Momentum Slows on Friday...

We need YOUR help...Thank you to the few who have responded...every response so far has been helpful...we are however looking for a representative sample from our readers, which we have not yet received...Please take a moment and share with us: What information in Chartsignals do YOU find of value right now? If you are reading Chartsignals please take a moment to let us know, so we can keep what helps YOU, by emailing us at: chartsignals@yahoo.com - Thank you, for helping us to help you! DJIA + 53.92, +0.75% SP500 + 5.81, +0.77% NASDAQ Comp. + 5.40, +0.38% Russell 2000 + 2.97, +0.76% Exchange NYSE NASD Advancing 2,427 1,584 Declining 1,329 1,180 Oil $46.25 -$0.78 Gold $930.10 +$6.10 SOX 220.11 +2.74 VIX 42.36 +1.18 The VIX moved up and did not confirm the move up in the SPX on Friday. Strongest Sectors: XLV +3.34%...XLP +2.87%...XLU +1.37% Weakest Sectors: XLE -0.91%...XLK +0.00%...XLI +0.17% Sector Watch Up Trending: Sideways: XLE, XLY, XLV, XLK Down Trending: XLF, XLP, XLI, XLB, XLU Stocks rose for the fourth straight day on Friday. The financial sector squeezed out a small gain as some traders took profits on this week’s strong run up. JPM joined C and BAC in stating they made money in the first two months of 2009. Also C came out to state it will not need additional money from the government. Technically, the indices had another small range day on Friday, similar to Wednesday. Watch Monday to see if prices move higher or if they break Friday’s support low and if Friday becomes the high day in this week’s counter trend rally. The Financial Sector XLF rose just 0.61%. Leading financial stocks included C, MMC, MS, PRU, TRV, RF, ZION, MET, ICE, JPM, GS, SCHW, CB, AOC, ALL and ETF FAS; all moved up more than 1.00%. Remember that all of these stocks are in intermediate term down trends except GS and MS which are in an uptrend and ICE and AOC which are in a sideways trend. A support bounce in a down trend is a counter trend move, in an up trend is a bull flag support bounce and in a sideways trend is a horizontal support bounce. AMZN formed a dark cloud cover found support at its horizontal resistance level of 67.50…Chart target is 74+. PCLN formed a doji that confirmed Thursday’s bullish harami. BIDU formed a hanging man and a new high close. Index Commentary The DJIA formed a white spinning top at the 38.2% Fib retracement (Feb 9) and just above its 20 DMA. This could be a high day in the counter trend bounce. The SPX formed a white spinning top between the 38.2% and 50% Fib Retracements (Feb 9) and between its 20 and 30 DMA. This could be a high day in the counter trend. The Nasdaq formed a hanging man at its 50% Fib retracement (Feb 9) and at its 30 DMA. This could be a high day in this counter trend move. The RUT formed a hanging man at its 38.2% Fib retracement (Feb 8) and just above its 20 DMA. This could be a high day in this counter trend move. At the Open on Monday Counter Trend SPY – formed a white spinning top, potential high day in bear flag NSC – formed a black spinning top, potential bear flag SCHN – closed near Thursday’s low after breaking low of the high day on Thursday Up Trend HANS – formed hanging man above horizontal resistance CF – white spinning top did not confirm Thursday’s hanging man/bearish harami just above horizontal resistance breakout CERN – formed dark cloud cover inside AKAM – black spinning top Sideways Trend OSIP – broke through 30 and 50 DMA RE – formed white hanging man at 20 and 30 DMA FWLT – gapped up and formed black shooting star just above 30 DMA SOHU – formed bearish harami for the second straight day at horizontal resistance SYNA – formed black spinning top above 30 DMA and inside day Down Trend ISRG – formed a hanging man LZ – formed a hanging man after 3 White Soldiers near its 50% Fib retracement level ADS – formed a dark cloud coverBA – formed a black spinning top in bear flag at 20 DMA resistance Stocks to Watch on Monday 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, AMX, APEI, AXYS, BAP, CAM, GMCR, GPRO, JCOM, JOSB, MUR, MYGN, PCLN, PETS, WMT Moving Above 30 DMA = 2 FSLR, SNHY Moving Below 30 DMA = 1 EBAY 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, HLF, STRA, PCR, RIMM, BDX, BYI, PPD, ACN, NIHD, K, NTLS, HDB, CBST, SNA, AFAM, MCD, EZPW, WAB, FAS, UYG Friday’s Action (=> +$0.70 or -$0.70) Moving Up: BIDU, FSLR, AFAM, AEM, GS, MS, MA, CF, ESRX, NEM, GG, HANS Moving Down: MON, V, CLF, CNX, NDAQ, MOS, SCHN, X, POT, STRA Intermediate Term Market Trend: Neutral – Nasdaq; Down – DJIA, SPX, RUT Short Term Market Trend: Up