SPX Drops and Pops on Friday...SPY, DIA, QQQ, IWM Short-term New High Close...

Trade with the trend.  Price fluctuation occurs above support.  A break of support must occur for an uptrend to reverse.

Eight of nine sectors moved higher on Friday …XLV, XLP and XLB were the strongest sectors while XLE was the weakest sector.  Oil futures fell 1.48 to close at 36.63. 

For the week ended April 1 XLK +2.48%, XLP +2.48% and XLY +2.42% led SPY +1.87% 

Coincident sectors XLU, XLF, XLV, XLB

Lagging sectors XLI, XLE -1.26%

Leading Sectors YTD: XLU +15.09%, XLP +6.2%, XLI +5.13%, XLK +4.37%, XLB +4.19%

                        

Breadth strengthened as advancers led 1.36 to 1 on the NASDAQ.

Friday – strengthened, advancers led on NASDAQ

Thursday - weakened, advancers led on NYSE

Wednesday – weakened, advancers led

Tuesday – strengthened, advancers led

Monday – mixed, advancers led on NYSE

SPY up 1.40 at 206.92 on 114.4 million shares, 14% above average volume

VIX down .85 at 13.10…

TNX up .06 at 17.92…

TLT up .07 at 130.68…on 9.3 million shares, 25% above average volume

XLF up .20 at 22.70…on 37.1 million shares, 31% below average volume

AAPL up 1.00 at 109.99 on 25.8 million shares, 21% below average volume

FB up 1.96 at 116.06 on 24.7 million shares, average volume

Technical Commentary:

QQQ +1.06%, SPY +0.68%, DIA +0.61%, IWM +0.44%.

Today QQQ, SPY, DIA and IWM each made a new short-term new high close since the Feb 11 lows.  The trend is still up.

NDX +48.42 on Friday was led by point gainers REGN, FB, GILD, AMGN, MSFT, AMZN, MDLZ, CMCSA, GOOG, CSCO and SBUX. 

NDX percentage leaders: REGN, MU, TSLA, NFLX, ILMN, WBA, AMGN, MDLZ, TMUS, ALXN, BMRN, FOXA, MYL, GILD, SBUX, AVGO, CERN, PYPL

The DJIA was led by gains in GS, MRK, PG, V, PFE, JPM, MCD and HD as 24 of 30 stocks moved higher.

Trade what you see, not…

Stocks below support should generally be traded bearishly until a reversal pattern forms.

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Strong Stocks: Setups and Moves You Can Use

Bull Flag Setups include:  BABA, FCX, BA, DD, PCAR, ADSK, CTRP, EA, CAT

Horizontal Breakout Setups include: INTC, TRIP, AKS, GILD, XLB

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Short-term Movers:

SPX gainers:  CSRA, RCL, HOG, CCL, IPG, MNK, RHI, UHS, KMX, NWL, ZTS, GIS, SWN, URBN, BSX, RRC, TS, MLM, PLD, PVH, MET, SNI, MJN, MCO, MSI, EFX, NEM, COH, HPE, WHR, V, GS, ADS, XRX, VAR, MKC, MA, TWX, NWSA, AMT, AIV, AMG, HSY, DG, TIF 4

SPX losers:  TSO, CHK, RIG, NOV, DE, NBL, DO, VLO, AN, KMI, AGN, BA, BHI, ZION, FOSL, HOT, CNC, EOG 3

NDX gainers:  REGN, TRIP, NFLX, ILMN, ALXN, ATVI, NCLH, TMUS, AMAT, DLTR, MAT, LBTYA, WBA, LRCX, CERN, INCY, MU, NVDA, CHKP, BMRN, YHOO, CTSH, SBUX, COST, MSLZ, TSLA, SBAC, AAPL 4

NDX losers:  WFM, DISH, ENDP, WDC 3

YTD:

SPX Leaders:  URBN, NEM, FCX, KORS, WYNN, PVH, RRC, EXC EQT, CTL (311, +5 > 10p 133, +10)

SPX Losers: WMB, RIG, MPC, AN, TSO, CF, HRB, LNC, MCK, ADS

NDX Leaders: MAT, FAST, AMAT, PCAR, FISV, CHTR, ISRG, FB, NVDA, YHOO (55, +3)

NDX Losers:  ENDP, VRTX, INCY, REGN, ALXN, WDC, MU, TRIP, NTES, ESRX

DJI Leaders:  VZ, CAT, WMT, MMM, IBM, UNH, KO, MCD, XOM, JNJ (21, +2)

DJI Losers: BA. AXP, GS, JPM, PFE, INTC, DIS, DD, NKE

Remember:  “It’s a market of stocks, not just a stock market.”

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

The SPX MFC green line is pointed up at 95. 

76 of 100 NDX stocks closed higher on Friday.

86 NDX stocks are above their 30 DMA.

NDX Stocks to Watch on Monday:

Moving Above 30 DMA = 5

MDLZ, MU, PYPL, REGN, XLNX,

Moving Below 30 DMA = 2

BBBY, STX

6-month Intermediate Term Market Trend: Neutral

3-day Short Term Market Trend: Up