Friday, July 28, 2023

SPY Market Forecast Intermediate is bullish. QQQ up 1.82%. Communications (XLC) and Consumer Disc (XLY) led the sectors. Breath Strengthened.

 SPY Market Forecast   90.12 Bullish pointing up in the upper zone                 
   0.73   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 +1.82% ; IWM +1.29% ; SPY +0.98% ; DIA +0.48%          
Down:                         
                      
  TLT +0.51% at 99.81                 
  VIX -7.49% at 13.33                 
                      
                      
Sectors                      
  9 sectors closed higher led by  XLC +1.97%  and  XLY +1.70%    Lower =  2         
  11           sectors closing above 30d. SMA  and 0   closing below.   
                      
XLC leaders     :    DISH, META, WBD, NFLX                
XLY leaders     :    NWL, TSLA, ETSY, AMZN                
XLK leaders     :    INTC, KLAC, AMAT                 
                      
Uptrend  XLC, XLY, XLK, XLP, XLB, XLI, XLE, XLV, XLF                 
Sideways  XLU, XLRE                   
Downtrend                      
                      
                      
Breath:                      
NYSE Strengthened  as  Advancers led           2,101    to                   861  and  Nasdaq   Strengthened  as  Advancers led            3,242    to            1,149       
                      
                      
NDX Leaders:                        
86 closing higher  and  15 closing Lower                
LCID : +8.42% ;  JD : +6.71% ;  INTC : +6.60%            
                      
DJIA Leaders:                        
22 closing higher  and  8 closing Lower                
INTC : +6.60% ;  PG : +2.83% ;  MSFT : +2.31%            
                      
SP500 Leaders:                        
338 closing higher  and  163 closing Lower                
TROW : +8.27% ;  NWL : +7.71% ;  CINF : +6.85%            
                      
NASDAQ 100                      
                      
Nasdaq Above 30MA    =   79                   
LCID, JD, INTC, SIRI, KLAC, TTD, PDD, MELI, AZN, META, WBD, AMAT, ODFL, MDLZ, ABNB, AMZN, INTU, MCHP, ON, ADBE, QCOM, LRCX, PYPL, DDOG, GOOGL, GOOG, DXCM, CSX, WDAY, BKR, TEAM, MAR, BKNG, NVDA, CRWD, MRVL, ADI, ASML, ILMN, ZS, AAPL, PANW, FAST, VRTX, IDXX, ANSS, MNST, ROST, ZM, PEP, FANG, DLTR, TMUS, AVGO, NXPI, SNPS, KDP, SBUX, TXN, CEG, VRSK, FTNT, COST, EA, REGN, AEP, MU, ADSK, AMGN, PCAR, ADP
                      
Stocks to watch on    Monday                   
                      
 Nasdaq100  xsing above30   = 16                  
  MELI, AZN, WBD, MDLZ, AMZN, DXCM, CSX, TEAM, ASML, ILMN, PANW, FAST, VRTX, TXN, AEP, ADSK            
                      
 Nasdaq100  xsing below30  = 3                  
  CDNS, CTSH, WBA                   
                      
                      
MACD Crossover:                      
Up   8                   
META, ABNB, INTU, ON, MAR, BKNG, ADI, ZM                   
                      
Down   3                   
VRSK, CTAS, EXC                      
                      
 

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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)       ...