From: Fallondpicks.com

Looks like we will have to wait until next week to see what happens in the markets. No real change as Hamptons volume played out for a second day. The Dow was able to close up on slightly higher volume (a technical accumulation day) as the NASDAQ regained its leadership role against this index [On a side note, the DIA at support is an aggressive buy]. The NASDAQ 100 held 1,700 support for another day, gaining on higher (but well below average) volume; it too was a technical accumulation day, but I wouldn't bet the house on current buying lasting. The Russell 2000 was unable to break above former October support, spending the second day below new resistance. The S&P, NASDAQ 100 and semiconductor index lingered around support and were little changed on the day. Have a good weekend.

Tech secondary indicators [$NASI, $NAA50 and $BPCOMPQ] remain bearish; confirmation coming on MACD trigger 'sells' in the respective indicators. Consequently, I have redrawn bearish divergences in some of the MACD trigger lines.

Note: My upcoming MTA exam will limit my updates for the next couple of weeks on the website and the blog. Updates may not be daily, but I will keep members abreast of important changes. The exam is on April 29th.

Newsletter stock update:

PRSC hit its stop after the second day of losses brought the stock down into this price. The April 12th free Breakout play closed down 4%. A hit its stop after gapping down on the open. The stock did finish on a bullish piercing pattern to close over its 50-day MA, but it came a day late to save it. The April 4th Subscriber play closed for a 5% loss. XIDE clipped its stop after a 4-day pullback. The April 10th Subscriber play closer for a 14% loss. TKP was another Subscriber stop hit. It featured for April 11th and closed for a 2% loss. MDC was a stop hit after a succession of losses. The April 6th play closed for an 8% loss.

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