Tuesday, June 14, 2022

SPY Market Forecast is bearish. Indices below 30ds SMA. All sectors below 30ds SMA as well.

                     
Futures to Watch - Daily Setups                  
/CL[K22]   $119.07 ( -1.86 / -1.54% ) ; Setup:   Channel          
/GC[M22]   $1,809.80 ( -22 / -1.20% ) ; Setup:   Bearsh HBO          
/ES[M22]   $3,742.50 ( -11 / -0.29% ) ; Setup:   New Lows          
/NQ[M22]   $11,361.50 ( 34 / +0.30% ) ; Setup:   Bear Flag          
                    
                    
                    
SPY Market Forecast   26.48 Bearish pointing down in the middle zone             
   0.9   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:     QQQ +0.18% ;                
Down:        SPY -0.30% ; DIA -0.42% ; IWM -0.48%        
                    
  TLT -1.26% at 108.81               
  VIX -3.91% at 32.69               
                    
SPY   : bearish   below 30ds SMA             
QQQ   : bearish   below 30ds SMA             
DIA   : bearish   below 30ds SMA             
IWM   : bearish   below 30ds SMA             
                    
                    
Sectors                    
  2 sectors closed higher led by  XLK +0.63%  and  XLE +0.19%    Lower =  9       
  0            closing above 30d. SMA  and 11   closing below.
                    
XLK leaders     :    XLNX, ORCL, MPWR              
XLE leaders     :    OXY, PSX, DVN, VLO              
XLY leaders     :    LVS, F, GM, MGM               
                    
Uptrend  XLE                  
Sideways  XLB, XLU                 
Downtrend  XLK, XLY, XLI, XLC, XLRE, XLF, XLV, XLP                
                    
                    
Breath:                    
NYSE Weakened  as  Decliners led  1242   to   2076 and  Nasdaq   Weakened   as  Decliners led 2029   to   2751    
                    
                    
NDX Leaders:                      
47 closing higher  and  53 closing Lower              
PDD : +11.96% ;  BIDU : +6.76% ;  JD : +6.08%          
                    
DJIA Leaders:                      
11 closing higher  and  19 closing Lower              
BA : +5.44% ;  MSFT : +0.92% ;  AAPL : +0.67%          
                    
SP500 Leaders:                      
177 closing higher  and  317 closing Lower              
VIAC : N/A ;  DISCK : N/A ;  XLNX : N/A          
                    
NASDAQ 100                    
                    
Nasdaq Above 30MA    =   8                 
BIDU, DLTR, JD, MNST, NTES, PDD, SGEN, ZM                 
                    
Stocks to watch on    Wednesday                 
                    
 Nasdaq100  xsing above30   = 1                
  MNST                  
                    
 Nasdaq100  xsing below30  = 0                
                    
                    
                    

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