SPX Moves Higher to Resistance...

DJIA 10,895.86 +45.50 +0.42%
SP500 1,173.22 +6.63 +0.57%
COMPQ 2,404.13 +9.23 +0.39%
Russell 2000 682.25 +3.28 +0.48%

Exchange NYSE NASD
Advancing 2,103 1,554
Declining 955 1,118

Oil $82.17 +2.17
Gold $1,110.30 +5.20
SOX 366.37 +3.48
VIX 17.59 -0.18

Index Direction Confirmation
VIX Down Yes – SPX
SOX Up Yes – COMPQ

Strongest Sectors: XLE +1.94%…XLU +1.22%...XLB +1.07%
Weakest Sectors: XLF +0.13%...XLY +0.15%...XLK +0.30%

All nine sectors moved higher on Monday. Energy, Utilities, Materials, Healthcare and Industrials were stronger than the SPX +0.57%.

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

Key Resistance Levels
1,178 = Fib extension
1,216 = Fib extension
1,220 = Sep 25, 2008 resistance
Key Support Levels
1,155 = 1,119 BO chart target – Dec 23
1,145 = 1,133 BO chart target – Dec 31 Low

Guidance:

The SPX closed at 1,173.22 while making a higher high and higher low and closing less than one point below its recent closing high. The horizontal trading range is now 9 days long.

Short term traders are still on Yellow Alert for a potential exit from the short term up trend only if price breaks support.

Continue to trade with the trend. Be mentally flexible and watch for a potential counter trend pull back if the chart breaks short term support.

The chart target is still 1,255 in approximately nine weeks after the 1,150 breakout on March 16.

The VIX fell -0.18 and did confirm the higher close on Monday.

The short term trend is neutral.
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 +1.49
QCOM -0.07
GOOG -0.24
BIDU +7.13
NDX 100 stocks stronger than the NDX include EXPE, MICC, APOL, CEPH, STLD, FSLR, FWLT, MRVL, LRCX, JOYG, ISRG, LLTC, ESRX, CTAS, WCRX, PCLN, PDCO, NVDA, XLNX, BIDU, GILD, FLEX, SIAL, NIHD, SRCL, LIFE, EXPD, CHRW, XRAY, CMSCA, RIMM, AMGN, HOLX, AMAT, ADP, HISC, SHLD, KLAC, SYMC, ADBE, AAPL, NWSA, BRCM, CELG and LBTYA.

Stocks to Watch on Tuesday
Holding Above 30 DMA
CBST, DLB, NFLX, BA, UAUA, AGU, CAM, CREE, WHR, WLT, BDX, CAT, GR, ICE, PCLN, PCP, SPG, SWK, UNP, 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, ATI, WAB, GS, DOW, AMD, AMX, WFC, ACN, CEDC, MA, ZION, BKC, MCD, ALGT, GME, WCG, K, STT, FCX, TSL
Moving Above 30 DMA = 2
BYI, USO
Moving Below 30 DMA = 2
IPI, VPRT
Staying Below 30 DMA
AMED, MOS, PWRD, CHL, CAM, ATW, SYNA, CGA, FUQI, HEAT, SWN, FAZ, UNG, MON

Intermediate Term Market Trend: Up
Short Term Market Trend: Neutral