Wednesday, June 07, 2023

SPY Opened higher than the high and closed just above the previous day low; while market forecast intermediate is bullish. Energy and Real Estate led the sectors. Breath strengthened.

 SPY Market Forecast   92.65 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 DOWN                   
                      
Indices                      
UP:     IWM +1.87% ; DIA +0.30% ;               
Down:           SPY -0.35% ; QQQ -1.70%          
                      
  TLT -1.48% at 100.88                 
  VIX -0.14% at 13.94                 
                      
                      
Sectors                      
  6 sectors closed higher led by  XLE +2.65%  and  XLRE +1.84%    Lower =  5         
  8           sectors closing above 30d. SMA  and 3   closing below.   
                      
XLE leaders     :    MRO, MPC, PSX, HAL                 
XLRE leaders     :   VNO, BXP, FRT, EXR                  
XLU leaders     :    NRG, EIX, D, AEE                 
                      
Uptrend  XLY, XLC, XLK                   
Sideways  XLE, XLRE, XLU, XLI, XLB, XLF, XLP, XLV                  
Downtrend                      
                      
                      
Breath:                      
NYSE Strengthened  as  Advancers led           1,924    to               1,036  and  Nasdaq   Strengthened  as  Advancers led            2,422    to            1,958       
                      
                      
NDX Leaders:                        
31 closing higher  and  70 closing Lower                
MCHP : +4.50% ;  SIRI : +3.49% ;  NXPI : +2.86%            
                      
DJIA Leaders:                        
20 closing higher  and  10 closing Lower                
CAT : +3.91% ;  MMM : +2.76% ;  GS : +2.74%            
                      
SP500 Leaders:                        
343 closing higher  and  156 closing Lower                
PKI : N/A ;  WBD : +8.43% ;  WHR : +6.37%            
                      
NASDAQ 100                      
                      
Nasdaq Above 30MA    =   69                   
MCHP, SIRI, NXPI, ODFL, CMCSA, PCAR, CSX, TSLA, CEG, SWKS, WBA, HON, INTC, TXN, AMAT, CTSH, KLAC, PAYX, AVGO, MRVL, NFLX, NTES, CSCO, ADP, LRCX, EBAY, ILMN, PDD, ATVI, ABNB, EA, MU, AAPL, ASML, ALGN, COST, MTCH, QCOM, VRSK, CTAS, SNPS, MAR, JD, CPRT, BKNG, CRWD, ISRG, CDNS, META, NVDA, MSFT, DOCU, ADSK, ADBE, BIDU, FTNT, PANW, GOOGL, GOOG, ANSS, AMZN, ZM, DXCM, SPLK, AMD, ZS, WDAY, TEAM, DDOG
                      
Stocks to watch on    Thursday                   
                      
 Nasdaq100  xsing above30   = 3                  
  ODFL, CMCSA, WBA                   
                      
 Nasdaq100  xsing below30  = 3                  
  VRSN, MNST, INTU                   
                      
                      
MACD Crossover:                      
Up   4                   
CMCSA, BIIB, ADI, XEL                      
                      
Down   10                   
SNPS, ISRG, CDNS, META, NVDA, MSFT, FTNT, SPLK, WDAY, DDOG                  
                      
                      

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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)       ...