SPX New High Close...SINA Bull Flag Bounce...

The SPX formed a white candle and closed +3.13 at 1,363.61.  The SPX which had been down in the first 30 minutes of trading rallied as the Financials XLF -0.18% bounced up from its early low on Friday.  Friday was a classic selectivity day where the broad markets inched higher, while breadth strengthened modestly and a fair number of stocks had significant moves.  Earnings have been the primary factor in the larger percentage moves up and down this week.

SPX white candle +0.23%

INDU white candle +0.37%

COMPQ white spinning top, just above horizontal resistance, +0.04%

RUT spinning top above horizontal resistance +0.43%

Breadth strengthened on Friday as advancers led decliners 1.87 to 1 on the NYSE and 1.23 to 1 on the NASDAQ …

Exchange       NYSE          NASDAQ

Advancers      1,962             1,437

Decliners        1,045              1,162

Index              Chg.    Close    Direction      Confirmation

VIX                 +0.13      14.75     Up                 No – SPX

SOX               +2.02    449.56     Up                 Yes – COMPQ

Leading stocks > +2% on Friday included SWKS, CSTR, LDK, WLT, SINA, UAL, PCX, SWN, IL, NVDA, CAT, GMCR, FWLT, MOS, UNG, TSL

Losing stocks < -2.0% included DECK, CLF, SWK

I alerted you on Friday morning to the bull flag pattern in SINA.  SINA did bounce and gave a bull flag entry signal.  Did you take the signal?

As I stated last week if the SPY broke through horizontal resistance, I would place a new real time virtual trade.  Conditional order entered to buy 50 May 135 calls at or above 134.25.  Order filled Tuesday at 7:53:51 at 1.30 per contract.  Call closed on Friday at 2.76 for a gain of $1.46 or +112.3%.  Those 50 calls with an original cost of $6,500 gained $7,300 in 4 days. 

I hope you have not missed the significance of what we did and what we forecasted on Monday April 18 with the SPY trade that filled on April 26 closed on Thursday before the three day weekend and with this trade from this past April 26.  Both trades and exit were planned on April 18…you need to understand what we did to take your trading to the next level…  

Positives – SPX, INDU, RUT, SOX, TLT, breadth positive

Negatives –TNX, NDX, VIX

Interest rates TNX -0.16 moved down and bond ETF TLT moved up 29 cents.  Financial stocks XLF moved down 3 cents. The Euro moved down 14 pips to 1.4809 at 5 pm on Friday.

Five of nine sectors moved higher on Friday.  Energy XLE +1.49% and Industrials XLI +0.42% were the strongest sectors.

 

Most of the major earnings are released but a few remain…

Key Earnings this week:

Monday – ADP

Tuesday – CEPH, CMCSA, FSLR, MYL, HSIC, VRTX

Wednesday – ERTS, EXPD, GRMN, NWSA, BMC, WFMI

Thursday – DTV, PCLN, MCHP

Friday – WCRX

SPX

Resistance: 1,367, 1,384

Support: 1,352, 1,344, 1,330

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 +3.38 – white candle confirms inverted hammer

AMZN +0.74 – spinning top above S1

BIDU +0.27 – inverted hammer

GOOG +6.13 – white candle

NFLX -1.70 – doji

PCLN -3.02 – potential shooting star pullback to pennant breakout

QCOM -0.49 – spinning top confirms hanging man, inside day, forming bull flag

NDX 100 stocks stronger than the NDX include CERN, LINTA, NVDA, BRCM, ORCL, CTSH, INTC, EXPE, CSCO, KLAC, INFY, EBAY, GOOG, JOYG and YHOO.

Stocks weaker than the NDX include RIMM, WCRX, FLEX, MSFT, MRVL, DELL, XRAY, SBUX, ISRG, ATVI, NIHD, ERTS, SHLD, AKAM and MU.

