Monday, May 23, 2022

Counter Trend move. All indices closed higher led by DIA. SPY and QQQ in a bear flag setup. Financials (XLF) led the move to the upside.

 Futures to Watch - Daily Setups                  
/CL[K22]   $110.48 ( 0.2 / +0.18% ) ; Setup:   Range           
/GC[M22]   $1,851.50 ( 9.4 / +0.51% ) ; Setup:   Range           
/ES[M22]   $3,977.25 ( 77.75 / +1.99% ) ; Setup:   Bear Flag          
/NQ[M22]   $12,054.25 ( 213.5 / +1.80% ) ; Setup:   Bear Flag          
                    
                    
                    
SPY Market Forecast   16.8 Bullish pointing up in the lower zone               
   0.91   PCALL - 10 day SMA (0.75 - 1.00)             
                    
SPY INTERMEDIATE TERM:  Downtrend- Price below 30 &10 Wk SMA               
  6-months DOWN                 
  10-days DOWN                 
  3-days UP                 
                    
Indices                    
UP:     DIA +2.05% ; SPY +1.87% ; QQQ +1.66% ; IWM +1.21%        
Down:                       
                    
  TLT -1.65% at 116.56               
  VIX -3.23% at 28.48               
                    
SPY   : Bearish   below 30ds SMA             
QQQ   : Bearish   below 30ds SMA             
DIA   : Bearish   below 30ds SMA             
IWM   : Bearish   below 30ds SMA             
                    
                    
Sectors                    
  11 sectors closed higher led by  XLF +3.25%  and  XLE +2.64%    Lower =  0       
  1            closing above 30d. SMA  and 10   closing below.
                    
XLF leaders     :    JPM, C, BAC, CMA               
XLE leaders     :    SLB, APA, CTRA, EOG              
XLK leaders     :    XLNX, V, AAPL               
                    
Uptrend  XLE                  
Sideways  XLB, XLU                 
Downtrend  XLF, XLK, XLP, XLI, XLC, XLRE, XLV, XLY                
                    
                    
Breath:                    
NYSE Strengthened  as  Advancers led  2264   to   1026 and  Nasdaq   Strengthened  as  Advancers led 2762   to   1919    
                    
                    
NDX Leaders:                      
76 closing higher  and  26 closing Lower              
ROST : +9.57% ;  PANW : +4.51% ;  ASML : +4.09%          
                    
DJIA Leaders:                      
27 closing higher  and  3 closing Lower              
JPM : +6.19% ;  V : +4.29% ;  AAPL : +4.01%          
                    
SP500 Leaders:                      
417 closing higher  and  81 closing Lower              
VIAC : N/A ;  DISCK : N/A ;  XLNX : N/A          
                    
NASDAQ 100                    
                    
Nasdaq Above 30MA    =   23                 
VRTX, FISV, REGN, TMUS, EA, LRCX, KLAC, AMD, EXC, SIRI, XEL, AMGN, MCHP, NXPI, AZN, NTES, SNPS, SGEN, GILD, BIDU, ADI, MNST, PDD         
                    
Stocks to watch on    Tuesday                 
                    
 Nasdaq100  xsing above30   = 7                
  VRTX, FISV, REGN, TMUS, EXC, SIRI, MCHP               
                    
 Nasdaq100  xsing below30  = 0                
                    
                    
                    
MACD Crossover:                    
Up   10                 
MSFT, ADP, CTAS, CTSH, FB, VRSK, ZS, FAST, PAYX, ABNB                 
                    
Down   1                 
MNST                    
                    

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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)       ...