Nasdaq Rises as SPX Moves Lower and Finds Support...

DJIA -41.34 -0.42% SPX -3.64 -0.34% Nasdaq +5.18 +0.24% RUT -1.91 -0.31% Exchange NYSE NASD Advancing 1,012 1,259 Declining 2,014 1,459 Oil 69.71 -2.33 Gold 1,003.90 -5.50 SOX 326.40 -0.08 VIX 24.06 +0.14 The VIX moved up and did confirm the move down in the SPX on Monday. The SOX moved down and did not confirm the move up in the Nasdaq. Strongest Sectors: XLV +0.97%...XLP -0.31%...XLY -0.40% Weakest Sectors: XLB -1.00%...XLF -0.92%...XLE -0.85% One of nine sectors moved higher on Monday. Healthcare and Consumer Staples were stronger than the SPX -0.34%. Financial stocks stronger than XLF -0.92%: RF, C, SCHW, TRV, PNC,MS, CME, KEY, MMC, CB, GS, AOC, IVZ, NTRS, WFC, ICE and JPM. Tech stocks stronger than XLK -0.43%: GLW, GOOG, CSCO, QCOM, SYMC, HPQ, MSFT, INTC, ORCL, ADBE, VZ, TXN and MA. Sector Watch Up Trending: XLK, XLB, XLY, XLV Horizontal Breakout: XLF Sideways: XLE, XLP, XLI, XLU Key Resistance Levels: 1,075 = 875 Breakout Chart Target 1,100 = September 2008 Old Support Key Support Levels 1,061 = Sep 16 S1 Level 1,044 = October Horizontal Old Resistance 1,025 = 950 Breakout Chart Target 1,017 = Aug 27 Support Low The SPX opened near Friday’s close fell to 1,057.46 and rallied to 1,064.66, above Wednesday’s S1 level at 1,061. The market sold off and found buyers at 1,057. The trend is still up…look for potential support bounce stocks in this intermediate term up trend. Chart Signals alerted you to the move in Airline stocks about an hour into Monday’s session…they continued to rise with a powerful support bounce on above average volume into to the close…Support bounce on Monday, possible breakout on Tuesday… (click image to enlarge) Educational stocks from our Stocks to Watch list also soared on above average volume on Monday... (click image to enlarge) Guidance: Stay with the trend you are trading. The SPX, Nasdaq, RUT and DJIA formed another spinning top on Monday in what is looking like a horizontal bull flag. Thursday is still the high day. Short term traders continue to be on Yellow Alert. Potential Breakout Setups: HANS, DE, JCG Breakout: RIMM, APOL, FSLR, MA, CAT, JOYG, FWLT, DOW, FAST, DD, X, WHR, SPG, BDK, FLS, BIDU, NWSA, V, FLIR, AKAM, AMZN Pulling Back: X, MRVL, AXP, AGU, BUCY, JEC, JCI, STT, WYNN, AMAT, ZION Potential C Patterns: C Pattern Breakout: ADSK Flag Setups and Bounces in Progress: TXN, WLT, XLNX, ADBE, HOLX, BAC, INTC Potential Down Trend Setups: AGCO AAPL -1.00 QCOM +0.41 GOOG +5.54 BIDU +0.27 NDX 100 stocks stronger than the NDX APOL, CELG, ATVI, CERN, NTAP, HANS, AMGN, AKAM, DISH, ADSK, CEPH, SHLD, NIHD, GILD, COST, BIIB, DTV, VRTX, HOLX, BBBY, BRCM and STX. Stocks to Watch on Tuesday Leading Stocks Holding Above 30 DMA PSYS, CTSH, AAPL, PETS, USD, JOSB, CAM, EBAY, PCLN, SNHY, TDG, CBST, WAB, CLB, PCP, RBN, VAR, CLB, BIIB, GES, HDB, ESRX, BDX, DLTR, NTLS, MYGN, ICE, NIHD, K, FLS, GXDX, WCG, BAP, FAS, FUQI, GME, JEC, PWR, PWRD, RCI, RIMM, WRC, UYG, BIDU, HDB, JW.A, ATW, EZPW, MUR, JOYG, X, URE, TRLG, EBAY, GPRO, HLF, MHS, PPD, PSYS, SWN, SYNA, ALGT, DECK, VPRT, AMZN, GMCR, ACN, SPWRA, SLGN, AFAM, FSLR, JCOM, NFLX, HANS, ICE, MCD, APEI, DLB, DV, AMED, BKC Moving Above 30 DMA = 2 CPLA, ESI, GILD, STRA Moving Below 30 DMA = 1 MOS Staying Below 30 DMA AMX, GR, BLUD, BYI, ORCL, WMT, MON, SNA, CHL, FAZ Intermediate Term Market Trend: DJIA = Neutral, Nasdaq, RUT, SPX = Up Short Term Market Trend: Neutral