SPX Modest Pull Back on Tuesday as NFLX Cools Off...

The SPX formed a potential hanging man spinning top down -4.31 at 1,328.01 on Tuesday.

SPX potential hanging man

INDU black spinning top, confirms potential bearish harami

COMPQ black spinning top, closes below the low of the high day

RUT black candle, closes below the low of the high day

Breadth weakened on Tuesday as decliners led advancers 1.60 to 1 on the NYSE …

Exchange       NYSE          NASDAQ

Advancers      1,142             1,019

Decliners        1,836              

Index               Chg.    Close    Direction      Confirmation

VIX                 +0.42      16.37     Up                 Yes – SPX

SOX               -5.02     461.38     Down            Yes – COMPQ

Leading stocks > +2% on Tuesday included SLW, X, FDX, AKS

Losing stocks < -2.0% included JDSU, GMCR, CF, A, MOS, NDAQ, IPI, VECO, PCX, NYX, POT, RVBD, CIEN, UCO, ICE, AGU, SNDK, CMG, FCX, SKX, NVDA, DECK, HLF, VMW, JEC, CREE, DLR

Positives –AAPL

Negatives – SPX, COMPQ, RUT, SOX, VIX, AMZN, GOOG, NFLX, TNX, Bonds, Euro, breadth weakened, sectors weakened

Interest rates closed near unchanged on Tuesday and bond ETF TLT rose 40 cents.  The Euro rose pips to 1.3551.

Two of nine sectors rose on Tuesday with Utilities XLU +0.31% and Consumer Discretionary XLY +0.13% leading all sectors.

SPX

Resistance: 1,330, 1,338

Support: 1,321, 1,311, 1,300

The short term 3 day trend is up.
The six-month trend is up.
The twelve-month trend is up.

Trade with the trend of the chart you are trading.

Bullish entry signal is a bounce off support and a break above the high of the low day or a break out of horizontal resistance.

Bearish entry signal is a break of short term support or a bounce down from the 30 DMA or other resistance.

AAPL +0.72 – white spinning top

AMZN -1.39 – potential shooting star

NFLX -6.76 – potential bearish harami

QCOM +0.47 – white candle, new high close

GOOG -4.00 – potential bearish harami

BIDU -0.77 – hanging man close below the low of the high day

NDX 100 stocks stronger than the NDX include NFLX, MXIM, CTXS, SNDK, MU, CELG, KLAC, BIIB, FLEX, JOYG, LINTA, EXPE, AKAM, ATVI, INFY and FFIV.

Stocks weaker than the NDX: MRVL, SNDK, NFLX, ILMN, NVDA, INTU, NTAP, CA, JOYG, FFIV and ORCL.

Stocks to Watch on Wednesday
Holding Above 30 DMA
SINA, NDAQ, SMH, FWLT,CLF, JDSU, CRUS, HOLX, DE, FAS, GLW, JEC,  ACN, NYX, ATI, URE, DISH, POT, BA, TSL, DLR, HANS, HUM, LDK, NTES, CAM,  SLB, TIE, MA, SPG, STI, CAT, DOW, MOS, NETL, SOHU, SWKS, ATW, SWK, TBT, ICE, JNPR, PCP, AGU, AMD, BAC, CF, DHR, IPI, LXK, PNC, SKX, V, ZION, ARUN, CIEN, CMG, HSY, DECK, GMCR, TIF, UAL, GES, RVBD, SLW, VECO, MCD, UNP, AKS, CRM, ESI, FDX, PCX, SNDK, X, LVS

Moving Above 30 DMA = 1

GS

Moving Below 30 DMA = 5

A, HAS, HLF, NVDA, VMW

Staying Below 30 DMA

MCP, MHS, SWN, AIV, WLT, UCO, UNG, WHR, F, LCC, TLT, CHL, FCX, CREE, GME, CSTR, FAZ

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