Friday, February 09, 2024

New all times high in SPY. Market Forecast intermediate line is bullish. Breath Strengthened. IWM led the move to the upside. Technology (XLK) and Consumer Discr (XLY) led

 SPY Market Forecast   95.47 Bullish pointing up in the upper zone                 
   0.73   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:     IWM +1.63% ; QQQ +0.98% ; SPY +0.58% ;            
Down:              DIA -0.16%          
                      
  TLT -0.20% at 93.85                 
  VIX +1.09% at 12.93                 
                      
                      
Sectors                      
  8 sectors closed higher led by  XLK +1.35%  and  XLY +0.71%    Lower =  3         
  8           sectors closing above 30d. SMA  and 3   closing below.   
                      
XLK leaders     :    AMAT, LRCX, KLAC                 
XLY leaders     :    MBLY, RIVN, AMZN, TSLA                
XLU leaders     :    FE, DNNGY, ES, AES                 
                      
Uptrend  XLK, XLY, XLF, XLI, XLC, XLV, XLP                  
Sideways  XLRE, XLB, XLE                   
Downtrend  XLU                    
                      
                      
Breath:                      
NYSE Strengthened  as  Advancers led           1,865    to                   920  and  Nasdaq   Strengthened  as  Advancers led            3,007    to            1,314       
                      
FANGT Stocks                      
UP:     NVDA ; AMZN ; GOOGL ; TSLA ; MSFT ; NFLX ; AAPL ;       
Down:                   META      
                      
                      
NDX Leaders:                        
67 closing higher  and  34 closing Lower                
AMAT : +6.87% ;  LRCX : +5.46% ;  MDB : +5.43%            
                      
DJIA Leaders:                        
13 closing higher  and  17 closing Lower                
INTC : +1.91% ;  MSFT : +1.56% ;  IBM : +1.07%            
                      
SP500 Leaders:                        
305 closing higher  and  197 closing Lower                
AMAT : +6.87% ;  FSLR : +5.82% ;  LRCX : +5.46%            
                      
NASDAQ 100                      
                      
Nasdaq Above 30MA    =   63                   
AMAT, LRCX, MDB, KLAC, FTNT, NVDA, ASML, AMZN, PANW, DDOG, NXPI, ZS, GOOGL, WDAY, GOOG, ADSK, CRWD, QCOM, AMD, ADBE, TTD, MSFT, CDNS, EA, CEG, FAST, ROP, DASH, SNPS, MU, INTU, REGN, SBUX, AVGO, MELI, VRSK, CDW, NFLX, ADI, ORLY, PCAR, ISRG, AAPL, PAYX, SPLK, CTAS, ON, ODFL, CPRT, COST, ROST, IDXX, META, ADP, CSX, GEHC, ANSS, DLTR, MAR, CTSH, ABNB, BKNG, MRVL
                      
Stocks to watch on    Monday                   
                      
 Nasdaq100  xsing above30   = 1                  
  MU                    
                      
 Nasdaq100  xsing below30  = 5                  
  MDLZ, PEP, ILMN, DXCM, TTWO                  
                      
                      
MACD Crossover:                      
Up   9                   
LRCX, KLAC, ZS, WDAY, ADSK, MSFT, EA, INTU, PDD                   
                      
Down   4                   
MAR, ABNB, DXCM, TTWO                     
                      

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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)       ...