The index itself today broke above the short term trend line and is about at horizontal resistance and has increased volume.

Here we see the Naz 100 using the QQQQ chart and it sure looks like a high odds that at least the highs will be soon tested. Also showing an MACD crossover so maybe in some time a break out as well.

The Nasdaq meanwhile is also very near a test of its many year highs. Of course we will stay cautious as they may fail at the resistance but so many break outs continue to work so we will continue as we have been as long as they do.

Meanwhile oil has been falling which does put a strain on the market. First of course is added worry that if the price is lower it may mean a lower demand thus a slower economy. Actually this may not be true as the amazing warm winter leads to diminished need. The other thing is that as it falls a lot of hedge funds had to sell making it drop further. It is not so much a supply and demand price as the media wants you to believe. It is now near the 50% retrace and the 200-day EMA so we expect to see a rally which can help the markets. Higher oil eases fears but it also gives more money to producing countries and they buy US stocks. I doubt it is at all ready to move back up for long term but a rally seems to be close.

Gold has bounced off the 200-day EMA and is back above the 50% retracement but looks to me like a possible bear flag shaping up for another drop to come.

Thanks to all who voted for us at stockcharts as we are ahead at the moment though not yet halfway through the month so we still appreciate each vote.

Now for some new setups to add to the watch list.

MVIS was a trade of ours recently and today in the chat room we noticed it right at  support and it had a red candle at the time. It was a low risk buy because if the support did not hold then we would have sold quickly for a small loss. It went up then 9% before pulling back for the close. I wanted to point this out as a reminder to check former stocks as were keep the charts on the site as often you can find new low risk entries during the day.

UNTD may be a play over $14.00. It tried today and failed but sometimes they take more then one try. This was mentioned in the chat room as was the next one.

IACI would break out over $38.66 and we would want to see better volume than today.

TRMM from Longshort has a level at @2.13 then $2.40.

EFUT  has the trend line overhead so wait for a break. This can be a wild stock.

CRUS that Mezz brought up in the chat room already broke above its trend line but has had very good volume so it has a pretty good chance of a continuation this time as it is again over the 200-day and maybe the forth time is a charm. Maybe will give a little pullback first.

SYNM was a former play that then pulled back and today had a super run. We will put it on watch again but it may take some time to break the trend to make it a buy.

GTW is a nice set up to break out over $2.26

We mentioned that oil could bounce soon and show this only because it is and oil stock at support. If it breaks it does not look like a great time to short it as it would be better then to wait for it to rally back up to broken support. We would however watch this one to play as a bounce long trade if oil does rally.

RATE also from the chat room had a big volume move today but closed just under the trend line so it would be a trend line break play.

CHTR another tech stock looks nice as a play over $3.43

USNA gapped on an increase in guidance and has top resistance $52.85

Earnings season has started so do not forget to check stocks you hold.

That's a full lid - will see you on the weekend - have a good rest of the week!

That reminds me -  also to Vote often - once a day on the words "Vote for It!"

Check the Earnings Calendar on all overnight holds.

Check the  message board also for other good stock candidates as there are several there right now.