SP500 1,206.78 +15.42 +1.29%
COMPQ 2,511.92 +40.19 +1.63%
Russell 2000 737.74 +15.35 +2.12%
Exchange NYSE NASD
Advancing 2,325 2,040
Declining 744 706
Oil $85.17 +1.95
Gold $1,168.40 +2.90
SOX 393.97 +5.34
VIX 18.44 -2.64
Index Direction Confirmation
VIX Down Yes – SPX
SOX Up Yes – COMPQ
Key Resistance Levels
1,216 = Fib extension
1,220 = Sep 25, 2008 resistance
Key Support Levels
1,200 = Jul 2008 support
1,178 = Fib extension
SPY, DIA, QQQQ and IWM had bull flag bounces on Thursday. Additionally ACN, BA, BYI, CAT, CRM, DHR, FLS, GR, MCD, NFLX, PCLN, PCP, SPG, SWK, UNP, URE, WFC, WHR and ZION also bounced in their bull flag pattern.
Look at these Charts
(click image to enlarge)
Look at these Charts
(click image to enlarge)
Thursday – AET, AEM, AGN, AMX, BDX, BMY, CAM, CELG, CVX, XRAY, DLB, EXPE, XOM, JRCC, KLAC, MXIM, WFR, MET, PG, SPG, SWN, VPRT
Friday – AVP, DISCA
Guidance:
Upward momentum continued on Thursday confirming the bullish harami on the SPX and the inside day, hammer or bullish harami on many charts inside a bull flag pattern. You may have traded a support bounce on up trending stocks making higher highs and pulling back to higher lows on Thursday as there were dozens if not hundreds of opportunities to do so.
The SPX broke through it 1,200 resistance again on Thursday.
Continue to trade with the trend. Be mentally flexible and be willing to trade when your entry and exit signals appear.
The intermediate term chart target is still 1,255 in approximately nine weeks after the 1,150 breakout on March 16.
The VIX fell -2.64 and did confirm the move up on Thursday.
The short term trend is up.
The four-month trend is up.
The twelve-month trend is up.
Continue to focus on and trade setups on the charts of the stocks you watch trade with the trend and follow your rules.
Continue to adjust stops according to your rules.
AAPL +7.04
QCOM +0.16
GOOG +2.81
BIDU +88.49
NDX 100 stocks stronger than the NDX include: AKAM, FSLR, BIDU, ILMN, NIHD, ORLY, CMCSA, WYNN, EXPE, PCLN, SHLD, HANS, LIFE, CELG, LINTA, KLAC, XRAY, MICC, NVDA, ATVI, PCAR, FAST, AAPL, RYAAY, VRTX, LRCX, VRSN, DTV, WCRX, ISRG, DISH, EXPD, BIIB, JBHT, FWLT, FLEX, BBBY, CTSH, MXIM, SIAL, LBTYA, GENZ, CSCO, SRCL and ROST.
Stocks to Watch on Friday
Holding Above 30 DMA
NFLX, WHR, UNP, CAT, V, URE, DHR, JEC, CRM, USD, SNDK, FLS, AMD, ZION, MCD, GME, TSL, BYI, SYNA, ATW, SWK, ACN, HLF, ICE, PCLN, PCP, SPG, DECK, GES, GR, BA, HANS, CREE, DOW, UAUA, WFC
Moving Above 30 DMA = 8
BAC, BKC, AMX, FAS, MA, MYGN, USO, UYG,
Moving Below 30 DMA = 4
CAM, CHL, SWN, UNG
Staying Below 30 DMA
ATI, FAZ, DE, BUCY, WLT, CLF, MHS, WCG, ESI, GMCR, GS, FCX, X, WMT, PWRD, AGU, IPI, POT, MOS
Intermediate Term Market Trend: Up
Short Term Market Trend: Up
1 comment:
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