SPX Holds Near Resistance as RUT, XLE and XLB Advance...

On Monday the SPX closed at 1,223, down – 1.59 or -0.13%, the COMPQ moved up +3.46, the INDU pulled back -19.90. The RUT closed up +4.44 making another new high close following its horizontal breakout last Wednesday.

Breadth weakened from Friday as decliners led advancers 1.02 to 1 on the NYSE and remained positive as advancers led decliners 1.35 to 1 on the NASDAQ…

Exchange     NYSE    NASDAQ
Advancers    1,474      1,537
Decliners      1,509      1,131

Index   Direction   Confirmation
VIX        Up            Yes – SPX
SOX       Down       No – COMPQ

Leading stocks on Monday included LDK, WHR, NFLX, WLT, UNG, RMBS, SOHU, NTRI, X, CSTR, AMD, CMG, RVBD, FLS, TSL, CRM, MA, IPI, AKS, TLT, V, NETL, BYI, VECO, ICE, JEC,DE, FCX, GES, AIV, NDAQ, PCLN, AGU, DOW, ZION, FAZ, CAKE

Losing stocks included GMCR, SKX, TBT, UAL, BAC, FDX, TIE, SWN, HLF, CF, SNDK, LXK, INFA, CAM, A, F, DLR, HSY, GR, STI, ATI, MHS, LVS, CREE

Interest rates moved lower, bonds moved higher, the Euro fell and the SOX closed -0.16% lower and stayed well above its horizontal breakout level last Wednesday. The SOX remains a leading group at this time. The VIX was essentially unchanged moving up +0.01 to close at 18.02.

Four of nine sectors moved higher on Monday with Energy XLE +0.33% and Materials XLB +0.16% reversing the one and two spot from Friday while leading all sectors for the second day in a row.

Charts to Watch
Check out these charts – CRM, CSTR, DOW, ICE, LDK, NFLX, RVBD, SNDK, TSL, WHR, STLD, X, RIMM

Continue to trade with the up trend and look for a potential break of horizontal resistance next week.

SPX

Resistance:, 1,220, 1,241, 1,256

Support: 1,209, 1,200, 1,190

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.  Thursday was an entry signal for many stocks.

Wait to enter bearish trades for break of short term support or a bounce down from the 30 DMA.

The short term 3 day trend is up.
The two-month trend is up.
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 +2.71 – potential shooting star near resistance in sideways channel

AMZN +2.37 – bullish engulfing in bull flag

QCOM -0.49 – spinning top near resistance in consolidation

GOOG +5.36 – spinning top in potential bear flag

BIDU +2.86 – spinning top a short term resistance

NDX 100 stocks stronger than the NDX include FLEX, FSLR, CSCO, ERTS, SHLD, AMZN, MYL, JOYG, COST, RIMM, GOOG, BIDU, AAPL, VMED and VOD.

Stocks weaker than the NDX: CELG, NVDA, PDCO, WCRX, QGEN, NTAP, GILD, CTAS, HOLX, ATVI, SNDK, FISV, FWLT, FLIR and VRTX.

Stocks to Watch on Tuesday
Holding Above 30 DMA
HLF, PCLN, LVS, CMG, SINA, CAKE, CAM, UNP, WLT, ATW, SLB, NDAQ, USD, DECK, GR, VECO, CSTR, RVBD, WFMI, NFLX, BYI, MHS, NETL, FFIV, SWN, CAT, X, CREE, BUCY, GES, HAS, MCD, UNG, CLF, CRM, INFA, VMW, HANS, RMBS, SNDK, CRUS, GMCR, CF, AIV, AKAM, ATI, PCP, POT, SKX, FCX, FDX, AKS, A, AMD, ARUN, DHR, DOW, FLS, GME, ICE, MA, PNC, SPG, TBT, UCO, DE, FAS, JEC, STI, SWK, URE, WHR, ZION, AGU, IPI, SOHU, V
Moving Above 30 DMA = 1
AMX
Moving Below 30 DMA = 2
BAC, TIE
Staying Below 30 DMA
GS, NTRI, UAL, FAZ, TLT, MOS, ESI, NTES,LDK, ACN, CHL, NYX, TSL, BA, HSY, LXK, DLR

Intermediate Term Market Trend: Up – 2 months
Short Term Market Trend: Up