SPX Pauses and Holds Above Monday's S1....

INDU          10,761.03  +7.41  +0.07%
SPX             1,139.78   -2.93   -0.26%
COMPQ        2,349.35   -6.48   -0.28%
RUT                664.66   -5.32   -0.79%

Exchange     NYSE     NASDAQ
Advancers    1,073        1,002
Decliners      1,913        1,640

SOX     335.29    -0.83
VIX        22.35   +0.85

Index    Direction    Confirmation
VIX          Up             Yes – SPX
SOX         Down        Yes – COMPQ

Leading stocks on Monday included UAUA, NFLX, GMCR, FAZ, LXK, CAT, NTRI, UNG, TLT, AMD, AMX, FDX, PCP, BA, ATW, UNP, CRUS, MCD, MHS, USD, SWN, SINA, A, JEC, CHL, DOW

Losing stocks included SNDK, URE, SKX, UCO, VECO, ATI, TSL, TBT, MOS, PNC, DECK, IPI, FAS, WFMI, DLR, ZION, CLF, PCLN, WHR, USO, STI, LVS, AGU, CRM, ICE, CSTR, AIV, FFIV, NYX, VMW, CMG, RMBS, GES, X, SPG, BUCY, HLF, NDAQ, HAS

SPX
Resistance: 1,148, 1,170
Support: 1,130, 1,115, 1,100

The SPX paused following Monday’s breakout and pulled back to Monday’s S1 level at 1,136 before closing at 1,140 and staying above 1,130.

Enter bullish trades with a breakout of horizontal resistance or a bounce off support and a break above the high of the low day.

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 rose +0.85 to 22.35, and is still below the 25 benchmark level.

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.

NDX 100 stocks stronger than the NDX include: NVDA, RIMM, FWLT, YHOO, KLAC, TEVA, CELG, BIDU, STX and QCOM.

Stocks weaker than the NDX: PCLN, WYNN, NTAP, APOL, ISRG, LLTC, CTXS, GRMN, CTSH, ORCL, ROST, AMZN, HSIC and URBN.

Stocks to Watch on Wednesday
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, BAC, FAS, FDX, FLS, GS, MHS, ATW, STI, ACN, ATI, AMX, GES, PNC, RMBS, ZION, NDAQ, UAUA, USD, VECO, DECK, MA, NETL, ESI, GME, HSY, WFMI, GR, CHL, FDX, HANS, NTRI, WHR
Moving Above 30 DMA = 2
AMD, BA
Moving Below 30 DMA = 1
TBT
Staying Below 30 DMA
PNC, X, CLF, NTES, TLT, UCO, USO, V, FAZ, CSTR, SNDK, CRUS, CREE, TIE, SWN, UNG, SKX

Intermediate Term Market Trend: Neutral
Short Term Market Trend: Up