Friday, February 24, 2023

 SPY Market Forecast   47.04 Defensive pointing down in the middle zone               
   0.91   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:                         
Down:     IWM -0.94% ; SPY -1.07% ; DIA -1.07% ; QQQ -1.67%          
                      
  TLT -1.30% at 100.97                 
  VIX +2.51% at 21.67                 
                      
                      
Sectors                      
  3 sectors closed higher led by  XLB +0.67%  and  XLF +0.08%    Lower =  8         
  0           sectors closing above 30d. SMA  and 11   closing below.   
                      
XLB leaders     :    LIN, CE, LYB, PPG                 
XLF leaders     :    SCHW, ZION, MET, RE                 
XLU leaders     :    EIX, PCG, PEG, FE                 
                      
Uptrend                      
Sideways  XLB, XLF, XLU, XLE, XLI, XLP, XLV, XLC, XLY, XLK, XLRE                
Downtrend                      
                      
                      
Breath:                      
NYSE Weakened  as  Decliners led              878    to               2,169  and  Nasdaq   Weakened   as  Decliners led            1,137    to            3,389       
                      
                      
NDX Leaders:                        
7 closing higher  and  94 closing Lower                
INTU : +1.93% ;  DLTR : +1.87% ;  MELI : +1.81%            
                      
DJIA Leaders:                        
6 closing higher  and  24 closing Lower                
DOW : +1.05% ;  JPM : +0.90% ;  VZ : +0.55%            
                      
SP500 Leaders:                        
110 closing higher  and  391 closing Lower                
EQT : +6.89% ;  LIN : +4.75% ;  EIX : +4.21%            
                      
NASDAQ 100                      
                      
Nasdaq Above 30MA    =   33                   
BKNG, MELI, INTU, ALGN, CRWD, FAST, ATVI, KDP, PEP, CPRT, CSCO, SGEN, SWKS, PCAR, MRVL, META, FTNT, DXCM, SPLK, FISV, PANW, ZS, REGN, AAPL, ADI, ABNB, CDNS, SNPS, ANSS, NVDA, WDAY, TSLA, ORLY    
                      
Stocks to watch on    Monday                   
                      
 Nasdaq100  xsing above30   = 0                  
                      
                      
 Nasdaq100  xsing below30  = 14                  
  MDLZ, ZM, OKTA, MNST, MCHP, MAR, AMD, DDOG, DOCU, MSFT, ODFL, TEAM, LULU, ADSK             
                      
                      
MACD Crossover:                      
Up   0                   
                      
                      
Down   3                   
AZN, ORLY, LULU                      
                      

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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)       ...