Stocks to Watch on Monday

Holding Above 30 DMA
HUM, HLF, SINA, UCO, CSTR, WDC, DHR, MCP, A, WLT, ACN, SOHU, ANF, DLR, CRM, LVS, TIF, V, NDAQ, NYX, SNDK, CIEN, IL, VMW, URE, ATI, TLT, CF, AKS, ARUN, DOW, MHS, UNG, ZION, AMD, CAT, DE, F, FCX, GES, NETL, NVDA, SMH, ESI, JDSU, UNP, FAS, GLW, SWN, VECO, HAS, GMCR

Moving Above 30 DMA = 9

AGU, ATW, IPI, LDK, RVBD, SLB, SWKS, TSL, UAL

Moving Below 30 DMA = 5

CLF, DECK

Staying Below 30 DMA

CHL, NTES, PCX, POT, SWK, CMG, FAZ, FWLT, JEC, VLO, JNPR, SLW, IAG, GS, CDE, STI, TBT, HAS, MOS, X, ICE, CAM, BAC, CRUS

Intermediate Term Market Trend: Up
Short Term Market Trend: Up

Futures Flat...CSTR, CAT, CERN, FSLR, SWKS Gap Up...DECK Down...

Dave will be in the Weekly Wrap at 4:30 pm EDT…See you there…

BMO – ES +2.00 and NQ +1.00 futures are slightly higher about 30 minutes before the open in pre-market trading and point to a flat open… volume is light for pre-market with a similar number of stocks quoting up and down…Financial stocks, XLF is down 2 cents in pre-market…

CSTR, CAT, CERN, FSLR and SWKS are up and DECK is down following earnings after the close on Thursday…

SINA has formed a bull flag...

Key Earnings this week:

Thursday – POT, CSTR, CERN, EXPE, FSLR, KLAC, MSFT, NIHD, VRSN, CROX

TLT is up 10 cents and the Euro is up 28 pips in premarket trading…

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

Dave’s Insight for Friday:  Continue to follow your rules…Stay with the trend… Remember horizontal breakouts often pull back to their and test their breakout…Earnings continue to influence trading this week…Continue to watch XLF for support of the SPX breakout of horizontal resistance…Manage your trades based on the price action you see on the charts…

SPX

Resistance: 1,367, 1,384

Support: 1,352, 1,344, 1,330

Quoting Down – RIMM, DECK, SINA, AGU, CRM, GS, SOHU, URE, WYNN, NFLX, CTXS, VRTX, COST, ESRX, MYL, BIIB, CMCSA

Quoting Up – CSTR, SWKS, CAT, FSLR, CERN, TSL, CLF, DE, VMW, POT, HLF, MOS, WLT, ESI, LDK, HAS, DOW, GMCR, UCO, NTES, SWN, SNDK, CDE, GOOG, JOYG, ROST, INFY, MICC

SPX New High Close as XLU and XLF Lead Sectors...

The SPX formed a hanging man and closed +4.82 at 1,360.48.  Financials XLF +0.80% moved higher giving support to the SPX move on Thursday.  Both the Dow Industrials and the Transportations made a new high close today, confirming the current up trend bull market according to Dow Theory.

Railroad stocks KSU, CSX and UNP rose after NSC +7.98% gapped up following earnings.

SPX white candle +0.36%

INDU white candle +0.57%

COMPQ white spinning top, just above horizontal resistance, +0.09%

RUT white candle, horizontal breakout +0.38%

Breadth weakened slightly on Thursday as advancers led decliners 1.60 to 1 on the NYSE and 1.28 to 1 on the NASDAQ …

Exchange       NYSE          NASDAQ

Advancers      1,851             1,466

Decliners        1,155              1,145

Index              Chg.    Close    Direction      Confirmation

VIX                 -0.73       14.62     Down            Yes – SPX

SOX               -3.10     447.54     Down            No – COMPQ

Leading stocks > +2% on Thursday included IL, TSL, UNG, DLR, URE, CSTR, GMCR, MCP, GES, MHS, HUM

Losing stocks < -2.0% included CAM, MOS, ESI, POT, UAL, DECK, SNDK, SLW, FCX, FAZ

As I stated last week if the SPY broke through horizontal resistance, I would place a new real time virtual trade.  Conditional order entered to buy 50 May 135 calls at or above 134.25.  Order filled Tuesday at 7:53:51 at 1.30 per contract.  Call closed today at 2.17 for a gain of 87 cents or +66.9% in three days.

