Tuesday, January 02, 2024

SPY second day in a Bull Flag closing below the 10ds SMA. QQQ down 1.69%. VIX up 6% to 13.2. Healthcare and Utilities led to the upside. Breath weakened.

 SPY Market Forecast   94.09 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 UP                   
  3-days DOWN                   
                      
Indices                      
UP:     DIA +0.06% ;                  
Down:        SPY -0.56% ; IWM -0.59% ; QQQ -1.69%          
                      
  TLT -0.58% at 98.31                 
  VIX +6.02% at 13.2                 
                      
                      
Sectors                      
  6 sectors closed higher led by  XLV +1.76%  and  XLU +1.45%    Lower =  5         
  10           sectors closing above 30d. SMA  and 1   closing below.   
                      
XLV leaders     :    MRNA, MRK, CI                 
XLU leaders     :    ES, D, AGR, WEC                 
XLP leaders     :    CELH, CPB, K, TSN                 
                      
Uptrend  XLV, XLP, XLRE, XLF, XLB, XLC, XLY, XLI, XLK                 
Sideways  XLU, XLE                   
Downtrend                      
                      
                      
Breath:                      
NYSE Weakened  as  Decliners led           1,348    to               1,494  and  Nasdaq   Weakened   as  Decliners led            1,885    to            2,452       
                      
                      
NDX Leaders:                        
24 closing higher  and  77 closing Lower                
MRNA : +13.12% ;  BIIB : +3.45% ;  AMGN : +3.25%            
                      
DJIA Leaders:                        
18 closing higher  and  12 closing Lower                
MRK : +3.87% ;  AMGN : +3.25% ;  VZ : +3.13%            
                      
SP500 Leaders:                        
261 closing higher  and  243 closing Lower                
MRNA : +13.12% ;  VTRS : +5.17% ;  LVS : +4.31%            
                      
NASDAQ 100                      
                      
Nasdaq Above 30MA    =   75                   
MRNA, BIIB, AMGN, KHC, REGN, GILD, XEL, WBD, AEP, WBA, MDLZ, PEP, MNST, AZN, FANG, VRTX, TMUS, CHTR, SIRI, DLTR, ADP, KDP, PYPL, CSCO, TSLA, SPLK, CSX, HON, CCEP, CMCSA, PDD, ROST, TXN, BKR, DXCM, PCAR, GOOG, TTWO, GOOGL, LULU, ILMN, GEHC, FTNT, AMZN, IDXX, COST, CTSH, MAR, CTAS, ODFL, BKNG, FAST, ISRG, META, CSGP, ON, ADI, ANSS, AVGO, WDAY, CDW, QCOM, CRWD, INTU, MU, MRVL, NXPI, ADSK, ZS, GFS, LRCX
                      
Stocks to watch on    Wednesday                   
                      
 Nasdaq100  xsing above30   = 1                  
  CHTR                    
                      
 Nasdaq100  xsing below30  = 15                  
  VRSK, ABNB, MSFT, TTD, ROP, PANW, DASH, NVDA, CDNS, KLAC, NFLX, MCHP, AMAT, DDOG, MDB            
                      
                      
MACD Crossover:                      
Up   3                   
KHC, XEL, AEP                      
                      
Down   15                   
CCEP, TXN, GEHC, FTNT, MSFT, CEG, META, SBUX, NVDA, CDW, CPRT, MU, MRVL, GFS, AMD                
                      

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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)       ...