Trading SPY Forms White Spinning Top After Lower Open...

All nine sectors moved lower on Monday, XLU, XLK and XLY were the strongest sectors.

Breadth weakened as decliners led advancers 3.75 to 1 on the NYSE and 4.50 to 1 on the NASDAQ.

Exchange        NYSE       NASDAQ

Advancers         636              462

Decliners        2,386           2,082

New High – PCLN, ORLY, AAPL, FOSL

SPY closes down $1.57 on volume of 127.5 million shares.

Support Bounce Setup on STX, EBAY, BIDU, ATVI, GOLD, RIMM

Leading NDX 100 stocks included GOLD, STX, RIMM, EBAY, PCLN, ORLY, AAPL, BIDU, ATVI, YHOO

Lagging NDX stocks included VRTX, FSLR, NFLX, CTXS, MU, PCAR, MYL, FAST, WCRX, GILD

Leading stocks > +2% on Monday included MCP, FAZ, LVS, TLT,

Losing stocks < -2.0% included TSL, TBT, FAS, CREE, TSLA, JDSU, BAC, STI, DE, ZAGG, CIEN, A, MOS, RVBD, INFA, LDK, C, ZION, HUM, ESI, SWKS, X, GRPN, F

Stocks to Watch on Tuesday

Holding Above 30 DMA = 21

CMG, TPX, LNKD, LVS, CSTR, CRM, INFA, VMW, IBM, V, DLR, NTES, ZION, DHR, MCP, CHL, CROX, ZAGG, HUM, UAL, NKE

Moving Above 30 DMA = 1

TLT

Moving Below 30 DMA = 11

A, BAC, CIEN, DE, FAS, HLF, SMH, STI, SWK, TBT, URE

Staying Below 30 DMA

ANF, CLF, F, GLW, JDSU, WDC, X, C, CREE, CRUS, ESI, GS, RVBD, SOHU, SWI, SWKS, TSLA, COH, JNPR, RCL, TIF, GRPN, MOS, UCO, VECO, ICE, AKS, SINA, TSL, ATI, GES, FAZ, CDE, LDK, SLB, DECK, FCX, ANR, PCX

Six Month Intermediate Term Market Trend: Up

Short Term Market Trend: Down