Positives – SPX, INDU, TRAN, RUT, XLF, SOX, TLT, breadth and sectors positive, Euro

Negatives –TNX, NDX, SOX

Interest rates TNX -0.56 moved down and bond ETF TLT moved up 71 cents.  Financial stocks XLF moved up 13 cents. The Euro moved up 37 pips to 1.4823 at 5 pm on Monday.

All nine sectors moved higher on Thursday.  Utilities XLI +0.88% and Financials XLF +0.80% were the strongest sectors. 

SPX

Resistance: 1,367, 1,384

Support: 1,352, 1,344, 1,330

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 -3.40 – inverted hammer

AMZN -1.56 – potential hanging man above S1

BIDU -2.86 – spinning top

GOOG +0.21 – doji

NFLX -1.59 – inverted hammer, bullish harami

PCLN +10.58 – large white candle, pennant breakout

QCOM -0.60 – potential hanging man, inside day

NDX 100 stocks stronger than the NDX include VRTX, SIAL, RIMM, SHLD, SPLS, KLAC, AMGN, PCAR, NVDA, MU, CSCO, INTC, JOYG, DELL and CELG.

Stocks weaker than the NDX include CTXS, XLNX, ESRX, XRAY, QGEN, LIFE, PCLN, RIMM, ALTR, EXPE, NIHD, NWSA, YHOO, ROST and CHKP.

Stocks to Watch on Friday

Holding Above 30 DMA
HUM, HLF, SINA, UCO, CSTR, WDC, DHR, MCP, A, WLT, ACN, SOHU, ANF, DECK, DLR, CRM, LVS, TIF, V, NDAQ, NYX, SNDK, CIEN, IL, VMW, URE, ATI, TLT, CF, AKS, ARUN, CLF, DOW, MHS, UNG, ZION, AMD, CAT, DE, F, FCX, GES, NETL, NVDA, SMH, ESI, JDSU, UNP, FAS, GLW, SWN, VECO, HAS

Moving Above 30 DMA = 1

GMCR

Moving Below 30 DMA = 4

AGU, IPI, SLB, UAL

Staying Below 30 DMA

ATW, CHL, NTES, PCX, POT, SWK, CMG, FAZ, FWLT, JEC, VLO, JNPR, SLW, TSL, IAG, GS, CDE, STI, TBT, HAS, MOS, X, ICE, CAM, RVBD, BAC, CRUS, SWKS, LDK

Intermediate Term Market Trend: Up
Short Term Market Trend: Up

Futures Point to a Flat Open...CTXS and BIDU Up...AKAM Down...

It’s amazing when you can actually get four hours of sleep. Have a Great Day!

Dave will be in the ITS Trading Room at the market open and the AT Trading Room at 5 pm MDT…See you there…

BMO – ES -1.50 and NQ -4.00 futures are lower about 60 minutes before the open in pre-market trading and point to a flat to lower open… volume is light for pre-market with a similar number of stocks quoting up and down…Financial stocks, XLF is flat in pre-market…

CTXS and BIDU are up and AKAM is down following earnings after the close on Wednesday…

Key Earnings this week:

Wednesday – CTXS, AKAM, EBAY, SBUX, FISV, QGEN, ORLY, BA

Thursday – POT, CSTR, CERN, EXPE, FSLR, KLAC, MSFT, NIHD, VRSN, CROX

TLT is up 9 cents and the Euro is up 21 pips in premarket trading…

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

Dave’s Insight for Thursday:  Continue to follow your rules…Stay with the trend… Remember horizontal breakouts often pull back to their and test their breakout…Earnings will continue to influence trading this week…Continue to watch XLF for support of the SPX breakout of horizontal resistance…Manage your trades based on the price action you see on the charts…

