Market Snapshot 03-11-2015

Use the following table for a quick measure of the markets over a variety of time-frames.

Click the image for a better view…

03-11-2015 13-06-49

The SPY is now firmly bullish across all 3 time-frames but the high RSI reading increases the probability that we’ll see profit-taking this week. The relative weakness of IWM also remains a concern.

47% of Russell3000 stocks are trading above their 200 day MA. This is 7% more than one week ago.

The most over-bought ETF which also has a negative volume profile is XLV.

The most over-sold ETF which also has a positive volume profile is XLU.

A Bullish Doji pattern has been identified in GLD. Buy at today’s open (roughly $108) with a fixed Profit Target of $113.50 and a fixed Stop-Loss of $105.

If trading a smaller account you could substitute GLD for JNUG. Buy at today’s open (roughly $40) with a fixed Profit Target of $57 and a fixed Stop-Loss of $30.

The strongest equity market sector during the past Qtr is now Technology. The weakest sector remains Healthcare.

03-11-2015 14-02-22

The following stocks each belong to the technology sector, have a positive volume profile, and are showing relative strength against the market.

03-11-2015 14-25-16

Disclosure: I am currently long EA and ATVI.

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