Friday, May 19, 2023

MFC Market Forecast is bullish; first day of Bull Flag - All indices closed lower. Breath weakened.

                       
SPY Market Forecast   76.27 Bullish pointing up in the middle zone                 
   0.86   PCALL - 10 day SMA (0.75 - 1.00)               
                      
SPY INTERMEDIATE TERM:  Uptrend- Price above 30 &10 Wk SMA                 
  6-months UP                   
  10-days UP                   
  3-days UP                   
                      
Indices                      
UP:                         
Down:     SPY -0.15% ; QQQ -0.23% ; DIA -0.34% ; IWM -0.61%          
                      
  TLT -0.71% at 101.1                 
  VIX +4.74% at 16.81                 
                      
                      
Sectors                      
  4 sectors closed higher led by  XLE +0.77%  and  XLV +0.47%    Lower =  7         
  5           sectors closing above 30d. SMA  and 6   closing below.   
                      
XLE leaders     :    PXD, EOG, APA, DVN                 
XLV leaders     :    ABMD, CTLT, IQV                 
XLB leaders     :    CTVA, APD, LYB, LIN                 
                      
Uptrend  XLV, XLP, XLK, XLC                   
Sideways  XLE, XLB, XLU, XLRE, XLI, XLF, XLY                  
Downtrend                      
                      
                      
Breath:                      
NYSE Weakened  as  Decliners led           1,164    to               1,774  and  Nasdaq   Weakened   as  Decliners led            1,989    to            2,363       
                      
                      
NDX Leaders:                        
35 closing higher  and  67 closing Lower                
ADBE : +3.00% ;  FTNT : +2.19% ;  CRWD : +2.02%            
                      
DJIA Leaders:                        
13 closing higher  and  17 closing Lower                
CSCO : +1.93% ;  MRK : +1.31% ;  IBM : +0.88%            
                      
SP500 Leaders:                        
198 closing higher  and  300 closing Lower                
CTLT : +15.65% ;  EPAM : +3.94% ;  ADBE : +3.00%            
                      
NASDAQ 100                      
                      
Nasdaq Above 30MA    =   62                   
ADBE, FTNT, CRWD, CSCO, TSLA, MRVL, ORLY, OKTA, CEG, DOCU, ZS, BIIB, MU, AZN, VRSK, VRTX, VRSN, AVGO, ISRG, ADP, TXN, PEP, AAPL, WDAY, MSFT, GOOGL, CDNS, CPRT, GOOG, ZM, CSX, MDLZ, ASML, MNST, SNPS, CMCSA, INTU, CTAS, DLTR, NXPI, FAST, HON, META, SPLK, FISV, MCHP, BKNG, ROST, IDXX, ADI, CTSH, KLAC, NVDA, MAR, NFLX, AMZN, MELI, LRCX, ADSK, AMD, AMAT, DDOG
                      
Stocks to watch on    Monday                   
                      
 Nasdaq100  xsing above30   = 0                  
                      
                      
 Nasdaq100  xsing below30  = 3                  
  COST, PAYX, LULU                   
                      
                      
MACD Crossover:                      
Up   6                   
INTC, MRNA, AAPL, KDP, FAST, HON                    
                      
Down   2                   
CTAS, 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)       ...