SPX

Resistance: 1,352, 1,367

Support: 1,344, 1,330, 1,321

Quoting Down – AKAM, NFLX, URBN, AAPL, UCO, GMCR, WLT, CAT, ARUN, CMG, UAL, MICC, SBUX, LIFE, FLEX, AMZN, NTAP, VOD, ADP, INFY

Quoting Up – CTXS, BIDU, POT, GES, DOW, AGU, MOS, CLF, VMW, JDSU, CELG, EBAY, XLNX, ILMN, SHLD

SPX Moves Higher as AMZN, VRTX, ALTR, NFLX and XLF Rise...

Dave is traveling home from California this evening after teaching a two day Advanced Technicals workshop.  He will post again on Thursday...

Futures Point to Higher Open...

Dave will be teaching an AT Workshop to more than 250 traders in San Francisco again today. See you there…



BMO – ES +5.00 and NQ +15.00 futures are higher about 20 minutes before the open in pre-market trading and point to a higher open… volume is light for pre-market and more stocks are quoting up than down in pre-market trading…Financial stocks, XLF is up 3 cents in pre-market…

ILMN is up and BRCM is down after earnings…

Key Earnings this week:
Tuesday – AKS, AMZN, BRCM, ILMN, X, F
Wednesday – CTXS, AKAM, EBAY, SBUX, FISV, QGEN, ORLY, BA
Thursday – POT, CSTR, CERN, EXPE, FSLR, KLAC, MSFT, NIHD, VRSN, CROX

TLT is down 41 cents and the Euro is up 21 pips in premarket trading…

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

Dave’s Insight for Wednesday: Continue to follow your rules…Stay with the trend… Remember horizontal breakouts often pull back to their and test their breakout…Earnings will continue to influence trading this week…Continue to watch XLF for support of the SPX breakout of horizontal resistance…Buy where your supposed to buy and sell where you are supposed to sell…

SPX
Resistance: 1,344, 1,352, 1,367

Support: 1,330, 1,321, 1,311


Quoting Down – ISRG, BRCM, PCLN, ATI, SWK, LDK, WDC, X, FCX, TLT, SINA, IL, CHL, AGU, CAM, LIFE, SHLD, APOL, GRMN, ESRX, BIIB

Quoting Up – GOOG, MICC, ILMN, FSLR, AAPL, SOHU, HLF, GLW, MCP, CAT, HUM, UCO, UNP, CIEN, DE, VMW, CLF, SLB, SWL, RVBD, ARUN, ZION, GS, DHR, CDE, NDAQ, LVO, URE, TBT, MOS, MOS, JEC, BIDU, COST, NFLX, ALTR, BBBY, INTU, NIHD, CTRP, AKAM, ADBE

SPX Breaks Out as XLF Rises...NFLX Gaps Lower After Earnings...

The SPX formed a hanging man and closed +11.99 at 1,347.24. Financials XLF +0.62% moved higher giving support to the SPX horizontal breakout on Tuesday.

SPX hanging man, at horizontal resistance +0.90%
INDU hanging man, just above horizontal resistance, +0.93%
COMPQ white spinning top, at horizontal resistance, +0.77%
RUT hanging man, +1.04%

Breadth weakened on Monday as advancers led decliners 2.60 to 1 on the NYSE and 1.74 to 1 on the NASDAQ …

Exchange     NYSE     NASDAQ
Advancers    2,204        1,666
Decliners          845           956

Index     Chg.     Close     Direction     Confirmation
VIX        -0.15      15.62        Down           Yes – SPX
SOX     +7.07    450.48       Up                 Yes – COMPQ

