SPX, DJIA and Nasdaq Form Triple Bottom...RUT Makes Higher Low...

DJIA           10,014.72  +4.99   +0.06%
SP500          1,049.33   +0.41   +0.04%
COMPQ        2,114.03   -5.94   -0.28%
Russell 2000    602.06  +0.34   +0.06%

Exchange     NYSE     NASD
Advancing    1,669      1,279
Declining      1,340      1,329

Oil                $72.49    -1.14
Gold        $1,251.90 +15.70
SOX             307.49    -6.09
VIX                26.05    -1.16

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

Leading stocks on Tuesday included WLT, TSL, CLF, VOD, MOS, UAUA, FCX, BUCY, AIV, SINA, GMCR, NFLX, DLR, URE, FAS, HSY, X, CMG, PNC, ICE, BAC, AKS, CAT, NTRI, ZION, AMX, HLF, TIE, UNP, SPG, CRM, PCLN, STI, HAS, DE, MCD, POT, RMVS, SWK, GME


The SPX, DJIA and COMPQ formed a triple bottom as the narrow trading range of the past five days continued for a sixth day.  The SPX, INDU and RUT closed slightly higher, while the COMPQ closed slightly lower. 

INDU - white spinning top
SPX - white spinning top
COMPQ - white spinning top
RUT - white spinning top

Support Bounce Setups for Wednesday - HANS, HLF, PCLN, RVBD, AGU, MCD, POT, CLF, FFIV, LVS, VMW, CMG, NTES, AKAM, NTAP, BIDU, MRVL, INTU, CAM, MOS, GMCR, NFLX, CRM, QCOM, CSTR, LXK

Guidance:
SPX
Resistance: 1,056, 1,071, 1,086
Support: 1,041, 1030, 1010


Look to enter bullish trades when a new bounce off support and a break above the high of the low day occurs.


Enter bearish setups with a new bounce down from resistance; bounce down from the 30 DMA or break of support.


The VIX fell -1.16 to 26.05 staying above the benchmark 25 level.

The short term 3 day trend is neutral.
The three-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 +0.60 – white spinning top confirms inverted hammer
QCOM +0.01 – spinning top does not confirm inverted hammer
GOOG -2.67 – doji
BIDU +1.19 – piercing line
NDX 100 stocks stronger than the NDX include: NWSA, BIDU, JOYG, MICC, FSLR, CELG, INTU, LBTYA, IACI, NIHD, DISH, TEVA, AMZN, SIAL and COST.


Stocks weaker than the NDX: BRCM, RIMM, STX, MRVL, NVDA, ESRX, DELL, FLEX, CERN, SBUX, MCHP, GILD, CSCO, APOL and INTC.


Stocks to Watch on Wednesday
Holding Above 30 DMA
TLT, HANS, HLF, PCLN, RVBD, AGU, MCD, POT, FFIV, LVS, NFLX, FAZ, VMW, CMG, NTES, CRM, TSL, CLF
Moving Above 30 DMA = 4
FCX, SINA, SPG, VOD
Moving Below 30 DMA = 0


Staying Below 30 DMA
BYI, CHL, HSY, WMT, GES, GMCR,CSTR, FDX, HAS, LXK, NDAQ, UPS, WLT, A, BUCY, CAT, DE, GR, IPI, PCP, RMBS, UNP, X, AKS, AMX, CAM, FLS, GME, GS, MA, NYX, SNDK, SWK, URE, BA, CRUS, ACN, AIV, ATI, CREE, DECK, DHR, DOW, FAS, STI, TIE, UAUA, UCO, USO, V, DLR, ICE, USD, PNC, SWN, ZION, UNG, VECO, WFMI, NETL, SKX, AMD, JEC, NTRI, ESI, BAC, MHS, WHR

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