SPX Pauses After Large White Candle on Friday...Holds Above S1...

Four of nine sectors moved higher on Monday…XLY, XLU and XLK were the strongest sectors while XLB was the weakest sector.  Oil futures fell -1.12 to close at 37.37. 

                         

Breadth weakened as decliners led advancers 1.27 to 1 on the NYSE and 1.19 to 1 on the NASDAQ.

Monday – weakened, decliners led

Friday – strengthened, advancers led

Thursday - weakened, decliners led

Wednesday – strengthened, advancers led

Tuesday – weakened, decliners led

SPY down .26 at 202.50 on 73.6 million shares, 42% below average volume

VIX up .42 at 16.92…

TNX down .14 at 19.63…

TLT up .40 at 127.76…on 5.1 million shares, 44% below average volume

XLF down .07 at 22.42…on 44.9 million shares, 38% below average volume

AAPL up .26 at 102.52 on 25.0 million shares, 33% below average volume

FB up .48 at 109.89 on 17.2 million shares, 52% below average volume

Technical Commentary:

QQQ +0.17%, DIA +0.10%, SPY -0.13%, IWM -0.26%.

The SPX paused on Monday and stayed above its Mar 4 horizontal resistance, old resistance becomes new support and above Friday’s S1.  Many horizontal breakout setups and bull flag setups are on the charts today.

NDX point leaders GILD, AMZN, GOOG, FB, TSSLA, MSFT, SBUX, CTSH, ATVI, MAR, ADBE, ESRX, ISRG, EBAY, PCAR and TRIP.

NDX percentage gainers TRIP, TSLA, MAR, ATVI, ISRG, CTSH, LBTYA, CTRP, PCAR, SBUX and NCLH.

Trade what you see, not…

Stocks below support should generally be traded bearishly until a reversal pattern forms.

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Strong Stocks: Setups and Moves You Can Use

Bull Flag Setups include:  FOSL, WMB, ESV, NFLX, GPRO, TASR, DD, GE, JPM, RIG, QRVO, PG, XOM

Bull Flag Bounces include: SBUX, DIS, GME, CMCSA, CLF,

Horizontal Breakout Setups include: IWM, XLB, XLE, XLF, XLI, XLV, GILD, CAVM, FCX, ATVI, LNC, WRK, PYPL, ROST, STX, WDC, C, WFC, SCHW, ETFC, MS, WMT, INTC, GT, BIDU, MYL, TSO, ZION, AAPL, ADBE, AMZN, EA, PYPL, CF, ROST, CAT, GS, NKE, MS, CYBR, MU,

Horizontal Breakouts include: QQQ, NXPI,

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YTD:

SPX Leaders:  CNX, FCX, KORS, NEM, URBN, FOSL, CTL, TSN, KMI, M (264, -5, > 10p 82)

SPX Losers: WMB, ESV, MPC, RCL, ADS, LNC, TXT, CBG, BAC, MS

NDX Leaders:  MAT, FAST, PCAR, PYPL, ISRG, ROST, FISV, ORLY AMAT, KHC (43, +2)

NDX Losers:  INCY, VRTX, ENDP, REGN, ALXN, TRIP, MU, ILMN, ESR, BMRN

DJI Leaders:  VZ, WMT, MMM, CAT, UNH, XOM, KO, JNJ, CVX, MCD (15, -1)

DJI Losers: GS, AXP, BA, JPM, INTC, V, DIS, PFE, MSFT, DD 

Remember:  “It’s a market of stocks, not just a stock market.”

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

The SPX MFC green line is pointed up at 92. 

42 of 100 NDX stocks closed higher and one was unchanged on Monday.

89 NDX stocks are above their 30 DMA.

NDX Stocks to Watch on Tuesday:

Moving Above 30 DMA = 1

SBUX

Moving Below 30 DMA = 2

CERN, TMUS

6-month Intermediate Term Market Trend: Neutral

3-day Short Term Market Trend: Up