Leading stocks > +2% on Tuesday included AKS, HUM, CRUS, VECO, DHR, LDK, UNP, CAT, NETL, HLF, NVDA, A, UAL, DE, AMD

Losing stocks < -2.0% included SLW, X, VLO, JEC, SOHU, CMG, SINA, VMW, ARUN, PCX, RVBD, FWLT

As I stated last week if the SPY broke through horizontal resistance, I would place a new real time virtual trade. Conditional order entered to buy 50 May 135 calls at or above 134.25. Order filled at 7:53:51 at 1.30 per contract. Call finished Tuesday at 1.54 for an unrealized gain of 24 cents or +18.4%.

Positives – SPX, INDU, COMPQ, NDX, RUT, XLF, SOX, TLT, breadth and sectors strengthened, Euro

Negatives –TNX

Interest rates TNX -0.43 moved down and bond ETF TLT moved up 90cents. Financial stocks XLF moved up 10 cents. The Euro moved up 66 pips to 1.4577 at 5 pm on Monday.

All nine sectors moved higher on Tuesday. Industrials XLI +1.92% and Healthcare XLV +1.17% were the strongest sectors.

Key Earnings this week:
Tuesday – AKS, AMZN, BRCM, ILMN, X, F
Wednesday – CTXS, AKAM, EBAY, SBUX, FISV, QGEN, ORLY, BA
Thursday – POT, CSTR, CERN, EXPE, FSLR, KLAC, MSFT, NIHD, VRSN, CROX

Look for selectivity and rotation to occur with positive earnings attracting big money buying and negative earnings attracting big money selling.

SPX
Resistance: 1,344, 1,352, 1,367
Support: 1,330, 1,321, 1,311

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 -2.59 – black spinning top
AMZN -3.12 – bearish engulfing
BIDU +0.41 – spinning top
GOOG +7.77 – white candle
NFLX -0.55 – earnings gap down, black candle
PCLN -6.62 – bearish engulfing
QCOM +0.40 – white spinning top

NDX 100 stocks stronger than the NDX include VRTX, SIAL, RIMM, SHLD, SPLS, KLAC, AMGN, PCAR, NVDA, MU, CSCO, INTC, JOYG, DELL and CELG.

Stocks weaker than the NDX include NFLX, ESRX, ALXN, AMZN, FFIV, ERTS, ADSK, PCLN, CTRP, CTXS, SRCL, AKAM, AAPL, SBUX and WYNN.

Stocks to Watch on Wednesday
Holding Above 30 DMA
HUM, GMCR, HLF, SINA, UCO, CSTR, WDC, DHR, NTES, MCP, A, WLT, ACN, SOHU, ANF, DECK, DLR, CRM, LVS, TIF, V, NDAQ, NYX, SNDK, CIEN, IL, VMW, SWK, URE, ATI, TLT, CF, AGU, AKS, ARUN, CHL, CLF, DOW, MHS, POT, UNG, ZION, AMD, CAT, DE, F, FCX, GES, IPI, NETL, NVDA, SMH, ESI, JDSU, PCX, UNP
Moving Above 30 DMA = 7
ATW, FAS, GLW,SLB, SWN, UAL, VECO
Moving Below 30 DMA = 5
CMG, FAZ, FWLT, JEC, VLO
Staying Below 30 DMA
JNPR, SLW, TSL, IAG, GS, CDE, STI, TBT, HAS, MOS, X, ICE, CAM, RVBD, BAC, CRUS, SWKS, LDK

Intermediate Term Market Trend: Up
Short Term Market Trend: Up

F, AKS, VECO Up Strong After Earnings...NFLX Lower...

