Monday, June 05, 2023

SPY Market Forecast is defensive, pointing down in the upper zone; it entered in the supply zone from Aug/22. QQQ closed slightly high. IWM closed down 1.34%.

 SPY Market Forecast   88.68 Defensive pointing down in the upper zone                 
   0.82   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 +0.07% ;                  
Down:        SPY -0.19% ; DIA -0.57% ; IWM -1.34%          
                      
  TLT -0.19% at 101.8                 
  VIX +0.89% at 14.73                 
                      
                      
Sectors                      
  4 sectors closed higher led by  XLU +0.48%  and  XLV +0.36%    Lower =  7         
  7           sectors closing above 30d. SMA  and 4   closing below.   
                      
XLU leaders     :    ED, D, XEL, FE                 
XLV leaders     :    ABMD, CI, OGN                 
XLY leaders     :    BBWI, EXPE, CZR, NCLH                
                      
Uptrend  XLY, XLC, XLK                   
Sideways  XLU, XLV, XLB, XLP, XLRE, XLF, XLE, XLI                  
Downtrend                      
                      
                      
Breath:                      
NYSE Weakened  as  Decliners led           1,039    to               1,909  and  Nasdaq   Weakened   as  Decliners led            1,725    to            2,655       
                      
                      
NDX Leaders:                        
55 closing higher  and  46 closing Lower                
FTNT : +4.61% ;  PANW : +4.40% ;  ZS : +3.97%            
                      
DJIA Leaders:                        
9 closing higher  and  21 closing Lower                
AMGN : +1.75% ;  JNJ : +0.86% ;  WMT : +0.66%            
                      
SP500 Leaders:                        
197 closing higher  and  302 closing Lower                
BBWI : +5.54% ;  FTNT : +4.61% ;  PAYC : +4.30%            
                      
NASDAQ 100                      
                      
Nasdaq Above 30MA    =   67                   
FTNT, PANW, ZS, ZM, INTU, JD, ADSK, EBAY, CRWD, BKNG, DXCM, TSLA, ISRG, DDOG, ILMN, MELI, PAYX, CDNS, GOOG, COST, GOOGL, ALGN, AMZN, VRSK, NFLX, CSX, CTAS, CPRT, ATVI, CSCO, ANSS, SNPS, DOCU, MSFT, AMD, PCAR, MAR, KLAC, WDAY, CEG, ADP, FAST, ASML, TEAM, MNST, NVDA, META, ADBE, EA, MTCH, AMAT, AAPL, HON, BIDU, VRSN, SPLK, AVGO, LRCX, ODFL, ABNB, MU, PDD, SWKS, QCOM, NXPI, TXN, MRVL
                      
Stocks to watch on    Tuesday                   
                      
 Nasdaq100  xsing above30   = 4                  
  EBAY, BKNG, MELI, ALGN                   
                      
 Nasdaq100  xsing below30  = 3                  
  MCHP, CTSH, INTC                   
                      
                      
MACD Crossover:                      
Up   13                   
FTNT, INTU, AMGN, BKNG, ISRG, CHTR, AEP, CSX, SBUX, MAR, FAST, ROST, LULU                 
                      
Down   4                   
CRWD, AMD, LRCX, MCHP                     
                      

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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)       ...