Friday, March 08, 2024

QQQ closed just below the 10ds SMA. Note the bearish divergence. Real Estate (XLRE) closed higher followed by Energy (XLE). Apple bounced but sold at the end of the day.

 SPY Market Forecast   87.38 Defensive pointing down in the upper zone                 
   0.7   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 SIDEWAYS                   
                      
Indices                      
UP:                         
Down:     IWM -0.06% ; DIA -0.12% ; SPY -0.60% ; QQQ -1.44%          
                      
  TLT -0.17% at 95.74                 
  VIX +1.94% at 14.72                 
                      
                      
Sectors                      
  4 sectors closed higher led by  XLRE +1.18%  and  XLE +0.35%    Lower =  7         
  11           sectors closing above 30d. SMA  and 0   closing below.   
                      
XLRE leaders     :    ZG, Z, EXR, SBAC                 
XLE leaders     :    EQNR, XOM, PXD, EOG                
XLU leaders     :    NEE, XEL, PPL, ES                 
                      
Uptrend  XLRE, XLE, XLF, XLC, XLV, XLI, XLB, XLP, XLK                 
Sideways  XLU, XLY                   
Downtrend                      
                      
                      
Breath:                      
NYSE Strengthened  as  Advancers led           1,545    to               1,230  and  Nasdaq   Weakened   as  Advancers led            2,102    to            2,141       
                      
FANGT Stocks                      
UP:     AAPL ; GOOGL ;                 
Down:         NFLX ; MSFT ; AMZN ; META ; TSLA ; NVDA      
                      
                      
NDX Leaders:                        
35 closing higher  and  66 closing Lower                
MRNA : +3.63% ;  TEAM : +2.88% ;  CMCSA : +2.01%            
                      
DJIA Leaders:                        
14 closing higher  and  16 closing Lower                
MMM : +1.38% ;  CSCO : +1.23% ;  WBA : +1.05%            
                      
SP500 Leaders:                        
254 closing higher  and  246 closing Lower                
ETSY : +5.72% ;  CCL : +4.53% ;  MRNA : +3.63%            
                      
NASDAQ 100                      
                      
Nasdaq Above 30MA    =   58                   
MRNA, GILD, DXCM, MAR, GEHC, CSGP, ABNB, CSX, AZN, INTU, EXC, PCAR, FANG, SPLK, CCEP, CDW, ROST, ISRG, TMUS, TTD, AEP, IDXX, MNST, FAST, CPRT, REGN, CTAS, ORLY, NFLX, BKR, AMZN, HON, DASH, ADI, META, ANSS, MU, DLTR, TXN, AMD, SNPS, CRWD, FTNT, NXPI, QCOM, CDNS, AMAT, KLAC, ODFL, LRCX, INTC, MCHP, ON, CEG, ASML, NVDA, AVGO, MRVL
                      
Stocks to watch on    Monday                   
                      
 Nasdaq100  xsing above30   = 2                  
  GILD, INTU                   
                      
 Nasdaq100  xsing below30  = 2                  
  MSFT, COST                   
                      
                      
MACD Crossover:                      
Up   3                   
WBA, LULU, CRWD                      
                      
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)       ...