Thursday, June 16, 2022

SPY Market Forecast bearish. SPY, QQQ and IWM new lows. Crude Oil bounced from support. All sectors below 30ds SMA.

 Futures to Watch - Daily Setups                 
/CL[K22]   $114.59 ( 1.5 / +1.33% ) ; Setup:   Support bounce         
/GC[M22]   $1,857.50 ( 37.9 / +2.08% ) ; Setup:   Channel - Support bounce        
/ES[M22]   $3,675.25 ( -118.3 / -3.12% ) ; Setup:   New lows         
/NQ[M22]   $11,189.25 ( -439.8 / -3.78% ) ; Setup:   New lows         
                   
                   
                   
SPY Market Forecast   9.18 Bearish pointing down in the lower zone              
   0.94   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 DOWN                
                   
Indices                   
UP:                      
Down:     DIA -2.39% ; SPY -3.31% ; QQQ -4.03% ; IWM -4.63%       
                   
  TLT +0.79% at 111.72              
  VIX +11.24% at 32.95              
                   
SPY   : bearish   below 30ds SMA            
QQQ   : bearish   below 30ds SMA            
DIA   : bearish   below 30ds SMA            
IWM   : bearish   below 30ds SMA            
                   
                   
Sectors                   
  0 sectors closed higher led by  XLP -0.76%  and  XLV -1.47%    Lower =  11      
  0            closing above 30d. SMA  and 11   closing below.
                   
XLP leaders     :    WMT, CHD, GIS, PG             
XLV leaders     :    ABBV, CI, MRK              
XLU leaders     :    SO, DUK, ED, D              
                   
Uptrend                   
Sideways  XLE                 
Downtrend  XLP, XLV, XLU, XLRE, XLF, XLI, XLB, XLC, XLK, XLY              
                   
                   
Breath:                   
NYSE Weakened  as  Decliners led  334   to   3020 and  Nasdaq   Weakened   as  Decliners led 892   to   3841   
                   
                   
NDX Leaders:                     
3 closing higher  and  98 closing Lower             
AZN : +0.48% ;  CEG : +0.10% ;  MNST : +0.02%         
                   
DJIA Leaders:                     
4 closing higher  and  26 closing Lower             
WMT : +1.04% ;  PG : +0.61% ;  MRK : +0.31%         
                   
SP500 Leaders:                     
13 closing higher  and  483 closing Lower             
VIAC : N/A ;  DISCK : N/A ;  XLNX : N/A         
                   
NASDAQ 100                   
                   
Nasdaq Above 30MA    =   6                
MNST, SGEN, PDD, JD, BIDU, ZM                 
                   
Stocks to watch on    Friday                
                   
 Nasdaq100  xsing above30   = 0               
                   
                   
 Nasdaq100  xsing below30  = 6               
  DLTR, CRWD, SNPS, PCAR, MTCH, NTES               
                   
                   
MACD Crossover:                   
Up   0                
                   
                   
Down   2                
PDD, TSLA                   
                   

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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)       ...