Tuesday, August 08, 2023

 SPY Market Forecast   63.21 Bearish pointing down in the middle zone                 
   0.8   PCALL - 10 day SMA (0.75 - 1.00)               
                      
SPY INTERMEDIATE TERM:  Uptrend- Price above 30 &10 Wk SMA                 
  6-months UP                   
  10-days DOWN                   
  3-days DOWN                   
                      
Indices                      
UP:                         
Down:     SPY -0.43% ; DIA -0.45% ; IWM -0.63% ; QQQ -0.85%          
                      
  TLT +1.16% at 96.69                 
  VIX +1.40% at 15.99                 
                      
                      
Sectors                      
  3 sectors closed higher led by  XLV +0.77%  and  XLE +0.49%    Lower =  8         
  6           sectors closing above 30d. SMA  and 5   closing below.   
                      
XLV leaders     :    ABMD, PKI, LLY                 
XLE leaders     :    APA, EQT, VLO, MPC                 
XLU leaders     :    DUK, SO, EIX, CEG                 
                      
Uptrend  XLE, XLC, XLI, XLK, XLY, XLF, XLB                  
Sideways  XLV, XLU, XLRE, XLP                   
Downtrend                      
                      
                      
Breath:                      
NYSE Weakened  as  Decliners led           1,086    to               1,810  and  Nasdaq   Weakened   as  Decliners led            1,698    to            2,613       
                      
                      
NDX Leaders:                        
22 closing higher  and  79 closing Lower                
LCID : +12.17% ;  AMGN : +3.11% ;  GFS : +1.66%            
                      
DJIA Leaders:                        
10 closing higher  and  20 closing Lower                
AMGN : +3.11% ;  DIS : +1.50% ;  AAPL : +0.53%            
                      
SP500 Leaders:                        
152 closing higher  and  348 closing Lower                
LLY : +14.87% ;  OGN : +9.04% ;  BR : +6.45%            
                      
NASDAQ 100                      
                      
Nasdaq Above 30MA    =   50                   
LCID, AMGN, TEAM, CEG, PCAR, MAR, AZN, REGN, SGEN, FANG, BKR, CSCO, CHTR, ODFL, GOOG, GOOGL, CMCSA, ROST, WBD, COST, VRSK, LULU, BKNG, NFLX, TTD, INTC, GILD, NXPI, INTU, PAYX, ALGN, ADP, SBUX, KDP, MDLZ, META, LRCX, CTSH, KLAC, AMAT, AMZN, NVDA, ADBE, MNST, ON, PDD, JD, MELI, MU, WDAY
                      
Stocks to watch on    Wednesday                   
                      
 Nasdaq100  xsing above30   = 3                  
  LCID, PCAR, SGEN                   
                      
 Nasdaq100  xsing below30  = 11                  
  ILMN, WBA, PEP, AVGO, SNPS, DLTR, MRVL, ABNB, AMD, CRWD, DDOG               
                      
                      
MACD Crossover:                      
Up   0                   
                      
                      
Down   5                   
CMCSA, KDP, MDLZ, LRCX, 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)       ...