Only one of nine sectors moved higher on Friday…XLP,
XLU and XLK were the strongest
sectors…XLY was the weakest sector.
Breadth weakened as decliners led advancers 2.69 to 1 on
the NYSE and 3.26 to
1 on the NASDAQ.
Monday – weakened, decliners led
Friday – weakened,
decliners led
Thursday – weakened,
decliners led
Wednesday – weakened,
advancers led
Tuesday – weakened
slightly, advancers led
SPY down 2.06 at 184.34 on 140.6 million shares, above average volume
VIX up 1.61 at 15.57…
TNX down .31 at 26.95…
TLT up .65 at 109.11...
XLF down .34 at 21.83 on 58.9 million shares, average volume
AAPL down 8.35 at 523.47 on 10.3 million shares
FB up .20 at 56.95…on 108.3
million shares, above average volume
Technical
Commentary:
IWM – 1.46%, SPY
– 1.11%, DIA – 1.06%, QQQ
– 0.95%.
Stocks sold off for the third
consecutive day with SPY down -2.4% closing near short-term support and
the DIA still in a bull flag pattern.
QQQ -4.35% and IWM -4.62% over the past three days made a lower low and
are forming potential MACD bullish divergence patterns.
Check out list below for MACD
bullish divergence setups.
AA reports after the close on Tuesday
unofficially kicking off Q1 earnings season.
JPM and WFC 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 69.
____________________
Setups
H Breakout: UNG,
Diagonal Breakout:
Bull Flag: GRMN, MSFT, GLW, RCL,
One Day:
Potential Bullish
Divergence: QQQ, IWM, FB, FFIV, ADSK, AMZN, BIDU, CELG, CMCSA, GMCR, MNST,
MU, NFLX, PCLN, ROST, TRIP, TSLA, WFM, WYNN, AAL, BX, CREE, GOGO, HOG, JDSU,
KKD, MTW, NKE, SPWR, SWI, TSL, UBNT, CRM, CSIQ, DDD, LVS, P, QIHU, SCTY, SFUN,
SOHU, SPLK, SSYS, TWTR, VRSN, XONE, YELP, YOKU
Gap Up:
Gap Down:
Bear Flag:
At Support: AAPL, CMCSA, MNST, NTAP, ROST, SBUX,
TSLA, TXN, WYNN, BX, C, CREE, ESI, GOGO, HOG, JDSU, JNPR, SPY, TSL, UBNT, X, ANGI,
LVS, NTES,
C- Pattern:
Moves
New Highs:
Gap Up:
Gap Down: DDD, SSYS, YNDX,
H Breakout:
Diagonal Breakout:
Breakout Test:
Bull Flag Bounce:
Bounce: CELG, FFIV, IBM,
MACD Divergence Bounce:
Bear Flag:
Support Break: BIDU, ESRX, MU, SNDK, WFM, YHOO, BAC, CIEN,
FAS, IWM, MTW, NKE, SCHW, SPWR, TPX, CRM, CSIQ, SCTY, SFUN,
______________________
21 of 100 NDX stocks
closed higher on Monday.
Leading NDX 100 stocks included: ALXN, BIIB, KRFT,
ILMN, CELG, INTC
Lagging NDX stocks included: LBTYA, MUL, DISH,
SNDK, BIDU, MU, YHOO, ATVI, NTAP
Leading stocks > +2% on Monday
included: GME, IBM
Lagging stocks < -2.0% included: GOGO, TSL, CIEN, SPWR, TPX, ESI, BX,
PANW, MTW, FAS
Stocks to Watch on Tuesday
Holding Above 30 DMA= 20
MSFT, MAR,
AMAT, KLAC, TXN, GRMN, KRFT, FAST, MAT, INTC, QCOM, STX, ADI, WDC, CSCO, MXIM,
CHRW, ISRG, EXPD, SPLS
Moving Above 30 DMA = 1
SYMC
Moving Below 30 DMA = 8
BBBY, DTV, LINTA, LLTC,
ROST, SNDK, MDLZ, DISH
Staying Below 30 DMA
AAPL, ALTR, AMGN, ATVI, AVGO, BRCM, CMCSA, CTSH, FISV, HSIC, NVDA, PAYX,
PCAR,SIAL, XLNX, VIAB, DISCA, FOXA, NXPI, 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, FEGN, 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
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