Wednesday, November 22, 2023

SPY Market Forecast is still bullish. Breath strengthened for NYSE and Nasdaq. All indices closed higher with small gains, led by IWM.

 SPY Market Forecast   97.39 Bullish pointing up in the upper zone                 
   0.83   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 +0.63% ; DIA +0.50% ; QQQ +0.41% ; SPY +0.39%          
Down:                         
                      
  TLT +0.35% at 90.87                 
  VIX -4.12% at 12.8                 
                      
                      
Sectors                      
  10 sectors closed higher led by  XLC +0.82%  and  XLP +0.72%    Lower =  1         
  10           sectors closing above 30d. SMA  and 1   closing below.   
                      
XLC leaders     :    BIDU, RBLX, WMG, NWSA                
XLP leaders     :    CELH, EL, STZ, KR                 
XLV leaders     :    ELV, BMY, HCA                 
                      
Uptrend  XLC, XLK, XLE                   
Sideways  XLP, XLV, XLF, XLY, XLRE, XLI, XLB                  
Downtrend  XLU                    
                      
                      
Breath:                      
NYSE Strengthened  as  Advancers led           1,807    to               1,013  and  Nasdaq   Strengthened  as  Advancers led            2,721    to            1,607       
                      
                      
NDX Leaders:                        
72 closing higher  and  29 closing Lower                
EBAY : +3.09% ;  AMD : +2.81% ;  MELI : +1.97%            
                      
DJIA Leaders:                        
23 closing higher  and  7 closing Lower                
MMM : +1.47% ;  NKE : +1.29% ;  MSFT : +1.28%            
                      
SP500 Leaders:                        
390 closing higher  and  114 closing Lower                
EBAY : +3.09% ;  HPQ : +2.83% ;  AMD : +2.81%            
                      
NASDAQ 100                      
                      
Nasdaq Above 30MA    =   79                   
EBAY, AMD, MELI, AMZN, ENPH, ABNB, PYPL, DXCM, KDP, KHC, MRVL, ADBE, LRCX, META, MAR, MSFT, ISRG, GOOGL, SIRI, GOOG, CSX, CTSH, PEP, JD, COST, ORLY, ADI, MNST, WBD, MDLZ, XEL, GFS, CSGP, NFLX, KLAC, CEG, HON, MU, PAYX, CPRT, QCOM, INTU, AAPL, TXN, CRWD, GEHC, CTAS, FAST, AEP, TMUS, ROST, DDOG, AMAT, IDXX, SNPS, VRSK, PDD, INTC, ASML, EA, CDNS, ADP, MCHP, PCAR, SBUX, ODFL, CMCSA, PANW, ANSS, ZS, LULU
                      
Stocks to watch on    Friday                   
                      
 Nasdaq100  xsing above30   = 0                  
                      
                      
 Nasdaq100  xsing below30  = 2                  
  TEAM, ADSK                   
                      
                      
MACD Crossover:                      
Up   0                   
                      
                      
Down   4                   
SIRI, QCOM, AMAT, ADSK                     
                      

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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)       ...