Friday, September 01, 2023

SPY Intermediate Term is uptrending supported by Market Forecast. Energy and Basic Materials led the sectors. Breath strengthened. TLT resumed the bearish trend.

 SPY Market Forecast   60.1 Bullish pointing up in the middle zone                 
   0.91   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:     IWM +1.19% ; DIA +0.34% ; SPY +0.19% ;            
Down:              QQQ -0.11%          
                      
  TLT -1.85% at 94.85                 
  VIX -3.54% at 13.09                 
                      
                      
Sectors                      
  6 sectors closed higher led by  XLE +2.05%  and  XLB +1.12%    Lower =  5         
  7           sectors closing above 30d. SMA  and 4   closing below.   
                      
XLE leaders     :    DVN, HAL, MRO, VLO                 
XLB leaders     :    FCX, CF, MOS, MLM                 
XLF leaders     :    SIVB, FRC, ZION, ALL                 
                      
Uptrend  XLE, XLB, XLF, XLI, XLK, XLY, XLC                  
Sideways  XLV, XLRE, XLU, XLP                   
Downtrend                      
                      
                      
Breath:                      
NYSE Strengthened  as  Advancers led           1,858    to               1,020  and  Nasdaq   Strengthened  as  Advancers led            2,732    to            1,580       
                      
                      
NDX Leaders:                        
69 closing higher  and  32 closing Lower                
LULU : +6.01% ;  PDD : +4.36% ;  INTC : +4.18%            
                      
DJIA Leaders:                        
20 closing higher  and  10 closing Lower                
INTC : +4.18% ;  CVX : +1.99% ;  CAT : +1.82%            
                      
SP500 Leaders:                        
337 closing higher  and  161 closing Lower                
HPE : +5.83% ;  INTC : +4.18% ;  STX : +4.11%            
                      
NASDAQ 100                      
                      
Nasdaq Above 30MA    =   55                   
LULU, PDD, INTC, MELI, CEG, NXPI, ODFL, FANG, BKR, WDAY, ZS, INTU, NFLX, CDNS, ALGN, MAR, KLAC, ZM, ON, SGEN, CSCO, AAPL, ORLY, AMAT, TMUS, VRTX, EBAY, CSGP, ADBE, MU, REGN, ADP, SNPS, CPRT, BKNG, MSFT, VRSK, CTAS, TEAM, CTSH, AMGN, AMZN, ANSS, LRCX, ROST, PANW, GOOGL, GOOG, MRNA, ISRG, ADSK, CRWD, NVDA, CMCSA, CHTR
                      
Stocks to watch on    Monday                   
                      
 Nasdaq100  xsing above30   = 5                  
  NXPI, TMUS, VRTX, CSGP, MSFT                  
                      
 Nasdaq100  xsing below30  = 0                  
                      
                      
                      
MACD Crossover:                      
Up   0                   
                      
                      
Down   6                   
MNST, KHC, CMCSA, MDLZ, CHTR, WBD                    
                      
                      

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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)       ...