Thursday, January 18, 2024

SPY continues in a range triggering a Bull Flag. Market Forecast is defensive. All indices closed higher led by QQQ. Breath Strengthened.

 SPY Market Forecast   81.27 Defensive pointing down in the upper zone                 
   0.86   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:     QQQ +1.42% ; SPY +0.89% ; IWM +0.59% ; DIA +0.56%          
Down:                         
                      
  TLT -0.93% at 93.79                 
  VIX -4.46% at 14.13                 
                      
                      
Sectors                      
  6 sectors closed higher led by  XLK +2.03%  and  XLI +1.35%    Lower =  5         
  5           sectors closing above 30d. SMA  and 6   closing below.   
                      
XLK leaders     :    TSM, IFNNY, KLAC                 
XLI leaders     :    FAST, BA, NSC, UBER                 
XLC leaders     :    SNAP, SPOT, SE, NTDOY                
                      
Uptrend  XLK, XLI, XLC, XLY, XLB, XLF, XLV, XLP, XLRE                 
Sideways  XLE, XLU                   
Downtrend                      
                      
                      
Breath:                      
NYSE Strengthened  as  Advancers led           1,559    to               1,239  and  Nasdaq   Strengthened  as  Advancers led            2,249    to            2,010       
                      
FANGT Stocks                      
UP:     AAPL ; META ; NVDA ; GOOGL ; AMZN ; MSFT ; NFLX ;       
Down:                   TSLA      
                      
                      
NDX Leaders:                        
81 closing higher  and  20 closing Lower                
FAST : +7.18% ;  KLAC : +4.89% ;  AMAT : +4.54%            
                      
DJIA Leaders:                        
24 closing higher  and  6 closing Lower                
BA : +4.21% ;  AAPL : +3.26% ;  DIS : +2.07%            
                      
SP500 Leaders:                        
332 closing higher  and  168 closing Lower                
FAST : +7.18% ;  AAL : +6.88% ;  LUV : +6.83%            
                      
NASDAQ 100                      
                      
Nasdaq Above 30MA    =   63                   
FAST, KLAC, AMAT, ASML, MRVL, LRCX, QCOM, PYPL, AVGO, ISRG, TXN, CDW, CRWD, ORLY, MAR, META, DASH, INTU, SIRI, NVDA, MU, PANW, MELI, DXCM, AMD, WDAY, INTC, GOOG, GOOGL, PCAR, ROST, CDNS, FTNT, AMZN, ZS, ADSK, MSFT, BKNG, NFLX, TEAM, EA, CSCO, ROP, DDOG, CTAS, ILMN, COST, TMUS, VRSK, ADP, MNST, CSX, AMGN, CCEP, REGN, SPLK, CTSH, GILD, VRTX, TTWO, MDLZ, ANSS, MRNA
                      
Stocks to watch on    Friday                   
                      
 Nasdaq100  xsing above30   = 12                  
  FAST, KLAC, AMAT, ASML, PYPL, TXN, CDW, INTU, INTC, PCAR, EA, ROP               
                      
 Nasdaq100  xsing below30  = 3                  
  MDB, KHC, DLTR                   
                      
                      
MACD Crossover:                      
Up   12                   
FAST, KLAC, AMAT, ASML, LRCX, QCOM, AVGO, AAPL, CDW, MAR, SBUX, CSCO                 
                      
Down   4                   
CCEP, VRTX, TTWO, 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)       ...