Friday, April 05, 2024

SPY Market Forecast turned bearish, crossing down the 80 line. A bit of bounce in the indices led by QQQ. Industrials and Technology led the sectors. Breath strengthened.

 SPY Market Forecast   78.19 Bearish pointing down in the middle zone                 
   0.77   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 +1.18% ; SPY +1.04% ; DIA +0.74% ; IWM +0.33%          
Down:                         
                      
  TLT -1.39% at 91.39                 
  VIX -1.96% at 16.03                 
                      
                      
Sectors                      
  11 sectors closed higher led by  XLI +1.39%  and  XLK +1.15%    Lower =  0         
  6           sectors closing above 30d. SMA  and 5   closing below.   
                      
XLI leaders     :    GE, ETN, ODFL, UBER                 
XLK leaders     :    DELL, NOW, ANET                 
XLE leaders     :    OXY, VLO, SHEL, EOG                 
                      
Uptrend  XLI, XLK, XLE, XLC, XLF, XLB, XLV                  
Sideways  XLRE, XLY, XLU, XLP                   
Downtrend                      
                      
                      
Breath:                      
NYSE Strengthened  as  Advancers led           1,642    to               1,131  and  Nasdaq   Strengthened  as  Advancers led            2,290    to            1,988       
                      
FANGT Stocks                      
UP:     META ; NFLX ; AMZN ; NVDA ; MSFT ; GOOGL ; AAPL ;       
Down:                   TSLA      
                      
                      
NDX Leaders:                        
78 closing higher  and  22 closing Lower                
SPLK : N/A ;  MDB : +5.55% ;  CEG : +5.44%            
                      
DJIA Leaders:                        
23 closing higher  and  7 closing Lower                
CRM : +2.64% ;  CAT : +2.57% ;  MSFT : +1.83%            
                      
SP500 Leaders:                        
366 closing higher  and  135 closing Lower                
GE : +6.05% ;  CEG : +5.44% ;  NEM : +5.12%            
                      
NASDAQ 100                      
                      
Nasdaq Above 30MA    =   45                   
CEG, DXCM, DASH, META, CSGP, NFLX, ODFL, AMZN, ASML, MRVL, NVDA, FTNT, BKNG, AMAT, MAR, PAYX, FAST, ABNB, MSFT, LRCX, AVGO, ORLY, FANG, TTD, ADI, CPRT, PCAR, CTAS, GOOG, GOOGL, BKR, CDW, QCOM, TTWO, PYPL, MRNA, EXC, KDP, ANSS, AZN, AEP, PEP, MU, XEL, KHC
                      
Stocks to watch on    Monday                   
                      
 Nasdaq100  xsing above30   = 13                  
  ASML, MRVL, NVDA, BKNG, AMAT, MAR, PAYX, FAST, ABNB, LRCX, ORLY, ADI, MRNA             
                      
 Nasdaq100  xsing below30  = 0                  
                      
                      
                      
MACD Crossover:                      
Up   3                   
AMZN, PAYX, AAPL                      
                      
Down   5                   
GOOG, GOOGL, AEP, WDAY, TSLA                    
                      

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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)       ...