasdaq100  xsing below30  = 4                
  CSX, ODFL, PANW, SPLK                 
                    
                    
MACD Crossover:                  
Up   0                 
                    
                    
Down   8                 
FISV, CSX, AVGO, ODFL, INTC, TSLA, LCID, SPLK                
                    

No comments:

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)       ...