Dave will be teaching an AT Workshop to more than 250 traders in San Francisco tdoay. See you there…

BMO – ES +6.25 and NQ +9.75 futures are higher about 20 minutes before the open in pre-market trading and point to a higher open…Financial stocks, XLF is up 6 cents in pre-market…

F and AKS are up after reporting earnings this morning…VECO is quoting higher after earnings on Monday…NFLX is down after earnings…

Key Earnings this week:


Tuesday – AKS, AMZN, BRCM, ILMN, X, F
Wednesday – CTXS, AKAM, EBAY, SBUX, FISV, QGEN, ORLY, BA
Thursday – POT, CSTR, CERN, EXPE, FSLR, KLAC, MSFT, NIHD, VRSN, CROX

TLT is up 23 cents and the Euro is up 49 pips in premarket trading…

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

Dave’s Insight for Tuesday: Continue to follow your rules…Stay with the trend… Be alert as indexes are at resistance…Earnings will continue to influence trading this week…The SPX will likely need the help of XLF to breakout of horizontal resistance…Buy where your supposed to buy and sell where you are supposed to sell…

SPX
Resistance: 1,344, 1,352, 1,367
Support: 1,330, 1,321, 1,311

Quoting Down – NFLX

Quoting Up – SINA, SOHU, VECO, AKS, X, AAPL, AMZN, BIDU, GOOG, PCLN, QCOM, F

SPX Forms Hanging Man...SOHU, MCP, SINA Rise, NFLX Down After-Hours...

At 8:01:57 MDT I entered a real time virtual trade on a MCP bull flag pattern buying 50 Apr5 11 (weekly) at 1.35. I closed the position at 1:22:45 MDT on a pre-entered limit order selling at 2.70. Invested $6750, sold for a gain of +100% or +$6,750 in a one day trade. MCP formed a bullish engulfing pattern.

The SPX formed a hanging man and closed -2.13 at 1,335.25.

SPX hanging man, at horizontal resistance -0.16%
INDU hanging man, just above horizontal resistance, -0.21%
COMPQ white spinning top, at horizontal resistance, +0.20%
RUT hanging man, -0.17%

Breadth weakened on Monday as decliners led advancers 1.18 to 1 on the NYSE and 1.17 to 1 on the NASDAQ …

Exchange     NYSE     NASDAQ
Advancers    1,390        1,199
Decliners      1,649        1,404

Index    Chg.     Close    Direction   Confirmation
VIX      +1.08       15.77       Up              Yes – SPX
SOX    +0.21     443.41       Up              Yes – COMPQ

Leading stocks > +2% on Monday included SOHU, MCP, UAL, ARUN, SINA, HAS, STI

Losing stocks < -2.0% included CDE, SLW, NTES, IL, A

Positives – TNX, AAPL, BIDU

Negatives –TLT, breadth and sectors weakened

nterest rates TNX -0.37 moved down and bond ETF TLT moved up 35 cents. Financial stocks XLF moved down 2 cents. The Euro moved up 13 pips to 1.4577 at 5 pm on Monday.

Six of nine sectors moved lower on Monday. Utilities XLU +0.12% and Healthcare XLV +0.12% were the strongest sectors.

Key Earnings this week:

Monday – after hours ESRX -6.36%, NFLX -5.27%, VECO +4.75%


Tuesday – AKS, AMZN, BRCM, ILMN, X, F
Wednesday – CTXS, AKAM, EBAY, SBUX, FISV, QGEN, ORLY, BA
Thursday – POT, CSTR, CERN, EXPE, FSLR, KLAC, MSFT, NIHD, VRSN, CROX

Look for selectivity and rotation to occur with positive earnings attracting big money buying and negative earnings attracting big money selling.

SPX
Resistance: 1,344, 1,352, 1,367
Support: 1,330, 1,321, 1,311

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 +2.31 – white candle bounce
AMZN -0.47 – doji
BIDU +3.31 – white candle support bounce
GOOG -0.05 – doji
NFLX -0.55 – hanging man, earnings after the close
PCLN +0.36 – doji, new high close
QCOM -0.12 – white spinning top

NDX 100 stocks stronger than the NDX include EBAY, EXPE, INTC, BIDU, CTXS, AMGN, NTAP, AKAM, SNDK, NVDA, TEVA, YHOO, ADSK, MXIM and MYL.

