SPX Pauses...Holds Above Friday's S1...

INDU       10,812.04     -48.22   -0.44%
SPX          1,142.16       -6.51   -0.57%
COMPQ     2,369.77    -11.45   -0.48%
RUT             668.29      -2.72   -0.41%

Exchange     NYSE    NASDAQ
Advancers     1,259       1,051
Decliners       1,726       1,615

Oil           $76.16   -0.36
Gold   $1,296.30   -2.30
SOX        343.80   -2.34
VIX           22.54  +0.83

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

Leading stocks on Monday included LVS, GMCR, RMBS, NETL, DECK, NTES,, SKX, AMD, FAZ, ATW, MOS, HANS, CRUS, TLT, NFLX, CMG, HAS, DLR, TIE, GES, BUCY, V, JEC, SINA, ICE, ATI, MA, AKS, PCLN

Losing stocks included ESI, TBT, PNC, UNG, BAC, FAS, TSL, VECO, AIV, NDAQ, CRM, URE, WHR, IPI, SWN, HLF, PCP, WFMI, HSY, SPG, NYX, USD, VOD, CREE, MHS, CSTR, WMT, RVBD, BA, DHR, X, ZION

The SPX failed to break through its 1,148 resistance and the four broad indexes pulled back on Monday while staying above their respective S1 levels on Friday.

NFLX moved higher on Monday closing at 164.99.

The 26 bull flag entries from Friday including SPY, DIA, QQQQ and IWM on Monday stayed above their recent support low. CRM and VOD closed near their recent low. CMG, JOYG, BUCY, GES, SINA, PCLN, GMCR, FFIV and AKAM continued to rise on Monday.

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

The SPX pulled back follow last week’s rising three methods trend continuation five candle pattern. The pull back on Monday stayed above Friday’s S1 level.

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

On Monday many charts formed potentially bearish candles that could lead to a short term pull back if confirmed.  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 +0.83 to 22.54, 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.

AAPL    -1.15 – bearish engulfing of doji
QCOM +0.04 – spinning top
GOOG  +3.12 – potential shooting star
BIDU    +5.99 – large white candle did not confirm Friday’s potential hanging man

NDX 100 stocks stronger than the NDX include: BIDU, HANS, SYMC, RYAAY, KLAC, CHKP, ERTS, MCHP, GOOG, LBTYA, FSLR, AKAM, FLEX, JOYG and PCLN.

Stocks weaker than the NDX: ISRG, SHLD, WYNN, VRTX, LLTC, GRMN, BIIB, NWSA, JBHT, APOL, NVDA, PPDI, TEVA, NTAP and GILD.

Stocks to Watch on Tuesday
Holding Above 30 DMA
HLF, PCLN, RVBD, AGU, MCD, POT, FFIV, LVS, NFLX, VMW, CMG, CRM, TSL, FCX, SINA, SPG, VOD, AIV, BUCY, CAM, DE, DHR, DOW, PCP, SWK, UNP, UPS, URE, WLT, WMT, A, GMCR, HAS, IPI, JEC, LXK, CAT, ICE, FLS, MHS, ATW, STI, ACN, ATI, AMX, GES, PNC, RMBS, ZION, NDAQ, UAUA, USD, VECO, MA, NETL, ESI, GME, HSY, WFMI, CHL, FDX, NTRI, AMD, TIE, V, ATI, BA, BAC, CRUS, DECK, DLR, GR, GS, HANS, UCO, USO, WHR
Moving Above 30 DMA = 3
AKS, NTES, TLT
Moving Below 30 DMA = 4
CLF, GS, NYX, TBT
Staying Below 30 DMA
BYI, PNC, X, FAZ, CSTR, SNDK, CREE, SWN, UNG, SKX

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