Friday, April 19, 2024

Would the Fed ever lower rates? The market continues the selling off pressure. Utilities (XLU) confirming the move above the 30SMA and Energy (XLE) holding above 30SMA.

Another day for the bears, SPY moves lower to 495.16. Only Utilities and Energy remain above the 30ds SMA. 

Earnings today 
Positive initial reaction: AXP, FITB, HBAN, PG
Negative initial reaction: SLB

Earnings on Monday: TFC, GL, VZ, CR, CLF


 SPY Market Forecast   4.71 Bearish pointing down in the lower zone                 
   0.9   PCALL - 10 day SMA (0.75 - 1.00)               
                      
SPY INTERMEDIATE TERM:  Uptrend- Price above 30 &10 Wk SMA                 
  6-months UP                   
  10-days DOWN                   
  3-days DOWN                   
                      
Indices                      
UP:     DIA +0.57% ; IWM +0.16% ;               
Down:           SPY -0.87% ; QQQ -2.07%          
                      
  TLT +0.36% at 89.15                 
  VIX +3.94% at 18.71                 
                      
                      
Sectors                      
  6 sectors closed higher led by  XLU +1.54%  and  XLF +1.38%    Lower =  5         
  2           sectors closing above 30d. SMA  and 9   closing below.   
                      
XLU leaders     :    BIP, ETR, EIX, D                 
XLF leaders     :    COIN, ADYEY, MS, COF                
XLE leaders     :    PBR, PBR/A, ENB, WMB                
                      
Uptrend  XLE                    
Sideways  XLU, XLF, XLP, XLV, XLB, XLI, XLC, XLK                  
Downtrend  XLRE, XLY                   
                      
                      
Breath:                      
NYSE Strengthened  as  Advancers led           1,893    to                   886  and  Nasdaq   Strengthened  as  Advancers led            2,196    to            2,019       
                      
FANGT Stocks                      
UP:                         
Down:     XLU ; XLE ; MSFT ; TSLA ; AMZN ; META ; NFLX ; NVDA      
                      
                      
NDX Leaders:                        
39 closing higher  and  61 closing Lower                
SPLK : N/A ;  WBA : +3.70% ;  ADSK : +2.79%            
                      
DJIA Leaders:                        
22 closing higher  and  8 closing Lower                
AXP : +6.23% ;  WBA : +3.70% ;  JPM : +2.51%            
                      
SP500 Leaders:                        
339 closing higher  and  160 closing Lower                
PARA : +13.40% ;  AXP : +6.23% ;  FITB : +5.93%            
                      
NASDAQ 100                      
                      
Nasdaq Above 30MA    =   12                   
EXC, AEP, KHC, XEL, KDP, PEP, TMUS, FANG, AZN, CTAS, GOOG, GOOGL                  
                      
Stocks to watch on    Monday                   
                      
 Nasdaq100  xsing above30   = 3                  
  EXC, AEP, TMUS                   
                      
 Nasdaq100  xsing below30  = 4                  
  PANW, CEG, DDOG, MU                   
                      
                      
MACD Crossover:                      
Up   8                   
WBA, CHTR, KHC, XEL, CMCSA, KDP, WBD, VRSK                   
                      
Down   1                   
MDB                      
                      

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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)       ...