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                      
                      

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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)       ...