Friday, January 12, 2024

SPY Market Forecast is bullish. SPY near 480 (all times high). Another sector, Consumer Disc (XLY) going below 30ds SMA. Another down day for Tesla (TSLA). Earning Season started.

 SPY Market Forecast   90.76 Bullish pointing up 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:     SPY +0.07% ; QQQ +0.05% ;               
Down:           IWM -0.17% ; DIA -0.33%          
                      
  TLT -0.20% at 96.52                 
  VIX +2.09% at 12.7                 
                      
                      
Sectors                      
  7 sectors closed higher led by  XLE +1.13%  and  XLRE +0.76%    Lower =  4         
  7           sectors closing above 30d. SMA  and 4   closing below.   
                      
XLE leaders     :    VLO, SLB, PSX, OXY                 
XLRE leaders     :    PEAK, VTR, DLR, WELL                 
XLU leaders     :    AES, DNNGY, AEP, DUK                
                      
Uptrend  XLRE, XLC, XLK, XLP, XLB, XLI, XLF, XLV, XLY                 
Sideways  XLE, XLU                   
Downtrend                      
                      
                      
Breath:                      
NYSE Strengthened  as  Advancers led           1,533    to               1,256  and  Nasdaq   Weakened   as  Advancers led            2,058    to            2,195       
                      
FANGT Stocks                      
UP:     META ; MSFT ; GOOGL ; AAPL ;             
Down:             NFLX ; NVDA ; AMZN ; TSLA     
                      
                      
NDX Leaders:                        
51 closing higher  and  49 closing Lower                
MELI : +4.20% ;  CTSH : +4.13% ;  CCEP : +2.56%            
                      
DJIA Leaders:                        
15 closing higher  and  15 closing Lower                
IBM : +2.24% ;  VZ : +1.74% ;  CVX : +1.37%            
                      
SP500 Leaders:                        
260 closing higher  and  242 closing Lower                
CTSH : +4.13% ;  BK : +4.02% ;  NOC : +2.94%            
                      
NASDAQ 100                      
                      
Nasdaq Above 30MA    =   61                   
MELI, CTSH, CCEP, REGN, DDOG, FANG, WDAY, COST, META, GILD, AMGN, MSFT, ZS, QCOM, CSX, CTAS, GFS, VRTX, ADSK, MNST, AVGO, CDNS, PANW, INTU, MDLZ, GOOGL, DLTR, GOOG, ISRG, AZN, FTNT, KHC, ADP, FAST, TMUS, DASH, EA, TTWO, NFLX, SPLK, LRCX, GEHC, ROST, CSCO, NVDA, MRVL, AMZN, CRWD, TXN, PYPL, MAR, MRNA, AMD, INTC, MU, BKNG, PDD, ILMN, TEAM, DXCM, ANSS
                      
Stocks to watch on    Monday                   
                      
 Nasdaq100  xsing above30   = 3                  
  FANG, GFS, CDNS                   
                      
 Nasdaq100  xsing below30  = 6                  
  KLAC, SIRI, PCAR, CDW, ABNB, IDXX                  
                      
                      
MACD Crossover:                      
Up   7                   
CTSH, DDOG, COST, CDNS, TTWO, NFLX, SNPS                   
                      
Down   4                   
AMD, SBUX, ABNB, DXCM                     
                      

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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)       ...