NDX Leads Rally on Strength in GOOG, AMZN, FB, INTC, BIDU and PCLN...FSLR Bounce Leads SPX, Holds Horizontal Support...

Six of nine sectors moved higher on Monday…XLP, XLU and XLK were the strongest sectors…XLY was the weakest sector.    

Breadth strengthened as advancers led decliners 2.16 to 1 on the NYSE and 1.94 to 1 on the NASDAQ.

Tuesday – strengthened, advancers led

Monday – weakened, decliners led

Friday – weakened, decliners led

Thursday – weakened, decliners led

Wednesday – weakened, advancers led

SPY up .76 at 185.10 on 112.5 million shares

VIX down .68 at 14.89…

TNX down .14 at 26.81…

TLT up .26 at 109.37...

XLF up .03 at 21.86 on 45.7 million shares

AAPL down .03 at 523.44 on 8.6 million shares

FB up 1.24 at 58.19…on 78.7 million shares, above average volume

Technical Commentary: 

QQQ + 0.92%, IWM + 0.70%, SPY + 0.41%, DIA + 0.10%.

Stocks bounced on Tuesday pulling the MACD higher on QQQ and many individual stocks that had formed potential MACD bullish divergences on Monday.  The NDX +30.47 was led by GGOG, AMZN, FB, EBAY, INTC, BIDU, QCOM, DTV, TSLA and PCLN which together added 19.8 NDX points. 

QQQ formed a bullish engulfing on bullish divergence, SPX held at horizontal support and formed a piercing line, DIA formed a spinning top in a bull flag and IWM formed a piercing line in a potential bullish divergence.

The VIX fell, the Euro rose, interest rates TNX fell and bonds TLT rose.  Financial stocks XLF formed a long tail hammer and closed slightly higher.

FSLR +4.77, +7.01% led the SPX. 

AA +0.33, +2.63% gained after the close on better than estimated adjusted earnings, lower revenues and reiterated guidance.  JPM and WFC will report on Friday.

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 = 188.02, 189.25, 190.55…

QQQ = 88.04, 89.39, 90.96…

IWM = 116.23, 118.31, 120.25…

Support Levels

SPY = 186.03, 183.90, 183.63

QQQ = 86.40, 85.88, 84.37

IWM = 113.69, 111.35

Q1 Earnings Reactions

MU will report earnings Thursday, April 3 after the close.  AA will report Tuesday April 8 after the close, the traditional unofficial start of Q1 earnings season.

Positive Reactions – GME,

Negative Reactions – BBRY, MU

Reversal in progress –

Reversal of Initial Reaction –

The SPX Market Forecast green line is pointed down at 56.

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Setups

H Breakout: CTRP, IBM, TLT, UNG, INTC, KO, BA, NVDA, DTV,

Diagonal Breakout: FFIV,  

Bull Flag: GLW, QCOM, STX, TXN, WDC, MSFT, RCL, XOM, T, CSCO, CVX, MMM, JNJ, DD, TRV, UTX,

One Day:  

Potential Bullish Divergence: HOG, IWM, SPY, JNPR, LVS, MTW, SSYS, TWTR, UAL, YOKU, XONE, MU, ROST, WYNN, EXPE,

Gap Up: 

Gap Down:     

Bear Flag: 

At Support: BX, C, GOGO,  

C- Pattern:   

Moves

New Highs:  

Gap Up:  

Gap Down:  

H Breakout: COST, PG,

Diagonal Breakout: RAX,  

Breakout Test:

Bull Flag Bounce:  CAT, GRMN, WMT,

Bounce: FSLR, SWKS, X, LNKD, NTES, YNDX, ADBE, AKAM, CTSH, DTV, SNDK,

MACD Divergence Bounce: ESI, JDSU, KKD, NKE, SWI, UBNT, TSL, CRM, P, QIHU, SCTY, SFUN, SINA, SOHU, ADSK, AMZN, BIDU, COST, EBAY, FB, FFIV, NFLX, PCLN, TRIP, TSLA, WFM, YHOO, CTXS, CHKP, WFM,

Bear Flag: 

Support Break: AAL,  

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76 of 100 NDX stocks closed higher on Tuesday.

Leading NDX 100 stocks included: BIDU, NXPI, TSLA, NVDA, EBAY, TRIP, NFLX, GOOG, AMZN

Lagging NDX stocks included: GILD, BIIB, SIRI, VRTX, MYL, MNST, ISRG, KLAC

Leading stocks > +2% on Tuesday included: FSLR, PANW, KKD, ESI, UBNT, NKE, SFUN, QIHU, ANR, LNKD, SOHU, WLT, P, RAX

Lagging stocks < -2.0% included: GOGO, SPWR, BX, UAL,

Stocks to Watch on Wednesday

Holding Above 30 DMA= 21

MSFT, MAR, AMAT, KLAC, TXN, GRMN, KRFT, FAST, MAT, INTC, QCOM, STX, ADI, WDC, CSCO, MXIM, CHRW, ISRG, EXPD, SPLS, SYMC

Moving Above 30 DMA = 7

BRCM, DTV, LLTC, NVDA, SNDK, MDLZ, NXPI

Moving Below 30 DMA = 0

Staying Below 30 DMA

BBBY, LINTA, ROST, DISH, APPL, ALTR, AMGN, ATVI, AVGO, CMCSA, CTSH, FISH, HSIC, PAYX, PCAR, SIAL, XLNX, VIAB, DISCA, FOXA, ADP, CHKP, EXPE, MU, SBUX, CHTR, TSCO, CTXS, INTU, AKAM, EBAY, ESRX, FFIV, MYL, WFM, LMCA, TSLA, TRIP, ADBE, AMZN, BIIB, DLTR, GMCR, ALXN, CERN, YHOO, FB, REGN, PCLN, WYNN, LBTYA, SBAC, COST, BIDU, MNST, ORLY, SRCL, EQIX, NFLX, ILMN, CA, VRSK, ADSK, VOD, CELG, GILD, VRTX, SIRI, CTRX, NTAP, VIP, GOOG

Sixteen Week Intermediate Term Market Trend: Up

3-Day Short Term Market Trend: Down