SPX Flat as VIX Drops to Five Month Low...

The SPX made a higher high and higher low, formed a doji while closing up +0.17 while the VIX dropped to its lowest close since April 29...

(click image to enlarge)

Exchange     NYSE     NASDAQ
Advancers    1,631       1,244
Decliners      1,347       1,423

(click image to enlarge)

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

Leading stocks on Monday included TSL, SINA, LVS, CSTR, NFLX, AMD, CREE, AGU, LXK, CRUS, MOS, VECO, GME, CMG, POT, AKS, BA, WFMI, HSY, BUCY, USD, ATW, AMX, HLF, HAS, IPI, V, STI, WMT, HANS, WHR, VOD, BYI

Losing stocks included CRM, VMW, FFIV, RVBD, PCLN, RMBS, UCO, NTES, NTRI, DECK, USO, UAL, UNG, DLR, JEC, WLT, MCD, X, SKX, DOW, TIE, PCP, GR, SWN

Interest rates were flat, bonds were flat, the EURO pulled back, the SOX rose and the VIX closed down -1.75 at 18.96, its lowest close since April 20 actually down at the end of the day.

Six of nine sectors moved higher led by Energy +0.27%, Technology XLK +0.22%, and Consumer Staples +0.11%. Financials XLF were down 2 cents or -0.14%.  Advancers led decliners 1.21 to 1 on the NYSE.

The SPX traded in a 6.66 point trading range on Monday and the SPY traded just 102 million shares.

AA reported positive earnings last week and the stock moved higher. This indicates that big money will move prices higher on good earnings and guidance. The market paused today likely waiting for earnings and guidance from INTC, JPM and GE.

Tuesday Earnings: CSX, FAST, INTC
Wednesday Earnings: JPM
Thursday Earnings: AMD, GOOG,
Friday Earnings: GE, INFY

Breakout Setups for Tuesday: TSL, CSIQ, JASO, SINA, CSTR, VECO, CMG, CAT, AKS, X, PCP, URE, DHR, AIV, A, MHS, USD, NDAQ, CHL, FDX, GR, BA, WHR, GS, ZION, GME

Bull Flag Setups for Tuesday: BIDU, LXK, MA, V, CTSH, EXPE, ESRX, ILMN, INFY, NVDA, SHLD, NTAP, RVBD, NFLX, VOD, STI, RMBS, NTRI, BYI

SPX
Resistance: 1,170, 1,182
Support: 1,148, 1,130, 1,115

Enter bullish trades with a bounce off support and a break above the high of the low day or a break out of horizontal resistance.

Wait to take bearish entry signals for a bounce down from resistance or a close below of the low of the high day.

The VIX fell -1.75 to 18.96 its lowest level since April 29.

The short term 3 day trend is up.
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 +1.29 – potential shooting star following horizontal breakout at 294.73
QCOM -0.58 – black spinning top
GOOG +2.49 – potential shooting star following horizontal breakout
BIDU +1.12 – inverted hammer confirm Friday’s hammer

NDX 100 stocks stronger than the NDX include: WYNN, WCRX, LOGI, XLNX, LBTYA, BRCM, IACI, CHKP, ADSK, FSLR, FLEX, BIDU, DISH, LINTA and SYMC.

Stocks weaker than the NDX: CTXS, AKAM, PCLN, NIHD, AMZN, NTAP, FWLT, URBN, RIMM, QCOM, EBAY, ORLY, VRTX, INFY and BIIB.

Stocks to Watch on Tuesday
Holding Above 30 DMA
HLF, PCLN, AGU, MCD, LVS, NFLX, CMG, TSL, FCX, SINA, VOD, AIV, DE, DHR, DOW, PCP, SWK, UNP, URE, WLT, WMT, A, HAS, IPI, JEC, LXK, CAT, ICE, FAS, FLS, MHS, ATW, STI, ACN, AMX, GES, RMBS, ZION, NDAQ, UAL, USD, MA, NETL, ESI, GME, HSY, CHL, FDX, NTRI, AMD, TIE, V, ATI, BA, DECK, GR, UCO, USO, WHR, AKS, BYI, CLF, GS, SPG, HANS, MOS, SNDK, SWN, UPS, VECO, SKX, CSTR, X
Moving Above 30 DMA = 3
CREE, CRUS, POT
Moving Below 30 DMA = 1
RVBD
Staying Below 30 DMA
BAC, FFIV, TLT, NYX, PNC, DLR, VMW, WFMI, NTES, CRM, GMCR, TBT, FAZ, UNG

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