Thursday, April 04, 2024

SPY bearish engulfing candle. Market Forecast is defensive. All indices and sectors finished lower. Breath weakened.

 SPY Market Forecast   82.93 Defensive pointing down 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 SIDEWAYS                   
  3-days DOWN                   
                      
Indices                      
UP:                         
Down:     IWM -1.00% ; SPY -1.22% ; DIA -1.34% ; QQQ -1.53%          
                      
  TLT +0.72% at 92.68                 
  VIX +14.10% at 16.35                 
                      
                      
Sectors                      
  0 sectors closed higher led by  XLE -0.06%  and  XLU -0.20%    Lower =  11         
  6           sectors closing above 30d. SMA  and 5   closing below.   
                      
XLE leaders     :    CNQ, MPC, TTE, XOM                 
XLU leaders     :    DNNGY, NEE, AES, AWK                
XLP leaders     :    CAG, CELH, TSN, WBA                 
                      
Uptrend  XLE, XLI, XLB, XLF, XLC, XLV, XLK                  
Sideways  XLU, XLP, XLRE, XLY                   
Downtrend                      
                      
                      
Breath:                      
NYSE Weakened  as  Decliners led              971    to               1,819  and  Nasdaq   Weakened   as  Decliners led            1,604    to            2,617       
                      
FANGT Stocks                      
UP:     TSLA ; META ;                 
Down:         AAPL ; MSFT ; AMZN ; NFLX ; GOOGL ; NVDA      
                      
                      
NDX Leaders:                        
11 closing higher  and  89 closing Lower                
SPLK : N/A ;  WBA : +2.59% ;  TSLA : +1.62%            
                      
DJIA Leaders:                        
3 closing higher  and  27 closing Lower                
WBA : +2.59% ;  CVX : +0.16% ;  WMT : +0.12%            
                      
SP500 Leaders:                        
72 closing higher  and  427 closing Lower                
CAG : +5.44% ;  MKTX : +4.58% ;  CF : +3.57%            
                      
NASDAQ 100                      
                      
Nasdaq Above 30MA    =   32                   
META, AZN, BKR, PCAR, EXC, PEP, KHC, AEP, XEL, MSFT, ODFL, KDP, FANG, PYPL, CDW, AMZN, TTWO, ANSS, CSGP, NFLX, CTAS, QCOM, TTD, GOOG, GOOGL, CPRT, FTNT, DASH, MU, AVGO, DXCM, CEG     
                      
Stocks to watch on    Friday                   
                      
 Nasdaq100  xsing above30   = 0                  
                      
                      
 Nasdaq100  xsing below30  = 17                  
  MAR, TMUS, TXN, CDNS, FAST, ADI, AMAT, SNPS, MCHP, LRCX, ASML, ORLY, MRVL, BKNG, WBD, NVDA, KLAC           
                      
                      
MACD Crossover:                      
Up   2                   
META, AZN                      
                      
Down   13                   
EXC, PAYX, AMZN, GFS, ADP, ADI, ADBE, AMGN, QCOM, LRCX, TTD, BKNG, CEG                 
                      

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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)       ...