Monday, March 18, 2024

SPY Market Forecast   87.48 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 SIDEWAYS                   
  3-days SIDEWAYS                   
                      
Indices                      
UP:     QQQ +0.82% ; SPY +0.59% ; DIA +0.19% ;            
Down:              IWM -0.57%          
                      
  TLT -0.30% at 92.66                 
  VIX -0.56% at 14.33                 
                      
                      
Sectors                      
  9 sectors closed higher led by  XLC +2.05%  and  XLY +0.76%    Lower =  2         
  8           sectors closing above 30d. SMA  and 3   closing below.   
                      
XLC leaders     :    GOOGL, GOOG, META, TTD                
XLY leaders     :    TSLA, MBLY, DKNG, PDD                
XLP leaders     :    PEP, BTI, DG, K                 
                      
Uptrend  XLC, XLP, XLF, XLK, XLE, XLI, XLB, XLV, XLRE                 
Sideways  XLY, XLU                   
Downtrend                      
                      
                      
Breath:                      
NYSE Strengthened  as  Advancers led           1,418    to               1,381  and  Nasdaq   Weakened   as  Advancers led            1,896    to            2,405       
                      
FANGT Stocks                      
UP:     TSLA ; GOOGL ; META ; NFLX ; NVDA ; AAPL ; MSFT ; AMZN      
Down:                         
                      
                      
NDX Leaders:                        
72 closing higher  and  28 closing Lower                
TSLA : +6.25% ;  GOOGL : +4.60% ;  GOOG : +4.44%            
                      
DJIA Leaders:                        
16 closing higher  and  14 closing Lower                
CRM : +2.10% ;  DIS : +1.70% ;  CAT : +1.42%            
                      
SP500 Leaders:                        
306 closing higher  and  194 closing Lower                
TSLA : +6.25% ;  MTCH : +4.71% ;  GOOGL : +4.60%            
                      
NASDAQ 100                      
                      
Nasdaq Above 30MA    =   47                   
GOOGL, GOOG, PDD, PEP, DXCM, META, ANSS, PYPL, NFLX, CEG, CHTR, MAR, CRWD, PCAR, LRCX, GEHC, AMAT, CSGP, KLAC, FAST, CMCSA, ABNB, NVDA, CSCO, MU, MNST, CCEP, MRNA, EXC, BKR, MSFT, FANG, AEP, ORLY, AMZN, SPLK, CPRT, QCOM, CDW, AMD, CTAS, MCHP, AZN, DASH, ISRG, LULU, TXN
                      
Stocks to watch on    Tuesday                   
                      
 Nasdaq100  xsing above30   = 8                  
  PDD, PEP, ANSS, CHTR, MAR, CRWD, LRCX, CSCO                 
                      
 Nasdaq100  xsing below30  = 3                  
  ROP, REGN, ADI                   
                      
                      
MACD Crossover:                      
Up   2                   
WDAY, KHC                      
                      
Down   4                   
ROP, MCHP, AZN, ADI                      
                      
  

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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)       ...