SP500 1,212.28 -5.23 -0.43%
COMPQ 2,522.95 -7.20 -0.28%
Russell 2000 738.86 -3.06 -0.41%
Exchange NYSE NASD
Advancing 1,435 1,329
Declining 1,624 1,428
Oil $84.20 -0.92
Gold $1,153.50 +0.40
SOX 400.81 +0.39
VIX 17.47 +0.85
Index Direction Confirmation
VIX Up Yes – SPX
SOX Up No – 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
The SPX paused on Monday as stocks were mixed with strong stocks continuing to make big moves and many stocks pausing and pulling back. WHR and NFLX also had big moves today.
Look at these Charts
(click image to enlarge)
Key Earnings to Watch:
Monday – CNI, HUM, JEC, KSU, EL, LXK, MHP, NOV, ODP, RSH,TSM, TXN,
Tuesday – MMM, ADP, AFL, DOW, DD, F, FUQI, JBLU, LIFE, MHS, NEM, NSC, NUS, PNRA, LCC, SWK, UAUA, X
Wednesday – AKAM, ATI, APA, BIDU, BKC, CME, CERN, CLF, COP, ESRX, DAVE, FSLR, GMCR, HES, ILMN, K, LOGI, ORLY, OII, POT, RCL, HOT, VAR, VRSN, V, WLT, WLP, XLNX
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:
The SPX closed lower on Monday as the market took a rest with decliners leading advancers by a small margin. A potential bearish harami could lead to a short term exit for some short term traders.
There are a large number of pull back setups on the charts on Monday.
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 rose +0.85 and did confirm the lower close on Monday.
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 -1.33
QCOM -0.14
GOOG -13.35
BIDU -4.91
NDX 100 stocks stronger than the NDX include: JOYG, PCLN, WYNN, RIMM,AMZN, EXPE, URBN, ADSK, AKAM, BRCM, XRAY, SPLS, DTV, NVDA, CTXS, BBBY, INFY, NWSA, CMCSA, ORLY, LLTC, MSFT, GRMN, SBUX, CA, SHLD, KLAC, CSCO, ALTR, SRCL, MXIM, DISH, PAYX, FISV, MCHP, EBAY and PCAR.
Stocks to Watch on Tuesday
Holding Above 30 DMA
NFLX, UAUA, CREE, WHR, BUCY, UNP, CAT, V, URE, DE, BAC, DHR, JEC, FAS, UYG, USD, SNDK, FLS, DOW, AMD, AMX, WFC, MA, ZION, BKC, MCD, GME, TSL, BYI, CAM, SYNA, ATW, CHL, SWK, ACN, HLF, ICE, PCLN, PCP, WLT, SPG, DECK, GES, GR, BA, ATI, SWN, CLF, HANS, UNG
Moving Above 30 DMA = 0
Moving Below 30 DMA = 3
MHS, WCG, USO
Staying Below 30 DMA
ESI, GMCR, GS, FCX, X, WMT, PWRD, AGU, MYGN, IPI, POT, MOS, FAZ
Intermediate Term Market Trend: Up
Short Term Market Trend: Up
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