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Exchange NYSE NASDAQ
Advancers 2,366 2,123
Decliners 691 553
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Index Direction ConfirmationVIX Down Yes – SPX
SOX Up Yes – COMPQ
Leading stocks on Monday included RVBD, ZION, USD, AMD, FAS, FFIV, SNDK, CRUS, ATI, ESI, GES, LXK, HLF, WLT, NTES, SINA, STI, CHL, FCX, CLF, GMCR, URE, BAC, AKS, DE, PNC, CREE, GS, FLS, SWK, NETL, DOW, PCLN, UAUA, GME, TSL, NDAQ, TIE, BUCY, DLR, VECO, BYI, X, ATW, HAS, AIV, NYX, AMX, ICE, UCO, DHR, LVS, CMG, PCP, UNG, CAT
Losing stocks included FAZ, V, MA, WHR
The SPY traded 178 million shares on Monday, more than any single day last week. Futures were up over night and SPY gapped higher at the open and rose during the first hour of trading followed a pull back to 112.13 at mid-day. A rally followed in the afternoon with SPY and SPX closing near their morning highs. Look for the current short term up trend to continue into the horizontal resistance of the intermediate term sideways trend at 1,130.
All sectors rose on Monday led by Financials, Technology and Materials. Advancers led decliners 3.4 to 1 on the NYSE.
The EURO rose 201 pips forming a large white candle.
Stay focused on and trade according to the chart on Tuesday.
Monday Horizontal Breakouts - FLS, LXK, ADSK, DOW, URE, DHR
Breakout Setups for Tuesday include CAM, NIHD, SBUX, AIV, X, CAT, PCP, WLT, DLR and UPS
These Trend Continuation Stocks moved higher on Monday: CMG, FCX, SWK, NFLX, AGU, GMCR, LVS, CRM, RVBD, BUCY, JOYG, DE, SPG, UNP, CERN, NYX, CLF, HANS and FFIV. Only VMW moved lower.
Guidance:
SPX
Resistance: 1,130, 1,148
Support: 1,115, 1,100, 1,086, 1,071
The SPX made a new high close at 1,121.90 on Monday continuing its recent support bounce of the past two weeks. Volume increased as more buyers participated after last week’s low post holiday volume.
Look to enter bullish trades with a breakout of horizontal resistance or a bounce off support and a break above the high of the low day. There are numerous stocks in our list that have already broken resistance and have paused or pulled back over the past one to three trading days.
Wait to exit short term trades according to your rules with a break below the low of the high day. Wait on bearish entry signals for a bounce down from resistance or a break of the low of the high day.
The VIX fell -0.78 to 21.21 making it lowest close since May 3.
The short term 3 day trend is up.
The three-month trend is neutral.
The twelve-month trend is up.
Continue to focus on and trade setups on the charts of the stocks you watch. Trade with the trend of the chart and follow your rules.
AAPL +3.63
QCOM +0.58
GOOG +6.13
BIDU +1.93
NDX 100 stocks stronger than the NDX include: GRMN, NVDA, MSFT,STX, BRCM, LRCX, NTAP, INFY, LOGI, INTC, ADSK, CTXS, CSCO, KLAC and MCHP.
Stocks weaker than the NDX: CELG, ISRG, MICC, GENZ, ILMN, NIHD, DISH, WCRX, GILD and CEPH.
Stocks to Watch on Tuesday
Holding Above 30 DMA
HANS, HLF, PCLN, RVBD, AGU, MCD, POT, FFIV, LVS, NFLX, VMW, CMG, CRM, TSL, CLF, FCX, SINA, SPG, VOD, AIV, BUCY, CAM, DE, DHR, DLR, DOW, NYX, PCP, SWK, UNP, UPS, URE, WLT, WMT, A, BYI, GMCR, HAS, IPI, JEC, LXK, AKS, CAT, ICE, X, BAC, FAS, FDX, FLS, GS, MHS, ATW, STI, ACN, ATI
Moving Above 30 DMA = 8
AMX, GES, NTES, PNC, RMBS, UCO, USO, ZION
Moving Below 30 DMA = 1
TBT
Staying Below 30 DMA
DECK, TLT, UAUA, VECO, CHL, GR, HSY, V, FAZ, CSTR, NDAQ, GME, MA, SNDK, BA, CRUS, CREE, TIE, USD, SWN, UNG, WFMI, NETL, SKX, AMD, NTRI, ESI, WHR
Intermediate Term Market Trend: Neutral
Short Term Market Trend: Up
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