Thursday, January 04, 2024

SPY gave us another down day. SPY still defensive about to cross below the upper zone. Breath weakened. Unemployment at 8:30am EST tomorrow

 SPY Market Forecast   80.8 Defensive pointing down in the upper zone                 
   0.74   PCALL - 10 day SMA (0.75 - 1.00)               
                      
SPY INTERMEDIATE TERM:  Sideways- Price in between 30 &10 Wk SMA                
  6-months UP                   
  10-days DOWN                   
  3-days DOWN                   
                      
Indices                      
UP:     DIA +0.09% ;                  
Down:        IWM -0.20% ; SPY -0.32% ; QQQ -0.51%          
                      
  TLT -1.52% at 97.22                 
  VIX +0.64% at 14.13                 
                      
                      
Sectors                      
  3 sectors closed higher led by  XLV +0.50%  and  XLF +0.40%    Lower =  8         
  9           sectors closing above 30d. SMA  and 2   closing below.   
                      
XLV leaders     :    NVO, BAYRY, MRK                 
XLF leaders     :    COIN, ADYEY, MS, COF                
XLI leaders     :    RELX, TT, FERG, JCI                 
                      
Uptrend  XLV, XLF, XLI, XLP, XLRE, XLB, XLC, XLY, XLK                 
Sideways  XLU, XLE                   
Downtrend                      
                      
                      
Breath:                      
NYSE Weakened  as  Decliners led           1,384    to               1,421  and  Nasdaq   Weakened   as  Decliners led            2,014    to            2,208       
                      
                      
NDX Leaders:                        
47 closing higher  and  53 closing Lower                
MRVL : +2.31% ;  VRTX : +1.32% ;  DXCM : +1.30%            
                      
DJIA Leaders:                        
16 closing higher  and  14 closing Lower                
MRK : +1.95% ;  AMGN : +0.82% ;  AXP : +0.76%            
                      
SP500 Leaders:                        
250 closing higher  and  252 closing Lower                
CCL : +3.06% ;  EPAM : +2.68% ;  DG : +2.65%            
                      
NASDAQ 100                      
                      
Nasdaq Above 30MA    =   58                   
MRVL, VRTX, DXCM, TEAM, GILD, NFLX, FTNT, ILMN, AMGN, META, ADSK, AZN, IDXX, GEHC, COST, MU, CRWD, AMD, ADP, MAR, WBD, MNST, ROST, CTAS, ISRG, BKNG, TTWO, ANSS, XEL, HON, CSX, TMUS, MRNA, ZS, AEP, SPLK, MDLZ, CTSH, SIRI, INTC, DLTR, LULU, CCEP, WDAY, REGN, KHC, PDD, CSCO, PEP, AVGO, QCOM, BIIB, PCAR, TXN, GOOG, GOOGL, FANG, WBA
                      
Stocks to watch on    Friday                   
                      
 Nasdaq100  xsing above30   = 3                  
  NFLX, ADSK, WBD                   
                      
 Nasdaq100  xsing below30  = 5                  
  KDP, CMCSA, BKR, GFS, ON                   
                      
                      
MACD Crossover:                      
Up   0                   
                      
                      
Down   1                   
BIIB                      
                      

No comments:

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)       ...