SPY Bounces as March Begins...

Eight of sectors moved higher on Friday with XLV, XLP and XLF were the strongest sectors …XLI was the weakest sector…. 

Breadth strengthened as advancers led decliners…1.29 to 1 on the NYSE and 1.26 to 1 on the NASDAQ…

Friday – strengthened, advancers led

Thursday – weakened, advancers led

Wednesday – strengthened, advancers led

Tuesday – strengthened, advancers led

Monday – weakened, decliners led

SPY up 50 cents at 152.11...volume 170.6 million shares…

VIX down -0.15 at 15.36
TNX down .35 at 18.53…

TLT up 64 cents at 118.90…
XLF up 5 cents at 17.64…volume 51.7 million shares

AAPL down -10.93 at 430.47…volume 19.7 million shares…

FB up 53 cents at`27.78…on volume of 54.1 million shares…

Technical Commentary:

Stock futures moved lower before the open on Friday and reversed higher after the first 10 minutes of trading.  After regaining Thursday’s close in just over one hour the SPY traded in a one dollar range and closed up 50 cents and formed a lower high and lower on Friday compared with Thursday. 

IWM +0.45%, QQQ +0.42%, SPY +0.33%, and DIA +0.33% moved higher.  All four ETFs did NOT confirm the potential shooting star candles that formed on Thursday.  The QQQ gained notwithstanding AAPL’s move lower on the strength of 68 of its other stocks moving higher.

AAPL -10.93 made a new low.  FB rose 53 cents and confirmed Thursday’s white hammer like candle and confirmed its MACD bullish divergence.

The Euro moved 31 pips lower and closed at 1.3025 on Friday and is at its multi-month 1.30 support area.

Trade what you see on the chart of your position. The trend is in consolidation and traders should lock in profits when targets are reached. As always look for re-entry according to your rules.

The SPY’s trend is neutral in a sideways consolidation currently appearing as a symmetrical triangle.  XLB continues negative; XLE, XLF, XLI, XLY and XLK are neutral with XLP, XLU and XLV positive.  XLE, XLF, XLK, XLP, XLV and XLB did not confirm Thursday’s potential shooting star patterns on Friday.  XLI did confirm its shooting with a lower close on Friday.

SSYS reports earnings on Monday.

The Market Forecast Green Line barely moved up on Friday and is below the upper reversal zone. 

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Setups

Breakout:  TXN, Z, ANGI, ILMN, WHR, MDRX, VMI, YELP, TSCO, AIZ, WHR, VMI, JPM, CRR, CPA, MDRX, CBOE, MWV, MCHP, ATVI, TW, CLB, ORLY, CBG

Diagonal Breakout: P, CSTR, ICE, BBRY, PBI, HES, GME, SINA, CTXS,

Bull Flag:  CLR, PCLN, ZNGA, FTNT, STZ, AOL, AVP, MJN, PM, KORS, ADM, STRZA, NTES, JDSU, SPWR, GES, IM, AVX, PRGO, SHLD

Potential Bullish Divergence:  BBRY, EQIX

Gap Up:

Gap Down:

Bear Flag:  LVS, CTL, RAX, NBR, PPO, AVGO, ROST, WDC, STX, DNDN, DDD, SSYS, MGM, A, LIFE, GRMN, NDSN, DDS, IPI, POT, MOS, MON, AGU, CORN, DE, CCL, SLB, STI, EXPD, WFM, SIRI, FOSL

Break of Support:  AMZN, HSP, CNX, OC, QCOM, PAY

Moves

Highlights: NFLX, NTES, TPX, BBRY, FB, P, ANGI, Z

Gap Up:  DECK, CRM,

Gap Down:  MDR, FSLR, CRI,

Breakout: SPLK, LNKD, AL, SLM, TPX, AWAY, AMGN, FIVE, HPQ, COG,

 

Bounce:  GNC, MBI, NFLX, HLF, IBM, BPOP, FAST, CNW, TEX, ZION, PTEN, XRX, FTI, PMCS,

MACD Divergence Bounce:  FB, CTSH, ORCL, VECO, STX, RCL, WHR

Bear Flag:  SWKS, ULTA, AKAM

Support Break:  JRCC, TFM, ACI, ANR, FFIV, WLT, BTU, CLF, INT

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68 of 100 NDX stocks closed higher on Friday…

Leading NDX 100 stocks included:  ISRG, YHOO, REGN, LIFE, CELG, GRMN, STRZA, WDC, CTRX, DISCA

Lagging NDX stocks included:  AAPL, GOLD, XLNX, AVGO, MU, SHLD, VRTX, SPLS, CHKP, PCAR

Leading stocks> +2% on Friday included: DECK, GRPN, CRM, YELP, TIF, UAL, GMCR, VMW, WDC

Lagging stocks < -2.0% included:  MCP, ANR, AKS, SWKS, CRUS, CIEN, X, VECO

Stocks to Watch on Monday…

Holding Above 30 DMA = 51
VMED, ADI, LLTC, DELL, NWSA, AMAT, CHKP, FAST, MCHP, SNDK, STRZA, ADP, SYMC,GILD, HSIC, ATVI, CERN, GOOG, ORLY, BIIB, MAT, PAYX, PRGO, YHOO, ALTR, DLTR, CTRX, ESRX, MNST, AMGN, DISCA, MU, SBAC, TXN, ADBE, BRCM, CELG, CMCSA, FISV, INTU, NVDA, QCOM, MSFT, MYL, SRCL, VRTX, MDLZ, LBTYA, VRSK, WDC, SIAL

Moving Above 30 DMA = 5          

CTSH, CTXS, PCLN, REGN, VIAB                                                            

Moving Below 30 DMA = 3           

KLAC, PCAR, XLNX

                                                                            

Staying Below 30 DMA

CA, ISRG, SHLD, SPLS, LINTA, MXIM, ADSK, CSCO, EBAY, FFIV, NTAP, XRAY, AMZN, AVGO, BBBY, EQIX, FOSL, GRMN, LIFE, ORCL, ROST, SIRI, COST, WYNN, EXPE, SBUX, STX, VOD, WFM, EXPD, DTV, NUAN, AKAM, GOLD, BMC, CHRW, BIDU, ALXN, FB, INTC, AAPL

Four Week Intermediate Term Market Trend: Neutral

Short Term Market Trend: Up