SPX, INDU, SOX Down, COMPQ, NDX, TRAN Up as First Quarter Ends...

The SPX formed a black spinning top, bearish harami, inside day on Thursday closing down -2.43 at 1,325.83 and finishing the first quarter with a gain of +5.4%. 

Breadth weakened slightly on Thursday as advancers led decliners 1.41 to 1 on the NYSE and 1.33 to 1 on the NASDAQ …

Exchange       NYSE          NASDAQ

Advancers      1,758             1,507

Decliners        1,246              1,128

Index              Chg.    Close    Direction      Confirmation

VIX                 +0.03      17.74     Up                 Yes – SPX

SOX               -4.02     437.36     Down            No – COMPQ

Leading stocks > +2% on Thursday included JDSU, UCO, CF, AGU, DE, SOHU

Losing stocks < -2.0% included X, UAL, AKS, VLO, LVS, AMD, MOS

SPX

Resistance: 1,321, 1,330, 1,344

Support: 1,311, 1,300, 1,288, 1,281

The short term 3 day trend is up.
The six-month trend is up.
The twelve-month trend is up.

Trade with the trend of the chart you are trading.

Bullish entry signal is a bounce off support and a break above the high of the low day or a break out of horizontal resistance.

Bearish entry signal is a break of short term support or a bounce down from the 30 DMA or other resistance.

AAPL -0.12 – white candle, close above 30 DMA, -9.8% correction from Mar 7

AMZN +0.71 – spinning top, close above 30 DMA, -16.1% correction from Feb 14

NFLX -0.17 – spinning top, -23.6% correction from Feb 14

QCOM +0.32 – spinning top, -16.2% correction from Mar 1

GOOG +4.92 – white candle, -12.6% correction from Feb 18

BIDU +1.43 – white candle, new high close

NDX 100 stocks stronger than the NDX include JOYG, FSLR, SYMC, BIIB, FFIV, INTU, CTXS, CTRP, SNDK, CELG, XRAY, CHRW, MICC, CA and HSIC.

Stocks weaker than the NDX include MRVL, BRCM, URBN, STX, EBAY, WCRX, FLEX, SPLS, VOD, ISRG, INTC, DLTR, VRTX, QGEN and CSCO.

Stocks to Watch on Friday

Holding Above 30 DMA
HUM, ARUN, GMCR, HLF, HAS, SINA, TLT, SWN, UCO, CAT, CSTR, UNG, WDC, SLW, SWK, ATW, DHR, FCX, NTES, VECO, VLO, MCP, A, CLF, DE, PCX, WLT, ACN,  ATI, F, NETL, SOHU, TSL, UNP, CMG, DOW, SLB, AKS, DECK, DLR, FWLT, JEC, URE, CF, CIEN, CRM, LVS, POT, TIF, V

Moving Above 30 DMA = 2

AGU, ESI

Moving Below 30 DMA = 4

MOS, VMW, X, ZION

Staying Below 30 DMA

FAZ, AMD, ICE, IL, CAM, NYX, RVBD, JNPR, BAC, CHL, NDAQ, FAS, GLW, JDSU, TBT, CRUS, SWKS, GES, IPI, MHS, SMH, LDK, SNDK, STI, GS, NVDA, UAL

Eight Week Term Market Trend: Neutral
Short Term Market Trend: Up

Futures Point to a Flat Open...

I'll see you in the Stocks trading room this morning and the AT trading room (formerly Active Investor Talk) this evening...

BMO – ES -1.00 and NQ -1.00 futures are near even about 70 minutes before the open in pre-market trading and point to a flat open… so far this morning volume is very light and a similar number of stocks are quoting up and down in pre-market trading…it looks as if quarter ending window dressing has pushed the market back to recent highs and on Wednesday the SPX actually reached its March 3 high near 1,332 and then pulled back 3 points …

TLT is up 12 cents and the Euro is above the 1.4036 resistance area and up 78 pips in premarket trading…

NDX leaders AMZN, GOOG and NFLX are higher in pre-market trading...…AAPL and BIDU are lower...

