SPX Another Day in the Grinder...

DJIA + 1.21 +0.01% SP500 - 2.73 -0.25% COMPQ - 4.74 -0.22% Russell 2000 + 0.77 +0.13% Exchange NYSE NASD Advancing 1,661 1,381 Declining 1,368 1,329 Oil $73.93 -1.54 Gold $1,163.40 -5.40 SOX 336.72 +1.51 VIX 22.10 +0.85 The VIX moved up and did confirm the move down in the SPX on Monday. The SOX moved up and did not confirm the move down in the COMPQ. Strongest Sectors: XLU +0.88%...XLY +0.31%...XLB +0.12% Weakest Sectors: XLF -1.64%...XLI -0.35%...XLE -0.23% Three of nine sectors moved higher on Monday. Utilities, Consumer Discretionary, Materials, Consumer Staples, Healthcare, Technology and Energy were stronger than the SPX -0.25%. Sector Watch Up Trending: XLK, XLB, XLY, XLV, XLP, XLE Horizontal Breakout: XLF, XLI, XLU Sideways: Down Trending: Key Resistance Levels: 1,113 = November High 1,119 = December High 1,025 - 1,133 = 1,075 BO chart target - Sep 08 Low Key Support Levels 1,101 = October High 1,087 = Nov 10 Channel low 1,082 = Nov 9 S1 level 1,075 = 875 Breakout Chart Target 1,061 = Sep 16 S1 level 1,056 = Sep 25 R1 level 1,044 = October Horizontal Old Resistance Guidance: The SPX is still in a short term neutral trend near resistance. After spending most of the day in slightly positive territory the SPX pulled back about 8 points with about two hours to go in the trading day before closing at 1,103.25. The technical evidence continues to favor a continued move to the upside in the intermediate term. Advancers led decliners on the NYSE and were about even on the COMPQ. Financials, XLF continued moving sideways. We continue to watch for strength in this sector as an important factor in the SPX breaking through its own horizontal resistance. Gold and oil prices slipped further. Semiconductors were relatively stronger as were Ag-related stocks POT, MOS and AGU. Airline stocks UAUA, DAL and LCC rose moderately. NVDA +12.83% had a big day on news the INTC would halt development of a video chip and AMD +8.40% also rose. Continue to focus on and trade setups on the charts of the stocks you watch and follow your rules. AAPL -4.37 QCOM -0.27 GOOG +1.24 BIDU -4.32 NDX 100 stocks stronger than the NDX include: NVDA, CMCSA, FSLR, RIMM, CEPH, LBTYA, SRCL, NIHD, NWSA, YHOO, AKAM, STLD, CHKP, NTAP, KLAC, DISH, BRCM, MXIM, LLTC, WCRX, LOGI, ROST, PAYX, ADP, FLES, COST, BIIB, ESRX, GOOG, CSCO, CTAS and LRCX. Stocks to Watch on Tuesday Leading Stocks Holding Above 30 DMA K, JW.A, AMZN, SLGN, MCD, DLB, RCI, ESRX, MHS, WCG, ALGT, BDX, VAR, ACN, CTSH, HLF, AFAM, AMX, GR, SNHY, SYNA, WMT, GILD, HDB, ORCL, WAB, BIDU, EZPW, PCLN, GXDX, PCP, MON, MOS, TDG, X, BIIB, NTLS, AMX, PETS, NIHD, VPRT, PSYS, URE, BLUD, DECK, GES, GPRO, USD, WRC, BAP, BKC, CBST, SNA, FSLR, BYI, CPLA, WAB Moving Above 30 DMA = 2 MYGN, SPWRA Moving Below 30 DMA = 5 CLB, JCOM, EBAY, FAS, UYG Staying Below 30 DMA NFLX, FAZ, DLTR, ICE, JOSB, JOYG, PWRD, AAPL, GME, CHL, FLS, DV, RBN, SLGN, ATW, CAM, PPD, JEC, GMCR, MUR, RIMM, SWN, HANS, STRA, TRLG, AMED, APEI, PWR, ESI, FUQI Intermediate Term Market Trend: Up Short Term Market Trend: Neutral