Thursday, April 07, 2022

SPY Market Forecast pointing down in the middle zone (bearish). IWM below 30ds SMA. Healthcare (XLV) and Energy (XLE) led the sectors.

 Futures to Watch - Daily Setups                  
/CL[K22]   $97.02 ( 0.79 / +0.82% ) ; Setup:   Channel           
/GC[M22]   $1,933.90 ( 10.8 / +0.56% ) ; Setup:   Channel           
/ES[M22]   $4,494.75 ( 19 / +0.42% ) ; Setup:   Channel           
/NQ[M22]   $14,528.50 ( 23.25 / +0.16% ) ; Setup:   Channel           
                    
                    
                    
SPY Market Forecast   78.88 Bearish pointing down in the middle zone             
   0.71   PCALL - 10 day SMA (0.75 - 1.00)             
                    
SPY INTERMEDIATE TERM:  Sideways- Price in between 30 &10 Wk SMA              
  6-months UP                 
  10-days SIDEWAYS                 
  3-days DOWN                 
                    
Indices                    
UP:     SPY +0.50% ; DIA +0.35% ; QQQ +0.24% ;          
Down:              IWM -0.32%        
                    
  TLT -0.75% at 126.49               
  VIX -2.49% at 21.55               
                    
SPY   : Channel   above 30ds SMA             
QQQ   : Channel   above 30ds SMA             
DIA   : Channel   above 30ds SMA             
IWM   : Channel   below 30ds SMA             
                    
                    
Sectors                    
  7 sectors closed higher led by  XLV +1.92%  and  XLE +1.31%    Lower =  4       
  10            closing above 30d. SMA  and 1   closing below.
                    
XLV leaders     :    CRL, PFE, TMO               
XLE leaders     :    DVN, OXY, COP, MRO              
XLP leaders     :    LW, STZ, COST, CL               
                    
Uptrend  XLV, XLE, XLB, XLI, XLU                 
Sideways  XLP, XLY, XLK, XLF, XLRE, XLC                
Downtrend                    
                    
                    
Breath:                    
NYSE Weakened  as  Decliners led  1590   to   1722 and  Nasdaq   Weakened   as  Decliners led 1918   to   2807    
                    
                    
NDX Leaders:                      
59 closing higher  and  42 closing Lower              
COST : +3.98% ;  ORLY : +3.66% ;  IDXX : +3.05%          
                    
DJIA Leaders:                      
16 closing higher  and  14 closing Lower              
MRK : +2.15% ;  WBA : +1.81% ;  HD : +1.41%          
                    
SP500 Leaders:                      
271 closing higher  and  226 closing Lower              
VIAC : N/A ;  HPQ : +14.75% ;  LW : +7.97%          
                    
NASDAQ 100                    
                    
Nasdaq Above 30MA    =   64                 
COST, ORLY, IDXX, AZN, SGEN, CRWD, ILMN, ZS, KLAC, CEG, TEAM, LULU, REGN, ADBE, FTNT, DLTR, PANW, VRTX, ROST, MNST, TSLA, ISRG, INTU, BIIB, CDNS, MELI, ABNB, CTAS, AMGN, KHC, MSFT, EXC, ADI, DXCM, PYPL, SNPS, VRSN, ADP, GILD, TXN, AAPL, AVGO, PEP, CPRT, DOCU, VRSK, FB, SIRI, TMUS, BKNG, HON, GOOGL, MDLZ, SPLK, GOOG, XEL, AMZN, PAYX, AEP, CMCSA, FAST, FISV, MTCH, NTES
                    
Stocks to watch on    Friday                 
                    
 Nasdaq100  xsing above30   = 3                
  ZS, KLAC, ADBE                 
                    
 Nasdaq100  xsing below30  = 3                
  KDP, ZM, PDD                 
                    
                    
MACD Crossover:                    
Up   2                 
ORLY, REGN                    
                    
Down   10                 
ZS, DXCM, VRSN, ALGN, FB, ZM, CHTR, FISV, MTCH, JD                 
                    

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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)       ...