SPX Bounces at Support...

DJIA           11,092.05 +73.39 +0.67%
SP500          1,197.52   +5.39 +0.45%
COMPQ       2,480.11   -1.15  -0.05%
Russell 2000   711.40   -3.22  -0.45%

Exchange    NYSE   NASD
Advancing   1,332     1,028
Declining     1,692     1,677

Oil         $83.13 +0.18
Gold $1,135.80 -1.20
SOX    389.66   -4.09
VIX       17.34   -1.02

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

Eight of nine sectors moved higher on Monday.  Financials and Healthcare were stronger than SPX +0.45%.

Financials led a stock prices higher with a bounce at support.  Strong financials included: C, CME, TRV, BK, ICE, NTRS, TROW, GS, KEY, STT, AXXP,WFC, MS, MET, PRU, IVZ and ALL.

Dave is teaching an Advanced Technials workshop in Denver on Tuesday and Wednesday.

NDX 100 stocks stronger than the NDX included: BIIB, ESRX, DTV, PCAR, GRMN, CMCSA, YHOO, MSFT, PPDI, FAST, ADP, ORCL, VRSN, SIAL, PAYX, LIFE, DELL, MICC, APOL, RYAAY, SYMC, ERTS, ORLY, AMGN, WCRX, COST, BBBY, ISRG, CHRW, FWLT, SRCL, FISV, INTC, CSCO,CTAS and JBHT.

Guidance:
The SPX formed a hammer and bullish harami on Monday.  Look for a support bounce continuation and a potential break of 1,200 resistance.

Continue to trade with the trend. Be mentally flexible and be willing to trade when your entry and exit signals appear.

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

The VIX fell -1.02 and did confirm the lower close on Monday.

The short term trend is up.
The four-month trend is up.
The twelve-month trend is neutral.

Continue to focus on and trade setups on the charts of the stocks you watch trade with the trend and follow your rules.

Continue to adjust stops according to your rules.

Stocks to Watch on Tuesday

Holding Above 30 DMA
CBST, DLB, NFLX, UAUA, CREE, WHR, BUCY, UNP, CAT, V, ESI, DE, UNP, V, BAC, DHR, URE, JEC, TDG, FAS, UYG, USD, SNDK, MELI, FLS, HDB, VAR, DOW, AMD, AMX, WFC, CEDC, MA, ZION, BKC, MCD, GME, TSL, BYI, CAM, SYNA, ATW, STT, CHL, SWK, ACN, WAB, ALGT, AMED, ESI, K
Moving Above 30 DMA = 1
WCG
Moving Below 30 DMA = 8
GES, HLF, PCLN, PCP, GR, USO, WLT, CLF
Staying Below 30 DMA
DECK, GMCR, ICE, SWN, GS, BA, FCX, SPG, ATI, X, BDX, WMT, HANS, MHS, PWRD, AGU, MYGN, IPI, POT, MOS, HEAT, VPRT, CGA, FUQI, FAZ, UNG, MON

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