Monday, April 01, 2024

Second day of Bull Flag in SPY. Communications (XLC) and Energy(XLE) led the sectors. Breath weakened.

 SPY Market Forecast   91.09 Bullish pointing up in the upper zone                 
   0.75   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:     QQQ +0.21% ;                  
Down:        SPY -0.17% ; DIA -0.61% ; IWM -0.94%          
                      
  TLT -2.19% at 92.55                 
  VIX +4.92% at 13.65                 
                      
                      
Sectors                      
  3 sectors closed higher led by  XLC +0.77%  and  XLE +0.74%    Lower =  8         
  10           sectors closing above 30d. SMA  and 1   closing below.   
                      
XLC leaders     :    GOOGL, BIDU, GOOG, PINS                
XLE leaders     :    OXY, EOG, MPC, HES                 
XLK leaders     :    MU, DELL, TSM                 
                      
Uptrend  XLC, XLE, XLK, XLB, XLF, XLI, XLP, XLV, XLRE                 
Sideways  XLU, XLY                   
Downtrend                      
                      
                      
Breath:                      
NYSE Weakened  as  Decliners led              993    to               1,827  and  Nasdaq   Weakened   as  Decliners led            1,625    to            2,701       
                      
FANGT Stocks                      
UP:     GOOGL ; META ; NFLX ; MSFT ; AMZN ; NVDA ;         
Down:                 TSLA ; AAPL      
                      
                      
NDX Leaders:                        
39 closing higher  and  61 closing Lower                
SPLK : N/A ;  MU : +5.44% ;  MRVL : +3.27%            
                      
DJIA Leaders:                        
8 closing higher  and  22 closing Lower                
MMM : +6.02% ;  MSFT : +0.92% ;  CVX : +0.85%            
                      
SP500 Leaders:                        
133 closing higher  and  366 closing Lower                
MMM : +6.02% ;  MU : +5.44% ;  WYNN : +4.24%            
                      
NASDAQ 100                      
                      
Nasdaq Above 30MA    =   57                   
MU, MRVL, GOOGL, GOOG, ASML, AVGO, KDP, KLAC, QCOM, AMAT, NFLX, LRCX, TTWO, SNPS, MSFT, INTC, REGN, WBD, FANG, CEG, VRTX, KHC, DASH, AMZN, CDNS, CSCO, CPRT, ORLY, ANSS, MCHP, NVDA, TTD, BKR, ADSK, MAR, AMGN, ODFL, DXCM, ADI, TXN, NXPI, PCAR, FAST, AZN, MRNA, EXC, CTAS, ABNB, ISRG, CDW, PEP, ROP, HON, BKNG, AEP, CSGP, PYPL
                      
Stocks to watch on    Tuesday                   
                      
 Nasdaq100  xsing above30   = 4                  
  SNPS, REGN, WBD, VRTX                   
                      
 Nasdaq100  xsing below30  = 9                  
  TMUS, PAYX, ROST, GEHC, ADP, CMCSA, MNST, ILMN, WBA                
                      
                      
MACD Crossover:                      
Up   2                   
TXN, NXPI                      
                      
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)       ...