Mr. Renko: January 2024

Tuesday, January 30, 2024

Negative reaction in AMD and GOOGL to earnings in the aftermarket. SPY Market Forecast turned to defensive. TLT up and Sectors were led by Financials (XLF) and Energy (XLE). Crude Oil in a bull flag.

SPY Market Forecast   95.46 Defensive pointing down in the upper zone
   0.78   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:     DIA +0.31% ;
Down:        SPY -0.08% ; QQQ -0.67% ; IWM -0.85%

  TLT +0.91% at 95.72
  VIX -2.13% at 13.31


Sectors
  6 sectors closed higher led by XLF +1.26% and XLE +1.03%    Lower = 5
  7           sectors closing above 30d. SMA and 4   closing below.

XLF leaders     :   COIN, ADYEY, MS, COF
XLE leaders     :   MPC, VLO, SU, PSX
XLP leaders     :   SYY, USFD, HSY, CPB

Uptrend XLF, XLP, XLV, XLI, XLC, XLK
Sideways XLE, XLB, XLU, XLY, XLRE
Downtrend


Breath:
NYSE Weakened as Decliners led           1,356    to              1,460 and Nasdaq Weakened   as Decliners led            1,575    to           2,736

FANGT Stocks
UP:     NVDA ; TSLA ;
Down:         META ; MSFT ; GOOGL ; AMZN ; AAPL ; NFLX


NDX Leaders:
39 closing higher and 62 closing Lower
VRTX : +2.35% ; HON : +1.40% ; FANG : +1.34%

DJIA Leaders:
20 closing higher and 10 closing Lower
JPM : +2.05% ; GS : +1.66% ; AXP : +1.64%

SP500 Leaders:
272 closing higher and 232 closing Lower
MSCI : +9.31% ; GM : +7.80% ; SYY : +7.52%

NASDAQ 100

Nasdaq Above 30MA    =   72
VRTX, HON, FANG, CMCSA, CTAS, ORLY, ROP, COST, PEP, PAYX, MDLZ, FAST, CSX, CEG, TEAM, VRSK, SNPS, CPRT, PCAR, CCEP, NVDA, CDW, MAR, REGN, FTNT, AMGN, ADP, ILMN, SBUX, CRWD, PANW, KHC, CDNS, BKNG, CSCO, PYPL, SPLK, META, MSFT, ADSK, ROST, ODFL, CTSH, ADBE, ISRG, WDAY, TTWO, EA, KLAC, AVGO, INTU, TMUS, MDB, GOOG, LRCX, CSGP, ADI, AMAT, GOOGL, AMZN, DDOG, ZS, ASML, MRVL, ABNB, NFLX, MRNA, MELI, QCOM, AMD, MU

Stocks to watch on    Wednesday

Nasdaq100 xsing above30   = 2
  HON, SBUX

Nasdaq100 xsing below30 = 3
  CHTR, AAPL, TTD


MACD Crossover:
Up   2
CTAS, XEL

Down   5
PANW, KLAC, MCHP, QCOM, MU

Monday, January 29, 2024

All indices moved higher. SPY MFC intermediate is back to bullish. Sectors led by Consumer Disc (XLY) and Technology (XLK).

SPY Market Forecast   95.8 Bullish pointing up in the upper zone
   0.8   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 +1.75% ; QQQ +1.02% ; SPY +0.79% ; DIA +0.58%
Down:

  TLT +1.15% at 94.86
  VIX +2.56% at 13.6


Sectors
  10 sectors closed higher led by XLY +1.46% and XLK +0.92%    Lower = 1
  7           sectors closing above 30d. SMA and 4   closing below.

XLY leaders     :   RIVN, CCL, TSLA, DKNG
XLK leaders     :   PLTR, CRWD, SNOW
XLC leaders     :   TTD, ROKU, SNAP, PINS

Uptrend XLK, XLC, XLV, XLI, XLP, XLF
Sideways XLY, XLRE, XLU, XLB, XLE
Downtrend


Breath:
NYSE Strengthened as Advancers led           2,050    to                  785 and Nasdaq Strengthened as Advancers led            3,061    to           1,314

FANGT Stocks
UP:     TSLA ; NVDA ; META ; MSFT ; AMZN ; NFLX ; GOOGL ;
Down:                   AAPL


NDX Leaders:
85 closing higher and 16 closing Lower
MDB : +6.29% ; TTD : +5.15% ; ILMN : +4.33%

DJIA Leaders:
21 closing higher and 9 closing Lower
CRM : +2.83% ; DIS : +2.23% ; V : +2.13%

SP500 Leaders:
368 closing higher and 135 closing Lower
ADM : +5.55% ; CCL : +4.55% ; ILMN : +4.33%

