Friday, September 22, 2023

 SPY Market Forecast   25.63 Bearish pointing down in the middle zone                 
   0.94   PCALL - 10 day SMA (0.75 - 1.00)               
                      
SPY INTERMEDIATE TERM:  Sideways- Price in between 30 &10 Wk SMA                
  6-months UP                   
  10-days DOWN                   
  3-days DOWN                   
                      
Indices                      
UP:     QQQ +0.01% ;                  
Down:        SPY -0.22% ; IWM -0.23% ; DIA -0.29%          
                      
  TLT +0.80% at 91.43                 
  VIX -1.94% at 17.2                 
                      
                      
Sectors                      
  2 sectors closed higher led by  XLK +0.21%  and  XLE +0.17%    Lower =  9         
  0           sectors closing above 30d. SMA  and 11   closing below.   
                      
XLK leaders     :    ON, AVGO, IT                 
XLE leaders     :    TRGP, MRO, BKR, CVX                 
XLB leaders     :    PPG, NUE, CF, NEM                 
                      
Uptrend  XLE                    
Sideways  XLK, XLC, XLF, XLY                   
Downtrend  XLB, XLU, XLV, XLI, XLP, XLRE                  
                      
                      
Breath:                      
NYSE Weakened  as  Decliners led           1,370    to               1,508  and  Nasdaq   Weakened   as  Decliners led            1,833    to            2,442       
                      
                      
NDX Leaders:                        
53 closing higher  and  48 closing Lower                
PDD : +4.08% ;  SGEN : +3.54% ;  ON : +3.17%            
                      
DJIA Leaders:                        
8 closing higher  and  22 closing Lower                
UNH : +0.99% ;  CVX : +0.66% ;  AAPL : +0.49%            
                      
SP500 Leaders:                        
173 closing higher  and  325 closing Lower                
ON : +3.17% ;  AVGO : +2.56% ;  FDS : +2.12%            
                      
NASDAQ 100                      
                      
Nasdaq Above 30MA    =   22                   
PDD, SGEN, ZS, MU, PCAR, META, LULU, COST, XEL, CSX, VRSK, CEG, CTAS, CRWD, CHTR, TMUS, AMGN, GFS, HON, AEP, KHC, VRTX            
                      
Stocks to watch on    Monday                   
                      
 Nasdaq100  xsing above30   = 4                  
  ZS, PCAR, META, LULU                   
                      
 Nasdaq100  xsing below30  = 3                  
  EXC, EBAY, TSLA                   
                      
                      
MACD Crossover:                      
Up   1                   
SGEN                      
                      
Down   5                   
COST, MDLZ, TMUS, KDP, EBAY                     
                      

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