SPX Closes Near Horizontal Support...

DJIA - 161.27, -1.94% SP500 - 17.69, -1.97% NASDAQ Comp. - 41.23, -2.31% Russell 2000 - 9.78, -1.98% Exchange NYSE NASD Advancing 649 655 Declining 2,352 2,028 Oil $62.93 -$1.12 Gold $929.10 -$1.60 SOX 252.73 -7.51 VIX 30.85 +1.85 The VIX moved up and did confirm the move down in the SPX on Tuesday. Strongest Sectors: XLV -0.39%...XLP -1.24%...XLF -1.57% Weakest Sectors: XLI -3.42%...XLB -2.85%...XLY -2.68% All nine sectors moved lower on Tuesday. Financial stocks stronger than XLF -1.57%: KEY, WFC, JPM, BAC, RF, PNC, ZION, USB and NTRS. Tech stocks stronger than XLK -2.47%: SYMC, IBM, CSCO, INTC, AMT, T, AAPL, HPQ, ORCL and VZ. Sector Watch Up Trending: Horizontal Breakout: XLB, XLK, XLY Sideways: XLE, XLV, XLF, XLP, XLI, XLU Down Trending: SPX Key resistance levels: 885 = 200 DMA 908 = 50 DMA 920 = horizontal end of May high 930 = horizontal 944 – 956 = January/June horizontal 962 = 161.8% Fib extension Key support levels: 875 = horizontal Monday's hammer pattern in the broad indices did not confirm on Tuesday as the SPX broke below its 200 DMA support today and closed at 881, just above its 875 horizontal support. The broad indices are at a key support level if broken could lead to significantly lower prices including approximately 800 on the SPX. On Wednesday we will be watching this key support level closely. Stocks to Watch on Wednesday Leading Stocks Holding Above 30 DMA K, CPLA, BDX, STRA, GILD, ACN, PSYS, ESRX, MHS, BKC, SLGN, AMED, HLF, FAZ, ALGT Moving Above 30 DMA = 1 PPD Moving Below 30 DMA = 12 AAPL, AMX, APEI, BYI, CTSH, DECK, DV, GMCR, NTLS, ORCL, USD, VPRT Staying Below 30 DMA BIDU, HDB, SYNA, CBST, CHL, ESI, GES, GXDX, ICE, JCOM, JW.A, PCLN, PETS, TDG, WCG, WRC, GR. JOYG, MCD, TRLG, AMZN, MYGN, PWR, X, BAP, GPRO, JEC, NIHD, SNHY, UYG, BLUD, RBN, AFAM, ATW, BIIB, FLS, VAR, PCP, SWN, MUR, RIMM, SPWRA, CAM, CLB, MOS, EBAY, FAS, MON, RCI, SNA, URE, DLTR, EZPW, WAB, FSLR, WMT, DLB, JOSB, HANS, GME Intermediate Term Market Trend: Neutral Short Term Market Trend: Down