The SPX formed a white candle closing up +5.52 at 1,324.57, a new high close and closing above its 1.321 price target intra-day. Next breakout price target 1,330.
SPX white candle, new high close
INDU white candle, new high close
COMPQ white candle new high close
RUT white candle horizontal breakout, new high close
Breadth weakened on Tuesday as advancers led decliners 1.77 to 1 on the NYSE and 1.38 to 1 on the NASDAQ …
Exchange NYSE NASDAQ
Advancers 1,927 1,542
Decliners 1,084 1,112
Index Chg. Close Direction Confirmation
VIX -0.47 15.81 Down Yes – SPX
SOX -0.35 461.25 Down No – COMPQ
Leading stocks > +2% on Tuesday included MCP, VECO, CSTR, SNDK, GMCR, SLW, MCD, PNC
Leading stocks > +2% on Tuesday included MCP, VECO, CSTR, SNDK, GMCR, SLW, MCD, PNC
Losing stocks < -2.0% included NDAQ, NVDA, NTES, TSL, DISH
Positives – NDX, COMPQ, SPX, VIX, INDU, AAPL, AMZN, GOOG, QCOM, TNX rose, XLF second leading sector
Negatives – SOX, breadth weakened slightly, sectors were modestly weaker
Interest rates moved higher on Tuesday and bond ETF TLT closed down 82 cents. The Euro moved up 43 pips to 1.3624 at 5 pm ET.
Seven of nine sectors moved higher on Tuesday with Consumer Discretionary XLY +1.19% and Financials XLF +0.71% leading all sectors.
Earnings – continue to watch earnings releases this week...
Four Flags, Amusing, but not a Park...
Four Flags, Amusing, but not a Park...
(click image to enlarge)
SPX
Resistance: 1,321, 1,330
Support: 1,311, 1,300, 1,281
The short term 3 day trend is up.
The six-month trend is up.
The twelve-month trend is up.
The six-month trend is up.
The twelve-month trend is up.
Trade with the trend of the chart you are trading.
Bullish entry signal is a bounce off support and a break above the high of the low day or a break out of horizontal resistance.
Bearish entry signal is a break of short term support or a bounce down from the 30 DMA or other resistance.
AAPL +3.32 – white candle, new high close
AMZN +6.63 – large white candle, support bounce continuation
NFLX -0.39 – hammer at old resistance, new support
QCOM +1.03 – white candle, new high close
GOOG +4.08 – white candle, support bounce nearing resistance, potential bear flag
BIDU +0.88 – white spinning top above gap support
NDX 100 stocks stronger than the NDX include: URBN, SNDK, AMZN, MICC, SHLD, EXPE, SBUX, NWSA, QCOM, WYNN and SIAL
Stocks weaker than the NDX include: TEVA, NVDA, CTRP, BRCM, AMAT, ILMN, ADSK, MYL and FLEX
Stocks to Watch on Wednesday
Holding Above 30 DMA
SINA, NDAQ, SMH, NVDA, FWLT, PCX, CLF, CRUS, HOLX, DE, FAS, GLW, JEC, ACN, NYX, ATI, URE, DISH, BA, POT, SWN, TSL, DLR, HANS, HUM, LDK, NTES, CAM, SLB, TIE, MA, SPG, STI, CAT, DOW, MOS, NETL, SOHU, SWKS, ATW, SWK, TBT, ICE, JNPR, PCP, X, AGU, AMD, BAC, CF, DHR, IPI, LXK, PNC, SKX, V, ZION, ARUN, CIEN, CMG, HSY, MCP, DECK, GMCR, TIF, UAL, A, CRM, GES, RVBD, HAS, SLW, VECO
Holding Above 30 DMA
SINA, NDAQ, SMH, NVDA, FWLT, PCX, CLF, CRUS, HOLX, DE, FAS, GLW, JEC, ACN, NYX, ATI, URE, DISH, BA, POT, SWN, TSL, DLR, HANS, HUM, LDK, NTES, CAM, SLB, TIE, MA, SPG, STI, CAT, DOW, MOS, NETL, SOHU, SWKS, ATW, SWK, TBT, ICE, JNPR, PCP, X, AGU, AMD, BAC, CF, DHR, IPI, LXK, PNC, SKX, V, ZION, ARUN, CIEN, CMG, HSY, MCP, DECK, GMCR, TIF, UAL, A, CRM, GES, RVBD, HAS, SLW, VECO
Moving Above 30 DMA = 5
GS, HLF, MCD, MHS, UNP
Moving Below 30 DMA = 2
AKS, ESI
Staying Below 30 DMA
AIV, LVS, WLT, UCO, UNG, WHR, F, FDX, TLT, CHL, VMW, FCX, CREE, GME, CSTR, FAZ
AIV, LVS, WLT, UCO, UNG, WHR, F, FDX, TLT, CHL, VMW, FCX, CREE, GME, CSTR, FAZ
Short Term Market Trend: Up
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