Mr. Renko: August 2022

Monday, August 29, 2022

SPY Market Forecast continues moving down in the middle zone predicting more bearishness. All indices closed down a little in a pause/range day.

Futures to Watch - Daily Setups
/ES[M22]   $4,036.75 ( 5.5 / +0.14% ) ; Setup: BEAR
/GC[M22]   $1,751.30 ( 1.6 / +0.09% ) ; Setup: BEAR
/NQ[M22]   $12,518.00 ( 25.25 / +0.20% ) ; Setup: BEAR
/CL[K22]   $96.70 ( -0.31 / -0.32% ) ; Setup: HBO



SPY Market Forecast   61.91 Bearish pointing down 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 DOWN
  3-days DOWN

Indices
UP:
Down:     DIA -0.57% ; SPY -0.66% ; IWM -0.92% ; QQQ -0.99%

  TLT -0.83% at 112.68
  VIX +2.54% at 26.21

SPY   : Downtrend   below 30ds SMA - below 10ds SMA
QQQ   : Downtrend   below 30ds SMA - below 10ds SMA
DIA   : Downtrend   below 30ds SMA - below 10ds SMA
IWM   : Downtrend   below 30ds SMA - below 10ds SMA


Sectors
  2 sectors closed higher led by XLE +1.51% and XLU +0.30%    Lower = 9
  2            closing above 30d. SMA and 9   closing below.

XLE leaders     :   FANG, APA, HAL, SLB
XLU leaders     :   AEP, CNP, SRE, EVRG
XLP leaders     :   ADM, GIS, WMT, CPB

Uptrend XLE, XLU
Sideways XLP, XLI, XLY, XLB, XLF
Downtrend XLV, XLC, XLRE, XLK


Breath:
NYSE Weakened as Decliners led 1086   to 2111 and Nasdaq Weakened   as Decliners led 1413   to 2947


NDX Leaders:
18 closing higher and 84 closing Lower
PDD : +14.71% ; ILMN : +2.34% ; SGEN : +1.52%

DJIA Leaders:
5 closing higher and 25 closing Lower
WMT : +0.97% ; CVX : +0.75% ; BA : +0.54%

SP500 Leaders:
136 closing higher and 368 closing Lower
FANG : +3.98% ; CAH : +3.09% ; APA : +2.94%

NASDAQ 100

Nasdaq Above 30MA    =   16
PDD, TMUS, AEP, XEL, KDP, CEG, PYPL, KHC, BIDU, PANW, ROST, ADP, CRWD, JD, TEAM, WDAY

Stocks to watch on    Tuesday

Nasdaq100 xsing above30   = 0


Nasdaq100 xsing below30 = 7
  CSX, HON, CSCO, TSLA, DDOG, AAPL, EA


MACD Crossover:
Up   0


Down   2
MNST, AZN

Friday, August 26, 2022

Market moved lower. SPY Market Forecast continues it retracement in the middle zone. All Indices heavily down led my QQQ, resuming the downtrend. 46 stocks crossing below the 30ds SMA

Futures to Watch - Daily Setups
/ES[M22]   $4,042.75 ( -158.3 / -3.77% ) ; Setup: BEAR
/GC[M22]   $1,750.80 ( -20.6 / -1.16% ) ; Setup: BEAR
/NQ[M22]   $12,559.00 ( -597 / -4.54% ) ; Setup: BEAR
/CL[K22]   $92.97 ( 0.45 / +0.49% ) ; Setup: BF



SPY Market Forecast   67.25 Bearish pointing down in the middle zone
   0.83   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:     QQQ -4.10% ; IWM -3.29% ; SPY -3.38% ; DIA -3.07%

  TLT +0.75% at 113.62
  VIX +17.36% at 25.56

SPY   : Downtrend   below 30ds SMA - below 10ds SMA
QQQ   : Downtrend   below 30ds SMA - below 10ds SMA
DIA   : Downtrend   below 30ds SMA - below 10ds SMA
IWM   : Downtrend   below 30ds SMA - below 10ds SMA


Sectors
  0 sectors closed higher led by XLB -3.06% and XLC -3.19%    Lower = 11
  4            closing above 30d. SMA and 7   closing below.