Dave’s Insight for Thursday:  Continue to follow your rules.  The short term trend is still up…the SPX is near its resistance and yearly high…at resistance price can pull back as it did slightly on Wednesday or break out…stay with the trend while being prepared for a potential pullback…

SPX

Resistance: 1,321, 1,330, 1,344

Support: 1,311, 1,300, 1,288

Quoting Down – LVS, CF, MOS, MCP, SINA, CRM, CSTR, CHL, POT, AAPL, APOL, WYNN, BIDU, VOD, DLTR

Quoting Up – GOOG, INFY, FFIV, VRTX, CAM, UCO, CMG, SWL, NETL, ATI, NYX, HUM

SPX Closes at 1,328, +8.82 Points...

Dave is traveling home from Dallas after teaching 150 plus traders the skill of Advanced Technical Analysis for the past two days...

It looks as if quarter ending window dressing continues to drive the market higher...

Futures Point to a Higher Open...CEPH Up on Buyout Offer...

BMO – ES +6.00 and NQ +16.00 futures are higher about 50 minutes before the open in pre-market trading and point to a higher open… so far this morning volume is light and a more stocks are quoting up than down in pre-market trading…it looks as if quarter ending window dressing may be pushing the market back to recent highs…

TLT is up 12 cents and the Euro is above the 1.4036 resistance area and down 25 pips in premarket trading…

NDX leaders AAPL, AMZN, BIDU, GOOG, NFLX, PCLN and QCOM are higher in pre-market trading...…

CEPH is up +17.29 after $73 buyout from VRX…

Dave’s Insight for Wednesday: Continue to follow your rules. The short term trend is still up…stocks are pushing higher…more stocks moved above their 30 DMA on Tuesday and pre-market trading points to a continuation of the short term up trend…

SPX
Resistance: 1,321, 1,330
Support: 1,311, 1,300, 1,288

Quoting Down – CAM, FAZ, WDC, UCO, HAS, CF, INFY, LLTC, MICC, VOD

Quoting Up – CEPH, AMZN, PCLN, CMG, SINA, MCP, VMW, CLF, MOS, SOHU, V, WLT, RVBD, SLW, GS, CAT, DECK, CRM, DE, X, TSL, NYX, POT, HLF, GMCR, FAS, CHL, FCX, CSTR, JDSU, PCX, SWN, SLB, CIEN, SMH, NVDA, SWKS, NTES, GOOG, FFIV, BIDU, NFLX, GILD, LRCX, CELG, WYNN, APOL, VRTX, AAPL, QCOM, EBAY, BRCM, CTSH, NVDA

SPX Bounces to New High Close...

Dave taught the first day of a two-day AT Workshop in Dallas on Tuesday...

The SPX formed a large white candle, reversing Monday’s small bullish engulfing pattern closing above its 30 DMA up +9.25 at 1,319.44.  Stocks remain strong moving into the end of the calendar quarter on Thursday.

SPX large white candle, close above 30 DMA, +0.71%
INDU white candle, close above 30 DMA, +0.67%
COMPQ large white candle, close above 30 DMA, +0.96%
RUT large white candle, close above 30 DMA, +0.94%

Breadth strengthened and turned positive on Tuesday as advancers led decliners 2.24 to 1 on the NYSE and 2.02 to 1 on the NASDAQ …

Exchange     NYSE     NASDAQ
Advancers    2,087        1,767
Decliners          928           871

Index     Chg.     Close     Direction     Confirmation
VIX        -1.28      18.16         Down         Yes – SPX
SOX     +4.29    441.04         Up              Yes – COMPQ

Leading stocks > +2% on Monday included SOHU, MCP, AKS, SLB, SINA, CIEN, TIF, CMG, LDK, GES, VLO, CLF, RVBD, WLT, X, GMCR, JEC, DECK

Losing stocks < -2.0% included UNG, ESI, UAL

Positives – SPX, VIX, INDU, COMPQ, RUT, breadth and sectors strengthened, AMZN, BIDU, GOOG, PCLN, QCOM, bonds fell, TNX, Euro

Negatives – 

Interest rates TNX closed higher on Monday and bond ETF TLT fell 71 cents. The Euro rose 28 pips to 1.4111 at 5 pm.

All nine sectors moved higher on Tuesday with Energy XLE +1.22% and Materials XLB +1.05% the strongest sectors.

SPX
Resistance: 1,321, 1,330
Support: 1,311, 1,300, 1,288, 1,281

The short term 3 day trend is up.
The six-month trend is up.
The twelve-month trend is up.

Trade with the trend of the chart you are trading.

Bullish entry signal is a bounce off support and a break above the high of the low day or a break out of horizontal resistance.

