On Monday, the market opened up and rose throughout the morning session, fell in early afternoon session, and then rallied into the close. Volume was weaker than Friday and also below average, implying the BIGs were not strongly committed today. All three of the major indices managed to close up, breaking a 2-day slide.

The Nasdaq gained +22 points (+0.57%) and the S&P rose +14 points (+0.82%). The Dow gained +146 points, besting the other two indices with a +0.91% advance. The Nasdaq tested the 4,000 level again today, dipping as low as 3,986, but it was able to close higher at 4,022.

Advancers beat decliners by 2-to-1, and up volume led down volume by a 3-to-1 margin. Market breadth was strong for most of the day; it closed at +911. Today's lack of volume suggests the bulls have additional work to do in order to overcome the recent selling pressure. 

Support at the 200 SMA is not far below for the Nasdaq, and a rebound attempt may develop this week. The S&P recently fell below its 50 EMA, so a retest of the moving average is normally expected. The S&P was able to close above its 100 SMA today, reversing Friday's close below it.

Strong Sectors Today: Consumer Discretionary, Energy, Materials, Technology

Today, March retail sales beat expectations.

Economic Reports Tomorrow: Core CPI