Buy: $QQQ buy signal issued

Buy: $SPY buy signal issued

Buy: $AAL buy signal issued

Buy: $AAPL was due for a pause so scale in if you want to take a bite

Support seems to be around $122.50

Avoid: $TSLA is due for a bounce so buying at current levels is for aggressive traders; All others should avoid.

Watch: Consumer Staples ($XLP) - Wait

A lot of sideways action with no clear cloud direction

Watch: S&P MidCap 400 ($MDY) preliminary buy signal issued

Watch: Home Depot ($HD) preliminary buy signal issued

$UNG burned investors who bet that natural gas prices would rise during winter months

A mild winter kept prices low.

$UGA is a long-term play on gas prices if you believe they will rise in the future

Gas prices are stabilizing a bit after rising since January

Energy Sector ($XLE) is trading sideways around $75

Mimics what we see in oil prices.

United States Oil Fund ($USO) mimics $BNO

For bottom fishers.

United States Brent Oil Fund ($BNO) down 50% from mid-June 2014

This ETF is truly for bottom fishers.

Oil seems to be settling around $55/barrel ($BRENT)

$UNG is as bearish as it gets with no sign of upward momentum

U.S. Airlines Index weekly chart shows trading range

A breakout above 270 may start a new upward trend

U.S. Airlines Index bounces off support, but still indicates a trading range since January

Avoid: Alibaba ($BABA) doesn't show any signs of being able to break out of its $80-$88 trading range

It's currently only for diehard long-term investors who believe in it.

Gas prices may be entering a trading range

$FDX turns bearish after falling out of the $170-$180 trading zone that has been in place since November

$TWTR is at $50, but seems suspect despite the strong Ichimoku Cloud bullish signal issued this week

Let's watch Facebook ($FB) to see if it finds support around $83

Sold May-15 114/112 bull put spread for a credit of $0.25/contract

IWM is above the cloud and bullish signal issued when price closed above the cloud.

S&P 500 P/E Ratio and Ichimoku Cloud timing chart

Dips show market buying opportunities and peaks show market selling opportunities.

$VIX weekly Ichimoku Cloud chart is bullish for the market as long $VIX is below the cloud

When $VIX is in the cloud it means uncertainty exists in the market.

The market is bullish as long as $VIX is below the Ichimoku Cloud

Monthly chart.

$SPX daily Ichimoku Cloud chart is bullish despite price crossing Kijun Sen this week

$SPX is bullish on monthly Ichimoku Cloud chart as long as price is above Tenkan Sen

$SPX Daily Timing Indicator is bullish

$SPX Weekly Timing Indicator is still bullish

S&P 500 ($SPX) Monthly Timing Indicator is still bullish

1-year performance of major indexes keeps everything in perspective after a bad week

$DJIA -0.62% year-to-date and $SPX flat at +0.10-% year-to-date

Only $RUT and $COMPQ show gains year-to-date after one of the worst weeks since January.

One of those weeks for major stock indexes $DJIA $SPX $RUT $COMPQ

All finished in the red for the week, but rebounded a little on Friday after 4-straight down days

Gasoline prices may have bottomed in January

Weekly chart is bearish overall since price is below the Kumo (cloud).  Rising prices suggest bottom was around $1.30. Despite increase price has not crossed Kijun Sen (red line) which would result in a weak bullish signal.   Price needs to close above the cloud for a strong bullish signal.

WEEKLY CHART

DAILY CHART

Price is above the cloud and declining with support around $1.70.  Future Kumo is green which is bullish. Daily chart confirms current price level with potential of higher prices in the future.
 

$BRENT oil still bearish, but potentially consolidating around $55

Delta Air Lines ($DAL) performance lags the U.S. airlines index

It may be a good bet to close the gap.

Year-to-date performance for major airlines

Facebook ($FB): Houston we have lift off

$FB blasts off the cloud.

Small caps are outperforming large caps year-to-date

Year-To-Date performance of major indexes reveals that technology and small caps are leading

Equity Put/Call ratio confirms retail investors bullishness

Declining Index Put/Call Ratio reveals institutional investors' support for the market's upward momentum

Declining Total Put/Call Ratio is bullish for the market

$VIX gapping down shows the bullishness that traders have

This can also be a warning sign so caution is advised.

S&P 500 P/E ratio indicates market has room to rise

S&P 500 P/E ratio indicates market has room to rise

S&P 500: Ichimoku Cloud issues strong bullish signal for the market with price crossing Kijun Sen (red line)

This is a strong signal since it occurred above the Kumo (cloud). Tenkan Sen (blue line) crossing upwards through Kijun Sen (red line) will serve as confirmation.