Thursday, February 23, 2023

Breath Strengthened for NYSE and Nasdaq. Range day and SPY bounced off ascending trendline. SPY Market Forecast intermediate is defensive in the middle zone pointing down.

 SPY Market Forecast   56.08 Defensive pointing down in the middle zone               
   0.93   PCALL - 10 day SMA (0.75 - 1.00)               
                      
SPY INTERMEDIATE TERM:  Uptrend- Price above 30 &10 Wk SMA                 
  6-months SIDEWAYS                   
  10-days DOWN                   
  3-days DOWN                   
                      
Indices                      
UP:     QQQ +0.87% ; IWM +0.71% ; SPY +0.53% ; DIA +0.35%          
Down:                         
                      
  TLT +0.98% at 102.3                 
  VIX -5.16% at 21.14                 
                      
                      
Sectors                      
  7 sectors closed higher led by  XLK +1.66%  and  XLE +1.51%    Lower =  4         
  1           sectors closing above 30d. SMA  and 10   closing below.   
                      
XLK leaders     :    NVDA, ANSS, AMD                 
XLE leaders     :    CTRA, APA, FANG, DVN                
XLRE leaders     :    IRM, EXR, SBAC, DLR                 
                      
Uptrend  XLK, XLRE, XLI, XLB, XLF, XLY, XLC                  
Sideways  XLE, XLV, XLP, XLU                   
Downtrend                      
                      
                      
Breath:                      
NYSE Strengthened  as  Advancers led           2,020    to               1,026  and  Nasdaq   Strengthened  as  Advancers led            2,608    to            1,901       
                      
                      
NDX Leaders:                        
62 closing higher  and  39 closing Lower                
NVDA : +14.02% ;  ANSS : +10.48% ;  MRVL : +5.31%            
                      
DJIA Leaders:                        
20 closing higher  and  10 closing Lower                
MSFT : +1.30% ;  MRK : +1.31% ;  BA : +1.15%            
                      
SP500 Leaders:                        
310 closing higher  and  190 closing Lower                
NVDA : +14.02% ;  ANSS : +10.48% ;  PWR : +7.56%            
                      
NASDAQ 100                      
                      
Nasdaq Above 30MA    =   47                   
NVDA, ANSS, MELI, REGN, SNPS, INTU, ADSK, FISV, ODFL, MSFT, AMD, WDAY, ALGN, CDNS, MRVL, SWKS, ADI, MCHP, SGEN, MAR, ZS, LULU, TSLA, ZM, TEAM, PANW, DOCU, META, OKTA, SPLK, AAPL, FTNT, MNST, PCAR, KDP, CPRT, DXCM, PEP, ATVI, CSCO, MDLZ, CRWD, FAST, BKNG, DDOG, ORLY, ABNB
                      
Stocks to watch on    Friday                   
                      
 Nasdaq100  xsing above30   = 8                  
  MELI, INTU, AMD, MRVL, ZM, DOCU, OKTA, MNST                 
                      
 Nasdaq100  xsing below30  = 3                  
  LCID, AZN, TMUS                   
                      
                      
MACD Crossover:                      
Up   1                   
ANSS                      
                      
Down   2                   
ABNB, TMUS                      
                      
                      

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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)       ...