SP500 1,165.81 +5.91 +0.51%
COMPQ 2,395.40 +20.99 +0.88%
Russell 2000 682.91 +9.02 +1.34%
Exchange NYSE NASD
Advancing 2,014 1,745
Declining 1,018 983
Oil $81.60 +1.10 – May contract
Gold $1,099.50 -8.10 – April contract
SOX 364.25 +8.58
VIX 16.87 -0.10
Index Direction Confirmation
VIX Down Yes – SPX
SOX Up Yes – COMPQ
Strongest Sectors: XLB +1.47%…XLY +1.05%...XLK +0.75%
Weakest Sectors: XLU -0.67%...XLE -0.26%...XLI +0.29%
Seven of nine sectors moved higher on Monday. Materials, Consumer Discretionary, Technology, Healthcare and Financials were stronger than the SPX +0.51%.
Sector Watch
Up Trending: XLY, XLI, XLP
Horizontal Breakout: XLF
Sideways: 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
1,125 - 1,133 = 1,075 BO chart target - Sep 08 Low
After futures led the market lower overnight, U.S. cash markets rallied on Monday’s open, regaining Friday’s losses in the broad indexes and many individual stocks. The short term trend is still neutral over the past four days.
Look at these Charts
(click image to enlarge)
ADBE is scheduled to report earnings on Tuesday after the close.
Guidance:
The SPX closed at 1,165.81 forming a white candle while reversing Friday’s downward momentum. The SPX’s current trading range is 1,153 to 1,170. Continue to watch for a break of support or resistance for the next short term move.
The VIX closed slightly lower and did confirm the higher close on Monday.
The SPX, INDU, COMPQ, RUT, TRAN and SOX all moved higher. The SOX gained 2.41% ahead of the broad indexes showing a possible sign of strength for technology stocks.
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 +2.50
QCOM +0.22
GOOG -2.50
BIDU +10.07
NDX 100 stocks stronger than the NDX include WYNN, LRCX, STX, SHLD, KLAC, EXPE, ALTR, FAST, LBTYA, MRVL, URBN, AMAT, PCAR, TEVA, JOYG, MCHP, NIHD, ORLY, BIDU, XLNX, DTV, MXIM, LLTC, PCLN, LINTA, NVDA, SPLS, CERN, NTAP, CHKP, ORCL, INFY, DELL, ESRX, CMCSA, ADSK, BRCM, CTSH, ATVI, FISV, FLEX, RIMM, ROST, CTAS, INTC, AAPL, BBBY, XRAY, SBUX, HSIC and PAYX.
Stocks to Watch on Tuesday
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
Moving Above 30 DMA = 1
CAM
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: Neutral
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