Friday, June 03, 2022

All indices closing lower led by QQQ -2.6% maintaining a sideways move for the last 4 days of the week. Only Energy sector (XLE) closed higher helped by a strong increase in price of Crude Oil.

 Futures to Watch - Daily Setups                 
/CL[K22]   $120.47 ( 1.6 / +1.35% ) ; Setup:   HBO          
/GC[M22]   $1,855.70 ( 5.5 / +0.30% ) ; Setup:   Channel         
/ES[M22]   $4,112.50 ( 5.5 / +0.13% ) ; Setup:   Channel         
/NQ[M22]   $12,564.50 ( 13.5 / +0.11% ) ; Setup:   Channel         
                   
                   
                   
SPY Market Forecast   46.92 Bullish pointing up in the middle zone              
   0.84   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 SIDEWAYS                
                   
Indices                   
UP:                      
Down:     IWM -0.90% ; DIA -1.03% ; SPY -1.64% ; QQQ -2.60%       
                   
  TLT -0.21% at 116.03              
  VIX +0.28% at 24.79              
                   
SPY   : Sideways   above 30ds SMA            
QQQ   : Sideways   Crossing below 30ds SMA           
DIA   : Sideways   above 30ds SMA            
IWM   : Sideways   above 30ds SMA            
                   
                   
Sectors                   
  1 sectors closed higher led by  XLE +1.32%  and  XLI -0.39%    Lower =  10      
  7            closing above 30d. SMA  and 4   closing below.
                   
XLE leaders     :    COP, SLB, BKR, HAL             
XLI leaders     :    PWR, NOC, ALK, CAT             
XLU leaders     :    NEE, AWK, NI, EVRG             
                   
Uptrend  XLE                 
Sideways  XLU, XLB                
Downtrend  XLI, XLP, XLV, XLRE, XLF, XLC, XLK, XLY               
                   
                   
Breath:                   
NYSE Weakened  as  Decliners led  908   to   2354 and  Nasdaq   Weakened   as  Decliners led 1695   to   2972   
                   
                   
NDX Leaders:                     
9 closing higher  and  93 closing Lower             
OKTA : +5.02% ;  SGEN : +3.51% ;  CEG : +2.23%         
                   
DJIA Leaders:                     
4 closing higher  and  26 closing Lower             
CAT : +1.32% ;  CVX : +0.91% ;  IBM : +0.73%         
                   
SP500 Leaders:                     
70 closing higher  and  426 closing Lower             
VIAC : N/A ;  DISCK : N/A ;  XLNX : N/A         
                   
NASDAQ 100                   
                   
Nasdaq Above 30MA    =   73                
SGEN, CEG, TMUS, DLTR, ODFL, MAR, AMGN, GILD, PAYX, VRTX, AEP, EA, ORLY, ATVI, SBUX, EXC, CTAS, PCAR, XEL, SNPS, SIRI, HON, FISV, CPRT, FAST, ADP, CHTR, VRSN, BKNG, MSFT, MNST, CDNS, LRCX, NTES, AZN, BIDU, CMCSA, AMAT, PYPL, AMD, FTNT, MTCH, ADI, TXN, KLAC, ZM, AMZN, JD, ADBE, GOOGL, ADSK, MCHP, ASML, NXPI, NFLX, PDD, QCOM, MRVL, INTU, DDOG, DOCU, NVDA, LCID, PCAR, VRTX, AEP, CEG, CMCSA, EXC, DLTR, GILD, AMGN, MRNA
                   
Stocks to watch on    Monday                
                   
 Nasdaq100  xsing above30   = 0               
                   
                   
 Nasdaq100  xsing below30  = 11               
  PANW, MRNA, AVGO, SPLK, GOOG, ANSS, INTC, SWKS, FB, CRWD, MU            
                   
                   
MACD Crossover:                   
Up   0                
                   
                   
Down   3                
AMGN, PEP, NXPI                   
                   

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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)       ...