SPX Bounces to New High Close...

Dave taught the first day of a two-day AT Workshop in Dallas on Tuesday...

The SPX formed a large white candle, reversing Monday’s small bullish engulfing pattern closing above its 30 DMA up +9.25 at 1,319.44.  Stocks remain strong moving into the end of the calendar quarter on Thursday.

SPX large white candle, close above 30 DMA, +0.71%
INDU white candle, close above 30 DMA, +0.67%
COMPQ large white candle, close above 30 DMA, +0.96%
RUT large white candle, close above 30 DMA, +0.94%

Breadth strengthened and turned positive on Tuesday as advancers led decliners 2.24 to 1 on the NYSE and 2.02 to 1 on the NASDAQ …

Exchange     NYSE     NASDAQ
Advancers    2,087        1,767
Decliners          928           871

Index     Chg.     Close     Direction     Confirmation
VIX        -1.28      18.16         Down         Yes – SPX
SOX     +4.29    441.04         Up              Yes – COMPQ

Leading stocks > +2% on Monday included SOHU, MCP, AKS, SLB, SINA, CIEN, TIF, CMG, LDK, GES, VLO, CLF, RVBD, WLT, X, GMCR, JEC, DECK

Losing stocks < -2.0% included UNG, ESI, UAL

Positives – SPX, VIX, INDU, COMPQ, RUT, breadth and sectors strengthened, AMZN, BIDU, GOOG, PCLN, QCOM, bonds fell, TNX, Euro

Negatives – 

Interest rates TNX closed higher on Monday and bond ETF TLT fell 71 cents. The Euro rose 28 pips to 1.4111 at 5 pm.

All nine sectors moved higher on Tuesday with Energy XLE +1.22% and Materials XLB +1.05% the strongest sectors.

SPX
Resistance: 1,321, 1,330
Support: 1,311, 1,300, 1,288, 1,281

The short term 3 day 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 +0.52 –white candle, close above 30 DMA, -9.8% correction from Mar 7
AMZN +5.27 – large white candle, close above 30 DMA, -16.1% correction from Feb 14
NFLX +0.06 – spinning top inside day, -23.6% correction from Feb 14
QCOM +1.73 – large white candle, -16.2% correction from Mar 1
GOOG +6.37 – white candle bullish harami, -12.6% correction from Feb 18
BIDU +2.33 – large white candle, piercing line

NDX 100 stocks stronger than the NDX include FFIV, QCOM, VRTX, AMZN, ILMN, PCAR, EBAY, CEPH, VMED, FLEX, INFY, RIMM, VOD, ORCL and SHLD.

Stocks weaker than the NDX include APOL, SPLX, NVDA, JOYG, INTC, ERTS, STX, MRVL, DELL, BRCM, MAT, ATVI, SBUX and TEVA.

Stocks to Watch on Wednesday
Holding Above 30 DMA
HUM, ARUN, GMCR, HLF, HAS, SINA, TLT, FAZ, SWN, UCO, CAT, CSTR, UNG, WDC, SLW, SWK, ATW, DHR, FCX, NTES, VECO, VLO, MCP, A, CLF, DE, PCX, WLT, ACN, ATI, F, NETL, SOHU, TSL, UNP, CMG, DOW, SLB
Moving Above 30 DMA = 7
AKS, DECK, DLR, FWLT, JEC, URE, X
Moving Below 30 DMA = 0

Staying Below 30 DMA
AMD, ESI, ICE, IL, CAM, NYX, RVBD, JNPR, BAC, TIF, CHL,NDAQ, V, FAS, GLW, JDSU, TBT, AGU, CRUS, SWKS, CIEN, GES, IPI, MHS, MOS, POT, SMH, CF, CRM, LDK, SNDK, STI, GS, LVS, NVDA, UAL, ZION, VMW

Eight Week Term Market Trend: Neutral
Short Term Market Trend: Up