Stocks Rise as Oil Falls Again

1:47 ET DJIA + 203, SPX +21, Nasdaq +50, RUT +18, Oil -2.93 Oil prices continue their down trend after yesterday’s fluctuation. Remember the price is trending down for bigger reasons than it is fluctuating up on certain days. Financial, homebuilders and retail stocks are moving after Monday’s drop. Is this the higher low we have been looking for? The market has support bounces galore and it breaking through short-term resistance levels. The DJIA is through Monday’s R1 and its 20 DMA, close to R2/R3. The SPX is through Monday’s R1 and at its 20 DMA, close to R2/R3. The Nasdaq bounced off its 20 DMA, moved through its 30 DMA, Monday’s R1 and R2 and is near its R3. The RUT bounced off its 30 DMA and is through Monday’s R1 and R2/R3 short-term resistance. Tuesday’s Action Moving Up: X, MA, GS, ANR, BIDU, FSLR, DECK, AAPL, V, CF, SCHN, STRA, NUE, CLF, PCLN, AMZN, UAUA, FWLT, IBM, MEE, IPI, MS, RIMM, BRCM, EBAY, LEH, BAM Moving Down: SOHU, MOS, USO, CNX, MTL