Friday, October 06, 2023

Time to pay attention to a reversal? SPY bouncing from support at ascending trendline. SPY MFC is short term bullish pointing up. All indices closed higher.

 SPY Market Forecast   14.89  Short-term bullish pointing up in the lower zone                 
   1.05   PCALL - 10 day SMA (0.75 - 1.00)               
                      
SPY INTERMEDIATE TERM:  Sideways- Price in between 30 &10 Wk SMA                
  6-months UP                   
  10-days UP                   
  3-days UP                   
                      
Indices                      
UP:     QQQ +1.68% ; SPY +1.19% ; IWM +0.96% ; DIA +0.88%          
Down:                         
                      
  TLT -1.21% at 84.79                 
  VIX -5.62% at 17.45                 
                      
                      
Sectors                      
  10 sectors closed higher led by  XLK +1.87%  and  XLC +1.84%    Lower =  1         
  1           sectors closing above 30d. SMA  and 10   closing below.   
                      
XLK leaders     :    MPWR, AMD, CDNS                 
XLC leaders     :    META, IPG, LYV, DIS                 
XLU leaders     :    NI, CMS, EIX, CEG                 
                      
Uptrend  XLC, XLE                   
Sideways  XLK, XLV, XLF                   
Downtrend  XLU, XLI, XLB, XLY, XLRE, XLP                   
                      
                      
Breath:                      
NYSE Strengthened  as  Advancers led           1,857    to               1,027  and  Nasdaq   Strengthened  as  Advancers led            2,753    to            1,587       
                      
                      
NDX Leaders:                        
89 closing higher  and  12 closing Lower                
PDD : +7.40% ;  CRWD : +6.90% ;  ZS : +6.71%            
                      
DJIA Leaders:                        
24 closing higher  and  6 closing Lower                
CRM : +2.65% ;  DIS : +2.64% ;  HON : +2.58%            
                      
SP500 Leaders:                        
395 closing higher  and  104 closing Lower                
PXD : +10.45% ;  MKTX : +5.82% ;  MGM : +4.86%            
                      
NASDAQ 100                      
                      
Nasdaq Above 30MA    =   36                   
PDD, CRWD, ZS, DDOG, TTD, AMD, PANW, CDNS, META, INTU, SNPS, MCHP, ODFL, MSFT, NVDA, FAST, CEG, GOOG, GOOGL, EA, CPRT, CSX, VRTX, PCAR, CSGP, BIIB, MU, GEHC, TMUS, AMGN, INTC, REGN, TSLA, SGEN, SIRI, COST  
                      
Stocks to watch on    Monday                   
                      
 Nasdaq100  xsing above30   = 18                  
  ZS, DDOG, TTD, AMD, PANW, CDNS, INTU, MCHP, ODFL, MSFT, NVDA, FAST, CEG, CPRT, CSX, CSGP, TMUS, INTC           
                      
 Nasdaq100  xsing below30  = 0                  
                      
                      
                      
MACD Crossover:                      
Up   9                   
PDD, CRWD, ENPH, AMZN, MU, ADI, REGN, PYPL, GILD                   
                      
Down   1                   
COST                      
                      

No comments:

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)       ...