Monday, June 12, 2023

Bullish tone continues. SPY crosses resistance and moves closer to the upper side of the ascending channel. Technology and Consumer Discretionary led the sectors. SPY Market Forecast intermediate line is bullish.

 SPY Market Forecast   94.48 Bullish pointing up in the upper zone                 
   0.76   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 +1.69% ; SPY +0.91% ; DIA +0.56% ; IWM +0.42%          
Down:                         
                      
  TLT +0.29% at 102.22                 
  VIX +8.53% at 15.01                 
                      
                      
Sectors                      
  6 sectors closed higher led by  XLK +2.17%  and  XLY +1.72%    Lower =  5         
  8           sectors closing above 30d. SMA  and 3   closing below.   
                      
XLK leaders     :    AVGO, ORCL, INTC                 
XLY leaders     :    CCL, NCLH, AAP, MGM                
XLC leaders     :    PARA, META, CHTR, LYV                
                      
Uptrend  XLK, XLY, XLC                   
Sideways  XLI, XLB, XLV, XLF, XLP, XLRE, XLU, XLE                  
Downtrend                      
                      
                      
Breath:                      
NYSE Strengthened  as  Advancers led           1,523    to               1,436  and  Nasdaq   Strengthened  as  Advancers led            2,676    to            1,837       
                      
                      
NDX Leaders:                        
81 closing higher  and  20 closing Lower                
AVGO : +6.31% ;  ABNB : +5.71% ;  INTC : +5.52%            
                      
DJIA Leaders:                        
20 closing higher  and  10 closing Lower                
INTC : +5.52% ;  BA : +1.96% ;  CSCO : +1.65%            
                      
SP500 Leaders:                        
331 closing higher  and  169 closing Lower                
CCL : +12.45% ;  CTLT : +10.23% ;  NCLH : +7.22%            
                      
NASDAQ 100                      
                      
Nasdaq Above 30MA    =   75                   
AVGO, LRCX, ADBE, INTU, ASML, KLAC, PANW, LULU, ILMN, REGN, SNPS, NVDA, ALGN, ABNB, ADSK, VRTX, META, TSLA, WDAY, ADI, ZS, MSFT, BIIB, ANSS, NXPI, AMD, CTAS, NFLX, CDNS, AMAT, TEAM, COST, TXN, ADP, AMZN, ROST, QCOM, GFS, MCHP, AAPL, DXCM, ENPH, DDOG, MRVL, ZM, MU, MAR, FTNT, INTC, CRWD, GOOG, GOOGL, PAYX, CTSH, CPRT, PCAR, ISRG, CSCO, HON, CSGP, SGEN, CEG, CMCSA, FAST, WBA, RIVN, WBD, JD, CSX, PDD, SIRI
                      
Stocks to watch on    Tuesday                   
                      
 Nasdaq100  xsing above30   = 7                  
  LULU, ILMN, REGN, VRTX, ROST, CTSH, WBA                 
                      
 Nasdaq100  xsing below30  = 2                  
  AZN, FANG                   
                      
                      
MACD Crossover:                      
Up   7                   
AVGO, ADSK, ORLY, DLTR, ZM, FAST, PEP                   
                      
Down   1                   
ODFL                      

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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)       ...