Thursday, February 08, 2024

Up up up. New all times high in SPY. MFC bullish and breath strengthened. All indices closed higher led by IWM. Sectors led by Energy (XLE) and Real Estate (XLRE)

 SPY Market Forecast   94.58 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:     IWM +1.52% ; QQQ +0.19% ; DIA +0.18% ; SPY +0.04%          
Down:                         
                      
  TLT -0.58% at 94.04                 
  VIX -0.31% at 12.79                 
                      
                      
Sectors                      
  6 sectors closed higher led by  XLE +1.03%  and  XLRE +0.55%    Lower =  5         
  8           sectors closing above 30d. SMA  and 3   closing below.   
                      
XLE leaders     :    TTE, PXD, XOM, COP                 
XLRE leaders     :    OHI, JLL, REXR, CBRE                 
XLY leaders     :    RIVN, BKNG, DASH, LULU                
                      
Uptrend  XLY, XLC, XLK, XLI, XLP, XLV, XLF                  
Sideways  XLE, XLRE, XLB                   
Downtrend  XLU                    
                      
                      
Breath:                      
NYSE Strengthened  as  Advancers led           1,690    to               1,109  and  Nasdaq   Strengthened  as  Advancers led            2,629    to            1,619       
                      
FANGT Stocks                      
UP:     TSLA ; GOOGL ; META ; MSFT ;             
Down:             NFLX ; AMZN ; AAPL ; NVDA      
                      
                      
NDX Leaders:                        
68 closing higher  and  33 closing Lower                
ON : +4.87% ;  GFS : +4.26% ;  MDB : +3.88%            
                      
DJIA Leaders:                        
10 closing higher  and  20 closing Lower                
DIS : +11.50% ;  MCD : +1.60% ;  CVX : +1.27%            
                      
SP500 Leaders:                        
275 closing higher  and  228 closing Lower                
RL : +16.79% ;  MPWR : +14.20% ;  DIS : +11.50%            
                      
NASDAQ 100                      
                      
Nasdaq Above 30MA    =   67                   
ON, MDB, BKNG, DASH, SNPS, NXPI, CDW, ANSS, MRVL, CDNS, ABNB, ROST, ZS, LRCX, AMAT, CRWD, KLAC, QCOM, INTU, EA, WDAY, AVGO, PEP, SBUX, ADSK, MELI, ADI, REGN, TTD, DLTR, PANW, MAR, DDOG, ODFL, COST, SPLK, PAYX, PCAR, CTSH, GOOG, DXCM, ADP, GEHC, ILMN, GOOGL, IDXX, CPRT, CSX, MDLZ, META, ASML, TTWO, MSFT, ADBE, NFLX, FAST, AMZN, VRSK, AAPL, ROP, NVDA, CTAS, AMD, ISRG, CEG, FTNT, ORLY
                      
Stocks to watch on    Friday                   
                      
 Nasdaq100  xsing above30   = 3                  
  ANSS, EA, ADI                   
                      
 Nasdaq100  xsing below30  = 2                  
  CSGP, PYPL                   
                      
                      
MACD Crossover:                      
Up   9                   
LULU, CDNS, ABNB, AMAT, AVGO, PANW, MAR, SPLK, TTWO                   
                      
Down   3                   
AEP, CSGP, ORLY                      
                      

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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)       ...