SPX Pulls Back at Resistance...Closes Down Slightly...

DJIA 10,211.07 -20.18-0.20%
SP500 1,086.84 -1.97 -0.18%
COMPQ 2,243.60 +0.36 +0.02%
Russell 2000 639.79 +3.27 +0.50%

Exchange NYSE NASD
Advancing 1,893 1,500
Declining 1,178 1,177

Oil $73.78 +1.91
Gold $1,223.30 -5.60
SOX 351.97 +2.44
VIX 28.58 -0.21

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

The SPX rose to 1,105.91 resistance where sellers took control and pushed the SPX back to 1,089 close and formed a shooting star pattern.  Price action stayed inside the sideways trading range. 

A potential intermediate term up trend would be signaled by an SPX break above 1,105 resistance.

Dave is teaching a two day Advanced Technicals workshop in Dallas to more than 200 traders on Monday and Tuesday.
Strong stocks on Monday include NFLX, SNDK, INFY and UNG.

The following up trending stocks pulled back from their intraday highs even if they closed higher for the day: HSY, DECK, CMG, ILMN, ALK, CAL, UAUA, LCC, AKAM, CRM, SWN, ICE, TIE, ABC, DTV, VMW, ORLY, AAP, AZO, CRUS, CLF, BIDU and AAPL. These stocks could be setting up for counter trend pull backs if the SPX pulls back.

Guidance:
Yellow alert for short term traders to exit short term bullish trades with a break below Monday's low.
The short term 3 day trend is up.
The six-month trend is neutral.
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 of the chart and follow your rules.

AAPL +0.77
QCOM -0.57
GOOG -5.31
BIDU +0.08
NDX 100 stocks stronger than the NDX include: JBHT, INFY, NIHD, SHLD, DISH, JOYG, BIIB, URBN, HSIC, EXPE, INTC, SBUX, ESRX, ORLY and STX.

Stocks weaker than the NDX: APOL, GRMN, ISRG, MRVL, NVDA, EBAY, NWSA, SYMC, QCOM, AKAM, ILMN, GOOG, VRTX, XLNX and MICC.

Stocks to Watch on Tuesday
Holding Above 30 DMA
TLT, FAZ, NFLX, SNDK, CMG, VMW, AZO, DECK, CRM, SWN, UAUA, UNG, MHS, CHL, LVS, AIV, AMX, ATI, CLF, HAS, HLF, MCD, SPG, UNP, LXK, NTRI

Moving Above 30 DMA = 3
GMCR, URE, WFMI
Moving Below 30 DMA = 3
CAM, DE, POT
Staying Below 30 DMA
CSTR, WHR, ESI, BYI, DHR, GR, WMT, ZION, STI, PNC, AMD, CAT, CREE, SWK, BA, JEC, GME, HANS, ACN, DOW, FAS, FLS, PCLN, PCP, TSL, USD, USO, ATW, BAC, GES, MA, V, BUCY, WLT, GS, FCX, X, AGU, IPI, MOS

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