DJIA - 104.14 -1.00%
SP500 - 11.31 -1.03%
COMPQ - 16.62 -0.76%
Russell 2000 - 5.86 -0.97%
Exchange NYSE NASD
Advancing 921 873
Declining 2,076 1,844
Oil $72.62 -1.31
Gold $1,142.80 -20.60
SOX 336.96 +0.24
VIX 23.69 +1.59
The VIX moved up and did confirm the move down in the SPX on Tuesday. The SOX moved up and did not confirm the move down in the COMPQ for the second straight day.
Strongest Sectors: XLU -0.42%...XLY -0.75%...XLV -0.78%
Weakest Sectors: XLE -1.70%...XLB -1.60%...XLI -1.53%
All nine sectors moved lower on Tuesday. Utilities, Consumer Discretionary, Healthcare, Financials and Technology were stronger than the SPX -1.03%.
Sector Watch
Up Trending: XLK, XLB, XLY, XLV, XLP, XLE
Horizontal Breakout: XLF, XLI, XLU
Sideways:
Down Trending:
Key Resistance Levels:
1,101 = October High
1,113 = November High
1,119 = December 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
Check out these charts:
(click image to enlarge)
Guidance: The SPX fell to support in its four week trading range hitting a low of 1,088.61 before closing at 1,091.94. AAPL formed a bullish harami after pulling back for more than a week. GOOG formed a white spinning top after moving sideways over the past week.
Financials, XLF formed a spinning top as it continued in its congestion area near support. The XLF was stronger than the SPX and was not the weakest sector as is often the case on a strong down day.
Gold and oil prices slipped further as the dollar was stronger again on Tuesday. The Euro fell to 1.47 support after falling 400 pips over the past four days.
Semiconductors were again relatively stronger as XLNX, NVLS, ALTR, SNDK AMD and LRCX all moved higher. CREE is in a modest bull flag and formed a doji today.
GMCR +4.02%, RIMM +1.46% and ZION +3.62% all rose from potential reversal patterns.
Ag-related stocks POT, MOS pulled back and AGU rose.
Continue to focus on and trade setups on the charts of the stocks you watch and follow your rules.
AAPL +0.92
QCOM -0.30
GOOG +0.80
BIDU -2.16
NDX 100 stocks stronger than the NDX include: XLNX, ALTR, VRTX, RIMM, JBHT, LRCX,ERTS, MXIM, IACI, NTAP, APOL, FLIR, AMAT, CMCSA, NWSA, AAPL, DTV, CHRW, INFY, MCHP, GOOG, CEPH, YHOO, PCLN, AMZN, EXPD, ESRX, CERN, LLTC, CHKP, CTSH and PCAR.
Stocks to Watch on Wednesday
Leading Stocks
Holding Above 30 DMA
K, JW.A, AMZN, SLGN, MCD, DLB, RCI, ESRX, MHS, WCG, ALGT, BDX, VAR, ACN, CTSH, HLF, AFAM, AMX, GR, SNHY, SYNA, WMT, GILD, HDB, BIDU, EZPW, PCLN, GXDX, PCP, MON, MOS, TDG, X, BIIB, NTLS, AMX, PETS, NIHD, VPRT, PSYS, URE, BLUD, DECK, GES, GPRO, USD, BAP, BKC, CBST, SNA, FSLR, BYI, CPLA, MYGN
Moving Above 30 DMA = 2
STRA, FAZ
Moving Below 30 DMA = 4
ORCL, SPWRA, WAB, WRC
Staying Below 30 DMA
CLB, JCOM, EBAY, FAS, UYG, NFLX, DLTR, ICE, JOSB, JOYG, PWRD, AAPL, GME, CHL, FLS, DV, RBN, SLGN, ATW, CAM, PPD, JEC, GMCR, MUR, RIMM, SWN, HANS, TRLG, AMED, APEI, PWR, ESI, FUQI,
Intermediate Term Market Trend: Up
Short Term Market Trend: Neutral
Guidance: The SPX fell to support in its four week trading range hitting a low of 1,088.61 before closing at 1,091.94. AAPL formed a bullish harami after pulling back for more than a week. GOOG formed a white spinning top after moving sideways over the past week.
Financials, XLF formed a spinning top as it continued in its congestion area near support. The XLF was stronger than the SPX and was not the weakest sector as is often the case on a strong down day.
Gold and oil prices slipped further as the dollar was stronger again on Tuesday. The Euro fell to 1.47 support after falling 400 pips over the past four days.
Semiconductors were again relatively stronger as XLNX, NVLS, ALTR, SNDK AMD and LRCX all moved higher. CREE is in a modest bull flag and formed a doji today.
GMCR +4.02%, RIMM +1.46% and ZION +3.62% all rose from potential reversal patterns.
Ag-related stocks POT, MOS pulled back and AGU rose.
Continue to focus on and trade setups on the charts of the stocks you watch and follow your rules.
AAPL +0.92
QCOM -0.30
GOOG +0.80
BIDU -2.16
NDX 100 stocks stronger than the NDX include: XLNX, ALTR, VRTX, RIMM, JBHT, LRCX,ERTS, MXIM, IACI, NTAP, APOL, FLIR, AMAT, CMCSA, NWSA, AAPL, DTV, CHRW, INFY, MCHP, GOOG, CEPH, YHOO, PCLN, AMZN, EXPD, ESRX, CERN, LLTC, CHKP, CTSH and PCAR.
Stocks to Watch on Wednesday
Leading Stocks
Holding Above 30 DMA
K, JW.A, AMZN, SLGN, MCD, DLB, RCI, ESRX, MHS, WCG, ALGT, BDX, VAR, ACN, CTSH, HLF, AFAM, AMX, GR, SNHY, SYNA, WMT, GILD, HDB, BIDU, EZPW, PCLN, GXDX, PCP, MON, MOS, TDG, X, BIIB, NTLS, AMX, PETS, NIHD, VPRT, PSYS, URE, BLUD, DECK, GES, GPRO, USD, BAP, BKC, CBST, SNA, FSLR, BYI, CPLA, MYGN
Moving Above 30 DMA = 2
STRA, FAZ
Moving Below 30 DMA = 4
ORCL, SPWRA, WAB, WRC
Staying Below 30 DMA
CLB, JCOM, EBAY, FAS, UYG, NFLX, DLTR, ICE, JOSB, JOYG, PWRD, AAPL, GME, CHL, FLS, DV, RBN, SLGN, ATW, CAM, PPD, JEC, GMCR, MUR, RIMM, SWN, HANS, TRLG, AMED, APEI, PWR, ESI, FUQI,
Intermediate Term Market Trend: Up
Short Term Market Trend: Neutral
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