Stocks weaker than the NDX include VRTX, CTRP, WCRX, FSLR, MU, ISRG, ESRX, SPLS, PCAR, BBBY, FFIV, JOYG, CERN, ADBE and WFMI.

Stocks to Watch on Tuesday
Holding Above 30 DMA
HUM, GMCR, HLF, SINA, UCO, CSTR, WDC, DHR, NTES, MCP, A, WLT, ACN, SOHU, CMG, ANF, DECK, DLR, CRM, LVS, TIF, V, NDAQ, NYX, SNDK, CIEN, IL, VMW, FAZ, SWK, URE, ATI, TLT, CF, AGU, AKS, ARUN, CHL, CLF, DOW, MHS, POT, UNG, ZION, AMD, CAT, DE, F, FCX, GES, IPI, JEC, NETL, NVDA, SMH, ESI, FWLT, JDSU, PCX, VLO
Moving Above 30 DMA = 1
UNP
Moving Below 30 DMA = 3
JNPR, SLB, VECO
Staying Below 30 DMA
SWN, SLW, TSL, IAG, GS, CDE, FAS, STI, TBT, HAS, ATW, MOS, X, ICE, CAM, RVBD, BAC, GLW, CRUS, SWKS, LDK, UAL

Intermediate Term Market Trend: Up
Short Term Market Trend: Up

Futures Point to a Flat Open...SOHU, ISRG, NFLX, PCLN Up...SINA Down...

Dave will be traveling today to teach an AT Workshop in San Francisco.  See you there…

BMO – ES +1.75 and NQ +2.25 futures are slightly higher about 20 minutes before the open in pre-market trading and point to a flat to higher open… volume is light to moderate for pre-market and a similar number of stocks are quoting up and down in pre-market trading…Financial stocks, XLF is flat in pre-market…

SOHU is up after reporting earnings this morning…VECO is quoting down on analyst downgrade…SINA -2.59 on 57Kshares…

Key Earnings this week:

Monday – SOHU, ESRX, NFLX, VECO

Tuesday – AKS, AMZN, BRCM, ILMN, X, F

Wednesday – CTXS, AKAM, EBAY, SBUX, FISV, QGEN, ORLY, BA

Thursday – POT, CSTR, CERN, EXPE, FSLR, KLAC, MSFT, NIHD, VRSN, CROX

TLT is up 4 cents and the Euro is up 48 pips in premarket trading…

NDX leaders NFLX and PCLN are higher in pre-market trading… AAPL, AMZN, BIDU, GOOG and QCOM are flat before the open…

Dave’s Insight for Monday:  Continue to follow your rules…Stay with the trend… Be alert as indexes approach resistance…Earnings will rules trading this week…The SPX will likely nee the help of XLF to breakout of horizontal resistance…

SPX

Resistance: 1,344, 1,352, 1,367

Support: 1,330, 1,321, 1,311

Quoting Down – SINA, ESI, CMG, GS, JNPR, VMW, VECO, TIF, VLO, HLF, CRM, SNDK, DHR, DLR, ALXN, FAST, FFIV, DTV,   

Quoting Up – ISRG, PCLN, NFLX, SOHU, SLW, UCO, CDE, SWKS, POT, CLF, CIEN, WLT, RVBD, CHL, SLB, CAT, NTES, CSTR, CTSH, ILMN, INFY, COST, WFMI, TEVA, VRTX, NTAP, BBBY

INDU New High Close as Euro, Gold, Silver Move Higher...

Have a safe an enjoyable three day Easter weekend...

The SPX formed a white candle that closed +7.02 at 1,337.38.

