Monday, January 08, 2024

SPY Bull Flag triggered, and price moved above 10ds SMA. Technolgy (XLK) and Consumer Disc (XLY) led the up move. Breath strengthened.

 SPY Market Forecast   72.91 Bearish pointing down in the middle 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 SIDEWAYS                   
  3-days UP                   
                      
Indices                      
UP:     QQQ +2.07% ; IWM +1.80% ; SPY +1.43% ; DIA +0.59%          
Down:                         
                      
  TLT +0.98% at 97.23                 
  VIX -2.40% at 13.03                 
                      
                      
Sectors                      
  10 sectors closed higher led by  XLK +2.51%  and  XLY +1.70%    Lower =  1         
  10           sectors closing above 30d. SMA  and 1   closing below.   
                      
XLK leaders     :    MRVL, ANET, NVDA                 
XLY leaders     :    DECK, DASH, MBLY, ABNB                
XLC leaders     :    ROKU, SNAP, PINS, OMC                
                      
Uptrend  XLK, XLY, XLC, XLRE, XLV, XLP, XLI, XLF, XLB                 
Sideways  XLU, XLE                   
Downtrend                      
                      
                      
Breath:                      
NYSE Strengthened  as  Advancers led           2,137    to                   702  and  Nasdaq   Strengthened  as  Advancers led            3,095    to            1,288       
                      
FANGT Stocks                      
UP:     NVDA ; META ; AMZN ; MSFT ; NFLX ; TSLA ; AAPL ; GOOGL      
Down:                         
                      
                      
NDX Leaders:                        
94 closing higher  and  7 closing Lower                
MRVL : +6.99% ;  NVDA : +6.43% ;  CRWD : +5.58%            
                      
DJIA Leaders:                        
23 closing higher  and  7 closing Lower                
CRM : +3.88% ;  INTC : +3.33% ;  AMGN : +2.60%            
                      
SP500 Leaders:                        
419 closing higher  and  83 closing Lower                
AAL : +7.21% ;  ANET : +6.47% ;  NVDA : +6.43%            
                      
NASDAQ 100                      
                      
Nasdaq Above 30MA    =   70                   
MRVL, NVDA, CRWD, AMD, FTNT, DXCM, TEAM, ZS, DASH, MRNA, GFS, LRCX, INTC, KLAC, ABNB, DDOG, PYPL, WDAY, AMZN, MAR, AMGN, ADSK, ASML, WBA, ILMN, AVGO, NFLX, PCAR, GOOGL, GOOG, TXN, CCEP, ISRG, META, MSFT, MU, WBD, QCOM, BKNG, CMCSA, INTU, ANSS, IDXX, AZN, CTAS, CTSH, ROST, GEHC, DLTR, COST, MDLZ, KHC, GILD, CSCO, MNST, PDD, ADP, VRTX, AEP, SIRI, CSX, PEP, LULU, BIIB, SPLK, TMUS, FANG, XEL, HON, REGN
                      
Stocks to watch on    Tuesday                   
                      
 Nasdaq100  xsing above30   = 16                  
  DASH, GFS, LRCX, KLAC, ABNB, DDOG, WDAY, AMZN, ASML, NFLX, GOOGL, MSFT, WBD, CMCSA, INTU, CTSH           
                      
 Nasdaq100  xsing below30  = 0                  
                      
                      
                      
MACD Crossover:                      
Up   3                   
MRVL, NVDA, CEG                      
                      
Down   1                   
PEP                      
                      

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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)       ...