A barrage of economic data cross the wires this morning helping push futures higher at the open. Seasonality continues to prop up economic data, but the market simply has either moved past or continues to ignore lackluster data. Today’s market saw its ups and downs. However, it was until after noon time did we see sellers take over. The 3:30 pm ramp saved the day as stocks were looking to head much lower. Sellers went after the VIX and we saw the market lift off its lows. Volume was lower across the board as Friday’s volume was given a boost by end-of-the-month rebalancing. Not all is bad as we continue to have our stocks working well. We will continue to manage risk and push forward no matter what the market has in store for us.

A potential black mark on this market is the weakness seen in AAPL. The stock closed below its 200 day moving average. The 200 day is a long-term moving average one can use to define a trend. Volume was above average as well indicating institutions were looking to sell AAPL. All we know is a close below the 200 day moving average is not a healthy sign when volume is above average.

Our four horsemen continue to act well. FB, AMZN, NFLX, and SBUX remain in their uptrends and continue to be a positive for this market. AMZN continues to hold the low it set the day after it announced earnings. SBUX remains in its uptrend after breaking out in February. FB appears to be forming a flag pattern. NFLX continues to consolidate its gains after earnings. Our four horsemen continue to act well despite weakness in small caps and the Dow.

We are in a historically weak period and any expectation of tremendous gains should be tempered. Anything is possible, but I would not count your chickens before they hatch.

Cut those losses short.