The major averages consolidated on the final trading day of the quarter. Economic data was mixed today. A measure of home prices in January topped projections, while March’s consumer confidence also beat expectations. However, a measure of manufacturing activity in March rose less than anticipated.

At the close, all 10 sectors were lower. Industrials were the notable underperformers, including United Technologies (UTX -1.37%). In health care, GlaxoSmithKline (GSK -2.22%) retreated and Celgene (CELG -3.95%) slid. M&A activity resurfaced, as Charter (CHTR +5.95%) rallied after agreeing to a $10.4 billion acquisition. Similarly, after agreeing to sell a business unit, Johnson Controls (JCI +1.22%) advanced. However, Lorillard finished down (LO -1.61%) and Reynolds American Inc (RAI -0.81%) fell amid rumors of regulatory hurdles to their merger.

Treasuries edged higher. The benchmark 10-year note gained 5/32 to yield 1.93%.

Commodities were mostly lower. WTI crude declined 2.5% to $47.48/barrel and COMEX gold fell 0.1% to $1,183.60/ounce. In FOREX, the dollar rose 0.1% with the euro off 0.8% to $1.0750/EUR and the yen unchanged at ¥120.01/USD.

Facebook Inc (FB -$0.98 or -1.18% to $82.22) is consolidating above previously stubborn resistance in the $81-82 area. It rallied to new 52 week highs with a streak of volume-driven gains since last shown in this FSU section on 3/11/15 with annotated graphs under the headline, "Relative Strength Rating Fell While Encountering Resistance". Its Relative Strength rating, at 80 now, is right at the 80+ minimum guideline for new buy candidates. Its Relative Strength line (blue jagged line) was plotted much higher in October of last year.

It was highlighted in yellow while perched within close striking distance of its 52-week high in the 2/20/15 mid-day report (read here). With no resistance due to overhead supply it was noted - "Convincing volume-driven gains into new all-time high territory could mark the beginning of another meaningful leg up for this high-ranked Internet - Content firm."

Waning leadership (L criteria) in the Internet - Content industry group was noted as a concern and the group has a C- rating. Bullish action from at least one other company in the group provides some reassurance. The company reported earnings +69% on +49% sales revenues for the Dec '14 quarter. That marked its 7th consecutive quarterly comparison with earnings increasing well above the +25% minimum (C criteria). 

Is current Up/Down Volume Ratio of 1.8 is an unbiased indication its shares have been under accumulation over the past 50 days. The high-ranked Internet - Content group leader has seen the number of top-rated funds owning its shares rise from 2,085 in Mar '14 to 2,568 in Dec '14, a reassuring sign concerning the I criteria. Keep in mind that its large supply of 2.21 billion shares in the public float makes it an unlikely sprinter, especially as it is already well known by the institutional crowd and the general public.