Tuesday, May 16, 2023

SPY Market Forecast is bearish, pointing down in the middle zone. IWM closed lower 1.46%. Breath weakened. Consumer Staples (XLP) crossing below 30ds SMA.

 SPY Market Forecast   65.34 Bearish pointing down in the middle zone                 
   0.9   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 SIDEWAYS                   
                      
Indices                      
UP:     QQQ +0.11% ;                  
Down:        SPY -0.67% ; DIA -1.02% ; IWM -1.46%          
                      
  TLT -0.30% at 102.88                 
  VIX +5.08% at 17.99                 
                      
                      
Sectors                      
  1 sectors closed higher led by  XLK +0.11%  and  XLC -0.12%    Lower =  10         
  3           sectors closing above 30d. SMA  and 8   closing below.   
                      
XLK leaders     :    AMD, IT, LRCX                 
XLC leaders     :    GOOG, GOOGL, LUMN, IPG                
XLY leaders     :    AMZN, DHI, PHM, DRI                 
                      
Uptrend  XLK, XLC, XLV, XLP                   
Sideways  XLY, XLF, XLI, XLB, XLU, XLE, XLRE                  
Downtrend                      
                      
                      
Breath:                      
NYSE Weakened  as  Decliners led              609    to               2,380  and  Nasdaq   Weakened   as  Decliners led            1,288    to            3,101       
                      
                      
NDX Leaders:                        
22 closing higher  and  79 closing Lower                
AMD : +4.19% ;  BIDU : +3.97% ;  GOOG : +2.68%            
                      
DJIA Leaders:                        
3 closing higher  and  26 closing Lower                
MSFT : +0.74% ;  CRM : +0.60% ;  IBM : +0.08%            
                      
SP500 Leaders:                        
58 closing higher  and  442 closing Lower                
AMD : +4.19% ;  GEHC : +3.80% ;  GOOG : +2.68%            
                      
NASDAQ 100                      
                      
Nasdaq Above 30MA    =   49                   
AMD, BIDU, GOOG, GOOGL, AMZN, VRSK, LRCX, KLAC, NVDA, MSFT, JD, SNPS, IDXX, AZN, MNST, AVGO, MDLZ, BKNG, AAPL, META, ZM, AMAT, DLTR, NTES, OKTA, FTNT, PEP, ISRG, DDOG, CPRT, MAR, ASML, NFLX, CTAS, VRSN, PANW, ORLY, FISV, MRVL, VRTX, CSX, CRWD, CMCSA, CTSH, BIIB, MU, CEG, MELI, ZS
                      
Stocks to watch on    Wednesday                   
                      
 Nasdaq100  xsing above30   = 2                  
  BIDU, SNPS                   
                      
 Nasdaq100  xsing below30  = 9                  
  SPLK, DXCM, FAST, LULU, COST, ADSK, KHC, PCAR, EBAY                
                      
                      
MACD Crossover:                      
Up   2                   
ANSS, NTES                      
                      
Down   4                   
CSX, COST, KDP, PAYX                      
                      

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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)       ...