Monday, May 22, 2023

SPY Market Forecast crossing to the upper zone and it is Bullish. Range day in a Bull Flag / Doji formation. Communications (XLC) led the sectors and IWM led the Indices.

                       
SPY Market Forecast   80.64 Bullish pointing up in the upper 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:     IWM +1.22% ; QQQ +0.34% ; SPY +0.04% ;            
Down:              DIA -0.39%          
                      
  TLT -0.36% at 100.74                 
  VIX +2.38% at 17.21                 
                      
                      
Sectors                      
  6 sectors closed higher led by  XLC +0.91%  and  XLRE +0.66%    Lower =  5         
  5           sectors closing above 30d. SMA  and 6   closing below.   
                      
XLC leaders     :    MTCH, GOOG, GOOGL, TMUS                
XLRE leaders     :    0                  
XLK leaders     :    EPAM, GEN, MPWR                 
                      
Uptrend  XLC, XLK, XLV, XLY, XLP                   
Sideways  XLRE, XLU, XLI, XLB                   
Downtrend  XLF, XLE                   
                      
                      
Breath:                      
NYSE Strengthened  as  Advancers led           1,788    to               1,190  and  Nasdaq   Strengthened  as  Advancers led            2,785    to            1,638       
                      
                      
NDX Leaders:                        
61 closing higher  and  40 closing Lower                
TEAM : +7.75% ;  MTCH : +6.72% ;  LCID : +6.55%            
                      
DJIA Leaders:                        
9 closing higher  and  21 closing Lower                
MMM : +2.71% ;  AXP : +1.67% ;  INTC : +1.17%            
                      
SP500 Leaders:                        
286 closing higher  and  214 closing Lower                
MTCH : +6.72% ;  EPAM : +6.53% ;  PFE : +5.38%            
                      
NASDAQ 100                      
                      
Nasdaq Above 30MA    =   66                   
TEAM, MTCH, LCID, TSLA, DOCU, OKTA, ZM, ZS, MELI, MRVL, GOOG, AMD, SPLK, DDOG, GOOGL, CRWD, PANW, INTU, PAYX, MCHP, CTSH, CEG, NXPI, BIDU, ADSK, META, CPRT, MSFT, FAST, ASML, VRSN, TXN, ADI, WDAY, CTAS, ADBE, ADP, CMCSA, ISRG, FISV, DLTR, ROST, FTNT, HON, NVDA, AMAT, IDXX, VRTX, AAPL, BIIB, AVGO, CSCO, NFLX, LRCX, KLAC, MNST, AMZN, CSX, MDLZ, SNPS, VRSK, MAR, CDNS, BKNG, ORLY, MU
                      
Stocks to watch on    Tuesday                   
                      
 Nasdaq100  xsing above30   = 6                  
  TEAM, MTCH, LCID, PANW, PAYX, BIDU                  
                      
 Nasdaq100  xsing below30  = 2                  
  AZN, PEP                   
                      
                      
MACD Crossover:                      
Up   3                   
ALGN, ODFL, CMCSA                      
                      
Down   3                   
AAPL, CSX, MAR                      
                      
                      
 

No comments:

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)       ...