| Main Indices | | | | | | | | | | | |
| Index | Sup 2 | Sup 1 | Trigger Short | Trigger Buy | Res 1 | Res 2 | Comments |
| Launch Market Recap Video |
| S&P 500 | 1,090 | 1,098 | | | 1,110 | 1,115 | Although the S&P ended in the red, it formed an inside day (lower high/higher low) narrow range doji amid low volume which at this point merely reflects a minor weakening of momentum. |
| Dow Jones Industrials | 10,170 | 10,270 | 10,260 | | 10,400 | 10,500 | Like the S&P 500 giving overbought readings, and continues to consolidate just below of R1, like the S&P 500 had an inside day, look for consolidation and tightening of the range prior a bigger move. |
| Nasdaq - 100 | 1,780 | 1,800 | | | 1,825 | 1,875 | The NASDAQ-100 has been dealing with the 50MAs a lot sooner than the other indices. Continues to consolidate around R1, as long as it holds support we could see a push higher after consolidation |
| Launch FlowTrades Technical Summary |
| Oil and Gold | | | | | | | | | | | |
| Name | Sup 2 | Sup 1 | Trigger Short | Trigger Buy | Res 1 | Res 2 | Comments |
| Spider Gold (GLD) | 107.50 | 108.50 | 107.50 | | 109.00 | 110.50 | Gold is right at resistance, we have been looking at gold to weaken via a Head and Shoulders pattern that was broken with a huge gap up. Now it is sitting right at resistance. Not a whole lot of upside in the GLD for now |
| United States Oil Fund(USO) | 37.60 | 38.01 | | | 38.95 | 39.85 | Oil is now above $80, look for signals of weakness in oil, since we believe that the market could lag if oil starts to decline once again. Range for oil between los $80s and low $70s. In the USO not compelling until confirms resistance. |
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| Sector Wrap Up | | | | | | | | | | |
| Name | Symbol | Focus | Sup 2 | Sup 1 | Trigger Short | Trigger Buy | Res 1 | Res 2 | Comments |
| Launch Sector Wrap Up Video |
| Consumer Discretionary | XLY | x | 29.30 | 29.83 | | 30.55 | 30.47 | 31.85 | Chart is not broken, and its chart still looks ok, not great but ok. Continues to challenge its 52 wk high, and consolidate near R1 |
| Consumer Staples | XLP | | 26.45 | 26.80 | | | 27.25 | 28.70 | Continues to outperform the market, however its trend feels tired. It is right at resistance challenging its 52wk high. Don't see a momentum as it needs a rest |
| Energy | XLE | x | 54.80 | 56.40 | 56.35 | 58.05 | 58.00 | 60.00 | Despite recent runup in oil sector continues to deal with 50MAs, if it breaks it could get a nice pop to previous highs. If it doesn't hold it will be putting in lower highs (red flag). |
| Financials | XLF | x | 14.00 | 14.15 | | | 14.45 | 15.50 | Broke its downtrend and today broke its 50MA, with a nice pop. The problem is the very low volume that we are seeing in the sector, however it could challenge 15.50. |
| Healthcare | XLV | x | 30.52 | 31.20 | | | 31.46 | 32.50 | This is a sector that looks strong considering the market conditions right at resistance, price action was not strong today considering that is right at resistance. |
| Homebuilders | XHB | x | 15.30 | 15.75 | | 16.40 | 16.35 | 18.00 | This sector looks good, continues to consolidating near resistance. It could get a real lift towards the $18 level playing catch up to other sectors. |
| Industrials | XLI | | 27.00 | 28.00 | | | 28.25 | 29.50 | Moving to the upside, could challenge previous highs, close to giving overbought readings. It apears that it could back fill to previous highs, upside cap at previous highs |
| Materials | XLB | | 30.00 | 31.50 | | | 32.50 | 33.50 | Materials just booked a lower low, which breaks the overall health of the overall trend. Consolidating at 50MA, increasing possibility of lower high. |
