Wednesday, January 10, 2024

Market Forecast is bullish. All indices closed up let by QQQ. Sectors led by Communications (XLC) and Technology (XLK). Breath Strengthened.

 SPY Market Forecast   78.59 Bullish pointing up in the middle 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 SIDEWAYS                   
  3-days UP                   
                      
Indices                      
UP:     QQQ +0.68% ; SPY +0.57% ; DIA +0.47% ; IWM +0.06%          
Down:                         
                      
  TLT -0.47% at 96.17                 
  VIX -0.55% at 12.69                 
                      
                      
Sectors                      
  7 sectors closed higher led by  XLC +0.93%  and  XLK +0.85%    Lower =  4         
  9           sectors closing above 30d. SMA  and 2   closing below.   
                      
XLC leaders     :    META, NTDOY, SPOT, SNAP                
XLK leaders     :    PANW, TEAM, FTNT                 
XLY leaders     :    SONY, LEN, HD, MPNGY                
                      
Uptrend  XLC, XLK, XLY, XLI, XLV, XLF, XLRE, XLB, XLP                 
Sideways  XLU, XLE                   
Downtrend                      
                      
                      
Breath:                      
NYSE Strengthened  as  Advancers led           1,593    to               1,213  and  Nasdaq   Weakened   as  Advancers led            2,111    to            2,152       
                      
FANGT Stocks                      
UP:     META ; NVDA ; MSFT ; AMZN ; GOOGL ; AAPL ;         
Down:                 TSLA ; NFLX NFLX     
                      
                      
NDX Leaders:                        
53 closing higher  and  48 closing Lower                
ISRG : +10.25% ;  PANW : +5.22% ;  MDB : +3.81%            
                      
DJIA Leaders:                        
20 closing higher  and  10 closing Lower                
HD : +3.06% ;  MSFT : +1.86% ;  WMT : +1.24%            
                      
SP500 Leaders:                        
279 closing higher  and  224 closing Lower                
ISRG : +10.25% ;  PANW : +5.22% ;  VTRS : +4.31%            
                      
NASDAQ 100                      
                      
Nasdaq Above 30MA    =   70                   
ISRG, PANW, TEAM, META, FTNT, CRWD, DASH, NVDA, MSFT, MELI, AMZN, ADSK, CDW, AZN, GOOGL, BKNG, FAST, GOOG, COST, CSCO, VRTX, ILMN, INTU, CMCSA, CTAS, REGN, HON, WDAY, MNST, CSX, CTSH, ANSS, IDXX, ABNB, MAR, SPLK, TMUS, ROST, ADP, TTWO, MRVL, EA, PYPL, AVGO, CCEP, PCAR, DLTR, LRCX, ZS, QCOM, AMD, SIRI, BIIB, GEHC, MRNA, NFLX, DDOG, TXN, PDD, XEL, AMGN, MDLZ, MU, INTC, DXCM, KHC, GILD, AEP, GFS, WBA
                      
Stocks to watch on    Thursday                   
                      
 Nasdaq100  xsing above30   = 4                  
  MELI, CDW, FAST, HON                   
                      
 Nasdaq100  xsing below30  = 0                  
                      
                      
                      
MACD Crossover:                      
Up   12                   
ISRG, PANW, META, FTNT, MELI, GOOGL, GOOG, ADBE, SBUX, ABNB, EA, AMD                 
                      
Down   1                   
XEL                      
                      
                      

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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)       ...