Wednesday, June 01, 2022

SPY is in a downtrend crossing below 30ds SMA, while SPY Market Forecast is bullish. All sectors down with the exception of Energy(XLE)

 Futures to Watch - Daily Setups                    
/CL[K22]   $114.80 ( 0.13 / +0.11% ) ; Setup:   Failed HBO / Channel           
/GC[M22]   $1,849.80 ( 1.4 / +0.08% ) ; Setup:   Channel            
/ES[M22]   $4,096.50 ( -34.75 / -0.84% ) ; Setup:   Bear Flag Triggered            
/NQ[M22]   $12,536.00 ( -110.5 / -0.87% ) ; Setup:   Bear Flag            
                      
                      
                      
SPY Market Forecast   39.66 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 SIDEWAYS                   
                      
Indices                      
UP:                         
Down:     DIA -0.56% ; IWM -0.57% ; QQQ -0.74% ; SPY -0.81%          
                      
  TLT -0.29% at 116.22                 
  VIX -1.91% at 25.69                 
                      
SPY   : Bearish   Crossing below 30ds SMA              
QQQ   : Bearish   below 30ds SMA               
DIA   : Bearish   Crossing below 30ds SMA              
IWM   : Bearish   above 30ds SMA               
                      
                      
Sectors                      
  1 sectors closed higher led by  XLE +1.63%  and  XLU -0.16%    Lower =  10         
  5            closing above 30d. SMA  and 6   closing below.   
                      
XLE leaders     :    BKR, HES, COP, CTRA                
XLU leaders     :    NEE, AWK, EVRG, ATO                
XLK leaders     :    XLNX, CRM, HPQ                 
                      
Uptrend  XLE                    
Sideways  XLU, XLB                   
Downtrend  XLK, XLI, XLY, XLRE, XLC, XLP, XLV, XLF                  
                      
                      
Breath:                      
NYSE Weakened  as  Decliners led  1343   to   1976 and  Nasdaq   Weakened   as  Decliners led 1636   to   3111      
                      
                      
NDX Leaders:                        
25 closing higher  and  76 closing Lower                
CEG : +2.53% ;  DDOG : +2.21% ;  PCAR : +1.96%            
                      
DJIA Leaders:                        
8 closing higher  and  22 closing Lower                
CRM : +9.88% ;  CVX : +0.95% ;  CAT : +0.80%            
                      
SP500 Leaders:                        
92 closing higher  and  404 closing Lower                
VIAC : N/A ;  DISCK : N/A ;  XLNX : N/A            
                      
NASDAQ 100                      
                      
Nasdaq Above 30MA    =   55                   
CEG, PCAR, AMZN, TMUS, BIDU, EA, MTCH, DLTR, ADBE, VRTX, MSFT, ZM, EXC, AEP, GILD, ADSK, BKNG, XEL, CDNS, MU, AZN, MAR, JD, AMD, SNPS, CMCSA, FISV, SGEN, AVGO, MNST, AMGN, TXN, MRNA, SIRI, INTU, ADP, FTNT, MRVL, NVDA, CTAS, MCHP, DOCU, KLAC, ADI, ASML, QCOM, CHTR, NFLX, AMAT, PDD, NXPI, LRCX, SBUX, NTES, LCID
                      
Stocks to watch on    Thursday                   
                      
 Nasdaq100  xsing above30   = 1                  
  AMZN                    
                      
 Nasdaq100  xsing below30  = 6                  
  ATVI, INTC, WBA, CPRT, SWKS, PYPL                  
                      
                      
MACD Crossover:                      
Up   0                   
                      
                      
Down   3                   
XEL, SGEN, 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)       ...