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                      
                      
                      

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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)       ...