DJIA + 29.55 +0.28%
SP500 + 7.70 +0.70%
COMPQ + 21.79 +0.99%
Russell 2000 + 9.42 +1.57%
Exchange NYSE NASD
Advancing 2,273 1,859
Declining 786 887
Oil $69.51 -0.36
Gold $1,123.40 +3.90 - Jan contract
SOX 340.28 +5.04
VIX 21.12 -0.47
The VIX moved down and did confirm the move up in the SPX on Monday. The SOX moved up and did confirm the move up in the COMPQ.
Strongest Sectors: XLB +1.45%...XLI +1.35%...XLE +1.03%
Weakest Sectors: XLP +0.37%...XLU +0.47%...XLF +0.56%
All nine sectors moved higher on Monday. Materials, Industrials, Energy, Healthcare, Technology and Consumer Discretionary were stronger than the SPX +0.70%.
Sector Watch
Up Trending: XLK, XLB, XLY, XLV, XLP, XLE
Horizontal Breakout: XLF, XLI, XLU
Sideways:
Down Trending:
Key Resistance Levels:
1,105 - 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, INDU and COMPQ each closed at a new 52-week high. Only the RUT did not make a new closing high. The RUT did have its highest close since Oct 22. Both lagging sectors Energy XLE and Financials XLF gave some lift to the market while Materials, Industrials and Healthcare led the market higher. Just the small gain in Financials today gave the SPX the strength to reach a new closing high. Watch XLF to see if it can follow through on its support bounce. A higher XLF will likely help the SPX break through resistance.
Continue to watch for a potential resistance breakout.
The next level of resistance on the SPX is the 1,125 -1,133 area. The SPX chart still has a 1,234 price target with by the end of January.
The breadth of the rally strengthened again on Monday as advancing issues increased on both the NYSE and NASD.
Tech stocks AAPL, GOOG, BIDU, PCLN, CREE and the SOX index were stronger on Monday while AMZN and RIMM moved lower.
Continue to focus on and trade setups on the charts of the stocks you watch and follow your rules.
AAPL +2.31
QCOM -0.23
GOOG +5.22
BIDU +6.41
NDX 100 stocks stronger than the NDX include: APOL, PPDI,ILMN, FSLR, LOGI, ADSK, EXPD, JOYG, ROST, MRVL, NVDA, WYNN, LIFE, NIHD, LRCX, ORCL, SHLD, MXIM, FWLT, URBN, CELG, INTU, ERTS, SBUX, AKAM, VRTX, INFY, IACI, CHRW, HANS, LLTC, BBBY, WCRX, HSIC, BIDU, MCHP, NTAP, JBHT and AMAT.
Check out these Support Bounce Charts:
(click image to enlarge)
Stocks to Watch on Tuesday
Leading Stocks
Holding Above 30 DMA
K, JW.A, AMZN, SLGN, DLB, ESRX, MHS, WCG, ALGT, BDX, VAR, ACN, TSL, AFAM, AMX, GR, SNHY, SYNA, CGA, WMT, GILD, HDB, MELI, PCLN, PCP, MON, MOS, TDG, X, IPI, BIIB, NTLS, AMX, PETS, NIHD, VPRT, URE, BLUD, DECK, GES, GPRO, USD, BAP, BKC, CBST, SNA, FSLR, CPLA, MYGN, RIMM, AMED, CLB, DV, ORCL, ICE, SLGN
Moving Above 30 DMA = 12
BIDU, ESI, GMCR, GXDX, HANS, HLF, PPD, SWN, WAB, JOYG, MCD, UYG
Moving Below 30 DMA = 1
DLTR
Staying Below 30 DMA
CTSH, RCI, FAZ, PSYS, BYI, JCOM, EBAY, FAS, NFLX, JOSB, PWRD, AAPL, GME, CHL, FLS, RBN, ATW, CAM, JEC, TRLG, FUQI
Intermediate Term Market Trend: Up
Short Term Market Trend: Neutral
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