Wednesday, March 08, 2023

 SPY Market Forecast   38.09 Bullish pointing up in the lower zone                 
   0.98   PCALL - 10 day SMA (0.75 - 1.00)               
                      
SPY INTERMEDIATE TERM:  Uptrend- Price above 30 &10 Wk SMA                 
  6-months SIDEWAYS                   
  10-days SIDEWAYS                   
  3-days DOWN                   
                      
Indices                      
UP:     QQQ +0.50% ; SPY +0.16% ; IWM +0.04% ;            
Down:              DIA -0.12%          
                      
  TLT +0.10% at 101.82                 
  VIX -2.45% at 19.11                 
                      
                      
Sectors                      
  7 sectors closed higher led by  XLRE +1.41%  and  XLK +0.83%    Lower =  4         
  2           sectors closing above 30d. SMA  and 9   closing below.   
                      
XLRE leaders     :    CCI, DLR, KIM, MAA                 
XLK leaders     :    ON, AMD, ANET                 
XLU leaders     :    PNW, NI, CMS, FE                 
                      
Uptrend                      
Sideways  XLRE, XLK, XLU, XLB, XLI, XLP, XLC, XLY, XLF, XLV, XLE                
Downtrend                      
                      
                      
Breath:                      
NYSE Strengthened  as  Advancers led           1,573    to               1,456  and  Nasdaq   Weakened   as  Advancers led            2,191    to            2,380       
                      
                      
NDX Leaders:                        
66 closing higher  and  36 closing Lower                
MRVL : +4.98% ;  AMD : +3.97% ;  NVDA : +3.83%            
                      
DJIA Leaders:                        
13 closing higher  and  17 closing Lower                
INTC : +1.76% ;  CAT : +1.05% ;  HD : +1.00%            
                      
SP500 Leaders:                        
288 closing higher  and  213 closing Lower                
ON : +5.59% ;  AMD : +3.97% ;  ANET : +3.87%            
                      
NASDAQ 100                      
                      
Nasdaq Above 30MA    =   36                   
NVDA, SNPS, INTU, AVGO, TXN, CRWD, BKNG, CDNS, AMD, SWKS, MCHP, AMAT, ORLY, ADI, FTNT, TEAM, ANSS, AAPL, PANW, CPRT, DOCU, VRSK, ODFL, OKTA, META, FAST, ATVI, CSCO, PCAR, MNST, FISV, DXCM, SGEN, ABNB, ALGN, MELI
                      
Stocks to watch on    Thursday                   
                      
 Nasdaq100  xsing above30   = 4                  
  SNPS, INTU, TXN, SWKS                   
                      
 Nasdaq100  xsing below30  = 2                  
  WDAY, REGN                   
                      
                      
MACD Crossover:                      
Up   4                   
IDXX, MCHP, AMZN, EXC                     
                      
Down   7                   
SIRI, BIDU, ROST, DXCM, SGEN, VRTX, REGN                   
                      

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