Monday, October 17, 2022

QQQ leading the move to the upside. Healthcare (XLV) moving above 30ds SMA. Market forecast recovering a bit, still under 20

 Futures to Watch - Daily Setups                    
/ES[M22]   $3,699.75 ( 102.25 / +2.84% ) ; Setup:   CHANNEL            
/GC[M22]   $1,656.30 ( 7.4 / +0.45% ) ; Setup:   BEAR             
/NQ[M22]   $11,140.25 ( 396.25 / +3.69% ) ; Setup:   CHANNEL            
/CL[K22]   $85.56 ( -0.05 / -0.06% ) ; Setup:   BF             
                      
                      
                      
SPY Market Forecast   15.52 Defensive pointing up in the lower zone                 
   0.96   PCALL - 10 day SMA (0.75 - 1.00)               
                      
SPY INTERMEDIATE TERM:  Downtrend- Price below 30 &10 Wk SMA                 
  6-months DOWN                   
  10-days SIDEWAYS                   
  3-days UP                   
                      
Indices                      
UP:     QQQ +3.30% ; IWM +3.19% ; SPY +2.57% ; DIA +1.77%          
Down:                         
                      
  TLT -0.49% at 98.09                 
  VIX -2.03% at 31.37                 
                      
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                      
  11 sectors closed higher led by  XLY +4.06%  and  XLRE +3.73%    Lower =  0         
  2            closing above 30d. SMA  and 9   closing below.   
                      
XLY leaders     :    TSLA, CZR, AMZN, ETSY                
XLRE leaders     :    PLD, DLR, MAA, UDR                
XLK leaders     :    XLNX, CDAY, INTU                 
                      
Uptrend  XLE                    
Sideways                      
Downtrend  XLY, XLRE, XLK, XLC, XLF, XLB, XLI, XLU, XLV, XLP                 
                      
                      
Breath:                      
NYSE Strengthened  as  Advancers led  2669   to   550 and  Nasdaq   Strengthened  as  Advancers led 3466   to   1168      
                      
                      
NDX Leaders:                        
96 closing higher  and  6 closing Lower                
MELI : +12.39% ;  TEAM : +8.29% ;  ZS : +7.37%            
                      
DJIA Leaders:                        
29 closing higher  and  1 closing Lower                
JPM : +4.20% ;  MSFT : +3.92% ;  CRM : +3.49%            
                      
SP500 Leaders:                        
477 closing higher  and  24 closing Lower                
CDAY : +8.04% ;  DISH : +7.33% ;  TSLA : +7.01%            
                      
NASDAQ 100                      
                      
Nasdaq Above 30MA    =   23                   
ABNB, NFLX, ADSK, MRNA, ILMN, ADP, VRSN, SBUX, ODFL, DXCM, SIRI, MNST, BIIB, PEP, MU, VRTX, KDP, PCAR, AMGN, ORLY, GILD, REGN, KHC          
                      
Stocks to watch on    Tuesday                   
                      
 Nasdaq100  xsing above30   = 11                  
  ABNB, NFLX, ADSK, ILMN, ADP, VRSN, SBUX, ODFL, MNST, MU, KDP               
                      
 Nasdaq100  xsing below30  = 0                  
                      
                      
                      
MACD Crossover:                      
Up   17                   
NFLX, INTU, NVDA, META, SPLK, IDXX, MSFT, ILMN, ISRG, AMD, FISV, ADP, VRSN, LULU, XEL, VRSK, COST              
                      
Down   0                   
                      
                      

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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)       ...