Wednesday, May 17, 2023

All indices closed up led by IWM. VIX down 6.23% to 16.87. Breath strengthened. Market Forecast Intermediate line back to bullish.

 SPY Market Forecast   65.89 Bullish pointing up in the middle zone                 
   0.89   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:     IWM +2.23% ; DIA +1.29% ; QQQ +1.21% ; SPY +1.21%          
Down:                         
                      
  TLT -0.29% at 102.58                 
  VIX -6.23% at 16.87                 
                      
                      
Sectors                      
  9 sectors closed higher led by  XLY +2.08%  and  XLF +2.01%    Lower =  2         
  3           sectors closing above 30d. SMA  and 8   closing below.   
                      
XLY leaders     :    CCL, NCLH, WYNN, CZR                
XLF leaders     :    SIVB, CMA, SBNY, ZION                
XLE leaders     :    HAL, MPC, DVN, MRO                 
                      
Uptrend  XLK, XLC, XLV, XLP                   
Sideways  XLY, XLF, XLE, XLI, XLRE, XLB, XLU                  
Downtrend                      
                      
                      
Breath:                      
NYSE Strengthened  as  Advancers led           2,308    to                   670  and  Nasdaq   Strengthened  as  Advancers led            3,229    to            1,287       
                      
                      
NDX Leaders:                        
78 closing higher  and  24 closing Lower                
SPLK : +5.75% ;  MRVL : +4.61% ;  TSLA : +4.41%            
                      
DJIA Leaders:                        
22 closing higher  and  8 closing Lower                
HD : +3.56% ;  JPM : +3.07% ;  BA : +2.99%            
                      
SP500 Leaders:                        
384 closing higher  and  116 closing Lower                
CMA : +12.33% ;  ZION : +10.14% ;  KEY : +8.64%            
                      
NASDAQ 100                      
                      
Nasdaq Above 30MA    =   58                   
SPLK, MRVL, TSLA, DOCU, AMAT, DDOG, MELI, MCHP, NVDA, NXPI, OKTA, ASML, ADI, ZM, LRCX, ADSK, AVGO, CRWD, HON, AMD, KLAC, BKNG, MU, NFLX, AMZN, CEG, WDAY, META, MAR, CMCSA, CTSH, GOOG, GOOGL, FAST, CPRT, CSX, FISV, MSFT, ISRG, SNPS, VRSK, AAPL, ZS, ORLY, FTNT, DLTR, PANW, CTAS, VRSN, BIIB, MNST, PEP, MDLZ, AZN, IDXX, VRTX, JD, BIDU
                      
Stocks to watch on    Thursday                   
                      
 Nasdaq100  xsing above30   = 10                  
  SPLK, TSLA, DOCU, MCHP, NXPI, ADI, ADSK, HON, WDAY, FAST               
                      
 Nasdaq100  xsing below30  = 1                  
  NTES                    
                      
                      
MACD Crossover:                      
Up   5                   
ADBE, INTU, WBA, BKNG, PAYX                     
                      
Down   3                   
MRNA, CTAS, MNST                      
                      

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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)       ...