Friday, June 02, 2023

SPY Strong move to the upside entering a supply zone and resistance at 431.56. SPY Market forecast is bullish, pointing up in the upper zone.

 SPY Market Forecast   89.74 Bullish pointing up 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:     IWM +3.63% ; DIA +2.15% ; SPY +1.45% ; QQQ +0.75%          
Down:                         
                      
  TLT -1.10% at 101.99                 
  VIX -6.71% at 14.6                 
                      
                      
Sectors                      
  11 sectors closed higher led by  XLB +3.35%  and  XLE +3.04%    Lower =  0         
  7           sectors closing above 30d. SMA  and 4   closing below.   
                      
XLB leaders     :    CE, DD, ALB, NUE                 
XLE leaders     :    HAL, APA, PSX, EQT                 
XLI leaders     :    MMM, CAT, SWK, URI                 
                      
Uptrend  XLY, XLK, XLC                   
Sideways  XLB, XLE, XLI, XLF, XLRE, XLP, XLV, XLU                  
Downtrend                      
                      
                      
Breath:                      
NYSE Strengthened  as  Advancers led           2,542    to                   451  and  Nasdaq   Strengthened  as  Advancers led            3,340    to            1,186       
                      
                      
NDX Leaders:                        
74 closing higher  and  27 closing Lower                
LULU : +11.30% ;  ZS : +5.40% ;  ABNB : +5.26%            
                      
DJIA Leaders:                        
29 closing higher  and  1 closing Lower                
MMM : +8.75% ;  CAT : +8.40% ;  DOW : +5.33%            
                      
SP500 Leaders:                        
460 closing higher  and  38 closing Lower                
DISH : +16.24% ;  MMM : +8.75% ;  CAT : +8.40%            
                      
NASDAQ 100                      
                      
Nasdaq Above 30MA    =   66                   
ZS, ABNB, PCAR, ILMN, DDOG, TEAM, MAR, TSLA, PAYX, AVGO, FAST, JD, HON, CTSH, DXCM, MTCH, ADBE, ADP, BIDU, INTU, CSX, VRSN, KLAC, AMZN, CTAS, MSFT, GOOGL, MCHP, GOOG, PDD, VRSK, ODFL, INTC, CSCO, ANSS, ISRG, AAPL, DOCU, ADSK, ATVI, NXPI, CPRT, PANW, MNST, MU, META, COST, EA, SPLK, AMAT, QCOM, ASML, TXN, NFLX, SWKS, FTNT, WDAY, LRCX, ZM, NVDA, SNPS, CDNS, AMD, MRVL, CEG, CRWD
                      
Stocks to watch on    Monday                   
                      
 Nasdaq100  xsing above30   = 10                  
  ABNB, PCAR, ILMN, MAR, PAYX, FAST, JD, HON, ADP, INTU                
                      
 Nasdaq100  xsing below30  = 1                  
  SIRI                    
                      
                      
MACD Crossover:                      
Up   9                   
PCAR, ILMN, PAYX, EBAY, JD, HON, ADP, GILD, NTES                   
                      
Down   1                   
MU                      
                      

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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)       ...