NASDAQ 100

Nasdaq Above 30MA    =   73
MDB, TTD, ILMN, DDOG, CRWD, ZS, PYPL, TEAM, MRVL, MRNA, WDAY, ADBE, NVDA, SNPS, ABNB, DASH, INTU, META, ASML, ADI, REGN, ADSK, MSFT, CSGP, AMZN, VRTX, CDNS, CPRT, ISRG, ODFL, MU, ROP, AVGO, COST, CHTR, BKNG, AMAT, NFLX, GOOGL, ROST, PANW, LRCX, MDLZ, CTSH, ORLY, CTAS, GOOG, ADP, TMUS, CSX, AMGN, FTNT, TTWO, PAYX, AMD, FAST, CSCO, KHC, MAR, SPLK, PEP, VRSK, KLAC, CCEP, CEG, CDW, CMCSA, AAPL, PCAR, EA, QCOM

Stocks to watch on    Tuesday

Nasdaq100 xsing above30   = 7
  MDB, TTD, CPRT, ODFL, CHTR, PAYX, PEP

Nasdaq100 xsing below30 = 0



MACD Crossover:
Up   5
PYPL, TEAM, LULU, EXC, WBA

Down   2
GFS, ISRG

Friday, January 26, 2024

SETUPS for Monday 01/29/24

BF : NVDA, COST, AMAT, ADSK, AKAM, BAC, CRM, IBKR, JPM, QQQ, V, IBM, WDC, ABT, CMCSA
HBO : ADBE, C, DIA, HD, TBT, ABNB
2T : WMT
MACD :
CHANNEL : INTC, ADI, EBAY, TXN, MU, BIDU, CSCO, JD, BBY, IWM, MMM, MS, NKE, NTAP, SQ, TGT, TLT, UNH, XLE, ZION, KRE, XOP, ROKU, CTRA, DAL, FCX, HPQ, JNJ, KHC, KO, LUV, LVS, MDT, MGM
NH : CSX, NFLX, FAS, SPY, STX
BEAR : TSLA, DVN, EQT, MRO
EPS : AAPL, AMZN, MSFT, PYPL, AMD, GOOGL, BA, CAT, MCD, WYNN, X, META, ABBV, BMY, BSX, COP, CVS, CVX, DIS, ENPH, GILD, GM, GOOG, HAL, MDLZ, MO, MRK

SPY made another all times high. Breath strengthened. Sectors let by Energy (XLE). Crude Oil (/CL Futures) confirming a trend reversal.

SPY Market Forecast   94.79 Defensive pointing down in the upper zone
   0.81   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:     DIA +0.16% ; IWM +0.01% ;
Down:           SPY -0.13% ; QQQ -0.60%

  TLT -0.19% at 93.78
  VIX -1.41% at 13.26


Sectors
  8 sectors closed higher led by XLE +0.74% and XLV +0.57%    Lower = 3
  7           sectors closing above 30d. SMA and 4   closing below.

XLE leaders     :   VLO, PBR, LNG, MPC
XLV leaders     :   SGEN, LZAGY, DHR
XLP leaders     :   RBGLY, CL, HRL, BF/B

Uptrend XLV, XLP, XLF, XLC, XLI, XLK
Sideways XLE, XLY, XLU, XLB, XLRE
Downtrend


Breath:
NYSE Strengthened as Advancers led           1,603    to              1,180 and Nasdaq Strengthened as Advancers led            2,207    to           2,047

FANGT Stocks
UP:     NFLX ; AMZN ; TSLA ; META ; GOOGL ;
Down:               MSFT ; NVDA ; AAPL


NDX Leaders:
44 closing higher and 57 closing Lower
ABNB : +5.28% ; MELI : +3.28% ; CMCSA : +2.19%

DJIA Leaders:
15 closing higher and 15 closing Lower
AXP : +7.10% ; UNH : +1.99% ; NKE : +1.96%

SP500 Leaders:
271 closing higher and 232 closing Lower
AXP : +7.10% ; ABNB : +5.28% ; COF : +4.65%

NASDAQ 100

Nasdaq Above 30MA    =   66
ABNB, MELI, CMCSA, PYPL, NFLX, DDOG, TEAM, CSX, COST, CCEP, FTNT, AMZN, MDLZ, ROST, DASH, PANW, CEG, CSGP, ADSK, AMGN, BKNG, EA, CDW, VRSK, META, GOOGL, GOOG, VRTX, SPLK, INTU, FANG, ISRG, CTAS, KHC, ORLY, ASML, CDNS, MSFT, PCAR, TMUS, ADP, ROP, MAR, CSCO, ZS, TTWO, REGN, NVDA, MRNA, AAPL, CRWD, FAST, WDAY, MU, CTSH, ADBE, ILMN, SNPS, AMD, ADI, AVGO, QCOM, MRVL, LRCX, AMAT, KLAC

Stocks to watch on    Monday

Nasdaq100 xsing above30   = 2
  PYPL, CSGP

Nasdaq100 xsing below30 = 8
  ODFL, MDB, CPRT, ANSS, MCHP, DXCM, GFS, INTC


MACD Crossover:
Up   3
KDP, CSX, PEP

Down   7
PYPL, ADP, CRWD, ON, TXN, MRVL, INTC