All nine sectors moved higher on Monday again… XLF, XLB and
XLV were the strongest sectors …XLE was
the weakest sector….
Breadth weakened…advancers still led decliners…1.16 to 1 on the NYSE and 1.05 to 1 on the NASDAQ…
Monday – weakened, advancers led
Friday – strengthened, advancers led
Thursday – strengthened, advancers led
Wednesday – weakened, advancers led
Tuesday – strengthened, advancers led
SPY up 59 cents at 156.03...volume 83.7 million
shares…
VIX down 1.03 at 11.56
TNX up .65 at 20.56…
TNX up .65 at 20.56…
TLT up .11 at 114.86…
XLF up 14 cents at 18.38 volume 49.4 million shares
XLF up 14 cents at 18.38 volume 49.4 million shares
AAPL up 6.15 at 437.87…volume 16.9 million
shares…
FB up 18 cents at`28.14…volume on35.6 million
shares…
Technical Commentary:
Financial led stocks higher on Monday. TNX has risen over the past weak as the
dollar remained strong suggesting increased demand for funds through
bonds. The SPY continued higher
making another New High Close.
Stock futures primary trade rolled on Friday from March H to June M: ESH3 to ESM3
DIA +0.42%, SPY +0.38%,
and QQQ +0.29% moved
higher and IWM -0.03%
lower. DIA, SPY and QQQ
moved to another new high close as AAPL rallied higher.
AAPL +6.15 had it
highest close in more than a week above its short-term support. FB up 18 cents formed a pennant price pattern just below its 30 DMA and
is a setup for a potential C Pattern Entry.
On Friday MS reiterated its overweight rating on FB.
BBRY +14.09% after reporting T to launch Z10 on March 22 and to begin pre-sales on
March 12
The Euro gained 50 pips and closed at
1.3045 on Monday.
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 continued higher. Seven of nine
sector ETFs including XLP, XLU, XLV, XLY, XLK, XLF, XLI
are now positive XLB and XLE continued neutral.
The Market
Forecast Green Line is pointed up in the upper reversal zone.
____________________
Setups
Breakout: JDSU, AVX, GES, SPLK, UNG, ESRX, SNDK, URI, MON, MDRX,
TSCO, CRR, CBOE, CLB, ANR, JRCC, BTU,
Diagonal Breakout: STX, MNST, MCHP, FAST, GME, SINA,
Bull Flag: WHR, ICE, SLM, QCOM, STZ, PM, CREE, ASNA, CIEN, P,
Potential Bullish Divergence: EBAY, HRS, ROST, IPI
Gap Up:
Gap Down:
Bear Flag: INT, ACI, BTU, OC, DNDN, A, LIFE,
GRMN, DDS, AGU, PETM, HSP
Break of Support: DKS, DDD
Moves
Highlights: NFLX, NTES,
TPX, CREE, SSYS, ANGI, Z, BBRY
Gap Up: NAV, HRB, TPX, STI
Gap Down:
FL
Breakout: BBRY, POT, DE,
LVS, CNX, CBG, WDC, EQIX, SHLD, CHK, BMC, MWV, TW, CSTR, PPO, AVGO, MOS, YELP, TRIP, RF,
ANGI, ATVI, STRZA, Z, JPM, CTSH, ORCL, NDSN, VECO, FIVE, HPQ,TXN,
ILMN, AIZ, ORLY, TPX, CBS, VMI, CTXS,
AWAY, AMGN, MBI, LNKD, PBI, YELP, AL, COG, HES, DECK, CRM
Bounce: BBRY, CLR, AVP, MJN, SPWR, CNW, MTW, SHLD, NTES, EQIX,
TEX, IM, FTNT, AOL, ADM, ZION, PCLN, IBM, PRGO, GNC, ZNGA, NFLX, HLF,
BPOP, FAST, PTEN, XRX, FTI, PMCS
MACD Divergence Bounce: FB
Bear Flag: CLF, WLT, RAX, CCL, CTL, ULTA, EXPD, CORN, NBR, MGM,
SLB, SWKS, AKAM
Support Break: KORS, AKAM, RCL, TFM, FFIV, JCP
____________________
58 of 100 NDX stocks
closed higher on Monday…
Leading NDX 100 stocks included: SHLD, STX,
BBBY, DTV, MU, SNDK, DELL, AAPL, NTAP, SPLS, WFM, BMC, GILD, BIIB, MXIM, ESRX
Lagging NDX stocks included: AKAM, INTU, AMGN,
YHOO, AMZN, NVDA, CTSH, KLAC, REGN, EBAY, CTRX, CHKP, COST
Leading stocks> +2% on Monday included: BBRY, F, ZAGG, MOS, GMCR, ESI, CSTR
Lagging stocks < -2.0% included: LDK,
CLF, TSL, ANR, UAL, NFLX, AKS, FAZ
Stocks to Watch on Tuesday…
Holding Above 30 DMA = 78
VMED, ADI, LLTC, DELL, NWSA, AMAT, 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, CELG, CMCSA, FISV, INTU, NVDA, QCOM, MSFT, MYL, SRCL, VRTX, MDLZ, LBTYA, VRSK, SIAL, CTSH, CTXS, PCLN, REGN, VIAB, ADSK, AMZN, INTC, ORCL, SBUX, SIRI, BMC, CA, CSCO, MXIM, PCAR, VOD, ALXN, AVGO, BBBY, XLNX, XRAY, LINTA, SHLD, COST, EQIX, WDC
VMED, ADI, LLTC, DELL, NWSA, AMAT, 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, CELG, CMCSA, FISV, INTU, NVDA, QCOM, MSFT, MYL, SRCL, VRTX, MDLZ, LBTYA, VRSK, SIAL, CTSH, CTXS, PCLN, REGN, VIAB, ADSK, AMZN, INTC, ORCL, SBUX, SIRI, BMC, CA, CSCO, MXIM, PCAR, VOD, ALXN, AVGO, BBBY, XLNX, XRAY, LINTA, SHLD, COST, EQIX, WDC
Moving Above 30 DMA =4
BRCM, DTV, EXPE, FOSL
Moving Below 30 DMA =1
CHKP
Staying Below 30 DMA
MNST,
ROST, KLAC, LIFE, SPLS, ISRG, EBAY, FFIV, NTAP, GRMN, WYNN,
STX, WFM, EXPD, NUAN, AKAM, GOLD, CHRW, BIDU, FB, AAPL
Ten Week Intermediate
Term Market Trend: Up
Short Term Market Trend: Up
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