Monday, December 18, 2023

All indices closed slightly higher, led by SPY. Breath weakened. Communications (XLC) and Consumer Staples (XLP) let the sectors. SPY Market Forecast is defensive. PCALL ratio 10 SMA is below 0.75, warning a potencial bearish SPY reversal

 SPY Market Forecast   96.52 Defensive pointing down in the upper zone                 
   0.73   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 SIDEWAYS                   
                      
Indices                      
UP:     SPY +0.56% ; QQQ +0.43% ; DIA +0.09% ; IWM +0.04%          
Down:                         
                      
  TLT -0.80% at 98.36                 
  VIX +2.28% at 12.56                 
                      
                      
Sectors                      
  8 sectors closed higher led by  XLC +1.23%  and  XLP +1.04%    Lower =  3         
  11           sectors closing above 30d. SMA  and 0   closing below.   
                      
XLC leaders     :    WMG, NFLX, META, GOOG                
XLP leaders     :    COST, KR, LW, FMX                 
XLE leaders     :    EQNR, PBR, VLO, PBR/A                
                      
Uptrend  XLC, XLY, XLF, XLK, XLI                   
Sideways  XLE, XLB, XLV, XLU, XLRE                   
Downtrend  XLP                    
                      
                      
Breath:                      
NYSE Weakened  as  Decliners led           1,388    to               1,442  and  Nasdaq   Weakened   as  Decliners led            1,986    to            2,365       
                      
                      
NDX Leaders:                        
61 closing higher  and  39 closing Lower                
COST : +3.40% ;  NFLX : +2.98% ;  META : +2.90%            
                      
DJIA Leaders:                        
19 closing higher  and  11 closing Lower                
PG : +1.54% ;  WMT : +1.46% ;  AXP : +1.25%            
                      
SP500 Leaders:                        
292 closing higher  and  211 closing Lower                
ETSY : +4.69% ;  COST : +3.40% ;  KR : +3.22%            
                      
NASDAQ 100                      
                      
Nasdaq Above 30MA    =   92                   
COST, NFLX, META, AMZN, ALGN, GOOG, NVDA, GOOGL, LULU, EBAY, AZN, FANG, INTU, ILMN, AVGO, BKR, KDP, ISRG, XEL, PEP, TTD, CSX, BIIB, HON, MELI, ROST, CSGP, CSCO, FAST, CDNS, PAYX, ANSS, DXCM, SNPS, ABNB, DDOG, MSFT, MDLZ, CMCSA, MAR, ZS, MNST, CTAS, PYPL, KHC, ADP, MRVL, MU, PANW, ENPH, TMUS, GEHC, PDD, WDAY, AMGN, ODFL, SGEN, CRWD, AMD, IDXX, BKNG, ZM, DLTR, CTSH, GFS, TEAM, LRCX, PCAR, EA, TSLA, AEP
                      
Stocks to watch on    Tuesday                   
                      
 Nasdaq100  xsing above30   = 7                  
  GOOG, GOOGL, FANG, BKR, PEP, MSFT, MNST                 
                      
 Nasdaq100  xsing below30  = 1                  
  JD                    
                      
                      
MACD Crossover:                      
Up   5                   
AMZN, GOOG, GOOGL, CSX, DDOG                    
                      
Down   5                   
SNPS, MNST, PANW, IDXX, AAPL                    
                      

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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)       ...