Financials Lead Market Higher Again...

DJIA + 239.66, +3.46% SP500 + 29.38, +4.07% NASDAQ Comp. + 54.46, +3.97% Russell 2000 + 23.82, +6.50% Exchange NYSE NASD Advancing 3,388 2,266 Declining 439 501 Oil $47.03 +$4.70 Gold $924.00 +$13.30 SOX 217.37 +7.35 VIX 41.18 -2.43 The VIX moved down confirming the move up in the SPX on Tuesday. Strongest Sectors: XLF +10.30%...XLV +4.90%...XLY +3.68% Weakest Sectors: XLU +1.30%..XLB +2.48%...XLP +2.58% Sector Watch Up Trending: Sideways: XLE, XLY, XLV, XLK Down Trending: XLF, XLP, XLI, XLB, XLU Financial and retail stocks led the market higher as better than expected February retails sales were reported. Jobless claims were 654,000 against a forecast of 645,000. GE's credit rating was lowered from AAA to AA+ by S&P. The downgrade was expected and the stock rallied after the news was released. BAC, like C on Tuesday, reported that it was profitable for the first two months of the year. The Financial Sector XLF rose another 10.30%. Leading financial stocks included PRU, BAC, WFC, PNC, JPM, MET, KEY, USB and ETF’s UYG and FAS were all moved up more than 10.30%. Remember that all of these stocks are in down trends. Support bounce in a down trend is a counter trend move and in an up trend is a bull flag support bounce. A sideways trend is a horizontal support bounce. AMZN continued to rise above its horizontal resistance at 67.50…Chart target is 74+. PCLN bounced off its 50 DMA and formed a bullish harami. BIDU formed a doji and inside day. Index Commentary The DJIA formed a large white candle as it rose to its 20 DMA and 38.2% Fib retracement from its Feb 9 high. The SPX formed a formed a large white candle as it rose to 750…closed just above its 20 DMA and 38.2% Fib retracement. The Nasdaq formed a large white candle as it broke through its old 1,385 support level and 20 DMA and closed near its 30 DMA and 50% Fib retracement off its Feb 9 high. The RUT formed a large white candle as it rose to its 20 DMA and its 38.2% Fib retracement. At the Open on Friday Counter Trend SPY – formed a large white candle, potential bear flag NSC – formed a large white candle, potential bear flag SCHN – broke the low of the high day and fell to support in 25 to 29 trading range Up Trend HANS – closed above horizontal resistance CF – formed a hanging man/bearish harami just above horizontal resistance breakout CERN – moved above it resistance breakout and towards its chart target of 47 AKAM – rose to recent high after bull flag support bounce Sideways Trend OSIP – formed large white candle after spinning, benefited from DNA news RE – large white candle did not confirm hanging man FWLT – formed hanging man just above its 20 DMA SOHU – formed bearish harami at horizontal resistanceDown Trend SYNA – C pattern breakout, rose above 62.8% Fib retracement Down Trend ISRG – large white candle reversal of Wednesday’s bearish engulfing pattern LZ – formed 3 White Soldiers candle pattern as it rose to its 50% Fib retracement level ADS – broke through Feb 26 high and moved to 30 DMA BA – formed hanging man like candle in bear flag, volume drops almost 50% at 20 DMA resistance Stocks to Watch on Friday Leading Stocks: Holding Above 30 DMA BIDU, CLB, BKC, NFLX, DLTR, HANS, ICE, ALGT, MOS, DLB, JEC, PWR, VPRT, AMZN, MON, AAPL, CTSH, FLS, SYNA, JOYG Moving Above 30 DMA = 15 AMX, APEI, AXYS, BAP, CAM, GMCR, GPRO, JCOM, JOSB, MUR, MYGN, PCLN, PETS, EBAY, WMT Moving Below 30 DMA = 0 Staying Below 30 DMA GME, SLGN, WRC, CPLA, ESRX, GES, PSYS, CHL, DECK, GILD, MHS, TDG, SPWRA, AMED, BIIB, GXDX, PCP, RBN, DV, ESI, VAR, WCG, ATW, BLUD, JW.A, MUR, ORCL, RCI, SWN, GR, FSLR, HLF, STRA, PCR, RIMM, BDX, BYI, PPD, ACN, NIHD, SNHY, K, NTLS, HDB, CBST, SNA, AFAM, MCD, EZPW, WAB, FAS, UYG Thursday’s Action (=> +$0.70 or -$0.70) Moving Up: MA, FSLR, GS, STRA, PCLN, V, ONXX, ESRX, PNRA, KRE, MS, ANR, KBE, GRMN, GLD, GDX, BIDU, HANS, NEM AFAM, GOLD, NIHD, BRCM, INFY, ZION, BTU, FWLT Moving Down: MOS, SCHN, SINA, IPI, SOHU, CF, AGU Intermediate Term Market Trend: Neutral – Nasdaq; Down – DJIA, SPX, RUT Short Term Market Trend: Up