Oil Up, Markets Hold Support - For Today

DJIA - 0.33, -0.00% SP500 + 0.07, +0.01% NASDAQ Comp. - 20.35, -0.85% Russell 2000 - 5.92, -0.82% Oil closed at $136.74 up $1.38 Oil rose again on Monday while the broad indices were flat to lower. XLE formed a large bullish engulfing pattern. XLF the financial sector ETF moved lower while the short financial ETF SKF moved higher. The DJIA formed a doji holding just above Friday’s low. Watch the R1 resistance on Friday’s candle and for a potential support break. The S&P formed a doji just above Friday’s low. Watch whether price action can break above R1 or below Friday’s support low. The Nasdaq broke just below the horizontal support on June 12. With the Nasdaq again below its double top support the price target is 2,310 as previously posted. The Russell (RUT) also closed near Friday’s low appears to be forming a head and shoulders top with a neckline at 716. Watchlist Stocks on Monday FSLR had a bull flag bounce today closing a recent resistance. CLF formed a bull flag and resistance breakout today with a chart price target of 125. X had a breakout today with a chart price target of 206. POT a bull flag bounce and hammer candle pattern Friday's highlighted stocks fared very well on Monday.... Up Trending highlights CF, IPI, DECK, USO, and MEE moved higher. Only MOS moved lower. CF confirmed it bullish harami on Monday. IPI extended its up trend with a big move. DECK another higher high and higher low, sellers at the 145 horizontal resistance. USO moved up still in its pennant. MEE extended it up trend with a new closing high. MOS formed a new low day today in a potential bull flag. Down Trending highlights BIDU, DRYS and MER moved lower. SOHU and IBM moved higher. BIDU continued its bear flag break and bounced on its 200 DMA today. DRYS continued its bear flag break. MER broke horizontal support at 35. SOHU formed a bullish harami and closed above its 50 DMA. Looks like the start of a bear flag. IBM formed a bullish harami consolidating at support below its 50 DMA. Monday’s Action Moving Up: FSLR, CLF, X, POT, IPI, SCHN, BTU, MEE, SOHU, AGU, CNX, FWLT, DECK, MON, USO, CF, PCLN, NUE, ESRX, IBM Moving Down: GS, BIDU, V, AAPL, MOS, RIMM, MA, DRYS, MER, LEH, MS, UAUA,MTL, SBUX, GRMN Intermediate Term Market Trend: Down (DJIA, S&P) Short Term Market Trend: Down