INDU New High Close as Euro, Gold, Silver Move Higher...

Have a safe an enjoyable three day Easter weekend...

The SPX formed a white candle that closed +7.02 at 1,337.38.

(click image to enlarge)

SPX white candle, at horizontal resistance +0.53%

INDU white candle, horizontal breakout, new high close, +0.42%

COMPQ gap up, white candle above 30 DMA, +0.62%

RUT white candle, above 30 DMA, +0.73%

Breadth weakened on Thursday as advancers led decliners 2.43 to 1 on the NYSE and 1.48 to 1 on the NASDAQ …

Exchange       NYSE          NASDAQ

Advancers      2,505             1,554

Decliners        1,027             1,048

Index              Chg.    Close    Direction      Confirmation

VIX                 -0.38       14.69     Down            Yes – SPX

SOX               -0.22     443.20     Down            No – COMPQ

The VIX made its lowest close since June 21, 2007 when it closed at 14.72.

Leading stocks > +2% on Thursday included ESI, PCX, RVBD, JDSU, CF, WLT, CSTR, DOW, FCX, UNG, CIEN, VLO, F, FWLT, JEC, SLB, IAG, JNPR

Losing stocks < -2.0% included SINA, MCP, CMG

Positives – SPX, INDU, COMPQ, NDX, RUT, AAPL, AMZN, NFLX, PCLN, QCOM

Negatives –TLT, breadth and sectors weakened

Interest rate TNX +0.00 was unchanged and bond ETF TLT moved down 8 cents.  Financial stocks XLF rose 9 cents. The Euro moved up 45 pips to 1.4564 at 5 pm on Thursday.

Eight of nine sectors moved higher on Thursday with XLU unchanged.  Materials XLB +1.07% and Technology XLK +0.88% were the strongest sectors. 

Key Earnings this week:

Monday – ESRX, NFLX, VECO

Tuesday – AKS, AMZN, BRCM, ILMN, X, F

Wednesday – CTXS, AKAM, EBAY, SBUX, FISV, QGEN, ORLY, BA

Thursday – POT, CSTR, CERN, EXPE, FSLR, KLAC, MSFT, NIHD, VRSN, CROX

Look for selectivity and rotation to occur with positive earnings attracting big money buying and negative earnings attracting big money selling.

Post Earnings Bounce:

(click image to enlarge)

SPX

Resistance: 1,344, 1,352, 1,367

Support: 1,330, 1,321, 1,311

The short term 3 day trend is up.
The six-month trend is up.
The twelve-month trend is up.

Trade with the trend of the chart you are trading.

Bullish entry signal is a bounce off support and a break above the high of the low day or a break out of horizontal resistance.

Bearish entry signal is a break of short term support or a bounce down from the 30 DMA or other resistance.

AAPL +8.29 – earnings gap up

AMZN +2.02 – white candle, bull flag bounce

BIDU -0.66 – spinning top

GOOG -0.63 – spinning top

NFLX +7.79 – large white candle, horizontal breakout

PCLN +12.60 – large white candle, new high close

QCOM +1.67 – earnings gap up, spinning top

NDX 100 stocks stronger than the NDX include BIIB, FFIV, NTAP, NFLX, QCOM, VRTX, APOL, VMED, AAPL, PCLN, CTRP, MXIM, BRCM, EXPD and CMCSA.

Stocks weaker than the NDX include TEVA, LRCX, KLAC, AMGN, GILD, VOD, ALXN, ISRG, MRVL, INTU, RIMM, DLRT, MAT, LLTC and MSFT.

Stocks to Watch on Monday

Holding Above 30 DMA
HUM, GMCR, HLF, SINA, UCO, CSTR, WDC, DHR, NTES, MCP, A, WLT, ACN, SOHU, CMG, ANF, DECK, DLR, CRM, LVS, TIF, V, NDAQ, NYX, SNDK, CIEN, IL, VMW, FAZ, SWK, URE, ATI, TLT, CF, AGU, AKS, ARUN, CHL, CLF, DOW, MHS, POT, UNG, ZION, AMD, CAT, DE, F, FCX, GES, IPI, JEC, NETL, NVDA, SMH

Moving Above 30 DMA = 8

ESI, FWLT, JDSU, JNPR, PCX, SLB, VECO, VLO

Moving Below 30 DMA = 1

SWN

Staying Below 30 DMA

SLW, UNP, TSL, IAG, GS, CDE, FAS, STI, TBT, HAS, ATW, MOS, X, ICE, CAM, RVBD, BAC, GLW, CRUS, SWKS, LDK, UAL

Intermediate Term Market Trend: Up
Short Term Market Trend: Up