Wednesday, May 24, 2023

SPY Market Forecast is bearish, pointing down in the middle zone; crossed below 30 ds SMA and MACD crossing below the Zero Line.

 SPY Market Forecast   75.63 Bearish pointing down in the middle zone                 
   0.87   PCALL - 10 day SMA (0.75 - 1.00)               
                      
SPY INTERMEDIATE TERM:  Uptrend Price above 30 &10 Wk SMA                 
  6-months UP                   
  10-days SIDEWAYS                   
  3-days DOWN                   
                      
Indices                      
UP:                         
Down:     QQQ -0.51% ; SPY -0.71% ; DIA -0.79% ; IWM -1.06%          
                      
  TLT -0.49% at 100.53                 
  VIX +8.26% at 20.06                 
                      
                      
Sectors                      
  1 sectors closed higher led by  XLE +0.44%  and  XLY -0.37%    Lower =  10         
  3           sectors closing above 30d. SMA  and 8   closing below.   
                      
XLE leaders     :    VLO, EQT, MRO, APA                 
XLY leaders     :    ORLY, AMZN, DPZ, LEN                
XLC leaders     :    NFLX, META, EA, TTWO                
                      
Uptrend  XLY, XLC, XLP, XLV, XLK                   
Sideways  XLU, XLB, XLI, XLRE                   
Downtrend  XLE, XLF                   
                      
                      
Breath:                      
NYSE Weakened  as  Decliners led              689    to               2,255  and  Nasdaq   Weakened   as  Decliners led            1,352    to            3,117       
                      
                      
NDX Leaders:                        
27 closing higher  and  74 closing Lower                
PANW : +7.68% ;  ILMN : +4.05% ;  CRWD : +3.68%            
                      
DJIA Leaders:                        
5 closing higher  and  25 closing Lower                
CRM : +1.17% ;  UNH : +0.29% ;  MRK : +0.29%            
                      
SP500 Leaders:                        
79 closing higher  and  421 closing Lower                
ILMN : +4.05% ;  NFLX : +2.49% ;  GLW : +2.47%            
                      
NASDAQ 100                      
                      
Nasdaq Above 30MA    =   47                   
PANW, ILMN, CRWD, NFLX, ORLY, WDAY, ZS, AMZN, OKTA, META, MU, TEAM, SNPS, VRSK, DDOG, CTAS, ISRG, SPLK, AAPL, AMD, ADSK, CPRT, MDLZ, VRSN, MSFT, PAYX, NVDA, DLTR, MNST, LCID, CEG, CMCSA, AVGO, CSCO, CTSH, ADBE, MRVL, LRCX, GOOG, GOOGL, KLAC, TSLA, DOCU, MTCH, ASML, FTNT, AMAT
                      
Stocks to watch on    Thursday                   
                      
 Nasdaq100  xsing above30   = 4                  
  PANW, ILMN, ORLY, CTAS                   
                      
 Nasdaq100  xsing below30  = 11                  
  BIIB, ADP, FAST, TXN, CSX, MRNA, ZM, NXPI, MCHP, INTU, ADI               
                      
                      
MACD Crossover:                      
Up   2                   
PANW, SGEN                      
                      
Down   8                   
BKNG, ALGN, CTSH, MELI, BIDU, FTNT, ZM, ADI                   

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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)       ...