Bearish entry signal is a break of short term support or a bounce down from the 30 DMA or other resistance.

AAPL +0.52 –white candle, close above 30 DMA, -9.8% correction from Mar 7
AMZN +5.27 – large white candle, close above 30 DMA, -16.1% correction from Feb 14
NFLX +0.06 – spinning top inside day, -23.6% correction from Feb 14
QCOM +1.73 – large white candle, -16.2% correction from Mar 1
GOOG +6.37 – white candle bullish harami, -12.6% correction from Feb 18
BIDU +2.33 – large white candle, piercing line

NDX 100 stocks stronger than the NDX include FFIV, QCOM, VRTX, AMZN, ILMN, PCAR, EBAY, CEPH, VMED, FLEX, INFY, RIMM, VOD, ORCL and SHLD.

Stocks weaker than the NDX include APOL, SPLX, NVDA, JOYG, INTC, ERTS, STX, MRVL, DELL, BRCM, MAT, ATVI, SBUX and TEVA.

Stocks to Watch on Wednesday
Holding Above 30 DMA
HUM, ARUN, GMCR, HLF, HAS, SINA, TLT, FAZ, SWN, UCO, CAT, CSTR, UNG, WDC, SLW, SWK, ATW, DHR, FCX, NTES, VECO, VLO, MCP, A, CLF, DE, PCX, WLT, ACN, ATI, F, NETL, SOHU, TSL, UNP, CMG, DOW, SLB
Moving Above 30 DMA = 7
AKS, DECK, DLR, FWLT, JEC, URE, X
Moving Below 30 DMA = 0

Staying Below 30 DMA
AMD, ESI, ICE, IL, CAM, NYX, RVBD, JNPR, BAC, TIF, CHL,NDAQ, V, FAS, GLW, JDSU, TBT, AGU, CRUS, SWKS, CIEN, GES, IPI, MHS, MOS, POT, SMH, CF, CRM, LDK, SNDK, STI, GS, LVS, NVDA, UAL, ZION, VMW

Eight Week Term Market Trend: Neutral
Short Term Market Trend: Up

Futures Point to a Slightly Higher Open...

Dave is teaching an AT Workshop in Dallas this morning...

BMO – ES +3.00 and NQ +3.75 futures are higher about 60 minutes before the open in pre-market trading and point to a higher open… so far this morning volume is light and a similar number of stocks are quoting up and down in pre-market trading…it looks as if quarter ending window dressing may still be helping keep the market from rolling over in a broad manner…

TLT is down 21 cents and the Euro is above the 1.4036 resistance area and down 11 pips in premarket trading…

NDX leaders AMZN, GOOG, NFLX and QCOM are higher in pre-market trading...…AAPL is lower… BIDU and PCLN are near even

Dave’s Insight for Tuesday: Continue to follow your rules. The short term trend is still up…even though Friday’s bearish candles were barely confirmed Monday on the SPX and COMPQ…many stocks are still above their 30 DMA…stay prepared for a possible market roll over…

SPX
Resistance: 1,311, 1,321, 1,330
Support: 1,288, 1,281, 1,271

Quoting Down – APOL, AAPL, ESI, ATI, CAM, SLB, UCO, CRM, WLT, NETL, DECK, ACN, RVBD, CMG, SNDK, SLW, EXPE, FSLR

Quoting Up – MCP, JEC, NTES, VRTX, NFLX, AMZN, WYNN, GOOG, HLF, SOHU, ARUN, CHL, SINA, GMCR, NYX, LVS. X, MOS, CAT, INFY, FFIV, EBAY, QCOM

SPX Rolls Over, Barely, Confirms Friday's Shooting Star...

Dave is traveling this evening to teach an AT Workshop in Dallas...

The SPX formed a small bearish engulfing pattern, confirming Friday’s shooting star and closing near its 30 DMA down -3.61 at 1,310.19. The COMPQ also confirmed Friday’s shooting star with a bearish engulfing pattern.

