Thursday, June 08, 2023

QQQ, SPY and DIA closed higher. IWM closed slightly lower. Consumer Disc led the sectors followed by Technology. TSLA led XLY

 SPY Market Forecast   93.42 Bullish pointing up in the upper zone                 
   0.77   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 +1.24% ; SPY +0.60% ; DIA +0.49% ;            
Down:              IWM -0.37%          
                      
  TLT +1.17% at 102.06                 
  VIX -2.08% at 13.65                 
                      
                      
Sectors                      
  7 sectors closed higher led by  XLY +1.48%  and  XLK +1.08%    Lower =  4         
  8           sectors closing above 30d. SMA  and 3   closing below.   
                      
XLY leaders     :    TSLA, ORLY, AMZN, AZO                
XLK leaders     :    ADBE, ANET, FTNT                 
XLP leaders     :    SJM, COST, CPB, WMT                
                      
Uptrend  XLY, XLK, XLC                   
Sideways  XLP, XLV, XLU, XLI, XLF, XLB, XLE, XLRE                  
Downtrend                      
                      
                      
Breath:                      
NYSE Weakened  as  Decliners led           1,421    to               1,515  and  Nasdaq   Strengthened  as  Decliners led            2,306    to            2,174       
                      
                      
NDX Leaders:                        
76 closing higher  and  25 closing Lower                
ADBE : +4.95% ;  TSLA : +4.58% ;  PDD : +3.35%            
                      
DJIA Leaders:                        
16 closing higher  and  14 closing Lower                
BA : +2.92% ;  CRM : +1.85% ;  INTC : +1.73%            
                      
SP500 Leaders:                        
254 closing higher  and  245 closing Lower                
WBD : +6.86% ;  ADBE : +4.95% ;  TSLA : +4.58%            
                      
NASDAQ 100                      
                      
Nasdaq Above 30MA    =   73                   
ADBE, TSLA, PDD, PANW, FTNT, NVDA, AMD, ZS, DDOG, CDNS, AMZN, NFLX, DOCU, KLAC, COST, INTC, ALGN, CEG, AAPL, AVGO, CRWD, ASML, BIIB, AZN, CTAS, EBAY, DXCM, ISRG, ANSS, QCOM, FAST, AMAT, NTES, JD, ADI, MAR, EA, PCAR, MRVL, VRSK, LRCX, CPRT, MSFT, SNPS, NXPI, SIRI, WDAY, BIDU, SPLK, META, ZM, CMCSA, ODFL, SWKS, ILMN, TXN, BKNG, CSX, HON, CSCO, GOOG, WBA, GOOGL, MCHP, CTSH, ADSK, TEAM, ADP, ATVI, MTCH, PAYX
                      
Stocks to watch on    Friday                   
                      
 Nasdaq100  xsing above30   = 4                  
  BIIB, AZN, FAST, ADI                   
                      
 Nasdaq100  xsing below30  = 0                  
                      
                      
                      
MACD Crossover:                      
Up   1                   
VRTX                      
                      
Down   9                   
AMZN, AVGO, ANSS, MRVL, ZM, CSCO, ADSK, MRNA, TEAM                   
                      

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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)       ...