Stocks Sell Off on Healthcare, Biotech Weakness...Financials Remain Strong...Breadth Mixed...Short-term Neutral on Expiration Friday...

Three of nine sectors moved higher on quarterly expiration Friday and one was unchanged…XLU, XLE and XLF were the strongest sectors…XLV was the weakest sector.    

Breadth was mixed as advancers led decliners 1.40 to 1 on the NYSE and decliners led advancers 1.39 to 1 on the NASDAQ.

Friday – mixed, mixed

Thursday – strengthened, mixed

Wednesday – weakened, decliners led

Tuesday – strengthened, advancers led

Monday – strengthened, advancers led

SPY down .72 at 186.20 after a .82461 dividend on 163.1 million shares

VIX up .48 at 15.00…

TNX down .25 at 27.50…

TLT up 1.16 at 108.23...

XLF up .0029 at 22.40 after a .08285 dividend

AAPL up 4.17 at 532.87 on 13.7 million shares, above average volume

FB up .27 at 67.24…on 60 million shares, above average volume

Mar 21 – Weekly - YTD Performance

RUT   +1.04%           +2.59%

NDX   +0.69%           +1.70%

SPX    +1.38%           +0.98%

XLU     -0.93%           +6.69%

XLV     -0.44%           +4.94%

XLB    +1.00%          +2.49%

XLF    +2.75%          +2.47%

XLK    +1.91%          +1.59%

XLP     -0.19%          -1.12%

XLI      +0.58%          -1.17%

XLE    +0.79%          -1.64%

XLY     -0.26%          -1.72%

FB         -0.71%         +23.04%

NFLX    -4.36%          +10.27%

MU        -1.25%          +8.78%

PCLN   +0.07%          +9.16%

GOOG  +0.87%          +5.56%

GILD      -3.97%          -4.03%

AMZN    -3.51%          -9.57%

BIDU     -1.42%         -11.00%

Technical Commentary: 

DIA -0.24%, SPY -0.39%, QQQ -1.20%, IWM -0.46%.

Stocks opened higher and traded in a positive narrow range until mid-day when stocks sold off on quadruple witching quarterly expiration.  AAPL and FB were higher.  Then NDX was the weakest of the broad indexes and was led lower by BIIB, GILD, GOOG, AMZN, AMGN, ALXN, CELG, SYMC, REGN, MSFT, CMCSA, INTC, PCLN, ILMN and NFLX.

Trade with the trend of the chart you are trading and continue to move your protective stops.  Continue to follow your rules.

Short-term up trend Chart Targets:

SPY = 187.15, 189.25, 190.55…

QQQ = 90.96, 92.25, 93.05…

IWM = 118.71, 120.64, 121.84…

Support Levels

SPY = 183.75, 182.60

QQQ = 88.87, 87.35, 86.49

IWM = 115.58

Q4 Earnings Reactions

Positive Reactions – KKD, MFRM, KKD, BIG, FL, JOY, DRYS, TSL, DDD, MNST, ROST, YOKU, CRM, SHLD, ANF, TGT, DLTR, LOW, HD, M, SCTY, ZU, PCLN, DISH, INTU, AEE, MDRX, ALEX, DTV, TSLA, GRMN, SWY, KRFT, AMAT, CTRP, NVDA, SPWR, TRIP, REGN, CBOE, MCO, ATVI, AKAM, EXPE, GMCR, NXPI, ONNN, ORLY, SCSS, SWI, TWX, DIS, YELP, AGNC, KORS, KEYW, IDXX, XYL, YUM, NOV, SPG, TSN, ZNGA, ALXN, BRCM, BX, CMG, GOOG, JDSU, MTW, PHM, RYL, UA, VIAB, V, BA, DOW, FB, LVS, QCOM, VLO, AKS, AAL, CHKP, EA, F, ILMN, LXK, CAT, RCL, JNPR, MSFT, KMB, PG, MXIM, SBUX, NFLX, FFIV, URI, UNP, EBAY, MCD, CREE, TXN, UTX, NUAN, XLNX, BHI, DAL, RF, MS, SLB, STI, AXP, SWKS, BAC, LLTC, WEN, MON, MU, STZ, APOL

Negative Reactions – GOGO, CIEN, COST, CSIQ, HOV, MCP, SSYS, ADSK, CRM, FSLR, SINA, ESRX, GRPN, YNDX, KO, A, GNC, WTW, VFC, WFM, ANGI, CSCO, DISCA, NTAP, RAX, CI, LNKD, TPX, VRSN, ADP, CTSH, HUM, MDC, P, TSO, TWTR, ADM, BWLD, CERN, CHRW, DDD, SFLY, GILD, CVX, MA, MAT, PCAR, AMZN, MMM, CELG, CL, XOM, ESI, HOG, OSTK, POT, SHW, WHR, BA, CTXS, EMC, TSCO, CRUS, GLW, DD, F, VMW, YHOO, AAPL, STX, ZION, HON, KSU, SWK, STT, ALTR, ISRG, KLAC, KEY, JCI, LMT, WDC, ABT, BAX, ATI, COH, FCX, AMD, IBM, HAL, JNJ, TRV, VZ, GE, COF, INTC, UNH, C, GS, CSX, FAST, AA, FDO, BBBY, SCHN (104)

