SPX Rises and Pauses at Horizontal Resistance...Again...

DJIA + 126.74 +1.23% SP500 + 13.23 +1.21% COMPQ + 31.21 +1.46% Russell 2000 + 9.47 +1.63% Exchange NYSE NASD Advancing 2,436 1,893 Declining 619 863 Oil $78.37 +1.47 Gold $1,199.10 +18.00 SOX 319.54 +9.49 VIX 21.92 -2.59 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: XLB +1.94%...XLU +1.88%...XLV +1.76% Weakest Sectors: XLF +0.07%...XLE +1.32%...XLP +1.38% All nine sectors moved higher on Tuesday. Materials, Utilities Healthcare, Industrials, Technology, Consumer Discretionary, Consumer Staples and Energy were stronger than the SPX +1.21%. Sector Watch Up Trending: XLK, XLB, XLY, XLV, XLP, XLE Horizontal Breakout: XLF, XLI, XLU Sideways: Down Trending: Key Resistance Levels: 1,105 - 1,110 = October High 1,025 - 1,133 = 1,075 BO chart target - Sep 08 Low Key Support Levels 1,087 = Nov 10 Channel low 1,082 = Nov 9 S1 level 1,075 = 875 Breakout Chart Target 1,061 = Sep 16 S1 level 1,056 = Sep 25 R1 level 1,044 = October Horizontal Old Resistance Once again sellers appeared at the 1,111 horizontal resistance area. Many stocks made strong moves up. GES +12.87% and SNDA +6.50% moved higher after reporting favorable earnings. Ag related stocks POT, MOS, AGU and MON bounced off support and moved towards a horizontal resistance breakout. Check out these charts: (click image to enlarge)

Guidance: The SPX continued its support bounce and closed for the seventh time near the 1,110 resistance area. The INDU also rose and formed a new high close at 10,471.58. The intermediate term trend is up and the short term trend is still net neutral. As of today sellers still have the net control at the 1,110 resistance area in this horizontal channel. Watch for a potential breakout of resistance or a pull back in Wednesday’s trading. Many support bounce and resistance breakout setups had entry signals on Tuesday. Continue to focus on and trade setups on the charts of the stocks you watch and follow your rules. AAPL -2.94 QCOM +0.06 GOOG +6.87 BIDU +1.81 NDX 100 stocks stronger than the NDX include: SPLS, AMAT, NIHD, ALTR, FLEX, BBBY, STX, MRVL, URBN, WCRX, CHKP, ADBE, XLNX, BRCM, LINTA, RIMM, MICC, STLD, JOYG, NWSA, MXIM, FWLT, WYNN, LRCX, SHLD, ILMN, CTSH, NTAP, FISV, VRTX, PCAR, JNPR, FSLR, INTC, ATVI, MCHP, CTAS, CSCO, ADSK, SRCL, CMCSA, MSFT and NVDA. Stocks to Watch on Wednesday Leading Stocks Holding Above 30 DMA K, JW.A, AMZN, SLGN, NFLX, MCD, DLB, RCI, ESRX, MHS, WCG, ALGT, BDX, VAR, ACN, CTSH, HLF, AFAM, AMX, GR, SNHY, SYNA, WMT, DLTR, GILD, HDB, ORCL, WAB, BIDU, EZPW, PCLN, GXDX, PCP, MON, MOS, TDG, X, BIIB, NTLS, AMX, PETS, NIHD, VPRT, ICE, PSYS, EBAY, URE Moving Above 30 DMA = 10 GPRO, USD, WRC, BLUD, CLB, DECK, GES, JOYG, PWRD, UYG Moving Below 30 DMA = 1 AAPL Staying Below 30 DMA GME, FAZ, BAP, BKC, BYI, CHL, CPLA, FLS, DV, RBN, SLGN, WAB, ATW, CAM, SNA, FAS, PPD, JEC, JOSB, GMCR, JCOM, MUR, RIMM, SWN, HANS, STRA, TRLG, AMED, FSLR, APEI, PWR, SPWRA, ESI, FUQI, CBST, MYGN Intermediate Term Market Trend: Up Short Term Market Trend: Neutral