SPX small bearish engulfing, close at 30 DMA, -0.27%
INDU shooting star, close above 30 DMA, -0.19%
COMPQ bearish engulfing, close below 30 DMA, -0.45%
RUT black spinning top, inside day, close above 30 DMA, -0.25%

Breadth weakened and turned negative on Monday as decliners led advancers 1.46 to 1 on the NYSE and 1.38 to 1 on the NASDAQ …

Exchange     NYSE     NASDAQ
Advancers     1,219      1,104
Decliners       1,781      1,520

Index     Chg.     Close     Direction Confirmation
VIX       +1.53      19.44          Up           Yes – SPX
SOX     +0.48    436.75          Up           No – COMPQ

Leading stocks > +2% on Monday included LDK, SLB, NVDA, ARUN, TSL, NETL, NYX, MHS, WLT


Losing stocks < -2.0% included IL, UCO, GES, CF, RVBD, VMW, SLW, CIEN, TIF, PCX, SWN, AMD, JDSU, JNPR

SPX
Resistance: 1,311, 1,321, 1,330
Support: 1,300, 1,288, 1,281

The short term 3 day trend is up.
The six-month trend is up.
The twelve-month trend is up.

Trade with the trend of the chart you are trading.

Bullish entry signal is a bounce off support and a break above the high of the low day or a break out of horizontal resistance.

Bearish entry signal is a break of short term support or a bounce down from the 30 DMA or other resistance.

NDX 100 stocks stronger than the NDX include NVDA, NFLX, FSLR, VRTX, ESRX, KLAC, VOD, LINTA, ILMN, SNDK, CTRP, HSIC, MRVL, EXPD and LRCX.

Stocks weaker than the NDX include EBAY, APOL, AKAM, ORLY, CMCSA, YHOO, NTAP, FFIV, DTV, PCAR, DELL, RIMM, WYNN, URBN and SHLD.

Stocks to Watch on Tuesday
Holding Above 30 DMA
HUM, ARUN, GMCR, HLF, HAS, SINA, TLT, FAZ, SWN, UCO, CAT, CSTR, UNG, WDC, SLW, SWK, ATW, DHR, FCX, NTES, VECO, VLO, MCP, A, CLF, DE, PCX, WLT, ACN, ATI, F, NETL, SOHU, TSL, UNP, CMG, DOW
Moving Above 30 DMA = 1
SLB
Moving Below 30 DMA = 5
AMD, ESI, FWLT, ICE, IL
Staying Below 30 DMA
CAM, URE, DLR, NYX, RVBD, JNPR, BAC, TIF, CHL, DECK, NDAQ, V, FAS, GLW, JDSU, TBT, AGU, CRUS, SWKS, CIEN, GES, IPI, MHS, MOS, POT, SMH, CF, AKS, CRM, LDK, SNDK, STI, GS, JEC, LVS, NVDA, UAL, X, ZION, VMW

Eight Week Term Market Trend: Neutral
Short Term Market Trend: Up

Futures Point to a Higher Open...

BMO – ES +2.50 and NQ +7.25 futures are higher about 20 minutes before the open in pre-market trading and point to a higher open… so far this morning volume is light and a larger number of stocks are quoting up than down in pre-market trading…volume is moderate to light…if Monday’s pre-market is any indication it looks as if quarter ending window dressing may have a greater weight than Friday’s bearish candles…

TLT is down 9 cents and the Euro is at the 1.4036 resistance area and up 5 pips in premarket trading…

NDX leaders AAPL, AMZN, BIDU, GOOG, NFLX, PCLN and QCOM are higher in pre-market trading...…

UCO is down -3.12%...

Dave’s Insight for Monday:  Continue to follow your rules.  The short term trend is up…even though numerous bearish candles appeared on Friday, stay with the uptrend until those bearish candles are confirmed… the SPX, INDU, COMPQ and RUT are above their 30 DMA…many stocks are in a similar technical position…

SPX

Resistance: 1,311, 1,321, 1,330

Support: 1,288, 1,281, 1,271

Quoting Down – UCO, SLW, IL, DLTR

Quoting Up – NFLX, FSLR, GOOG, WLT, SINA, POT, DECK, MOS, AAPL, FFIV, BIDU, ILMN, PCLN, CRM, TSL, CSTR, AGU, CF, NYX, IPI, ARUN, LVS, NVDA, A, SOHU, FCX, GS, MCP, FWLT, WDC, LDK, JDSU, CAT, CMG, WYNN, AMZN, INFY, RIMM, ESRX, NVDA, LINTA, SBUX, BBBY

SPX Rises as Sellers Control Trading After Mid-day...

