SPX Forms Doji and COMPQ Rises...

DJIA 10,552.52 -13.68 -0.13%
SP500 1,138.50 -0.20 -0.02%
COMPQ 2,332.21 +5.86 +0.25%
Russell 2000 667.11 +1.09 +0.16%


Exchange NYSE NASD
Advancing 1,797 1,457
Declining 1,257 1,249


Oil $81.87 +0.37
Gold $1,123.60 -11.20
SOX 351.21 -0.32
VIX 17.79 +0.37

Index Direction Confirmation
VIX Up Yes – SPX
SOX Down No – COMPQ

Strongest Sectors: XLK +0.54%…XLY +0.25%...XLF +0.20%
Weakest Sectors: XLV -0.59%...XLI -0.47%...XLP -0.36%

Three of nine sectors moved higher on Monday. Technology, Consumer Discretionary, Financials, Materials and Utilities were stronger than the SPX -0.02%.

Sector Watch
Up Trending: XLY, XLI, XLP
Horizontal Breakout:
Sideways: XLF, XLE, XLU, XLB, XLK, XLV
Down Trending:

Key Resistance Levels:
1,145 = 1,133 BO chart target – Dec 31 Low
1,155 = 1,119 BO chart target – Dec 23

Key Support Level
1,125 - 1,133 = 1,075 BO chart target - Sep 08 Low
1,119 = December High
1,105 - 1,113 = November High
1,101 = October High

Guidance:
The SPX experienced consolidation forming a doji and closing at 1,138.50.

Monday is now the high day. The SPX has risen to the area of horizontal resistance and will either bounce down or breakout. A short term pull back will be indicated by a break of the low of the high day, but keep in mind Friday’s S1 at 1,131 and S2 at 1,125 as key short term support levels.

While we may see a consolidation of several days in the 1,130 to 1,150 area stay prepared for either a bounce down or a breakout.

The short term 3-week trend is up.
The four-month trend is sideways.
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 +0.13
QCOM +0.03
GOOG -1.73
BIDU +13.58
NDX 100 stocks stronger than the NDX include RIMM, CSCO, YHOO, BIDU, STLD, PCLN, CTAS, WYNN, NTAP, ROST, GRMN, IACI, BRCM, URBN, DELL, ERTS, AMZN, SHLD, DISH, AKAM, EBAY, CTXS, JBHT, BIIB, CMCSA, ATVI, JOYG, LRCX, AMGN, FWLT, HOLX, AMAT, INFY, PAYX and FISV.

Stocks to Watch on Tuesday
Holding Above 30 DMA
ALGT, CBST, DLB, NFLX, AMED, 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, FUQI, MELI, POT, FLS, HDB, HLF, MHS, MYGN, VAR, CGA, IPI, FCX, ATI, MOS, WAB, GS, DOW, AMD, AMX, WFC, ATW, HEAT, ACN, CEDC, MA, PWRD, ZION
Moving Above 30 DMA = 2
BKC, MCD
Moving Below 30 DMA = 3
K, SYNA, TSL
Staying Below 30 DMA
BYI, CHL, FAZ, UNG, SWN, MON, WCG, GME

Intermediate Term Market Trend: Neutral = 4 months, Up = 11 month
Short Term Market Trend: Up