SPX Bounce Fails to Follow Through...Holds Above Support...

INDU           10,171.41     -39.21    -0.38%
SPX             1,067.36       -4.33    -0.40%
COMPQ        2,159.63     -20.13    -0.92%
RUT                602.67       -8.11    -1.33%


Leading stocks on Monday:  MOS, FAZ, WMT, GMCR, NYX, HANS, AGU, HLF, ESI, SWN, MCD, POT, SINA, FDX, CSTR, HSY, UPS, WHR, BYI, CAM, STI, DHR

Dave spent the evening discussing technical trading and vertical spreads with more than 100 traders in Sacramento.  Dave will be teaching a two day Technical Analysis workshop on Tuesday and Wednesday.

Review the charts on Friday's
Bounce Entries - RVBD, NFLX, CMG, HSY
Bounce Setups - AGU, BIDU, CAT, CLF, DECK, FDX, GMCR, MOS, NYX, PCP, UPS, WYNN, X  

VMW, FFIV, GES and CTXS closed just below their horizontal breakout level.  HANS closed above its breakout level.

CRM, NTES, INTU, MRVL and AKAM each had a one day pull back above horizontal resistance after Friday's breakout.  Watch for a new entry opportunity.

Moving Above 30 DMA = 3
CSTR, HSY, WMT
Moving Below 30 DMA = 12
A, BUCY, CAT, DE, GR, IPI, PCP, RMBS, SPG, TSL, UNP, X

Intermediate Term Market Trend: Neutral
Short Term Market Trend: Down