The SPX continued its support bounce on Friday moving back above its 30 DMA and rising towards its 1,321 resistance level.  The SPX closed up +4.14 at 1,313.80, more than 5 points below its intraday high of 1,319.18.  The SPX, COMPQ and RUT formed a bearish shooting star pattern.  Confimration in an uptrend is a close below Friday's body on Monday, which could be an exit signal on an existing bullish position or an entry signal for a potential bearish postion, depending on a individual's trading rules.

(click image to enlarge)

SPX shooting star, close above 30 DMA, +0.32%

INDU half white candle, close above 30 DMA, +0.41%

COMPQ shooting star, close above 30 DMA, +0.24%

RUT large spinning top, close above 30 DMA, +0.83%

Breadth strengthened slightly on the NYSE and weakened slightly on the NASDAQ on Friday as advancers led decliners 1.93 to 1 on the NYSE and 1.38 to 1 on the NASDAQ …

Exchange       NYSE          NASDAQ

Advancers      1,982             1,527

Decliners        1,023             1,103

Index              Chg.    Close    Direction      Confirmation

VIX                  -0.09      17.91     Down            Yes – SPX

SOX                -1.14    436.27     Down            No – COMPQ

Leading stocks > +2% on Friday included CF, ACN, UNG, VLO, WDC, GES, WLT, MHS, SINA, POT, UNP, CMG

Losing stocks < -2.0% included NVDA, JDSU

Positives – SPX, VIX, INDU, COMPQ, RUT, breadth remained positive, AAPL, BIDU, PCLN, bonds fell

Negatives – GOOG, QCOM, sectors weakened, Euro

Interest rates TNX closed slightly higher on Friday and bond ETF TLT fell 23 cents.  The Euro fell 86 pips to 1.4087 at 5 pm.

Seven of nine sectors moved higher on Friday with Energy XLE +0.90% and Materials XLB +0.54% the strongest sectors.

Closed Virtual SPY Trade

This past week I conducted a Four Day Live training with 55 traders from across the U.S. and Canada.  I shared the following with them and my Thursday evening advanced technical webcast.  One of the trades I placed in our virtual account after the bear flag pattern failed on Wednesday was a Buy 30 SPY Apr 130 Calls at 11:58:41 MDT at 1.91 for a total virtual cost including commissions of 5,775.  On Friday just before the close because of the potential shooting star I closed that trade of 30 Apr 130 Calls at 1:58:29 MDT for 2.84 or a net proceeds of 8,475 after commissions.  That is a virtual net gain of 46.7% in 50 hours.

On Friday the broad indexes formed potential bearish candle patterns without confirmation that we will look for on Monday.  This of course is potentially bearish.  On the positive side next week is the last week of the quarter during which some institutions engage in window dressing which refers to selling losing stocks and buying winning stocks so their portfolios have the strong stocks in them at the end of the quarter.  At times window dressing can keep the market steady to higher which is short term positive.  As a result we suggest that you wait for up trending stocks to actually roll over for confirmation of a potential pull back.

 

Movers and Setups

Strong Moves Up – WDC, UNP, CF, MHS, GES, NIHD

(click image to enlarge)

Potential (unconfirmed) Shooting Star/Tombstone Doji – HUM, ARUN, CAT, VECO, FWLT, MOS, IPI, BIDU, X, SWKS, PCX, DECK AGU, CRUS, SMH, AKAM, CHKP, FISV

(click image to enlarge)

Potential (unconfirmed) Bearish Harami – SLW, MCP

SPX

Resistance: 1,311, 1,321, 1,330

Support: 1,300, 1,288, 1,281

The short term 3 day trend is up.
The six-month trend is up.
The twelve-month trend is up.

Trade with the trend of the chart you are trading.

Bullish entry signal is a bounce off support and a break above the high of the low day or a break out of horizontal resistance.

Bearish entry signal is a break of short term support or a bounce down from the 30 DMA or other resistance.

AAPL +6.57 – large white candle, close above 30 DMA, -9.8% correction from Mar 7

AMZN -0.12 – shooting star, reversed at 30 DMA,  -16.1% correction from Feb 14

NFLX +0.88 – white spinning top inside day, -23.6% correction from Feb 14

QCOM -0.97 – dark cloud cover, -16.2% correction from Mar 1

GOOG -7.15 – black candle confirms hanging man, -12.6% correction from Feb 18

BIDU +1.44 – shooting star did not confirm potential hanging man

NDX 100 stocks stronger than the NDX include NIHD, PCLN, ALTR, WYNN, AAPL, AKAM, STX, ORCL, WCRX, INFY, DTV, VMED, WFMI, CTRP and CMCSA.

