Monday, July 03, 2023

Fourth of July Market is closed. SPY Market Forecast intermediate is bullish, back in the upper reversal zone. MACD histogram turned green Stochastics turned green on Friday. Breath strengthened. Seems that SPY wants to visit the 450 - 460 resistance supply area.

 SPY Market Forecast   84.11 Bullish pointing up in the upper 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:     QQQ +0.24% ; IWM +0.20% ; SPY +0.12% ; DIA +0.06%          
Down:                         
                      
  TLT -0.84% at 102.08                 
  VIX +0.81% at 13.7                 
                      
                      
Sectors                      
  9 sectors closed higher led by  XLY +1.21%  and  XLRE +0.80%    Lower =  2         
  11           sectors closing above 30d. SMA  and 0   closing below.   
                      
XLY leaders     :    TSLA, EXPE, NWL, DLTR                
XLRE leaders     :    PK, HST, VNO, PEAK                 
XLP leaders     :    WBA, SJM, CPB, K                 
                      
Uptrend  XLY, XLB, XLC, XLI, XLK                   
Sideways  XLRE, XLP, XLU, XLF, XLE, XLV                  
Downtrend                      
                      
                      
Breath:                      
NYSE Strengthened  as  Advancers led           2,028    to                   888  and  Nasdaq   Strengthened  as  Advancers led            2,610    to            1,712       
                      
                      
NDX Leaders:                        
59 closing higher  and  42 closing Lower                
LCID : +7.26% ;  TSLA : +6.90% ;  BIDU : +4.69%            
                      
DJIA Leaders:                        
18 closing higher  and  12 closing Lower                
WBA : +1.86% ;  DIS : +1.37% ;  AMGN : +1.35%            
                      
SP500 Leaders:                        
318 closing higher  and  180 closing Lower                
TSLA : +6.90% ;  FIS : +6.03% ;  ZION : +4.77%            
                      
NASDAQ 100                      
                      
Nasdaq Above 30MA    =   78                   
RIVN, LCID, TSLA, WBD, ABNB, PDD, DLTR, MRVL, SIRI, PYPL, AMGN, AEP, LRCX, ASML, MCHP, EBAY, NXPI, AVGO, EA, QCOM, EXC, BKNG, CSX, AMAT, KDP, ZM, INTC, CMCSA, COST, FANG, CTSH, HON, CDNS, TMUS, MAR, NVDA, GFS, LULU, CHTR, NFLX, PEP, ZS, CSCO, CEG, PCAR, BKR, KLAC, DDOG, AMZN, TXN, ADI, SNPS, META, PANW, PAYX, ADP, ODFL, WDAY, GEHC, MSFT, ADBE, AAPL, ORLY, ROST, FAST, ANSS, CPRT, ATVI, DXCM, FTNT, VRTX
                      
Stocks to watch on    Wednesday                   
                      
 Nasdaq100  xsing above30   = 3                  
  PDD, AMGN, KDP                   
                      
 Nasdaq100  xsing below30  = 0                  
                      
                      
                      
MACD Crossover:                      
Up   11                   
WBD, PYPL, XEL, ASML, ENPH, KHC, MELI, KDP, SBUX, KLAC, DDOG                  
                      
Down   3                   
INTU, CSGP, CTAS                      
                      

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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)       ...