Continuation of Friday's Pennant Breakout

DJIA + 298.76, +3.46% SP500 + 33.63, +3.84% NASDAQ Comp. + 62.43, +4.14% Russell 2000 + 20.29, +4.40% Exchange NYSE NASD Advancing 3,061 2,095 Declining 825 812 Oil $43.71 +$2.90 Gold $767.40 +$16.90 SOX 196.15 +3.59 VIX 58.49 -1.44 Strongest Sectors: XLB +7.52%...XLF +6.71%...XLV +4.66% Weakest Sectors: XLP +0.46%...XLV +0.79%...XLU +1.62% Sector Watch Up Trending: Sideways: XLE, XLP, XLU Down Trending: XLF, XLY, XLV, XLI, XLB, XLK All nine Sector ETFS moved higher on Monday with XLF the second leading sector. XLF has been the strongest sector over the past two weeks rising more than 50%, forming a 30 DMA and Higher Low Breakout today. (click image to enlarge) ProphetCharts Index Commentary The DJIA continued moving up from Friday’s upside pennant pattern breakout…sellers appeared at 50 DMA as the Dow closed 7 points below its 50 DMA…again closed above its 20 and 30 DMA…broke out and closed above it Nov. 28 high . See DJIA Chart below in our post shortly before the close. The SPX broke out and closed above its 30 DMA…again closed above its 20 DMA…broke out and closed above its Nov. 28 high. Chart Signals Target: Fib=948 Breakout=977 The Nasdaq broke out and closed above its 30 DMA…closed above it Oct. 10 low and its Nov. 29 high, which represents a potential shift of intermediate term trend from down to neutral…continuation of its pennant pattern breakout on Friday The RUT broke out and closed above its 30 DMA…continuation of pennant pattern breakout on Friday. Stocks to Watch on Tuesday Leading Stocks: Holding Above 30 DMA AXYS…AYE…EZPW…PCLN…ASIA…BAP…CBST…DLTR…ESI…FLR…FSTR…TKC…JCOM…JEC…PCR…ATK…B…IRIS…MIG…RTN…SNA…TEVA…WMS…GILD...HAS…JOSB…URBN…AGN…AMZN…ROST…ACL…AFAM…AIRM…AME…ANSS…BIIB…BYI…DECK…ESRX…HDB…ICON…LFC…MCRS…NILE…PSSI Moving Above 30 DMA = 32 AAPL…AMX…AOB…BRKR…CCC…CERN…CHTT…CHU…CTSH…EPR…FWLT…GIS…GME…ICLR…IT…JW.A…MON…MTD…MTW…MYGN…NDAQ…NEU…NIHD…PRGO…PTNR…QSII…RCI…SNHY…TECH…VIVO…VMI…WAB (click image to enlarge) Moving Below 30 DMA BCR…CL…DV…PPD Staying Below 30 DMA GIS…DGIT…LAYN…NOV…OSIP…RIO…SINA…SOHU…SWN…VMI…MMM…FLIR…PCP…PETS…SPTN…STRA Monday’s Action Moving Up: POT, X, MA, FSLR, GS, SCHN, MON, NUE, CLF, AFAM, PCLN, CF, CNX, ANR, BTU, FWLT, MEE, MOS, AGU, NDAQ, V, INFY, AEM, GDX, ESRX, NIHD, SOHU, ONXX, SINA, IPI, COH, PNRA, KBE, GRMN, KMT, ADM Moving Down: STRA, HANS, ZION Intermediate Term Market Trend: Neutral – DJIA, SPX, Down – Nasdaq, RUT Short Term Market Trend: Up