SPX Rolls Over, Barely, Confirms Friday's Shooting Star...

Dave is traveling this evening to teach an AT Workshop in Dallas...

The SPX formed a small bearish engulfing pattern, confirming Friday’s shooting star and closing near its 30 DMA down -3.61 at 1,310.19. The COMPQ also confirmed Friday’s shooting star with a bearish engulfing pattern.

SPX small bearish engulfing, close at 30 DMA, -0.27%
INDU shooting star, close above 30 DMA, -0.19%
COMPQ bearish engulfing, close below 30 DMA, -0.45%
RUT black spinning top, inside day, close above 30 DMA, -0.25%

Breadth weakened and turned negative on Monday as decliners led advancers 1.46 to 1 on the NYSE and 1.38 to 1 on the NASDAQ …

Exchange     NYSE     NASDAQ
Advancers     1,219      1,104
Decliners       1,781      1,520

Index     Chg.     Close     Direction Confirmation
VIX       +1.53      19.44          Up           Yes – SPX
SOX     +0.48    436.75          Up           No – COMPQ

Leading stocks > +2% on Monday included LDK, SLB, NVDA, ARUN, TSL, NETL, NYX, MHS, WLT


Losing stocks < -2.0% included IL, UCO, GES, CF, RVBD, VMW, SLW, CIEN, TIF, PCX, SWN, AMD, JDSU, JNPR

SPX
Resistance: 1,311, 1,321, 1,330
Support: 1,300, 1,288, 1,281

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.

NDX 100 stocks stronger than the NDX include NVDA, NFLX, FSLR, VRTX, ESRX, KLAC, VOD, LINTA, ILMN, SNDK, CTRP, HSIC, MRVL, EXPD and LRCX.

Stocks weaker than the NDX include EBAY, APOL, AKAM, ORLY, CMCSA, YHOO, NTAP, FFIV, DTV, PCAR, DELL, RIMM, WYNN, URBN and SHLD.

Stocks to Watch on Tuesday
Holding Above 30 DMA
HUM, ARUN, GMCR, HLF, HAS, SINA, TLT, FAZ, SWN, UCO, CAT, CSTR, UNG, WDC, SLW, SWK, ATW, DHR, FCX, NTES, VECO, VLO, MCP, A, CLF, DE, PCX, WLT, ACN, ATI, F, NETL, SOHU, TSL, UNP, CMG, DOW
Moving Above 30 DMA = 1
SLB
Moving Below 30 DMA = 5
AMD, ESI, FWLT, ICE, IL
Staying Below 30 DMA
CAM, URE, DLR, NYX, RVBD, JNPR, BAC, TIF, CHL, DECK, NDAQ, V, FAS, GLW, JDSU, TBT, AGU, CRUS, SWKS, CIEN, GES, IPI, MHS, MOS, POT, SMH, CF, AKS, CRM, LDK, SNDK, STI, GS, JEC, LVS, NVDA, UAL, X, ZION, VMW

Eight Week Term Market Trend: Neutral
Short Term Market Trend: Up