Stocks weaker than the NDX include RIMM, NVDA, SBUX, QCOM, MRVL, ADSK, BBBY, GOOG, COST, LLTC, MSFT, ERTS, VRTX, KLAC and ILMN.

Stocks to Watch on Monday

Holding Above 30 DMA
HUM, ARUN, GMCR, HLF, HAS, SINA, TLT, FAZ, SWN, UCO, CAT, CSTR, UNG, WDC, SLW, SWK, ATW, DHR, FCX, IL, NTES, VECO, VLO, MCP, A, CLF, DE, ICE, PCX, WLT, ACN, AMD, ATI, ESI, F, FWLT, NETL, SOHU, TSL, UNP

Moving Above 30 DMA = 2

CMG, DOW

Moving Below 30 DMA = 0

Staying Below 30 DMA

CAM, URE, DLR, NYX, RVBD, JNPR, BAC, TIF, CHL, DECK, NDAQ, V, FAS, GLW, JDSU, TBT, AGU, CRUS, SWKS, CIEN, GES, IPI, MHS, MOS, POT, SLB, SMH, CF, AKS, CRM, LDK, SNDK, STI, GS, JEC, LVS, NVDA, UAL, X, ZION, VMW

Eight Week Term Market Trend: Neutral
Short Term Market Trend: Up

Futures Point to a Slightly Higher Open... More Stocks Up than Down...

BMO – ES +2.50 and NQ +5.25 futures are higher about 20 minutes before the open in pre-market trading and point to a higher open… so far this morning volume is light and a larger number of stocks are quoting up than down in pre-market trading…

TLT is up 41 cents and the Euro is above 1.4036 resistance and down 57 pips in premarket trading…

NDX leaders AAPL, BIDU, GOOG and PCLN are higher...NFLX is lower…

Dave’s Insight for Friday:  Continue to follow your rules.  Be alert for entry signals in the uptrend direction as the SPX is above the 1,300 resistance area and the short term trend is still up… the SPX is at its 30 DMA and is poised to break above…many stocks are in a similar technical position…

F is just one of many C Pattern entries...

SPX

Resistance: 1,311, 1,321, 1,330

Support: 1,288, 1,281, 1,271

Quoting Down – RIMM, NFLX, MICC, URBN, WDC, DECK, SLB, MCP, TVT, ESI, FAZ, CRM, GMCR

Quoting Up – ACN, PCLN, AAPL, WYNN, ISRG, INFY, ORCL, CEPH, SINA, LVS, WLT, CMG, SWKS, JNPR, NTES, RVBD, VMW, TLT, SLW, DE, GS, CLF, POT, ARUN, IL, UAL, ATW, CF, IPI, BIDU, ALTR, FSLR, AKAM, CTSH, JOYG, FAST, FFIV, SIAL, SYMC, LRCX, BBBY, EXPD, CTRP, GOOG, TEVA, SBUX, NTAP, XRAY, SHLD

SPX at 30 DMA...INDU and RUT Close Above 30 DMA...

The SPX continued its support bounce on Thursday moving back above its 1,300 resistance level.  The SPX closed up +12.12 at 1,309.66. 

SPX large white candle, +0.93%

INDU large white candle, close above 30 DMA, +0.70%

COMPQ large white candle, +1.41%

RUT large spinning top, close above 30 DMA, +0.72%

Breadth strengthened on Thursday as advancers led decliners 1.91 to 1 on the NYSE and 1.80 to 1 on the NASDAQ …

Exchange       NYSE          NASDAQ

Advancers      1,962             1,688

Decliners        1,024               934

Index              Chg.    Close    Direction      Confirmation

VIX                  -1.17      18.00     Down            Yes – SPX

SOX             +10.47    437.41     Up                 Yes – COMPQ

Leading stocks > +2% on Thursday included NVDA, LVS, JDSU, MCP, VMW, ARUN, CIEN, CRM, F, WDC, IL, SWKS, ESI, SNDK, AMD, DECK, CAN, SINA, VECO, NETL, GLW, FWLT, CSTR

Losing stocks < -2.0% included SLW, UNG

Positives – SPX, VIX, INDU, COMPQ, RUT, breadth and sectors strengthened, AAPL, AMZN, BIDU, GOOG, PCLN, QCOM, bonds fell, Euro

Negatives – TNX, NFLX

Interest rates TNX closed slightly lower on Thursday and bond ETF TLT fell 70 cents.  The Euro rose 88 pips to 1.4173 at 5 pm.

