Oil Breaks Support...Indices Break Key DMA's

12:30 ET DJIA +216...SPX +22...Nasdaq +38...RUT +10...Oil -$2.61 Oil breaks the important support lows of July 29 and August 4 this morning. Measuring off the June 4 low, this support break gives a chart target in the area of $98.50. Stocks are gaining strength with advancers leading decliners on the NYSE 2,223 to 746 and on the Nasdaq 1,754 to 959. The DJIA, SPX and Nasdq have all moved back above their 30 DMA. The RUT has moved back above its 50 DMA. The SOX is also moving higher and is near is 20 DMA. Consider focusing in on my One Green Arrow Strategy as I suggested in my audio commentary last week for potential practice (paper) trading opportunities. Tuesday's Action Moving Up: PCLN, DECK, AAPL, RIMM, X, MA, FSLR, BIDU, STRA, SCHN, AMZN, CELG, MOS, MS, NIHD, MER, LEH, BTU, UAUA Moving Down: CLF, CF, POT, IPI, USO, MEE, FWLT