Friday, December 29, 2023

Last trading day of the year. All indices down led by IWM, bull flag setup, in a VERY extended bullish move. Only two sectors closed higher. Breath weakened.

 SPY Market Forecast   96.36 Defensive pointing down in the upper zone                 
   0.74   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:                         
Down:     DIA -0.04% ; SPY -0.29% ; QQQ -0.43% ; IWM -1.63%          
                      
  TLT -0.90% at 98.88                 
  VIX -0.16% at 12.45                 
                      
                      
Sectors                      
  2 sectors closed higher led by  XLP +0.21%  and  XLV +0.10%    Lower =  9         
  10           sectors closing above 30d. SMA  and 1   closing below.   
                      
XLP leaders     :    HSY, KR, KHC, CHD                 
XLV leaders     :    BSX, LZAGY, MCK                 
XLI leaders     :    RELX, RSG, GD, WM                 
                      
Uptrend  XLP, XLV, XLI, XLK, XLF, XLB, XLC, XLY, XLRE                 
Sideways  XLU, XLE                   
Downtrend                      
                      
                      
Breath:                      
NYSE Weakened  as  Decliners led              788    to               2,051  and  Nasdaq   Weakened   as  Decliners led            1,247    to            3,071       
                      
                      
NDX Leaders:                        
26 closing higher  and  74 closing Lower                
ORLY : +0.94% ;  TMUS : +0.87% ;  MRNA : +0.67%            
                      
DJIA Leaders:                        
13 closing higher  and  17 closing Lower                
TRV : +0.61% ;  VZ : +0.56% ;  PG : +0.56%            
                      
SP500 Leaders:                        
147 closing higher  and  350 closing Lower                
BSX : +2.72% ;  MOH : +1.37% ;  HSY : +1.27%            
                      
NASDAQ 100                      
                      
Nasdaq Above 30MA    =   89                   
TMUS, MRNA, PDD, KHC, MAR, VRSK, LULU, MNST, ANSS, PEP, CTAS, HON, MDLZ, ADP, MSFT, SPLK, ROST, CSCO, AZN, XEL, NVDA, WDAY, DXCM, BKR, KDP, BKNG, FAST, CCEP, ASML, AEP, AMGN, GILD, FANG, DLTR, ROP, PCAR, CSX, PANW, GOOG, INTC, GEHC, ISRG, CRWD, CDNS, TTWO, IDXX, GOOGL, REGN, CTSH, COST, INTU, AVGO, VRTX, ADSK, NXPI, CDW, CMCSA, ABNB, AMAT, BIIB, CSGP, MCHP, TXN, NFLX, MU, LRCX, ADI, QCOM, KLAC, AMD, AMZN
                      
Stocks to watch on    Monday                   
                      
 Nasdaq100  xsing above30   = 1                  
  VRSK                    
                      
 Nasdaq100  xsing below30  = 3                  
  AAPL, MELI, CHTR                   
                      
                      
MACD Crossover:                      
Up   3                   
TMUS, EXC, GILD                      
                      
Down   0                   
                      
                      

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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)       ...