SP500 1,187.44 +9.34 +0.79%
COMPQ 2,429.53 +26.95 +1.12%
Russell 2000 697.65 +13.67 +2.00%
Exchange NYSE NASD
Advancing 2,310 2,048
Declining 775 688
Oil $86.62 +1.83
Gold $1,132.90 +7.80
SOX 377.86 +10.93
VIX 17.02 -0.45
Index Direction Confirmation
VIX Down Yes – SPX
SOX Up Yes – COMPQ
Strongest Sectors: XLE +1.78%…XLB +1.22%...XLY +1.21%
Weakest Sectors: XLV -0.28%...XLP +0.00%...XLU +0.60%
Seven of nine sectors moved higher on Monday. Energy, Materials,
Consumer Discretionary, Technology, and Financials were stronger than the SPX +0.79%.
Sector Watch
Up Trending: XLY, XLI, XLP, XLF
Horizontal Breakout: XLK
Sideways: XLB, XLE, XLV, XLU
Down Trending:
Key Resistance Levels
1,178 = Fib extension
1,200 = Jul 2008 support
1,216 = Fib extension
Key Support Levels
1,155 = 1,119 BO chart target – Dec 23
1,145 = 1,133 BO chart target – Dec 31 Low
The broad indices and the SOX rose to new closing highs. XLK also had a horizontal breakout while XLB is near a potential breakout.
Monday morning's Charts to Watch outperformed the averages.
Look at these Charts
(click image to enlarge)
Guidance:
The SPX closed at 1,187.44 a new high close and a horizontal resistance breakout. Short term target is 1,200, the next resistance level.
Continue to trade with the trend. Be mentally flexible and watch for a potential counter trend pull back if the chart breaks short term support.
The chart target is still 1,255 in approximately nine weeks after the 1,150 breakout on March 16.
The VIX fell -0.45 and did confirm the slightly higher close on Friday.
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.
Adjust your stops according to your rules for up and down trending trades.
AAPL +2.52
QCOM +0.26
GOOG +2.21
BIDU +1.30
NDX 100 stocks stronger than the NDX include WYNN, BRCM, STLD, JOYG, FWLT, ADSK, AKAM, KLAC, EBAY, ALTR, ROST, MRVL, URBN, LINTA, XLNX, DISH, EXPE, CA, LRCX, NIHD, FAST, CTSH, PCAR, BBBY, FLEX, STX, LLTC, MXIM, CHKP, SBUX, WCRX, APOL, VRSN, NVDA, INFY, NTAP, SPLS, ERTS, NWSA, YHOO, CSCO, LOGI, AMAT, DTV, HSIC, PAYX, COST, INTU, AAPL and DELL.
Stocks to Watch on Tuesday
Holding Above 30 DMA
CBST, DLB, NFLX, UAUA, BA, AGU, CREE, WHR, WLT, ICE, PCLN, PCP, GR, BUCY, UNP, CAT, SPG, V, CLF, ESI, URE, DE, UNP, V, BAC, DE, DHR, ESI, URE, HANS, JEC, WMT, GES, GMCR, TDG, FAS, UYG, X, USD, SNDK, DECK, MELI, FLS, HDB, HLF, MYGN, VAR, ATI, WAB, GS, DOW, AMD, AMX, WFC, ACN, CEDC, MA, ZION, BKC, MCD, ALGT, GME, WCG, K, FCX, TSL, BYI, USO, CAM, SYNA, ATW, STT
Moving Above 30 DMA = 3
CHL, SWK, SWN
Moving Below 30 DMA = 2
BDX, IPI
Staying Below 30 DMA
MHS, POT, MOS, HEAT, VPRT, AMED, PWRD, CGA, FUQI, FAZ, UNG, MON
Intermediate Term Market Trend: Up
Short Term Market Trend: Up
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