Markets Pull Back...Oil Continues Down Trend

12:00 ET DJIA -76...SPX -7...Nasdaq -2...RUT -4...SOX +1...Oil -$1.90 Markets are pulling back Tuesday morning. The DJIA has formed a slightly lower high and low and is above its 50 DMA and well above Friday's S1 level. Appears to be price fluctuation at this moment. The SPX is forming an inside holding above its 50 DMA. The Nasdaq is forming an inside day at its 200 DMA. The RUT is forming an inside day well above its 200 DMA and above Monday S1 level. The SOX is forming an inside day well above its 50 DMA. It appears as of midday that the current price action is a typical pause or fluctuation of the market not a change is the current up trend. Watch key support levels to verify whether price action stays above support or breaks below. Tuesday's Action Moving Up: BIDU, POT, MON, AAPL, FSLR, SOHU, CF, CLF, MOS, X, STRA, AGU, UAUA, EXPE, MTL, SCHN, JASO Moving Down: GS, MA, FWLT, MS, RIMM, PCLN, IBM, V, DRYS, BTU, MER, AMZN, LEH, NUE, USO