XLB leaders     :   FCX, WRK, NUE, CF
XLC leaders     :   VIAC, DISCK, DISCA, FB
XLK leaders     :   XLNX, NTAP, MU

Uptrend XLK, XLI, XLY, XLV, XLE, XLU, XLP
Sideways XLB, XLC, XLF, XLRE
Downtrend


Breath:
NYSE Weakened as Decliners led 425   to 2749 and Nasdaq Weakened   as Decliners led 791   to 3611


NDX Leaders:
2 closing higher and 100 closing Lower
PDD : -3.78% ; JD : -2.23% ; BIDU : -2.19%

DJIA Leaders:
0 closing higher and 30 closing Lower
BA : -2.86% ; INTC : -4.39% ; DOW : -2.33%

SP500 Leaders:
5 closing higher and 498 closing Lower
NTAP : -4.58% ; FCX : -3.13% ; DISH : -5.12%

NASDAQ 100

Nasdaq Above 30MA    =   22
EA, WDAY, KHC, AEP, XEL, BIDU, JD, CEG, PANW, KDP, TMUS, CSCO, ADP, DDOG, TEAM, HON, AAPL, PDD, CSX, ROST, CRWD, PYPL

Stocks to watch on    Monday

Nasdaq100 xsing above30   = 1
  EA

Nasdaq100 xsing below30 = 46
  GILD, ORLY, SNPS, NTES, PEP, EXC, PCAR, MDLZ, VRSK, AZN, CPRT, CTAS, FISV, VRTX, COST, ABNB, VRSN, MAR, LULU, INTU, CDNS, SBUX, MSFT, ZS, PAYX, DXCM, TXN, FAST, MELI, NFLX, KLAC, AMZN, BKNG, ODFL, AVGO, GOOGL, GOOG, SWKS, ILMN, ADSK, AMAT, NXPI, AMD, MCHP, MRVL, NVDA


MACD Crossover:
Up   0


Down   1
KHC

Thursday, August 25, 2022

SPY Market Forecast continues bearish and pointing down below 80. All indices moved to the upside and continue moving sideways.

Futures to Watch - Daily Setups
/ES[M22]   $4,194.75 ( -6.25 / -0.15% ) ; Setup: CHANNEL
/GC[M22]   $1,768.70 ( -2.7 / -0.15% ) ; Setup: CHANNEL
/NQ[M22]   $13,138.50 ( -17.5 / -0.13% ) ; Setup: CHANNEL
/CL[K22]   $93.23 ( 0.71 / +0.77% ) ; Setup: CHANNEL



SPY Market Forecast   74.41 Bearish pointing down in the middle zone
   0.81   PCALL - 10 day SMA (0.75 - 1.00)

SPY INTERMEDIATE TERM: Sideways- Price in between 30 &10 Wk SMA
  6-months DOWN
  10-days DOWN
  3-days UP

Indices
UP:     QQQ +1.77% ; IWM +1.55% ; SPY +1.41% ; DIA +1.00%
Down:

  TLT +1.39% at 112.77
  VIX -4.56% at 21.78

SPY   : Sideways   above 30ds SMA - below 10ds SMA
QQQ   : Sideways   above 30ds SMA - below 10ds SMA
DIA   : Sideways   above 30ds SMA - below 10ds SMA
IWM   : Sideways   above 30ds SMA - below 10ds SMA


Sectors
  11 sectors closed higher led by XLB +2.27% and XLC +1.95%    Lower = 0
  9            closing above 30d. SMA and 2   closing below.

XLB leaders     :   FCX, WRK, NUE, CF
XLC leaders     :   VIAC, DISCK, DISCA, FB
XLK leaders     :   XLNX, NTAP, MU

Uptrend XLK, XLI, XLY, XLV, XLE, XLU, XLP
Sideways XLB, XLC, XLF, XLRE
Downtrend


Breath:
NYSE Strengthened as Advancers led 2547   to 660 and Nasdaq Strengthened as Advancers led 3143   to 1365


NDX Leaders:
93 closing higher and 9 closing Lower
PDD : +12.44% ; JD : +9.20% ; BIDU : +8.73%

DJIA Leaders:
28 closing higher and 2 closing Lower
BA : +3.53% ; INTC : +3.04% ; DOW : +2.80%

SP500 Leaders:
468 closing higher and 36 closing Lower
NTAP : +7.88% ; FCX : +6.10% ; DISH : +6.06%

NASDAQ 100

Nasdaq Above 30MA    =   67
PDD, JD, BIDU, MRVL, DDOG, AMD, NTES, CRWD, NVDA, KLAC, SWKS, AVGO, NXPI, AMAT, ODFL, ILMN, PYPL, MCHP, TXN, TEAM, CEG, DXCM, ADSK, GOOG, GOOGL, AMZN, MELI, ABNB, PANW, NFLX, LULU, MAR, SBUX, AAPL, COST, HON, CPRT, SNPS, ZS, WDAY, TMUS, MSFT, CSX, PCAR, FISV, CDNS, CTAS, AZN, XEL, BKNG, ADP, EXC, AEP, VRSN, FAST, CSCO, ROST, ORLY, VRSK, KDP, VRTX, INTU, PEP, GILD, MDLZ, PAYX, KHC

Stocks to watch on    Friday

Nasdaq100 xsing above30   = 16
  JD, MRVL, AMD, NTES, NVDA, KLAC, SWKS, AVGO, NXPI, AMAT, ODFL, MCHP, TXN, GOOG, GOOGL, CPRT

Nasdaq100 xsing below30 = 2
  TSLA, SPLK


MACD Crossover:
Up   1
NTES

Down   0