Monday, December 05, 2022

Pullback in the Indices as they found resistance at the descending diagonal. All sectors closed lower.

 Futures to Watch - Daily Setups                    
/ES[M22]   $4,001.50 ( -74 / -1.82% ) ; Setup:   BF             
/GC[M22]   $1,780.80 ( -28.8 / -1.59% ) ; Setup:   BF             
/NQ[M22]   $11,793.50 ( -216.8 / -1.80% ) ; Setup:   BF             
/CL[K22]   $77.35 ( -2.63 / -3.29% ) ; Setup:   BEAR             
                      
                      
                      
SPY Market Forecast   89.7 Defensive pointing down in the upper zone               
   0.85   PCALL - 10 day SMA (0.75 - 1.00)               
                      
SPY INTERMEDIATE TERM:  Uptrend- Price above 30 &10 Wk SMA                 
  6-months DOWN                   
  10-days UP                   
  3-days DOWN                   
                      
Indices                      
UP:                         
Down:     DIA -1.37% ; QQQ -1.68% ; SPY -1.80% ; IWM -2.75%          
                      
  TLT -1.40% at 105.59                 
  VIX +8.87% at 20.75                 
                      
SPY   : Sideways   above 30ds SMA - above 10ds SMA             
QQQ   : Uptrend   above 30ds SMA - above 10ds SMA             
DIA   : Sideways   above 30ds SMA - above 10ds SMA             
IWM   : Sideways   above 30ds SMA - above 10ds SMA             
                      
                      
Sectors                      
  0 sectors closed higher led by  XLU -0.56%  and  XLV -0.96%    Lower =  11         
  9            closing above 30d. SMA  and 2   closing below.   
                      
XLU leaders     :    EXC, SO, ED, NEE                 
XLV leaders     :    CERN, INCY, CNC                 
XLP leaders     :    CAG, LW, SYY, GIS                 
                      
Uptrend  XLV, XLP, XLI, XLK, XLB, XLF                   
Sideways  XLU, XLC, XLRE, XLY, XLE                   
Downtrend                      
                      
                      
Breath:                      
NYSE Weakened  as  Decliners led  481   to   2691 and  Nasdaq   Weakened   as  Decliners led 1191   to   3469      
                      
                      
NDX Leaders:                        
5 closing higher  and  97 closing Lower                
BIDU : +2.74% ;  PDD : +1.69% ;  JD : +0.92%            
                      
DJIA Leaders:                        
1 closing higher  and  29 closing Lower                
BA : +1.22% ;  MRK : -0.03% ;  JNJ : -0.06%            
                      
SP500 Leaders:                        
30 closing higher  and  469 closing Lower                
CTXS : N/A ;  UAL : +2.60% ;  CME : +2.12%            
                      
NASDAQ 100                      
                      
Nasdaq Above 30MA    =   76                   
                      
                      
Stocks to watch on    Tuesday                   
                      
 Nasdaq100  xsing above30   = 0                  
                      
                      
 Nasdaq100  xsing below30  = 7                  
  AAPL, INTU, FTNT, ALGN, MTCH, MELI, DOCU                 
                      
                      
MACD Crossover:                      
Up   0                   
                      
                      
Down   22                   
AEP, TMUS, MDLZ, PEP, NVDA, QCOM, AVGO, CMCSA, MAR, ADBE, VRSN, ANSS, IDXX, CDNS, FTNT, MRVL, SNPS, ALGN, MTCH, DDOG, ZS, DOCU          
                      

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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)       ...