Trading Session Today...Roller Coaster...Stocks Mostly Ended Up For Day...

Six of nine sectors moved higher on Monday…XLP, XLK and XLV were the strongest sectors…XLF was the weakest sector.   

Breadth strengthened as advancers led decliners 1.09 to 1 on the NYSE and 1.67 to 1 on the NASDAQ where decliners led advancers.

Monday – strengthened, mixed

Friday - weakened, decliners led

Thursday – strengthened, decliners led

Wednesday – weakened, decliners led

Tuesday – strengthened, advancers led

SPY up .59 at 186.88 on 134.1 million shares

VIX down. 09 at 13.97…

TNX up .11 at 26.77…

TLT down .54 at 110.79...

XLF down .13 at 21.72 on 43.8 million shares

AAPL up 22.15 at 594.09 on 23.8 million shares, above average volume

FB down 1.57 at 56.14…on 107.4 million share, above average volume

Technical Commentary:

DIA + 0.50%, SPY + 0.31%, QQQ + 0.32%, IWM – 0.58%.

DIA, SPY and QQQ each formed an outside day hammer type candle pulling back from a higher high to a higher low in a bull flag pattern.  Outside days are often short-term trend reversal patterns.  IWM formed a higher low pulling back from a similar high, a potential W bottom pattern.

GLW rose while SOHU fell after releasing earnings before the open.  After the close BWLD +7.01, +5.26% gained on a positive earnings reaction.

There are several hundred more earning announcements this week.

Trade with the trend of the chart you are trading and continue to move your protective stops.  Continue to follow your rules.

Short-term up trend Chart Targets:

SPY = 187.17, 189.70…

QQQ = 86.90, 87.88…

IWM = 113.84, 115.25…

Support Levels

SPY = 183.37, 181.38

QQQ = 85.09, 84.16, 83.15, 82.03

IWM = 110.12, 108.91, 106.99

Earnings This Week:

Monday: BWLD, GLW, SOHU

Tuesday:  DDD, ADM, BMY, CHRW, CHKP, COH, CNX, EBAY, ESRX, FISV, MAR, MRK, MGM, NOK, PCAR, PNRA, STX, SWI, SAVE, S, GT, TWTR, X, VLO, VRSK

Wednesday: GRMN, JDSU, MET, TSO, TWX, WDC, YELP

Thursday:  AKAM, ANR, CTRX, CLX, DVA, EXPE, XOM, ESI, K, KRFT, LNKD, MDC, MA, TMUS, TPX, VRTX, VIAB, WYNN

Friday:  LNG

Q1 Earnings Reactions

Positive Reactions – DV, LPNT, ALXN, AET, BIDU, COG, DECK, DHI, DO, FCX, BTU, POT, SWK, SPWR, TKR, AAPL, CTXS, LRCX, NXPI, AET, ANGI, ETFC, DAVE, SWKS, BA, DAL, GILD, NFLX, HOG, RF, TRV, XRX, HAL, HAS, STI, BHI, BX, C, GE, GME, IBKR, INTC, JNJ, KO, MS, SCHW, SNDK, UNP, URI, WFC, YHOO

Negative Reactions – F, STT, ALTR, AMZN, BRCM, CLF, KLAC, MXIM, SIRI, MMM, LLY, V, VZ, LVS, NUE, P, UA, UPX, YNDX, BIIB, CELG, FFIV, QCOM, UA, XLNX, YNDX, ZNGA, PG, AMGN, CREE, JCI, JNPR, NSC, T, VMW, LXK, KMB, ZION, AKS, ATI, ACI, BAC, BBRY, FAST, GOOG, IBM, JPM, LLTC, MU, STLD, UNH

Reversal in progress – ATI, IBM, LLTC, STLD, ZION

Reversal of Initial Reaction – AKS, BAC, MU, PG, ANGI, NFLX, RF, INTC

The SPY Market Forecast green line is flat at 71.

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Setups

H Breakout: GLW, HOG, SPWR, CMCSA, COST, GILD,

Diagonal Breakout:  

Bull Flag: MU, TXN,  

One Day:  

Potential Bullish Divergence:  

Gap Up: BWLD

Gap Down:

Bear Flag: 

At Support: FSLR, IWM, SCHW, ZION, ESI, QIHU, SCTY, SFUN, TSL, TWTR, ADBE, EBAY, FB,  

C- Pattern:   

Moves

New Highs:  

Gap Up: UNG,  

Gap Down: TLT, BAC, SOHU,  

H Breakout: IBM, BBRY, MSFT,     

Diagonal Breakout:  

Breakout Test:

Bull Flag Bounce:   

Bounce: UPL, V, MNST,  

MACD Divergence Bounce: GME, MFRM, ROST,  

Bear Flag:

Support Break: JDSU, JNPR, X, CRM, LNKD, SPLK, WLT, YOKU, AKAM, ESRX, FFIV, NFLX, PCLN, TRIP, WDC, WYNN,

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47 of 100 NDX stocks closed higher on Monday.

Leading NDX 100 stocks included: CHTR, AAPL, MSFT, SPLS, BRCM

Lagging NDX stocks included: BIDU, ILMN, WYNN, DISH, MYL, FB, MU, FOXA, AVGO, NFLX, AMZN

Leading stocks > +2% on Friday included: GME, BBRY, XONE, UNG

Lagging stocks < -2.0% included: FSLR, X, PANW, CREE, JDSU, ETFC, AAL, KKD, CSIQ, TSL, ANGI, CRM, SOHU, LNKD, BAC, YOKU, QIHU