Friday, June 09, 2023

SPY in a tight range today. Doji just below resistance in the upper side of the supply zone. MFC Intermediate line became defensive pointing down in the upper zone. Consumer Discretionary continues to lead.

 SPY Market Forecast   92.59 Defensive pointing down 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 +0.38% ; SPY +0.18% ; DIA +0.14% ;            
Down:              IWM -0.81%          
                      
  TLT -0.14% at 101.92                 
  VIX +1.32% at 13.83                 
                      
                      
Sectors                      
  5 sectors closed higher led by  XLY +0.52%  and  XLK +0.50%    Lower =  6         
  8           sectors closing above 30d. SMA  and 3   closing below.   
                      
XLY leaders     :    ETSY, TSLA, CCL, EXPE                 
XLK leaders     :    GLW, ADBE, AMD                 
XLV leaders     :    ABMD, PKI, DXCM                 
                      
Uptrend  XLY, XLK, XLC                   
Sideways  XLV, XLF, XLP, XLI, XLRE, XLE, XLU, XLB                  
Downtrend                      
                      
                      
Breath:                      
NYSE Weakened  as  Decliners led           1,113    to               1,813  and  Nasdaq   Weakened   as  Decliners led            1,533    to            2,842       
                      
                      
NDX Leaders:                        
47 closing higher  and  53 closing Lower                
MTCH : +6.50% ;  TSLA : +4.06% ;  ADBE : +3.41%            
                      
DJIA Leaders:                        
17 closing higher  and  13 closing Lower                
CRM : +2.76% ;  UNH : +0.69% ;  IBM : +0.66%            
                      
SP500 Leaders:                        
219 closing higher  and  277 closing Lower                
MTCH : +6.50% ;  ETSY : +4.20% ;  TSLA : +4.06%            
                      
NASDAQ 100                      
                      
Nasdaq Above 30MA    =   68                   
TSLA, ADBE, AMD, ANSS, DXCM, NFLX, QCOM, ABNB, INTU, PDD, ZS, CEG, SGEN, TEAM, NVDA, PAYX, ISRG, ADSK, ZM, FAST, CDNS, MRVL, MSFT, ATVI, EBAY, ADI, MAR, SNPS, AAPL, MU, GOOG, PCAR, META, GOOGL, AVGO, GFS, ADP, BIIB, CSCO, WDAY, AMAT, HON, VRSK, AZN, DDOG, COST, CTAS, ASML, CMCSA, AMZN, ALGN, CSX, FANG, MCHP, TXN, CPRT, CRWD, PANW, RIVN, WBD, LRCX, NXPI, FTNT, INTC, KLAC, JD, SIRI, ENPH
                      
Stocks to watch on    Monday                   
                      
 Nasdaq100  xsing above30   = 3                  
  INTU, SGEN, BIIB                   
                      
 Nasdaq100  xsing below30  = 6                  
  CTSH, EA, ILMN, WBA, BKNG, ODFL                  
                      
                      
MACD Crossover:                      
Up   2                   
ANSS, FI                      
                      
Down   2                   
GEHC, EA                      
                      

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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)       ...