SPY, VIX, TLT Rise as Rates, Financials Fall on 2012 Election Eve...

Six of nine sectors moved higher…XLE, XLB and XLK were the strongest sectors.

Breadth strengthened on Monday as advancers led decliners…1.06 to 1 on the NYSE and 1.52 to 1 on the NASDAQ…

SPY up 29 cents at 141.85...volume 98.4 million shares

VIX +0.83 at 18.42…
TNX -0.42 at 16.84…

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The Average interest rate on the national debt according to http://www.usdebtclock.org/ is 1.59%.  If the fed allowed rates to rise to 3.7%, the TNX level in Feb 2011, less than two years ago, $342 billion would be added to the federal deficit which is listed at 1.121 trillion.  This is a very serious issue.  On Tuesday voters will decide if the U.S. continues more of the same or if a serious attempt is made to address the problem and find an actual solution.  Chart Signals hopes that voters will make a serious evaluation of this and other challenges that we face and do more than cast a popularity vote.

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TLT up 69 cents at 122.26…
XLF down 3 cents at 15.97…volume 44.3 million shares

AAPL up 7.82 at 584.62…volume 18.9 million shares …

FB up 7 cents at`21.25…volume 31.8 million shares…

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Technical Commentary:
The Euro sold off 36 pips closed just below six-week support of 1.2800. Eight week support is at 1.2750.  TNX, interest rates moved down, TLT, bonds rose.

XLF was down 3 cents.

The SPY was up 28 cents closing at 141.84 above its 141 support level.  The VIX moved higher and did not confirm the SPY move up.

ES rises and holds above its 1,400 support level.  NQ is still showing confirmed MACD histogram bullish divergence.

The Market Forecast Green Line is pointed up and closed out of the lower reversal zone.

 

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Chart Targets:

SPY = 146.52 channel high, 147.88 2.61 Fib
ES = 1,466.00 2.61 Fib on ESZ2
EUR/USD = 1.3095 1.60 Fib, 1.3345 S&R Measuring

Short-term support at
1.2800, 1.2750 = Euro

141, 139.40 = SPY

82.19, 81.04 = SPXL
1,400, 1,390 = ES
2,626, 2,604 = NQ

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72 OF 100 NDX stock closed higher on Monday…

Leading NDX 100 stocks included: NVDA, FLEX, TXN, VRTX, FFIV, STX, AMAT, ALTR, MNST, MXIM

Lagging NDX stocks included: SIRI, GMCR, WCRX, ADP, WYNN, FAST, BIDU, GOOG, CHKP, VMED

Leading stocks > +2% on Monday included: TSLA, SINA, DECK, SWKS, ZAGG, ANF, ANR, SWI, CIEN, ICE, UAL, CLF, JDSUK, CREE

Lagging stocks < -2.0% included: ESI, LVS, CDE

Stocks to Watch on Tuesday…

Holding Above 30 DMA = 39
VMED, CMCSA, LINTA, SIRI, SHLD, FISV, AMGN, ISRG, ADBE, LRCX, MAT, YHOO, MYL, ORLY, PCAR, SRCL, SYMC, TXN, WYNN, CERN, CHRW, EXPD, EXPE, MXIM, NFLX, RIMM, AKAM, AVGO, EBAY, FOSL, GMCR, INTU, KLAC, LLTC, MSFT, XRAY, EA, PCLN, SBUX

Moving Above 30 DMA = 8

AMAT, MU, NVDA, ORCL, SNDK, SPLS, WFM, XLNX

Moving Below 30 DMA = 1
PAYX

Staying Below 30 DMA

ADP, ADSK, FAST, INTC, LIFE, BIDU, PNRA, GILD, EXPD, CTSH, GOLD, NWSA, PCAR, SIAL, VIAB, ALXN, CELG, ESRX, MNST, TXN, VRSN, BIIB, FLEX, GOOG, MYL, CHKP,  APOL, INFY, ORLY, VRTX, COST, AMZN, BMC, FFIV, GRMN, HSIC, VOD, WCRX, DLTR, DTV, NUAN, QCOM, AAPL, ATVI, BRCM, CA, NTAP, CTXS, SYMC, CSCO, ALTR, BBBY, KLAC, MCHP, ROST, STX, DELL, MRVL, KRFT

Twelve Week Intermediate Term Market Trend: Neutral

Short Term Market Trend: Neutral