Friday, March 29, 2024

SPY hits new all times high and Market Forecast intermediate line is up in a bullish bias. Energy (XLE) and Utilities (XLU) led the sectors. Breath strengthened

 SPY Market Forecast   90.93 Bullish pointing up in the upper zone                 
   0.76   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 +0.31% ; DIA +0.05% ;               
Down:           SPY -0.02% ; QQQ -0.18%          
                      
  TLT -0.08% at 94.62                 
  VIX +1.80% at 13.01                 
                      
                      
Sectors                      
  8 sectors closed higher led by  XLE +1.08%  and  XLU +0.69%    Lower =  3         
  11           sectors closing above 30d. SMA  and 0   closing below.   
                      
XLE leaders     :    PSX, MPC, PBR, VLO                 
XLU leaders     :    BIP, AES, VST, EIX                 
XLRE leaders     :    BXP, INVH, OHI, SUI                 
                      
Uptrend  XLE, XLRE, XLF, XLB, XLP, XLI, XLV, XLC, XLK                 
Sideways  XLU, XLY                   
Downtrend                      
                      
                      
Breath:                      
NYSE Strengthened  as  Advancers led           1,772    to               1,039  and  Nasdaq   Strengthened  as  Advancers led            2,495    to            1,781       
                      
FANGT Stocks                      
UP:     AMZN ; NVDA ; GOOGL ;               
Down:           MSFT ; NFLX ; AAPL ; META ; TSLA      
                      
                      
NDX Leaders:                        
55 closing higher  and  45 closing Lower                
WBA : +3.19% ;  ADI : +2.31% ;  FTNT : +1.55%            
                      
DJIA Leaders:                        
19 closing higher  and  11 closing Lower                
WBA : +3.19% ;  MMM : +1.42% ;  DIS : +1.14%            
                      
SP500 Leaders:                        
365 closing higher  and  135 closing Lower                
EL : +6.28% ;  AES : +3.94% ;  BXP : +3.42%            
                      
NASDAQ 100                      
                      
Nasdaq Above 30MA    =   61                   
WBA, ADI, AEP, BKR, CPRT, TTWO, PAYX, KHC, NXPI, INTC, FANG, PEP, TXN, TMUS, EXC, GEHC, CMCSA, PYPL, LRCX, MCHP, ADP, AVGO, CSGP, AMZN, ROP, CSCO, KDP, KLAC, TTD, GOOG, CTAS, MNST, NVDA, QCOM, HON, GOOGL, CDNS, CEG, MSFT, FAST, ADSK, ANSS, ISRG, ROST, ASML, PCAR, MAR, DXCM, ORLY, AMGN, AZN, CDW, DASH, AMAT, ABNB, ILMN, NFLX, MU, BKNG, MRVL, MRNA
                      
Stocks to watch on    Monday                   
                      
 Nasdaq100  xsing above30   = 4                  
  WBA, TTWO, PAYX, TMUS                   
                      
 Nasdaq100  xsing below30  = 5                  
  SNPS, CRWD, CHTR, META, CCEP                  
                      
                      
MACD Crossover:                      
Up   10                   
ADI, PAYX, TEAM, VRSK, TMUS, GFS, EXC, CMCSA, EA, ROST                   
                      
Down   4                   
CSGP, MAR, DASH, MRNA                     
                      

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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)       ...