Tuesday, May 30, 2023

                       
SPY Market Forecast   70.27 Bearish pointing down 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:     QQQ +0.45% ; SPY +0.04% ;               
Down:           DIA -0.11% ; IWM -0.37%          
                      
  TLT +1.00% at 102.1                 
  VIX +0.63% at 17.57                 
                      
                      
Sectors                      
  4 sectors closed higher led by  XLY +0.67%  and  XLK +0.53%    Lower =  7         
  3           sectors closing above 30d. SMA  and 8   closing below.   
                      
XLY leaders     :    F, TSLA, NCLH, KMX                 
XLK leaders     :    ENPH, QCOM, SNPS                 
XLRE leaders     :    0                  
                      
Uptrend  XLY, XLK, XLC, XLV, XLP                   
Sideways  XLRE, XLI, XLU, XLB                   
Downtrend  XLF, XLE                   
                      
                      
Breath:                      
NYSE Weakened  as  Decliners led           1,403    to               1,573  and  Nasdaq   Weakened   as  Decliners led            2,029    to            2,432       
                      
                      
NDX Leaders:                        
47 closing higher  and  55 closing Lower                
QCOM : +5.12% ;  SNPS : +4.52% ;  TSLA : +4.14%            
                      
DJIA Leaders:                        
12 closing higher  and  18 closing Lower                
INTC : +3.41% ;  CRM : +1.59% ;  AAPL : +1.07%            
                      
SP500 Leaders:                        
206 closing higher  and  294 closing Lower                
PARA : +6.37% ;  ENPH : +5.40% ;  QCOM : +5.12%            
                      
NASDAQ 100                      
                      
Nasdaq Above 30MA    =   56                   
QCOM, SNPS, TSLA, NFLX, INTC, ZS, ANSS, NVDA, CRWD, CDNS, MTCH, OKTA, DOCU, ATVI, TEAM, AMZN, FTNT, AAPL, CPRT, VRSK, CSCO, CTAS, DDOG, ODFL, NXPI, ADBE, AMAT, PANW, LRCX, MNST, META, COST, TXN, ISRG, SWKS, CEG, EA, SPLK, FAST, VRSN, MSFT, KLAC, GOOG, CTSH, GOOGL, ZM, ASML, AVGO, AMD, MCHP, BIDU, LCID, MU, MRVL, WDAY, PDD
                      
Stocks to watch on    Wednesday                   
                      
 Nasdaq100  xsing above30   = 4                  
  QCOM, INTC, ATVI, ODFL                   
                      
 Nasdaq100  xsing below30  = 3                  
  ADSK, MELI, NTES                   
                      
                      
MACD Crossover:                      
Up   3                   
INTC, AAPL, ABNB                      
                      
Down   6                   
GOOG, GOOGL, GILD, KDP, ADSK, NTES                    
                      
                      

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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)       ...