SPX Rises Again...COMPQ and RUT Gain More...

DJIA + 131.25 +1.37% SP500 + 14.26 +1.37% COMPQ + 35.42 +1.71% Russell 2000 + 10.87 +1.84% Exchange NYSE NASD Advancing 2,422 2,027 Declining 622 688 Oil $70.88 +$0.47 Gold $1,038.60 +21.90 SOX 319.58 +6.49 VIX 25.70 -1.14 The VIX moved down and did confirm the move up in the SPX on Tuesday. The SOX moved up and did confirm the move up in the COMPQ. Strongest Sectors: XLE +2.37%...XLB +2.09%...XLK +1.81% Weakest Sectors: XLU +0.76%...XLV +0.81%...XLP +0.91% All nine sectors moved higher on Tuesday. Energy, Materials, Technology and Consumer Discretionary were stronger than the SPX +1.37%. Financial stocks stronger than XLF +1.29%: SCHW, AFL, MS, JPM, CB, WFC, USB, BK, MET, ZION, PRU and ETFs UYG and FAS. Tech stocks stronger than XLK +1.81%: GLW, EBAY, AMAT, YHOO, ADBE, INTC, EMC, DELL, AMT, TXN, AAPL, GOOG and MSFT. Sector Watch Up Trending: XLK, XLB, XLY, XLV Horizontal Breakout: XLF Sideways: XLE, XLP, XLI, XLU Down Trending: Key Resistance Levels: 1,056 = Sep 25 R1 level 1,061 = Sep 16 S1 Level 1,075 = 875 Breakout Chart Target 1,100 = September 2008 Old Support Key Support Levels 1,044 = October Horizontal Old Resistance 1,025 = 950 Breakout Chart Target 1,017 = Aug 27 Support Low 1,007 = November 2008 Horizontal Resistance The SPX continued Monday’s support bounce breaking the 1,044 horizontal resistance rising to 1,060 before settling back and closing at 1,054.72. Once again last October’s 1,044 resistance becomes new support. (click image to enlarge) Earnings season which was the market driver in July and August kicked off the fall season on Monday after the close with MOS reporting lower earnings but with positive outlook moving forward. The stock rose 1.93 or 4.2% on Tuesday. COST, MON and FDO report on Wednesday before the market open. AA announces its earnings after the close. Guidance: The intermediate term trend is up with the support bounce momentum also moving up on Tuesday. AAPL and PCLN broke out of horizontal resistance on Tuesday, while ISRG continues to hold just above its horizontal breakout. Watch for a support bounce continuation on Wednesday. If a pause occurs, focus on if the price action stays above the 1,044 horizontal support level. Breakout: AAPL, PCLN, ISRG Potential Breakout Setups: HANS, BIDU, FLS, JCG Pulling Back: APOL Potential C Patterns: C Pattern Breakout: ADSK Lower Close Support Bounce: LVS, WHR, BDK, WLT Flag Setups and Bounces in Progress: FCX, CAM, DOW, JOYG, PCLN, WYNN, BA, AKAM, BUCY, FWLT, CAT, FLIR, MRVL, XLNX, DE, JEC, JCI, AGU, HOLX, NWSA, DD, X, FAST, STT, SPG, ZION, AXP, ADBE, BAC, INTC, FSLR, AMZN, AMX Potential Down Trend Setups: TXN, RIMM, AGCO, MON, MYGN, ORCL, MA, V AAPL +3.98 QCOM +0.68 GOOG +10.22 BIDU +19.11 NDX 100 stocks stronger than the NDX: BIDU, EXPE, EBAY, ROST, URBN, ADSK, LOGI, MXIM, ADBE, ERTS, KLAC, LRCX, ATVI, INTC, CHKP, VRSN, GRMN, BRCM, HOLX, AMZN, AKAM, CERN, SIAL, DELL, SBUX, RYAAY, CTXS, JNPR, AAPL, SHLD, GOOG, JOYG, MSFT and MICC. Stocks to Watch on Wednesday Leading Stocks Holding Above 30 DMA CTSH, AAPL, PETS, PCLN, TDG, PCP, CLB, ESRX, NTLS, NIHD, K, FLS, GXDX, BAP, GME, PWRD, WRC, BIDU, HDB, JW.A, ATW, EZPW, JOYG, TRLG, GPRO, PPD, DECK, VPRT, AMZN, GMCR, ACN, SLGN, FSLR, NFLX, HANS, DV, ESI, STRA, MCD, CPLA, HLF, SWN, AFAM, AMED, CAM, GES, ICE, UYG Moving Above 30 DMA = 7 AMX, DLTR, EBAY, FAS, MUR, SPWRA, WCG Moving Below 30 DMA = 1 PPD Staying Below 30 DMA APEI, FAZ, BDX, BIIB, BKC, GILD, JCOM, JOSB, RCI, VAR, SNHY, USD, URE, FUQI, JEC, MHS, WAB, X, CBST, RBN, RIMM, ALGT, CHL, DLB, PSYS, BLUD, GR, MYGN, PWR, SNA, SYNA, MOS, BYI, ORCL, WMT, MON Intermediate Term Market Trend: DJIA = Neutral, Nasdaq, RUT, SPX = Up Short Term Market Trend: Up