FB Rises 8%...As Euro, SPY, Financials Pause...

Four of nine sectors moved higher on Monday…XLU, XLK and XLB were the strongest sectors. 

Breadth weakened on Friday as advancers led decliners …1.02 to 1 on the NYSE and strengthened 1.51 to 1 on the NASDAQ…

SPY down .30 at 141.05...volume 100.1 million shares…

VIX up .36 at 15.50…
TNX down .29 at 16.64…

TLT up .59 cents at 124.80…
XLF down .06 cents at 15.78…volume 30.3 million shares

AAPL up 18.03 at 589.53…volume 22.5 million shares …

FB up 1.94 cents at`25.94…on volume of 123.8 million shares…

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Technical Commentary:

The SPY paused at its 30 dma after last week’s 5 point bounce.  The VIX moves up and did confirm the SPY move down.

Last week’s price action continues to look like a V bottom pattern.

The ES again closed above the 1,402 price level at 1,403.75.  NQ futures closed at 2,648.25.

The weight of the evidence continues to suggest recent support is the near-term low and this bounce is likely to continue even if it does pull back.

The Euro closed down 5 pips at 129.70 on Monday.

TNX, interest rates pulled back and TLT, bonds moved up 59 cents.  XLF was down .06 cents to 15.78.

SPY –  BO pause at 30 dma

AAPL – large white candle, 571.95 BO, closed above 30 dma

FB – large candle, BO continuation

FAS – 105.51 BO pause at 30 dma 

AMZN – large white candle BO continuation

EXPE -  BO setup 61.24

STX –  hammer, IT support

VIAB – spinning top up from DBO line

RIMM – dohi new high

CRUS –inverted hammer flag V BO test

F – white candle, flag bounce continuation

PHM – spinning top, bounce continuation off IT support

SWK – spinning top holds S1, BO setup 71.82

SWI – BO continuation

RAX – BO setup 67.18

URI – Pennant, DBO continuation

YELP – doji

XHB – bearish engulfing

XRT – gap bearish engulfing pullback

BO = breakout, DBO = diagonal breakout, CT = counter-trend, IT = intermediate term

The Market Forecast Green Line is pointed up above the lower reversal zone.

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Chart Targets:

SPY = 141.68, 143.52 short-term resistance
ES = 1,402, 1,414 fib extension

EUR/USD = 1.3020 short-term resistance

Short-term support at
1.2930, 1.2833 = Euro

139.57 = SPY

83.20 = SPXL
1,386.50 = ES
2,596 = NQ

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46 of 100 NDX stocks closed higher on Monday…

Leading NDX 100 stocks included: EBAY, NUAN, DELL, MRVL, AAPL, RIMM, BRCM, NVDA, GMCR, ROST, EA, AMZN, AVGO, ADSK, SNDK

Lagging NDX stocks included: WFM, VRSN, VRTX, KRFT, BBBY, ESRX, COST, WYNN, GOLD, CERN, SHLD, INTU, MSFT, NFLX, SPLS, GOOD

Leading stocks > +2% on Monday included:  ZAGG, FB, DECK, TSL, NTES, TIF, WDC

Lagging stocks < -2.0% included: GRPN, COH, ATI

Stocks to Watch on Tuesday…

Holding Above 30 DMA = 52
YHOO, ORLY, MYL, CERN, NFLX, RIMM, XRAY, PCLN, SBUX, QCOM, HSIC, GILD, SPLS, CSCO, NTAP, EXPE, ISRG, VMED, GMCR, EXPD, MXIM, LLTC, PCAR, SYMC, ATVI, CHKP, XLNX, EA, TXN, CMCSA, EBAY, SIAL, BIIB, LIFE, DLTR, BBBY, FISV, AMGN, CELF, CHRW, ADBE, DELL, LRCX, AMZN, GRMN, ALTR, ORCL, MRVL, ADSK, MAT, MU, AVGO

Moving Above 30 DMA = 4

SRCL, BRCM, INFY, FFIV,

Moving Below 30 DMA = 6

COST, WYNN, NWSA, PAYX, WFM, FOSL
 

Staying Below 30 DMA

SIRI, LINTA, KLAC, SHLD, FLEX, STX, MSFT, INTU, AMAT, NVDA, MCHP, SNDK, AKAM, PNRA, GOLD, INTC, ADP, FAST, BIDU, CTSH, IAB, GOOG, ESRS, VRXN, ALXN, MNST, APOL, VRTX, WCRX, BMC, VOD, DTV, NUAN, AAPL, CA, CTXS, ROST

Fourteen Week Intermediate Term Market Trend: Neutral

Short Term Market Trend: Up