Monday, March 06, 2023

Market Forecast Intermediate line is bullish. XLK and XLU led the sectors. Breath weakened for NYSE and Nasdaq.

                       
SPY Market Forecast   39.06 Bullish pointing up in the lower zone                 
   0.95   PCALL - 10 day SMA (0.75 - 1.00)               
                      
SPY INTERMEDIATE TERM:  Uptrend- Price above 30 &10 Wk SMA                 
  6-months SIDEWAYS                   
  10-days UP                   
  3-days UP                   
                      
Indices                      
UP:     DIA +0.14% ; QQQ +0.11% ; SPY +0.07% ;            
Down:              IWM -1.46%          
                      
  TLT -0.78% at 101.1                 
  VIX +0.65% at 18.61                 
                      
                      
Sectors                      
  5 sectors closed higher led by  XLK +0.48%  and  XLU +0.48%    Lower =  5         
  3           sectors closing above 30d. SMA  and 8   closing below.   
                      
XLK leaders     :    ENPH, IT, JNPR                 
XLU leaders     :    PCG, NRG, EIX, ED                 
XLP leaders     :    MNST, COST, KO, MO                 
                      
Uptrend                      
Sideways  XLK, XLU, XLP, XLF, XLE, XLC, XLV, XLI, XLRE, XLY, XLB                
Downtrend                      
                      
                      
Breath:                      
NYSE Weakened  as  Decliners led           1,072    to               1,978  and  Nasdaq   Weakened   as  Decliners led            1,576    to            2,986       
                      
                      
NDX Leaders:                        
48 closing higher  and  54 closing Lower                
SPLK : +2.52% ;  MELI : +2.41% ;  MNST : +1.93%            
                      
DJIA Leaders:                        
13 closing higher  and  17 closing Lower                
MRK : +3.95% ;  AAPL : +1.85% ;  KO : +1.55%            
                      
SP500 Leaders:                        
177 closing higher  and  325 closing Lower                
LUMN : +4.10% ;  MRK : +3.95% ;  DPZ : +3.79%            
                      
NASDAQ 100                      
                      
Nasdaq Above 30MA    =   45                   
SPLK, MELI, MNST, AAPL, CRWD, MAR, FTNT, CTAS, MSFT, ABNB, CDNS, VRSK, ALGN, SNPS, ATVI, CSCO, EXC, PEP, ORLY, REGN, PCAR, AVGO, MDLZ, FISV, META, BKNG, AMAT, ADI, AMD, ANSS, ODFL, FAST, MCHP, TEAM, CPRT, NVDA, WDAY, DOCU, OKTA, PANW, TSLA, SGEN, ILMN, BIDU, DXCM
                      
Stocks to watch on    Tuesday                   
                      
 Nasdaq100  xsing above30   = 3                  
  SPLK, MNST, EXC                   
                      
 Nasdaq100  xsing below30  = 5                  
  IDXX, SWKS, PDD, DLTR, LULU                  
                      
                      
MACD Crossover:                      
Up   17                   
MNST, ADBE, MRNA, SBUX, ALGN, SNPS, AEP, BIIB, ROST, META, IDXX, VRSN, AMD, KLAC, ODFL, TEAM, WDAY              
                      
Down   2                   
CPRT, PANW                      
                      
                      

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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)       ...