Friday, March 11, 2022

Steady intraday downtrend from the overnight highs. SPY Market Forecast bearish and about to break the lower zone... This does not look good.

 SPY Market Forecast 23.35 Bearish pointing down in the middle zone            
   0.82   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:                      
Down:     DIA -0.63% ; SPY -1.27% ; IWM -1.60% ; QQQ -2.07%       
                   
  TLT +0.33% at 134.91              
  VIX +1.72% at 30.75              
                   
SPY   : Bearish   below 30ds SMA            
QQQ   : Bearish   below 30ds SMA            
DIA   : Bearish   below 30ds SMA            
IWM   : Bearish   below 30ds SMA            
                   
                   
Sectors                   
  0 sectors closed higher led by  XLU -0.34%  and  XLF -0.71%    Lower =  11      
  2            closing above 30d. SMA  and 9   closing below.
                   
XLU leaders     :    NRG, PEG, ATO, EVRG             
XLF leaders     :    WRB, TRV, PGR, GL              
XLB leaders     :    LYB, WRK, NUE, IP              
                   
Uptrend XLU, XLE                
Sideways XLRE                 
Downtrend XLF, XLB, XLV, XLI, XLP, XLK, XLC, XLY               
                   
                   
Breath:                   
NYSE Weakened  as  Decliners led  902   to   2417 and  Nasdaq   Weakened   as  Decliners led 1323   to   3383   
                   
                   
NDX Leaders:                    
7 closing higher  and  95 closing Lower             
REGN : +1.94% ;  AMGN : +0.84% ;  TMUS : +0.83%         
                   
DJIA Leaders:                    
8 closing higher  and  22 closing Lower             
MCD : +2.19% ;  CAT : +1.44% ;  TRV : +1.07%         
                   
SP500 Leaders:                    
92 closing higher  and  405 closing Lower             
VIAC : N/A ;  EPAM : +6.03% ;  LYB : +3.70%         
                   
NASDAQ 100                  
                   
Nasdaq Above 30MA    =  21                
REGN, AMGN, TMUS, CTSH, XEL, EXC, ORLY, CRWD, AEP, KHC, CSX, FAST, AZN, COST, ADP, PANW, ODFL, DLTR, PAYX, SGEN, SPLK       
                   
Stocks to watch on  Monday                
                   
 Nasdaq100  xsing above30   = 1               
  AMGN                 
                   
 Nasdaq100  xsing below30  = 7               
  ATVI, WBA, TXN, AVGO, VRTX, CDNS, IDXX              
                   
                   
MACD Crossover:                 
Up   2                
CRWD, AZN                  
                   
Down   10                
CSX, CMCSA, WDAY, INTC, INTU, CDNS, DXCM, ILMN, IDXX, ADBE              
                   

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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)       ...