Reversal in progress –ADSK, A, CSX, CVX, GS, COF, GOGO, JNJ, IBM, JCI, KO, LNKD, MA, RAX, STX, WFM (16, 16%)

Reversal of Initial Reaction – FSLR, AA, AAPL, ABT, ADP, ADM, ALTR, ATI, BAX, BWLD, DISCA, CELG, CERN, CL, CSCO, CTSH, CTXS, CRUS, DD, DDD, EMC, ESRX, FAST, FDO, FSLR, GILD, GLW, HAL, HOG, HON, HUM, ISRG, KEY, KLAC, LMT, MDC, MMM, P, PCAR, POT, SFLY, SHW, SINA, SWK, TPX, TSCO, TSO, UNH, VZ,  VFC, VMW, VRSN, WDC, WHR,  XOM, YHOO, ZION (58, 55%)

The Market Forecast Green Line closed at 86.

____________________

Setups

H Breakout: C, CIEN, GLW, HOG, IBM, IWM, JNPR, X, GRMN, ROST, STX, WDC,

Diagonal Breakout: AAL, BX, CTRP, GLD, GOGO, KKD, LVS, QIHU, SPY, SWI, AAPL, FB, TRIP, TSLA, WFM,

Bull Flag: PANW,

One Day: BAC, ETFC, FAS, MS, SPWR, SWKS, UBNT, ZION, INTC, MSFT, SBUX, SNDK, XLNX,

Potential Bullish Divergence: P, SOHU, TWTR, CMCSA, MU, TSLA, WYNN,V

Gap Up: 

Gap Down:     

Bear Flag: CSIQ, VRSN,

At Support: ANGI, DDD, SPLK, YOKU, FB, PCLN, TRIP, TSLA,

C- Pattern:

Moves

New Highs: ATI, FSLR, JDSU, MFRM, MTW, RCL, SCHW, STI, Z, GRMN, QCOM, TXN,

Gap Up:     

Gap Down: NKE,

H Breakout: ATI,       

Diagonal Breakout: TLT,   

Breakout Test:

Bull Flag Bounce:  

Bounce: FAS, GLW, DTV, NFLX,

MACD Divergence Bounce: CMCSA,   

Bear Flag: BBRY, GOOG, NFLX, NTAP,

Support Break: CRM, RAX, SCTY, SSYS, UNG, XONE, YELP, AMZN, CELG, DTV, GILD,

______________________

31 of 100 NDX stocks closed higher on Friday.

Leading NDX 100 stocks included: MAR, NTAP, ORLY, WFM, SPLS, DISCA, GRMN, CTRX, AAPL, CHRW

Lagging NDX stocks included: SYMC, BIIB, ALXN, REGN, ILMN, VRTX, GILD, NFLX, CELG, CA

Leading stocks > +2% on Friday included: ANR, WLT, FSLR, X, Z, ATI, SCSS

Lagging stocks < -2.0% included: XONE, SSYS, SCTY, DDD, TSL, ZION, SPLK, NKE, SWKS, GOGO, LNKD, CRM, SPWR, RAX, UBNT, CREE, BBRY, PANW, TBT, BAC

Stocks to Watch on Monday

Holding Above 30 DMA= 48

MXIM, NXPI, TSLA, ALTR, DISH, EBAY, AKAM, AVGO, PCAR, ATVI, MSFT, MYL, NVDA, TRIP, MAR, XLNX, AMAT, KLAC, TXN, GRMN, KRFT, LINTA, LLTC, VIAB, FISV, DISCA, CTXS, FAST, INTU, WFM, BBBY, ROST, SIAL, ADP, TSCO, ESRX, PAYX, MAT, SBUX, LMCA, ADI, BRCM, INTC, QCOM, SNDK, STX, FFIV, WDC

Moving Above 30 DMA = 1

AAPL

Moving Below 30 DMA = 12

ADBE, AMGN, AMZN, BIIB, CHKP, DLTR, DTV, GMCR, HSIC, ISRG, MDLZ, SYMC

Staying Below 30 DMA

ALXN, CERN, YHOO, FB, REGN, FOXA, CTSH, EXPE, GOOG, PCLN, WYNN, LBTYA, SBAC, COST, BIDU, MNST, MU, ORLY, SRCL, EQIX, NFLX, ILMN, CA, VRSK, ADSK, VOD, CELG, GILD, SPLS, VRTX, SIRI, CTRX, CMCSA, CSCO, NTAP, CHTR, CHRW, EXPD, VIP

Sixteen Week Intermediate Term Market Trend: Up

3-Day Short Term Market Trend: Neutral