SPX Highest Close Since Feb 18...Forms Shooting Star...



The SPX made a recent new high close and formed a shooting star on Friday closing up +6.58 at 1,332.41. 

SPX shooting star, close above 30 DMA +0.50%

INDU half white candle, close above 30 DMA, +0.46%

COMPQ black spinning top, close above 30 DMA, +0.31%

RUT black spinning top, close above 30 DMA, +0.38%

Breadth strengthened on Friday as advancers led decliners 2.25 to 1 on the NYSE and weakened slightly on the NASDAQ as advancers led decliners 1.25 to 1 …

Exchange       NYSE          NASDAQ

Advancers      2,092             1,454

Decliners           928              1,164

Index              Chg.    Close    Direction      Confirmation

VIX                 -0.34       17.40     Down            Yes – SPX

SOX               -4.51     432.85     Down            No – COMPQ

Leading stocks > +2% on Friday included NYX, NDAQ, SINA, PCX, LVS, GES, UCO, WDC, POT, NTES, FAS, MOS, ESI

Losing stocks < -2.0% included JDSU, RVBD, CRUS, ICE, SWKS, ARUN, AMD, TSL, VECO, LDK, FAZ, CIEN, NETL

Positives – SPX, VIX, INDU, COMPQ, RUT, breadth remained positive, BIDU, GOOG, NFLX, PCLN

Negatives – SOX, AAPL, NASDAQ breadth weakened, bonds rose

Interest rates TNX closed slightly lower on Friday and bond ETF TLT rose 45 cents.  The Euro rose 75 pips to 1.4232 at 5 pm.

The broad indexes finished the first quarter on Thursday with positive gains.

SPX                 +5.42%

INDU               +6.41%

COMPQ          +4.83%

NDX                +5.46%

RUT                +7.64%

TRAN              +3.78%

SOX                +6.20%

(click image to enlarge)

Top gainers in the NDX included BIDU, NFLX, VRTX, WFMI, PCLN and WYNN.

(click image to enlarge)

Top gainers from our 30 DMA list included GMCR, SINA, ARUN, SOHU, NTES, PCX and NYX.

(click image to enlarge)

SPX

Resistance: 1,330, 1,344

Support: 1,321, 1,311, 1,300

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 -3.95 – bearish engulfing, close below 30 DMA

AMZN +0.00 – black spinning top

NFLX +4.31 – shooting star

QCOM -0.36 – small bearish engulfing

GOOG +5.04 – half white candle, close above 30 DMA

BIDU +1.02 – spinning top, new high close

NDX 100 stocks stronger than the NDX include WYNN, STX, ISRG, SPLS, WCRX, ADBE, JOYG, SRCL, MYL, CTXS, MRVL, DLTR, NWSA, PCAR and CMCSA.

Stocks weaker than the NDX include FFIV, ALTR, FLEX, BRCM, INTC, XLNX, EXPE, MU, NVDA, SNDK, SHLD, DELL, AAPL, KLAC and AKAM.

Stocks to Watch on Monday

Holding Above 30 DMA
HUM, ARUN, GMCR, HLF, HAS, SINA, TLT, SWN, UCO, CAT, CSTR, UNG, WDC, SLW, SWK, ATW, DHR, FCX, NTES, VECO, VLO, MCP, A, CLF, DE, PCX, WLT, ACN,  ATI, F, NETL, SOHU, TSL, UNP, CMG, DOW, SLB, AKS, DECK, DLR, FWLT, JEC, URE, CF, CIEN, CRM, LVS, POT, TIF, V, AGU, ESI

Moving Above 30 DMA = 6

CHL, FAS, MOS, NDAQ, NYX, ZION

Moving Below 30 DMA = 1

CIEN

Staying Below 30 DMA

X, VMW, FAZ, AMD, ICE, IL, CAM, RVBD, JNPR, BAC, GLW, JDSU, TBT, CRUS, SWKS, GES, IPI, MHS, SMH, LDK, SNDK, STI, GS, NVDA, UAL

Eight Week Term Market Trend: Neutral
Short Term Market Trend: Up