Tuesday, February 28, 2023

Breath weakened. Market Forecast Intermediate line is bearish. Only 33 stocks in Nasdaq closed above 30ds SMA.

 SPY Market Forecast   35.05 Bearish pointing down in the middle zone                 
   0.9   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:     IWM +0.01% ;                  
Down:        QQQ -0.13% ; SPY -0.37% ; DIA -0.76%          
                      
  TLT +0.45% at 101.71                 
  VIX -1.19% at 20.7                 
                      
                      
Sectors                      
  4 sectors closed higher led by  XLB +0.45%  and  XLF +0.20%    Lower =  7         
  0           sectors closing above 30d. SMA  and 11   closing below.   
                      
XLB leaders     :    FCX, NUE, LIN, CF                 
XLF leaders     :    AJG, PGR, LNC, ACGL                 
XLC leaders     :    META, LYV, GOOG, GOOGL                
                      
Uptrend                      
Sideways  XLB, XLF, XLC, XLRE, XLY, XLK, XLI, XLV, XLP, XLE, XLU                
Downtrend                      
                      
                      
Breath:                      
NYSE Weakened  as  Decliners led           1,452    to               1,565  and  Nasdaq   Strengthened  as  Decliners led            2,248    to            2,223       
                      
                      
NDX Leaders:                        
46 closing higher  and  56 closing Lower                
LCID : +4.22% ;  AMAT : +3.64% ;  META : +3.19%            
                      
DJIA Leaders:                        
11 closing higher  and  19 closing Lower                
JPM : +0.84% ;  BA : +0.54% ;  WMT : +0.49%            
                      
SP500 Leaders:                        
201 closing higher  and  299 closing Lower                
XRAY : +10.19% ;  ASTC : +5.63% ;  EW : +4.01%            
                      
NASDAQ 100                      
                      
Nasdaq Above 30MA    =   33                   
AMAT, META, MELI, ANSS, DOCU, MRVL, ALGN, AVGO, SGEN, CPRT, SPLK, MCHP, DXCM, REGN, FISV, WDAY, ADI, BKNG, SNPS, CRWD, FAST, PANW, CDNS, ABNB, FTNT, AAPL, ZS, CSCO, ATVI, TSLA, NVDA, PEP, ORLY   
                      
Stocks to watch on    Wednesday                   
                      
 Nasdaq100  xsing above30   = 3                  
  AMAT, DOCU, AVGO                   
                      
 Nasdaq100  xsing below30  = 5                  
  AMD, MDLZ, ODFL, INTU, KDP                  
                      
                      
MACD Crossover:                      
Up   2                   
REGN, BKNG                      
                      
Down   5                   
ATVI, PEP, KHC, KDP, AEP                     
                      

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