Friday, March 04, 2022

SPY still within the March 1st range unable to move higher, although forming a hammer and under the 30ds SMA. Market forecarst is bullish.

 SPY Market Forecast 45.69 Bullish pointing up in the middle zone              
   0.87   PCALL - 10 day SMA (0.75 - 1.00)            
                   
                   
INTERMEDIATE TERM: Downtrend- Price below 30 &10 Wk SMA              
  6-months SIDEWAYS                
  10-days DOWN                
  3-days DOWN                
                   
Indices                   
UP:                      
Down:     DIA -0.49% ; SPY -0.81% ; QQQ -1.45% ; IWM -1.57%       
                   
  TLT +1.73% at 140.24              
  VIX +4.92% at 31.98              
                   
SPY   : Bearish   below 30ds SMA            
QQQ   : Bearish   below 30ds SMA            
DIA   : Bearish   below 30ds SMA            
IWM   : Bearish   below 30ds SMA            
                   
                   
Sectors                   
  5 sectors closed higher led by  XLE +2.89%  and  XLU +2.21%    Lower =  6      
  6            closing above 30d. SMA  and 5   closing below.
                   
XLE leaders     :    OXY, BKR, CTRA, MRO             
XLU leaders     :    AWK, XEL, EVRG, ES             
XLRE leaders     :    UDR, ESS, EXR, PEAK             
                   
Uptrend XLE, XLU                
Sideways XLV, XLP                
Downtrend XLRE, XLI, XLB, XLC, XLY, XLK, XLF               
                   
                   
Breath:                   
NYSE Weakened  as  Decliners led  1072   to   2260 and  Nasdaq   Weakened   as  Decliners led 1223   to   3424   
                   
                   
NDX Leaders:                    
29 closing higher  and  72 closing Lower             
CSX : +6.06% ;  SPLK : +5.93% ;  SGEN : +4.06%         
                   
DJIA Leaders:                    
14 closing higher  and  16 closing Lower             
WMT : +2.53% ;  UNH : +2.48% ;  WBA : +2.14%         
                   
SP500 Leaders:                    
194 closing higher  and  305 closing Lower             
OXY : +17.59% ;  MOS : +7.49% ;  KR : +6.97%         
                   
NASDAQ 100                  
                   
Nasdaq Above 30MA    =  33                
CSX, SPLK, SGEN, XEL, AVGO, EXC, PAYX, AEP, DXCM, ADP, FAST, REGN, VRTX, CTSH, ISRG, CSCO, KDP, CDNS, AMGN, SNPS, ATVI, FTNT, KHC, VRSN, IDXX, TMUS, COST, ORLY, ODFL, DLTR, WDAY, PANW, CRWD
                   
Stocks to watch on  Monday                
                   
 Nasdaq100  xsing above30   = 4               
  SGEN, ADP, FAST, REGN                
                   
 Nasdaq100  xsing below30  = 4               
  LULU, MELI, AZN, MU                
                   
                   
MACD Crossover:                 
Up   4                
SPLK, AVGO, PEP, REGN                 
                   
Down   12                
ADSK, ADI, AAPL, QCOM, AMD, NVDA, AMAT, AZN, NXPI, OKTA, ASML, DOCU            
                   

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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)       ...