Friday, February 02, 2024

New all times high in SPY and QQQ, Sectors led by Communications (XLC) and Consumer Discr (XLY). Meta up 20%. Breath weakened.

 SPY Market Forecast   89.31 Bullish pointing up in the upper zone                 
   0.74   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:     QQQ +1.69% ; SPY +1.05% ; DIA +0.34% ;            
Down:              IWM -0.53%          
                      
  TLT -2.21% at 96.07                 
  VIX -0.22% at 13.85                 
                      
                      
Sectors                      
  6 sectors closed higher led by  XLC +4.02%  and  XLY +1.79%    Lower =  5         
  8           sectors closing above 30d. SMA  and 3   closing below.   
                      
XLC leaders     :    META, SNAP, PINS, TTD                
XLY leaders     :    DECK, AMZN, MBLY, DKNG                
XLK leaders     :    SNOW, SHOP, NVDA                 
                      
Uptrend  XLC, XLY, XLK, XLI, XLF, XLV, XLP                  
Sideways  XLE, XLB, XLRE                   
Downtrend  XLU                    
                      
                      
Breath:                      
NYSE Weakened  as  Decliners led              901    to               1,925  and  Nasdaq   Weakened   as  Decliners led            1,590    to            2,594       
                      
FANGT Stocks                      
UP:     META ; AMZN ; NVDA ; MSFT ; GOOGL ;           
Down:               TSLA ; NFLX ; AAPL      
                      
                      
NDX Leaders:                        
60 closing higher  and  40 closing Lower                
META : +20.32% ;  AMZN : +7.87% ;  MDB : +6.59%            
                      
DJIA Leaders:                        
13 closing higher  and  16 closing Lower                
CVX : +2.94% ;  CAT : +2.41% ;  MSFT : +1.84%            
                      
SP500 Leaders:                        
223 closing higher  and  276 closing Lower                
META : +20.32% ;  EW : +9.38% ;  AMZN : +7.87%            
                      
NASDAQ 100                      
                      
Nasdaq Above 30MA    =   62                   
META, AMZN, MDB, DDOG, NVDA, AMD, ODFL, TTD, ZS, DLTR, SNPS, CDNS, DASH, AVGO, MSFT, CPRT, CEG, PANW, MELI, CRWD, FAST, CDW, ADBE, PCAR, INTU, MU, MRVL, KLAC, LRCX, AMAT, COST, ADP, ROP, CSX, PYPL, MAR, PAYX, ADSK, ORLY, VRSK, MDLZ, TTWO, ROST, CTAS, WDAY, BKNG, ABNB, SPLK, ASML, CTSH, FTNT, ISRG, KHC, AMGN, PEP, TMUS, NFLX, CCEP, ILMN, REGN, VRTX, CMCSA
                      
Stocks to watch on    Monday                   
                      
 Nasdaq100  xsing above30   = 2                  
  ODFL, TTD                   
                      
 Nasdaq100  xsing below30  = 4                  
  CSGP, EA, TEAM, CHTR                   
                      
                      
MACD Crossover:                      
Up   5                   
META, DDOG, NVDA, COST, IDXX                    
                      
Down   0                   
                      
                      

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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)       ...