All nine sectors moved higher on Thursday with Technology XLK +1.56% and Consumer Discretionary XLY +1.47% the strongest sectors.

SPX

Resistance: 1,311, 1,321, 1,330

Support: 1,300, 1,288, 1,281

The short term 3 day trend is up.
The six-month trend is up.
The twelve-month trend is up.

Trade with the trend of the chart you are trading.

Bullish entry signal is a bounce off support and a break above the high of the low day or a break out of horizontal resistance.

Bearish entry signal is a break of short term support or a bounce down from the 30 DMA or other resistance.

AAPL +5.78 – large white candle, -9.8% correction from Mar 7

AMZN +5.78 – large white candle, -16.1% correction from Feb 14

NFLX +0.07 – black spinning top, -23.6% correction from Feb 14

QCOM +1.27 – large white candle, -16.2% correction from Mar 1

GOOG +4.73 – potential hanging man, -12.6% correction from Feb 18

BIDU +0.89 – potential hanging man

NDX 100 stocks stronger than the NDX include MU, NVDA, ADSK, CTRP, YHOO, ILMN, STX, ERTS, CTSH, CTXS, EBAY, AMZN, CELG, RIMM and INFY.

Stocks weaker than the NDX include PAYX, CSCO, FFIV, URBN, SIAL, NFLX, NIHD and LINTA.

Stocks to Watch on Friday

Holding Above 30 DMA
HUM, ARUN, GMCR, HLF, HAS, SINA, TLT, FAZ, SWN, UCO, CAT, CSTR, UNG, WDC, SLW, SWK, ATW, DHR, FCX, IL, NTES, VECO, VLO, MCP, A, CLF, DE, ICE, PCX, WLT

Moving Above 30 DMA = 10

ACN, AMD, ATI, ESI, F, FWLT, NETL, SOHU, TSL, UNP

Moving Below 30 DMA = 0

Staying Below 30 DMA

CAM, URE, CMG, DLR, NYX, RVBD, JNPR, BAC, TIF, CHL, DECK, DOW, NDAQ, V, FAS, GLW, JDSU, TBT, AGU, CRUS, SWKS, CIEN, GES, IPI, MHS, MOS, POT, SLB, SMH, CF, AKS, CRM, LDK, SNDK, STI, GS, JEC, LVS, NVDA, UAL, X, ZION, VMW

Eight Week Term Market Trend: Neutral
Short Term Market Trend: Up

The SPX Went Up...

Futures Point to a Higher Open as Wednesday's Upward Reversal Continues...

BMO – ES +8.50 and NQ +19.25 futures are higher about 90 minutes before the open in pre-market trading and point to a higher open… SPX downward momentum reversed on Wednesday and formed a hammer pattern as the markets consolidated gains of the past week…so far this morning volume is very light and a much larger number of stocks are quoting up and down in pre-market this morning…

TLT is down 34 cents and the Euro is above 1.4036 resistance and up 45 pips in premarket trading…

NDX leaders AAPL, AMZN, BIDU, GOOG, NFLX, PCLN and QCOM are higher...ALL Nasdaq leaders are higher…

Dave’s Insight for Thursday:  Continue to follow your rules.  Be alert for entry signals in the uptrend direction as the SPX is just below the 1,300 resistance area and is poised to breakout above this morning…The INDU and RUT are right at their 30 DMA and the SPX is just below its 30 DMA…many stocks are in a similar technical position…

SPX

Resistance: 1,300, 1,311, 1,321

Support: 1,288, 1,281, 1,271

Quoting Down – ATI, TLT, FSLR, SHLD

Quoting Up – PCLN, AAPL, NFLX, FFIV, GOOG, AMZN, ISRG, WYNN, CRM, VMW, SINA, NTES, UCO, CAT, CMG, GS, SLW, MCP, DE, HLF, RVBD, POT, LVS, CF, SOHU, ICE, X, SNDK, FCX, NYX, WLT, SLB, FAS, DECK, QCOM, CTXS, MU, ROST, TEVA, SNDK, RIMM, ORCL