Thursday, June 02, 2022

Nice move to the upside in SPY supported by Market Forecast moving higher. Intermediate trend still down. QQQ moved up 2.74% and sectors were led by Consumer Discr (XLY)

Futures to Watch - Daily Setups                    
/CL[K22]   $117.70 ( 2.44 / +2.12% ) ; Setup:   Bull Flag            
/GC[M22]   $1,873.90 ( 25.2 / +1.36% ) ; Setup:   HBO             
/ES[M22]   $4,172.75 ( 73.75 / +1.80% ) ; Setup:   Bull Flag            
/NQ[M22]   $12,878.50 ( 327.5 / +2.61% ) ; Setup:   Bull Flag            
                      
                      
                      
SPY Market Forecast   45.4 Bullish pointing up in the middle zone                 
   0.85   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:     QQQ +2.74% ; IWM +2.44% ; SPY +1.90% ; DIA +1.34%          
Down:                         
                      
  TLT +0.05% at 116.28                 
  VIX -4.09% at 24.64                 
                      
SPY   : Bullish    Crossing above 30ds SMA              
QQQ   : Bullish    Crossing above 30ds SMA              
DIA   : Bullish    Crossing above 30ds SMA              
IWM   : Bullish    above 30ds SMA               
                      
                      
Sectors                      
  10 sectors closed higher led by  XLY +3.06%  and  XLB +2.76%    Lower =  1         
  9            closing above 30d. SMA  and 2   closing below.   
                      
XLY leaders     :    ETSY, UA, UAA, EXPE                
XLB leaders     :    ECL, FCX, ALB, LIN                 
XLC leaders     :    VIAC, DISCK, DISCA, NFLX                
                      
Uptrend  XLE                    
Sideways  XLB, XLU                   
Downtrend  XLY, XLC, XLK, XLI, XLRE, XLP, XLF, XLV                  
                      
                      
Breath:                      
NYSE Strengthened  as  Advancers led  2492   to   803 and  Nasdaq   Strengthened  as  Advancers led 3530   to   1191      
                      
                      
NDX Leaders:                        
93 closing higher  and  9 closing Lower                
DDOG : +12.90% ;  OKTA : +10.96% ;  DXCM : +9.86%            
                      
DJIA Leaders:                        
23 closing higher  and  7 closing Lower                
BA : +7.54% ;  CRM : +7.00% ;  NKE : +3.99%            
                      
SP500 Leaders:                        
431 closing higher  and  65 closing Lower                
VIAC : N/A ;  DISCK : N/A ;  XLNX : N/A            
                      
NASDAQ 100                      
                      
Nasdaq Above 30MA    =   73                   
DDOG, CRWD, PDD, AMD, PYPL, NVDA, DOCU, NFLX, MTCH, BKNG, MRVL, SPLK, ADBE, FB, CDNS, FTNT, ANSS, INTU, QCOM, SNPS, ZM, KLAC, SBUX, JD, NTES, LRCX, BIDU, VRSN, CPRT, SWKS, GOOGL, ADSK, GOOG, AMZN, PANW, MCHP, PAYX, ASML, ADI, HON, MNST, AMAT, MU, LCID, FAST, MAR, ADP, CTAS, NXPI, FISV, INTC, ORLY, EA, TXN, AZN, ATVI, TMUS, MSFT, SGEN, CHTR, AVGO, XEL, SIRI, PCAR, VRTX, AEP, CEG, CMCSA, EXC, DLTR, GILD, AMGN, MRNA
                      
Stocks to watch on    Friday                   
                      
 Nasdaq100  xsing above30   = 19                  
  DDOG, CRWD, PYPL, SPLK, FB, ANSS, ODFL, VRSN, CPRT, SWKS, GOOGL, GOOG, PANW, PAYX, HON, FAST, INTC, ORLY, ATVI         
                      
 Nasdaq100  xsing below30  = 0                  
                      
                      
                      
MACD Crossover:                      
Up   2                   
MNST, KDP                      
                      
Down   2                   
GILD, REGN                      
                      
                      

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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)       ...