SP500 1,174.17 +8.36 +0.72%
COMPQ 2,415.24 +19.84 +0.83%
Russell 2000 690.30 +7.39 +1.08%
Exchange NYSE NASD
Advancing 2,204 1,804
Declining 823 878
Oil $81.91 +0.31 – May contract
Gold $1,103.70 +4.20 – April contract
SOX 372.47 +8.22
VIX 16.35 -0.52
Index Direction Confirmation
VIX Down Yes – SPX
SOX Up Yes – COMPQ
Strongest Sectors: XLB +1.30%…XLI +1.13%...XLK +0.96%
Weakest Sectors: XLE +0.39%...XLY +0.40%...XLU +0.40%
All nine sectors moved higher on Tuesday. Materials, Industrials, Technology, Financials and Consumer Staples were stronger than the SPX +0.72%.
Sector Watch
Up Trending: XLY, XLI, XLP
Horizontal Breakout: XLFSideways: XLE, XLU, XLB, XLK, XLV
Down Trending:
Key Resistance Levels
1,178 = Fib extension
Key Support Levels
1,155 = 1,119 BO chart target – Dec 23
1,145 = 1,133 BO chart target – Dec 31 Low
Our DE virtual trade from our Monday night webcast was filled at 7:32:52 am MDT as DE passed our 60.41 conditional price. The 40 April 60 calls filled at 1.61 and the 60 May 65 calls filled at 1.05. By the end of the day the April calls gained +70% and the May calls +60%. We'll keep you posted as these trades evolve.
Look at these Charts
(click image to enlarge)
The SPX closed at 1,174.17 forming a white candle breaking through the 1,169 horizontal resistance. The chart target is still 1,255 in approximately nine weeks after the 1,150 breakout on March 16.
The VIX closed at it lowest level since May 16, 2008 and did confirm the higher close on Tuesday.
The SPX, INDU, COMPQ, RUT, TRAN and SOX all moved higher. The SOX gained another +2.26% on Tuesday and broke out of its January resistance level. The four broad indexes and the TRAN and SOX have broken above January resistance levels.
The short term trend is up.
The four-month trend is up.
The twelve-month trend is up.
Continue to focus on and trade setups on the charts of the stocks you watch, trade with the trend and follow your rules.
Adjust your stops according to your rules for up and down trending trades.
AAPL +3.61
QCOM +0.24
GOOG -8.50
BIDU +15.16
NDX 100 stocks stronger than the NDX include FLEX,WCRX, KLAC, DELL, STX, LRCX, AMAT, JOYG, MRVL, GRMN, STLD, BIDU, FSLR, NVDA, RIMM, INTC, FWLT, NIHD, CMCSA, ORCL, LBTYA, AAPL, MXIM, FLIR, CSCO, SHLD, FAST, CTSH, INFY, HANS, ALTR, MCHP, MSFT and XLNX.
Stocks to Watch on Wednesday
Holding Above 30 DMA
CBST, DLB, NFLX, BA, UAUA, AGU, CAM, CREE, VPRT, WHR, WLT, BDX, CAT, GR, ICE, PCLN, PCP, SPG, SWK, UNP, USO, V, BAC, DE, DHR, ESI, URE, HANS, JEC, WMT, FAS, GES, GMCR, SNDK, TDG, USD, UYG, X, DECK, MELI, POT, FLS, HDB, HLF, MHS, MYGN, VAR, IPI, FCX, ATI, MOS, WAB, GS, DOW, AMD, AMX, WFC, ACN, CEDC, MA, PWRD, ZION, BKC, MCD, ALGT, GME, AMED, WCG, STT, K, CHL, CAM
Moving Above 30 DMA = 0
Moving Below 30 DMA = 0
Staying Below 30 DMA
ATW, SYNA, CGA, MOS, FUQI, HEAT, SWN, TSL, BYI, FAZ, UNG, MON
Intermediate Term Market Trend: Up
Short Term Market Trend: Up
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