Tuesday, June 06, 2023

Financials and Consumer Discresionary led the sectors. QQQ in a tight range day. Breath Strengthened. SPY Market Forecast short-term Bullish in a supply zone.

 SPY Market Forecast   90 Bullish pointing up in the upper zone                 
   0.8   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 +2.63% ; SPY +0.22% ; DIA +0.01% ;            
Down:              QQQ -0.02%          
                      
  TLT +0.59% at 102.4                 
  VIX -5.23% at 13.96                 
                      
                      
Sectors                      
  7 sectors closed higher led by  XLF +1.26%  and  XLY +1.04%    Lower =  4         
  8           sectors closing above 30d. SMA  and 3   closing below.   
                      
XLF leaders     :    SIVB, FRC, CMA, FITB                 
XLY leaders     :    VFC, ETSY, KMX, EXPE                 
XLE leaders     :    EQT, BKR, CTRA, VLO                 
                      
Uptrend  XLY, XLC, XLK                   
Sideways  XLF, XLE, XLB, XLI, XLRE, XLU, XLP, XLV                  
Downtrend                      
                      
                      
Breath:                      
NYSE Strengthened  as  Advancers led           1,984    to                   999  and  Nasdaq   Strengthened  as  Advancers led            3,235    to            1,254       
                      
                      
NDX Leaders:                        
50 closing higher  and  52 closing Lower                
PDD : +6.98% ;  NTES : +5.36% ;  AMD : +5.34%            
                      
DJIA Leaders:                        
17 closing higher  and  13 closing Lower                
INTC : +3.68% ;  AXP : +2.62% ;  DOW : +2.12%            
                      
SP500 Leaders:                        
330 closing higher  and  169 closing Lower                
PKI : N/A ;  CMA : +7.14% ;  VFC : +6.53%            
                      
NASDAQ 100                      
                      
Nasdaq Above 30MA    =   69                   
PDD, NTES, AMD, JD, BIDU, INTC, SIRI, ZS, QCOM, MCHP, DOCU, NXPI, MTCH, CEG, MAR, MRVL, PCAR, TSLA, SPLK, DDOG, CTSH, BKNG, ABNB, INTU, LRCX, AMZN, GOOGL, GOOG, SWKS, WDAY, ZM, KLAC, DXCM, TEAM, ADP, AMAT, EA, CTAS, TXN, ATVI, META, ANSS, ALGN, ADSK, AAPL, PAYX, EBAY, VRSN, ADBE, MU, COST, HON, CPRT, ISRG, CSX, MSFT, CRWD, ASML, CSCO, VRSK, PANW, NFLX, NVDA, SNPS, CDNS, AVGO, MNST, FTNT, ILMN
                      
Stocks to watch on    Wednesday                   
                      
 Nasdaq100  xsing above30   = 5                  
  NTES, INTC, SIRI, MCHP, CTSH                  
                      
 Nasdaq100  xsing below30  = 3                  
  ODFL, FAST, MELI                   
                      
                      
MACD Crossover:                      
Up   3                   
MCHP, DDOG, AZN                      
                      
Down   4                   
AMAT, TXN, ASML, FAST                     
                      

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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)       ...