Thursday, June 29, 2023

SPY Market Forecast bullish. Financials, Basic Materials and Energy led the sectors. Breath strengthened.

 SPY Market Forecast   74.68 Bullish pointing up in the middle zone                 
   0.75   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 +1.15% ; DIA +0.75% ; SPY +0.39% ;            
Down:              QQQ -0.20%          
                      
  TLT -1.80% at 101.74                 
  VIX +0.82% at 13.54                 
                      
                      
Sectors                      
  8 sectors closed higher led by  XLF +1.74%  and  XLB +1.26%    Lower =  2         
  9           sectors closing above 30d. SMA  and 2   closing below.   
                      
XLF leaders     :    SIVB, FRC, SBNY, WFC                 
XLB leaders     :    CF, MOS, SHW, PKG                 
XLE leaders     :    EQT, CTRA, MRO, APA                
                      
Uptrend  XLK, XLY, XLC                   
Sideways  XLF, XLB, XLE, XLI, XLRE, XLV, XLU, XLP                  
Downtrend                      
                      
                      
Breath:                      
NYSE Strengthened  as  Advancers led           2,018    to                   938  and  Nasdaq   Strengthened  as  Advancers led            2,661    to            1,808       
                      
                      
NDX Leaders:                        
50 closing higher  and  50 closing Lower                
LCID : +7.17% ;  PCAR : +2.39% ;  MAR : +2.03%            
                      
DJIA Leaders:                        
22 closing higher  and  8 closing Lower                
JPM : +3.49% ;  GS : +3.01% ;  V : +2.79%            
                      
SP500 Leaders:                        
389 closing higher  and  108 closing Lower                
CTLT : +6.72% ;  WFC : +4.51% ;  TECH : +4.28%            
                      
NASDAQ 100                      
                      
Nasdaq Above 30MA    =   70                   
RIVN, LCID, PCAR, MAR, HON, WDAY, CTSH, AVGO, ISRG, ODFL, SIRI, MCHP, DXCM, NXPI, FANG, TXN, FTNT, CHTR, CSGP, CSX, FAST, BKR, CSCO, IDXX, CPRT, KLAC, ANSS, ZS, TSLA, ROST, QCOM, TMUS, ADP, CEG, ADBE, GFS, AAPL, CTAS, AMAT, EXC, VRSK, ORLY, PANW, ADSK, ASML, EA, COST, ADI, MSFT, WBD, PYPL, LRCX, CDNS, NFLX, BKNG, CMCSA, EBAY, ATVI, NVDA, VRTX, INTU, AMZN, ALGN, META, DLTR, LULU, DDOG, INTC, ABNB, MRVL
                      
Stocks to watch on    Friday                   
                      
 Nasdaq100  xsing above30   = 3                  
  LCID, FANG, ADP                   
                      
 Nasdaq100  xsing below30  = 3                  
  PAYX, ZM, PDD                   
                      
                      
MACD Crossover:                      
Up   6                   
RIVN, MAR, CTSH, MCHP, TXN, MRNA                    
                      
Down   2                   
EXC, PANW                      
                      

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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)       ...