| Pharmaceuticals | XPH | x | 37.15 | 38.00 | 36.95 | | 38.00 | 38.40 | Pharma continues in its downtrend flirting with breaking support, watch for a possible break of pharma companies so tighten your stops on these names. |
| Real Estate | IYR | | 42.00 | 44.00 | | | 45.00 | 46.45 | Broke its short term downtrend and R1, it is now dealing with R2. Watch for a possibility of a lower high. Needs to move above R2 to break pattern. |
| Regional Banks | KRE | x | 22.23 | 22.85 | | 24.10 | 23.46 | 25.20 | Regional Banks have been outperforming the market, very strong today for a backfill to previous highs look for a test of R2 real soon. |
| Retail | XRT | x | 34.15 | 35.35 | | 36.85 | 36.25 | 36.82 | Retail continues to show great strenght about to make new 52 WK High, RSI still not showing overbought levels still has room to set a new high towards $37.50 |
| S&P Metals and Mining | XME | | 46.00 | 50.20 | | | 51.26 | 53.85 | Very similar chart pattern that the Materials sector, booked a lower low, will be looking at R2 for possible lower high |
| Semiconductors | XSD | | 42.25 | 44.25 | 45.49 | 46.80 | 46.25 | 48.15 | Semis bounced off horizontal support level at $42.25, now they are challenging their 52 wk high. Sector looks strong a bit over extended it could go to R2 |
| Spider Biotech | XBI | | 54.75 | 55.85 | | 58.05 | 56.50 | 56.85 | Choppy at best and has been in a wide channel, however it has been consolidating above R2, could get something going in a new range watch it. |
| Technology | XLK | | 20.62 | 21.50 | | | 21.85 | 22.15 | Continues under pressure, until we see technology lead the market we will not see a higher high in then S&P 500. It booked a lower low, be on the lookout for a lower high. |
| Transportation | IYT | * | 68.50 | 71.62 | | | 73.40 | 76.05 | It broke its 50SMA and its now on pace to challenge R2, a bit over extended because of the number of up days since the Early Feb low |
| Utilities | XLU | | 28.50 | 29.05 | | | 29.75 | 30.50 | Continues in its downtrend and today failed at the 50EMA. We are on the lookout for a lower high. |
| FTSE - XINHUA China | FXI | x | 36.65 | 38.45 | 38.38 | | 40.25 | 41.20 | FXI continues to be broken trading below 200 moving average, 50MAs on pace to break the 200SMA very soon. |
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| Trading Ideas | | | | | | | | | | |
| Name | Symbol | Go | Sup 2 | Sup 1 | Trigger Short | Trigger Buy | Res 1 | Res 2 | Comments |
| Spotlight |
| Crocs | CROX | Video | 6.85 | 7.35 | | 8.05 | 7.65 | 8.03 | Breakout setup continues to be valid for a move towards $10 as CROX breaks R2 after a little consolidation just above R1 |
| Wal-Mart | WMT | Video | 52.20 | 52.90 | | 53.70 | 53.65 | 55.95 | After forming a nice coil, WMT moved above the 50MAs and pushed through R1 we are now looking at R2 as a strong possibility. |
| JP Morgan | JPM | Video | 37.00 | 39.25 | | 41.10 | 40.35 | 41.00 | After being in a very tight range, JPM poked its head above 50SMA. It retreated at the end of the closing session, we might see new leaders in the market in the form of Financials |
| Lincoln National | LNC | Video | 23.55 | 24.90 | | 26.00 | 25.75 | 27.65 | LNC moved above R1 and can now push towards R2, especially after the stock broke its downtrend holding its 50MA. Could be a nice trade towards the $27.65 area |
| Other Ideas |
| Amazon.com | AMZN | Chart | 110.50 | 115.05 | 114.75 | 121.05 | 120.45 | 127.75 | AMZN should resolve soon, very tight consolidation it could develop a squeeze if it moves above R1 or further selling if breaks support |
