CRM, LMT and TSCO Jump Out as Potential Trades

The bulls continue to drive this bus.

Technical Edge — 

• NYSE Breadth: 53% Upside Volume 

• Advance/Decline: 50% Advance

• VIX: ~$18.75

Remember, it’s a short week with markets closed on Friday. VIX is back near its range lows and the S&P is up 7 of the last 8. 

The trend is clearly bullish, but it’s also extended in my view. Short-term, that’s not bearish, it’s actually healthy. 

We are getting a great reaction out of WYNN and our list of individual stocks is growing quickly, but a pullback would be great to get some healthier setups. 

SPY

• Key Pivot: $411.37

• Upside Levels (SPY): $409.75 to $410.25 (last week + month’s high, 78.6% retrace), $414

• Downside Levels (SPY): $407.50-ish, $405, $399 to $401.50 

S&P 500 — ES 

Our 4158-60 upside level was hit almost to the tick (with the ES topping out at 4157.75). It powered up nicely through the Friday/March high of 4142.50, which remains key going forward this week.