Tuesday, May 31, 2022

Mixed signals. SPY Market Forecast is bullish, while is still in a downtrend in the weekly chart. IWM down 1.24%. All indices lower with the exception of XLY.

 Futures to Watch - Daily Setups                
/CL[K22]   $115.30 ( 0.23 / +0.20% ) ; Setup:   topping tail.         
/GC[M22]   $1,840.20 ( -17.1 / -0.92% ) ; Setup:   Bear Flag        
/ES[M22]   $4,131.50 ( -24.25 / -0.58% ) ; Setup:   Bear Flag        
/NQ[M22]   $12,652.25 ( -25.5 / -0.20% ) ; Setup:   Bear Flag        
                  
                  
                  
SPY Market Forecast   35.14 Bullish pointing up in the middle zone             
   0.87   PCALL - 10 day SMA (0.75 - 1.00)           
                  
SPY INTERMEDIATE TERM:  Downtrend- Price below 30 &10 Wk SMA             
  6-months DOWN               
  10-days UP               
  3-days UP               
                  
Indices                  
UP:                     
Down:     QQQ -0.27% ; SPY -0.56% ; DIA -0.56% ; IWM -1.24%      
                  
  TLT -2.12% at 116.56             
  VIX -1.32% at 26.19             
                  
SPY   : Bullish    Above 30ds SMA           
QQQ   : Bearish   below 30ds SMA           
DIA   : Bullish    above 30ds SMA           
IWM   : Bullish    above 30ds SMA           
                  
                  
Sectors                  
  1 sectors closed higher led by  XLY +0.51%  and  XLC -0.07%    Lower =  10     
  7            closing above 30d. SMA  and 4   closing below.
                  
XLY leaders     :    AMZN, UA, HAS, NKE            
XLC leaders     :    VIAC, DISCK, DISCA, DISH            
XLF leaders     :    PBCT, SYF, SBNY, CFG            
                  
Uptrend  XLE                
Sideways  XLU, XLB               
Downtrend  XLY, XLC, XLF, XLK, XLP, XLI, XLV, XLRE              
                  
                  
Breath:                  
NYSE Weakened  as  Decliners led  1165   to   2158 and  Nasdaq   Weakened   as  Decliners led 1917   to   2834  
                  
                  
NDX Leaders:                    
23 closing higher  and  77 closing Lower            
JD : +4.55% ;  AMZN : +4.40% ;  PDD : +4.24%        
                  
DJIA Leaders:                    
9 closing higher  and  21 closing Lower            
NKE : +2.47% ;  DIS : +1.02% ;  JPM : +0.73%        
                  
SP500 Leaders:                    
105 closing higher  and  389 closing Lower            
VIAC : N/A ;  DISCK : N/A ;  XLNX : N/A        
                  
NASDAQ 100                  
                  
Nasdaq Above 30MA    =   60               
JD, PDD, QCOM, SBUX, LCID, PCAR, NFLX, BIDU, MU, AMGN, ADI, CTAS, SIRI, WBA, CMCSA, SWKS, EA, GILD, PYPL, MCHP, NTES, INTC, AMD, ATVI, MSFT, AVGO, MAR, CHTR, TMUS, MNST, TXN, NVDA, ADP, BKNG, SNPS, FISV, ASML, FTNT, XEL, MTCH, AZN, EXC, AEP, MRNA, CDNS, ADSK, KLAC, AMAT, CPRT, VRTX, INTU, LRCX, ZM, DOCU, ADBE, MRVL, DLTR, NXPI, SGEN, CEG
                  
Stocks to watch on    Wednesday               
                  
 Nasdaq100  xsing above30   = 2              
  NFLX, SWKS               
                  
 Nasdaq100  xsing below30  = 7              
  FAST, HON, ORLY, ANSS, PEP, BIIB, REGN             
                  
                  
MACD Crossover:                  
Up   1               
MDLZ                  
                  
Down   1               
KDP                  
                  

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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)       ...