Futures Bounce A Lot and End Near Flat

We have received a few great questions...so beginning Monday...we start with Great Answers. Every single reader of this blog has at least one unanswered technical question about the market or a stock...now take the time to email us so that we can help you take your trading to the next level... New Daily Feature Coming as soon as we hear from you… Ask a technical market or stock question… Email us a great question and you’ll get a great answer… Email us at chartsignals@yahoo.com DJIA + 32.50, +0.49% SP500 + 0.83, +0.12% NASDAQ Comp. - 5.74, -0.44% Russell 2000 + 1.60, +0.46% Exchange NYSE NASD Advancing 1,401 1,381 Declining 2,376 1,410 Oil $45.52 +$1.91 Gold $942.10 +$15.10 SOX 195.01 -2.24 VIX 49.33 -0.84 The VIX moved down confirming the move up in the SPX on Friday. From a practical perspective the change in both the SPX and VIX was not significant. Strongest Sectors: XLV +1.46%...XLB +1.27%...XLE +1.09% Weakest Sectors: XLI -1.08%...XLF -0.96%...XLU -0.13% Sector Watch Up Trending: Sideways: XLE, XLU, XLY, XLV, XLK Down Trending: XLF, XLP, XLI, XLB Watch for intra-day posts Monday morning... The weak Unemployment Report failed to knock the market down at the open but the market drifted down during the day to make a new low. Buyers stepped in late on Friday and the broad indices rallied to close near even. The Nasdaq was weaker all day long and was the only broad index of the four to close lower. Oil and gold rallied while semiconductors move slightly lower. Energy which had been very strong in early trading cooled off a bit in the afternoon but finished stronger than the broad indices for the day. AMZN sold off at 65 and rallied at 60 traveling the full range of its horizontal flag on Friday. PCLN formed a hammer in its bull flag. BIDU fell from 164 and then rallied from 151. Each of these stocks traded in a wide range from resistance to support on Friday. Index Commentary The SPX, DJIA, and RUT all formed doji and the Nasdaq formed a spinning top on Friday. They all traded above the mid-section (R1) of Thursday’s large black candle and then closed below. Watch this short term resistance area on Monday. At the Open on Monday Counter Trend SPY – unconfirmed bullish harami NSC – unconfirmed bullish harami SCHN – at support, potential double bottom Up Trend HANS – at resistance, break out or bounce down? SGP – support bounce bullish engulfing like pattern TEVA – bull flag support bounce Sideways Trend OSIP – at support, broke the high of the low day RE – at support, bullish engulfing FWLT – at support, broke the high of the low day Down Trend SYNA – at 20 DMA resistance, hanging man ISRG – large white candle, lower high, still below 20 DMA Stocks to Watch on Monday Leading Stocks: Holding Above 30 DMA VPRT, AMZN, BIDU, CLB, PCLN, BKC, NFLX, DLB, DLTR, HANS Moving Above 30 DMA = 1 ICE Moving Below 30 DMA = 2 GMCR, MOS Staying Below 30 DMA ALGT, GME, JCOM, SLGN, WRC, FLS, ICE, MYGN, CPLA, ESRX, GES, PSYS, CHL, DECK, GIL, MHS, TDG, SPWRA, AMED, APEI, BIIB, GPRO, GXDX, MON, PCP, RBN, AAPL, CTSH, DV, ESI, VAR, SYNA, WCG, ATW, BLUD, JW.A, MUR, ORCL, RCI, SWN, GR, FSLR, HLF, EBAY, AMX, STRA, PCR, PWR, RIMM, BDX, BYI, CAM, PPD, ACN, NIHD, SNHY, JOYG, K, JOSB, JEC, PETS, NTLS, BAP, HDB, CBST, SNA, AFAM, EZPW, WAB, AXYS Friday’s Action (=> +0.70 or -0.70) Moving Up: FWLT, PCLN, HANS, ESRX, NIHD Moving Down: GS, BIDU, MA, POT, V, IPI, NEM, FSLR, AGU, AEM, MOS, ANR, STRA, MS, BTU Intermediate Term Market Trend: Neutral – Nasdaq; Down – DJIA, SPX, RUT Short Term Market Trend: Down