Monday, April 08, 2024

SPY Market Forecast continues moving down and bearish. All indices finished slightly higher. Consumer Disc (XLY)and Real Estate (XLRE) led the sectors

 SPY Market Forecast   73.84 Bearish pointing down in the middle 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:     IWM +0.55% ; SPY +0.06% ; DIA +0.06% ; QQQ +0.03%          
Down:                         
                      
  TLT -0.01% at 91.38                 
  VIX -5.24% at 15.19                 
                      
                      
Sectors                      
  6 sectors closed higher led by  XLY +0.95%  and  XLRE +0.86%    Lower =  5         
  6           sectors closing above 30d. SMA  and 5   closing below.   
                      
XLY leaders     :    TSLA, LI, CCL, RIVN                 
XLRE leaders     :    CPT, MAA, EQR, BXP                 
XLU leaders     :    ES, ETR, BIP, NRG                 
                      
Uptrend  XLF, XLB, XLC, XLK, XLI, XLV, XLE                  
Sideways  XLY, XLRE, XLU, XLP                   
Downtrend                      
                      
                      
Breath:                      
NYSE Strengthened  as  Advancers led           1,655    to               1,129  and  Nasdaq   Strengthened  as  Advancers led            2,414    to            1,829       
                      
FANGT Stocks                      
UP:     TSLA ; GOOGL ; AMZN ;               
Down:           MSFT ; AAPL ; NVDA ; NFLX ; META      
                      
                      
NDX Leaders:                        
50 closing higher  and  50 closing Lower                
SPLK : N/A ;  TSLA : +4.90% ;  WBD : +2.40%            
                      
DJIA Leaders:                        
12 closing higher  and  18 closing Lower                
NKE : +1.31% ;  HD : +1.17% ;  MMM : +0.99%            
                      
SP500 Leaders:                        
284 closing higher  and  215 closing Lower                
ALB : +6.67% ;  CPT : +5.70% ;  TSLA : +4.90%            
                      
NASDAQ 100                      
                      
Nasdaq Above 30MA    =   46                   
MRNA, PYPL, MCHP, TTWO, GOOGL, GOOG, QCOM, PAYX, EXC, FANG, DDOG, XEL, CDNS, ADI, TTD, ADP, DXCM, ANSS, AMAT, CTAS, AEP, AZN, ASML, MAR, PEP, PCAR, SNPS, KDP, AMZN, ODFL, BKNG, KHC, LRCX, BKR, MSFT, AVGO, CDW, CPRT, MU, CSGP, CEG, FAST, MRVL, NFLX, DASH, META
                      
Stocks to watch on    Tuesday                   
                      
 Nasdaq100  xsing above30   = 5                  
  MCHP, DDOG, CDNS, ADP, SNPS                  
                      
 Nasdaq100  xsing below30  = 4                  
  ORLY, ABNB, NVDA, FTNT                   
                      
                      
MACD Crossover:                      
Up   5                   
TSLA, INTU, EXC, ADI, MAR                     
                      
Down   4                   
TMUS, AVGO, MU, MELI                     
                      

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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)       ...