(click image to enlarge)

SPX white candle, at horizontal resistance +0.53%

INDU white candle, horizontal breakout, new high close, +0.42%

COMPQ gap up, white candle above 30 DMA, +0.62%

RUT white candle, above 30 DMA, +0.73%

Breadth weakened on Thursday as advancers led decliners 2.43 to 1 on the NYSE and 1.48 to 1 on the NASDAQ …

Exchange       NYSE          NASDAQ

Advancers      2,505             1,554

Decliners        1,027             1,048

Index              Chg.    Close    Direction      Confirmation

VIX                 -0.38       14.69     Down            Yes – SPX

SOX               -0.22     443.20     Down            No – COMPQ

The VIX made its lowest close since June 21, 2007 when it closed at 14.72.

Leading stocks > +2% on Thursday included ESI, PCX, RVBD, JDSU, CF, WLT, CSTR, DOW, FCX, UNG, CIEN, VLO, F, FWLT, JEC, SLB, IAG, JNPR

Losing stocks < -2.0% included SINA, MCP, CMG

Positives – SPX, INDU, COMPQ, NDX, RUT, AAPL, AMZN, NFLX, PCLN, QCOM

Negatives –TLT, breadth and sectors weakened

Interest rate TNX +0.00 was unchanged and bond ETF TLT moved down 8 cents.  Financial stocks XLF rose 9 cents. The Euro moved up 45 pips to 1.4564 at 5 pm on Thursday.

Eight of nine sectors moved higher on Thursday with XLU unchanged.  Materials XLB +1.07% and Technology XLK +0.88% were the strongest sectors. 

Key Earnings this week:

Monday – ESRX, NFLX, VECO

Tuesday – AKS, AMZN, BRCM, ILMN, X, F

Wednesday – CTXS, AKAM, EBAY, SBUX, FISV, QGEN, ORLY, BA

Thursday – POT, CSTR, CERN, EXPE, FSLR, KLAC, MSFT, NIHD, VRSN, CROX

Look for selectivity and rotation to occur with positive earnings attracting big money buying and negative earnings attracting big money selling.

Post Earnings Bounce:

(click image to enlarge)

SPX

Resistance: 1,344, 1,352, 1,367

Support: 1,330, 1,321, 1,311

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 +8.29 – earnings gap up

AMZN +2.02 – white candle, bull flag bounce

BIDU -0.66 – spinning top

GOOG -0.63 – spinning top

NFLX +7.79 – large white candle, horizontal breakout

PCLN +12.60 – large white candle, new high close

QCOM +1.67 – earnings gap up, spinning top

NDX 100 stocks stronger than the NDX include BIIB, FFIV, NTAP, NFLX, QCOM, VRTX, APOL, VMED, AAPL, PCLN, CTRP, MXIM, BRCM, EXPD and CMCSA.

Stocks weaker than the NDX include TEVA, LRCX, KLAC, AMGN, GILD, VOD, ALXN, ISRG, MRVL, INTU, RIMM, DLRT, MAT, LLTC and MSFT.

Stocks to Watch on Monday

Holding Above 30 DMA
HUM, GMCR, HLF, SINA, UCO, CSTR, WDC, DHR, NTES, MCP, A, WLT, ACN, SOHU, CMG, ANF, DECK, DLR, CRM, LVS, TIF, V, NDAQ, NYX, SNDK, CIEN, IL, VMW, FAZ, SWK, URE, ATI, TLT, CF, AGU, AKS, ARUN, CHL, CLF, DOW, MHS, POT, UNG, ZION, AMD, CAT, DE, F, FCX, GES, IPI, JEC, NETL, NVDA, SMH

Moving Above 30 DMA = 8

ESI, FWLT, JDSU, JNPR, PCX, SLB, VECO, VLO

Moving Below 30 DMA = 1

SWN

Staying Below 30 DMA

SLW, UNP, TSL, IAG, GS, CDE, FAS, STI, TBT, HAS, ATW, MOS, X, ICE, CAM, RVBD, BAC, GLW, CRUS, SWKS, LDK, UAL

Intermediate Term Market Trend: Up
Short Term Market Trend: Up