Wednesday, July 05, 2023

Range day. SPY Market Forecast bullish. Breath weakened

 SPY Market Forecast   90.59 Bullish pointing up in the upper zone                 
   0.71   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:                         
Down:        SPY -0.15% ; DIA -0.37% ; IWM -1.00%          
                      
  TLT -0.95% at 101.11                 
  VIX +3.50% at 14.18                 
                      
                      
Sectors                      
  4 sectors closed higher led by  XLU +1.14%  and  XLC +0.77%    Lower =  7         
  11           sectors closing above 30d. SMA  and 0   closing below.   
                      
XLU leaders     :    PCG, ED, NRG, NI                 
XLC leaders     :    META, GOOG, GOOGL, LYV                
XLRE leaders     :    SBAC, CCI, AMT, IRM                 
                      
Uptrend  XLC, XLY, XLI, XLK, XLB                   
Sideways  XLU, XLRE, XLV, XLP, XLF, XLE                  
Downtrend                      
                      
                      
Breath:                      
NYSE Weakened  as  Decliners led              867    to               2,062  and  Nasdaq   Weakened   as  Decliners led            1,595    to            2,833       
                      
                      
NDX Leaders:                        
44 closing higher  and  57 closing Lower                
MELI : +4.49% ;  TEAM : +3.08% ;  META : +2.92%            
                      
DJIA Leaders:                        
12 closing higher  and  18 closing Lower                
BA : +1.13% ;  CRM : +1.03% ;  WBA : +0.83%            
                      
SP500 Leaders:                        
166 closing higher  and  332 closing Lower                
PCG : +3.13% ;  FIS : +3.10% ;  SBAC : +2.97%            
                      
NASDAQ 100                      
                      
Nasdaq Above 30MA    =   78                   
MELI, RIVN, TEAM, META, VRSK, INTU, XEL, PANW, CSGP, PAYX, PYPL, EXC, NFLX, TSLA, KDP, DXCM, PDD, CEG, AEP, PEP, IDXX, ADP, ADBE, AMGN, LCID, CPRT, ZS, VRTX, TMUS, AMZN, ORLY, MSFT, COST, DDOG, ODFL, CTSH, GEHC, CTAS, CHTR, BKR, NVDA, FAST, EBAY, ROST, FTNT, ABNB, ATVI, AAPL, CSCO, ISRG, CMCSA, EA, WDAY, HON, LULU, ANSS, FANG, MAR, CDNS, CSX, DLTR, WBD, SIRI, PCAR, AVGO, NXPI, BKNG, TXN, GFS, AMAT, ADI
                      
Stocks to watch on    Thursday                   
                      
 Nasdaq100  xsing above30   = 3                  
  MELI, TEAM, XEL                   
                      
 Nasdaq100  xsing below30  = 3                  
  SNPS, ZM, ASML                   
                      
                      
MACD Crossover:                      
Up   6                   
PAYX, TSLA, GILD, ADP, AMGN, ABNB                    
                      
Down   8                   
VRTX, ATVI, SBUX, AMAT, ALGN, ASML, LRCX, KLAC                   
                      

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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)       ...