Friday, December 15, 2023

First day bull flag in SPY. Technology (XLK) and Consumer Discr (XLY) finished up all other sectors down. SPY Market Forecast is defensive. Breath weakened.

 SPY Market Forecast   97.31 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 UP                   
                      
Indices                      
UP:     QQQ +0.48% ; DIA +0.04% ;               
Down:           SPY -0.16% ; IWM -0.84%          
                      
  TLT +0.11% at 99.15                 
  VIX -1.60% at 12.28                 
                      
                      
Sectors                      
  2 sectors closed higher led by  XLK +0.50%  and  XLY +0.21%    Lower =  8         
  11           sectors closing above 30d. SMA  and 0   closing below.   
                      
XLK leaders     :    TEAM, ORCL, CRWD                 
XLY leaders     :    JD, BABA, RIVN, AMZN                
XLP leaders     :    COST, KR, CL, DLTR                 
                      
Uptrend  XLK, XLY, XLI, XLC, XLF                   
Sideways  XLB, XLE, XLV, XLRE, XLU                   
Downtrend  XLP                    
                      
                      
Breath:                      
NYSE Weakened  as  Decliners led              906    to               1,942  and  Nasdaq   Weakened   as  Decliners led            1,743    to            2,599       
                      
                      
NDX Leaders:                        
52 closing higher  and  47 closing Lower                
JD : +4.46% ;  COST : +4.45% ;  TEAM : +3.44%            
                      
DJIA Leaders:                        
14 closing higher  and  16 closing Lower                
BA : +3.13% ;  INTC : +2.17% ;  CRM : +1.71%            
                      
SP500 Leaders:                        
128 closing higher  and  376 closing Lower                
FSLR : +6.58% ;  STLD : +4.52% ;  COST : +4.45%            
                      
NASDAQ 100                      
                      
Nasdaq Above 30MA    =   86                   
JD, COST, TEAM, ENPH, CRWD, ODFL, ZS, PANW, INTC, AVGO, CTSH, AMZN, DDOG, FTNT, PDD, INTU, QCOM, BKNG, NVDA, VRTX, TSLA, SNPS, CSCO, AMD, LRCX, DLTR, WDAY, ADSK, CDNS, META, MRVL, MAR, NFLX, CSX, KLAC, PCAR, LULU, ADI, WBA, ANSS, MELI, MRNA, AMAT, NXPI, PAYX, MDLZ, SGEN, HON, TXN, ASML, FAST, AAPL, AMGN, CMCSA, DXCM, ABNB, TMUS, ROST, ISRG, ON, KDP, CSGP, ADP, ALGN, ZM, GFS, MCHP, CTAS, MU, PYPL, KHC
                      
Stocks to watch on    Monday                   
                      
 Nasdaq100  xsing above30   = 3                  
  JD, ODFL, CSCO                   
                      
 Nasdaq100  xsing below30  = 3                  
  CPRT, PEP, MNST                   
                      
                      
MACD Crossover:                      
Up   4                   
JD, ODFL, CEG, NFLX                      
                      
Down   8                   
VRSK, TMUS, PEP, ZM, CTAS, KHC, EA, EXC                   
                      

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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)       ...