Monday, March 07, 2022

Steady selling throughout the day confirming the first day of the month break of support. Market Forecast is bearish, all the indices are down led by QQQ.

 SPY Market Forecast 41 Bearish pointing down in the middle zone            
   0.84   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 -2.38% ; IWM -2.49% ; SPY -2.95% ; QQQ -3.69%       
                   
  TLT -0.76% at 139.17              
  VIX +13.98% at 36.45              
                   
SPY   : Bearish   below 30ds SMA            
QQQ   : Bearish   below 30ds SMA            
DIA   : Bearish   below 30ds SMA            
IWM   : Bearish   below 30ds SMA            
                   
                   
Sectors                   
  2 sectors closed higher led by  XLE +1.48%  and  XLU +1.30%    Lower =  9      
  2            closing above 30d. SMA  and 9   closing below.
                   
XLE leaders     :    SLB, HAL, BKR, XOM             
XLU leaders     :    NEE, FE, SO, DUK              
XLV leaders     :    JNJ, INCY, UHS              
                   
Uptrend XLE, XLU                
Sideways XLV, XLP                
Downtrend XLRE, XLI, XLC, XLB, XLF, XLK, XLY               
                   
                   
Breath:                   
NYSE Weakened  as  Decliners led  712   to   2702 and  Nasdaq   Weakened   as  Decliners led 1238   to   3529   
                   
                   
NDX Leaders:                    
11 closing higher  and  91 closing Lower             
SIRI : +3.40% ;  LCID : +2.39% ;  SGEN : +1.82%         
                   
DJIA Leaders:                    
4 closing higher  and  26 closing Lower             
CVX : +2.14% ;  JNJ : +1.61% ;  AMGN : +0.62%         
                   
SP500 Leaders:                    
67 closing higher  and  435 closing Lower             
SLB : +8.12% ;  HAL : +6.18% ;  NEE : +4.95%         
                   
NASDAQ 100                  
                   
Nasdaq Above 30MA    =  25                
SIRI, SGEN, AEP, KHC, AMGN, COST, XEL, FAST, ADP, REGN, TMUS, PAYX, EXC, ATVI, CSX, VRSN, SPLK, CSCO, DLTR, ORLY, DXCM, CDNS, ISRG, IDXX, PANW    
                   
Stocks to watch on  Tuesday                
                   
 Nasdaq100  xsing above30   = 1               
  SIRI                 
                   
 Nasdaq100  xsing below30  = 9               
  VRTX, KDP, CTSH, AVGO, SNPS, ODFL, CRWD, WDAY, FTNT             
                   
                   
MACD Crossover:                 
Up   0                
                   
                   
Down   15                
PEP, NFLX, MSFT, GOOGL, AVGO, GOOG, ROST, SWKS, SBUX, CRWD, MRNA, CPRT, MNST, MELI, FTNT          
                   

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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)       ...