| Apple | AAPL | Chart | 190.25 | 200.00 | 197.95 | 205.05 | 202.25 | 204.55 | Continues to deal with resistance at $204. Not very compelling, until it clears R2. Today dipped below $200 bounced off 20MA |
| Agrium | AGU | Chart | 61.25 | 64.50 | 64.48 | | 64.57 | 67.55 | AGU still looks weak and could still book lower prices. It appears to have formed a lower high |
| Darden Restaurants | DRI | Chart | 40.05 | 40.45 | | 41.05 | 42.80 | 45.10 | Very strong after the big gap up, price action continues to show that momentum continues, although over extended Stops can be put below the Gap |
| Ford | F | Chart | 10.60 | 11.15 | | | 11.40 | 11.95 | Stock continues to consolidate in a nice triangular pattern, it could be a candidate for a 1-2-3 pullback long at this point. S1 coincides with 20MA, so watch to see if it holds |
| KB Home | KBH | Chart | 15.50 | 16.25 | | 16.75 | 16.50 | 17.75 | Still looks good consolidating around R1 can get traction with the entire sector. |
| Starwoods Hotels | HOT | Chart | 35.95 | 36.95 | | | 39.45 | 41.00 | Moving higher appears to be doing a back fill towards previous high that coincides with R1. If R1 gives way we could push to R2. Plan for profits at R1, if it fail then close position |
| Lexmark | LXK | Chart | 32.40 | 33.75 | | | 34.00 | 34.75 | LXK was highlighted as a short when it broke S1 and not it certainly looks like it will be testing $32.40. Other levels are $31 the 20MA and $29.04 which is just above the gap |
| Macy's | M | Chart | 16.75 | 17.75 | 18.25 | | 17.80 | 19.00 | Over extended coming out of squeeze look for a pullback to get into the stock. Today Appears to have set a Short Term Top with a high at $18.85 |
| RCI | RCI | Chart | 31.20 | 31.90 | | | 33.00 | 33.50 | Broke above resistance and had a successful test. As long as it can maintain above S2 it could see more upside. Be mindful of R1 and R2 that have played an active role in the previous run |
| Research In Motion | RIMM | Chart | 67.45 | 69.15 | | 72.05 | 70.10 | 72.00 | Broke its breakout pattern by getting below $70.10, as long as S1 holds we could see more sideways action. |
| Schlumberger | SLB | Chart | 59.75 | 61.50 | | 62.00 | 62.95 | 65.20 | A big gap down on M&A news towards the 200SMA provide the opportunity for a gap fill trade, after the huge volume that we saw today. We could see at least R1 |
| Toll Brothers | TOL | Chart | 17.95 | 18.85 | | | 19.75 | 20.10 | Still wedging, as long as it is able to give consistent higher lows, it has a chance to break once again above $20. |
| Member Requests - Pending LCRD, S, APC, GE |
| Alcoa | AA | Chart | 12.60 | 13.35 | | 14.06 | 14.03 | 14.65 | A tight range and base buidling across the 200EMA booking higher lows. The Stock is capped by R1, which coincides with 50EMA and R2 50SMA. If R2 breaks could see $15.50 |
| Weatherford | WFT | Chart | 14.37 | 15.90 | 16.35 | | 17.26 | 17.65 | Stock is in a downtrend and doesn't present a bullish configuration with 50MAs below 200MAs. It can probably push higher another point, but ultimately can retest lows. |
| Viropharma | VPHM | Chart | 9.45 | 9.95 | | 11.04 | 10.25 | 10.70 | Very strong move above R2 it now looks like it could reach a new range with at least $11.65 and ultimate high target of $12.50 |
| Dropping Coverage - It will be Featured Back in the GamePlan once Something Material Changes |
| Cosan | CZZ | Video | 7.85 | 8.50 | | | 9.00 | 9.27 | Lack of volume in the breakout continues to haunt CZZ, so long S1 has been able to Hold. As long as S1 holds we could potentially see more upside after it digests R1 at $9.00 |
