Friday, July 07, 2023

SPY Market Forecast bulliish. IWM closed higher, while SPY, QQQ and DIA lower. SPY week closed lower (438.55) above 431.73 support

 SPY Market Forecast   92.39 Bullish pointing up in the upper zone                 
   0.69   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 +1.06% ;                  
Down:        SPY -0.25% ; QQQ -0.33% ; DIA -0.53%          
                      
  TLT -0.60% at 99.08                 
  VIX -3.95% at 14.83                 
                      
                      
Sectors                      
  5 sectors closed higher led by  XLE +2.15%  and  XLB +0.87%    Lower =  6         
  8           sectors closing above 30d. SMA  and 3   closing below.   
                      
XLE leaders     :    SLB, HAL, BKR, MRO                 
XLB leaders     :    MOS, ALB, CE, CF                 
XLI leaders     :    FBHS, AAL, GNRC, CAT                
                      
Uptrend  XLB, XLI, XLY, XLC, XLK                   
Sideways  XLE, XLF, XLRE, XLU, XLV, XLP                  
Downtrend                      
                      
                      
Breath:                      
NYSE Strengthened  as  Advancers led           2,106    to                   817  and  Nasdaq   Strengthened  as  Advancers led            2,870    to            1,446       
                      
                      
NDX Leaders:                        
39 closing higher  and  62 closing Lower                
LCID : +5.23% ;  JD : +4.93% ;  PDD : +3.41%            
                      
DJIA Leaders:                        
8 closing higher  and  22 closing Lower                
CAT : +1.91% ;  MMM : +1.02% ;  CVX : +0.88%            
                      
SP500 Leaders:                        
251 closing higher  and  248 closing Lower                
SLB : +8.61% ;  HAL : +7.79% ;  DISH : +6.90%            
                      
NASDAQ 100                      
                      
Nasdaq Above 30MA    =   59                   
RIVN, LCID, JD, BKR, FANG, MAR, ABNB, IDXX, GFS, AMZN, ODFL, PYPL, CTSH, DDOG, NVDA, ADBE, GEHC, PCAR, CMCSA, CEG, ISRG, SIRI, FAST, BKNG, CHTR, FTNT, TMUS, AVGO, NXPI, NFLX, CSCO, EXC, PAYX, WDAY, MCHP, ATVI, HON, ALGN, ADI, CSX, META, DLTR, AMAT, AAPL, INTU, TSLA, DXCM, VRSK, WBD, ORLY, EA, MSFT, AEP, ADP, KDP, CSGP, ROST, COST, PANW
                      
Stocks to watch on    Monday                   
                      
 Nasdaq100  xsing above30   = 3                  
  JD, FANG, BKNG                   
                      
 Nasdaq100  xsing below30  = 10                  
  LRCX, TXN, LULU, CPRT, XEL, CTAS, CDNS, PEP, AMGN, VRTX                
                      
                      
MACD Crossover:                      
Up   1                   
TEAM                      
                      
Down   16                   
GFS, PCAR, CMCSA, MRNA, FTNT, MELI, MCHP, HON, AAPL, TXN, TSLA, MDLZ, ROST, PEP, COST, BIIB               
                      
                      

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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)       ...