Gold, Semiconductor, Material Stocks Rise...ANF and RUT Move Higher...

The SPX formed a doji on Tuesday closing down -0.24 at 1,332.63.   Interest rates TNX +0.56 rose on Tuesday and bond ETF TLT fell 37 cents.  Financial stocks XLF closed down 1 cent which failed to produce any upward momentum for the SPX.  The SPX continues to hover near resistance.

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SPX doji, close above 30 DMA -0.02%

INDU doji, close above 30 DMA, -0.05%

COMPQ shooting star, close above 30 DMA, +0.07%

RUT half white candle, new high close, above horizontal resistance, +0.47%

Breadth improved slightly on Tuesday as advancers led decliners 1.24 to 1 on the NYSE and weakened slightly on the NASDAQ as advancers led decliners 1.04 to 1 …

Exchange       NYSE          NASDAQ

Advancers      1,655             1,337

Decliners        1,331              1,278

Index              Chg.    Close    Direction      Confirmation

VIX                 -0.25       17.25     Down            No – SPX

SOX              +9.73     438.78     Up                 Yes – COMPQ

Leading stocks > +2% on Tuesday included ANF, CIEN, CDE, IAG, SLW, ESI, AKS, CSTR, LVS, SMH, SNDK, HLF, NDAQ

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Losing stocks < -2.0% included ARUN, UAL, IL, SINA

Positives –RUT, SOX, AMZN, breadth remained positive

Negatives – AAPL, BIDU, GOOG, NFLX, PCLN, QCOM

The bounce in semiconductors that I spoke about last night in my AT webcast and here in Chart Signals did occur on Tuesday.  Led by the buyout deal by TXN of NSM +9.99 for $25 a share, the SOX +2.27%, XSD +2.61% and SMH +2.37% all rose.  TER +3.37%, STM +2.66%, TSM +2.30% and SNDK +2.23% led the SOX higher.

The Euro rose 1 pip to 1.4222 at 5 pm.

Six of nine sectors moved higher on Tuesday with Materials XLB +1.19% and Consumer Discretionary XLY +0.33% the strongest sectors. 

X +1.15% formed a bullish harami and ANF +10.82% soared after its horizontal breakout following news that it plans to open stores in China.

Gold and silver stocks including GDX, GG, ABX, CDE, AEM, NEM, GLS, IAG and SLW had big move.

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Monday night virtual trade updates:

ARUN did not fill…entry and stop should be adjusted for Tuesday’s move lower

DECK filled at 7:31:00 MDT 30 May 90 calls at 5.10, closed 5.90, +15.6%, +$2,400

F filled at 8:18:30 MDT100May 15 calls at 1.07, closed at 1.21, +13%, +$1,400

SPX

Resistance: 1,330, 1,344

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 -2.30 – white spinning top

AMZN +2.35 – large white candle

BIDU -1.46 – dark cloud cover, new high close

GOOG -18.59 – large black candle

NFLX -0.49 – doji -23.6%

QCOM -0.53 – black spinning top

NDX 100 stocks stronger than the NDX include CTRP, LINTA, SNDK, MRVL, ERTS, URBN, LLTC, TEVA, ROST, ISRG, EBAY, YHOO, SIAL, EXPE and AMZN.

Stocks weaker than the NDX include GOOG, MICC, GILD, FSLR, ILMN, FISV, AKAM, VRTX, MU, JOYG, CELG, NWSA, INTU, QGEN and BIDU.

Stocks to Watch on Wednesday

Holding Above 30 DMA
HUM, ARUN, GMCR, CDE, HLF, HAS, SINA, TLT, SWN, UCO, CAT, CSTR, UNG, WDC, IAG, SLW, SWK, ATW, DHR, FCX, NTES, VECO, VLO, MCP, A, CLF, DE, PCX, WLT, ACN,  ATI, F, NETL, SOHU, TSL, UNP, CMG, DOW, SLB, AKS, ANF, DECK, DLR, FWLT, JEC, URE, CF, CRM, LVS, POT, TIF, V, AGU, ESI, CHL, FAS, MOS, NDAQ, NYX, ZION, IPI, SNDK

Moving Above 30 DMA = 2

CIEN, SMH

Moving Below 30 DMA = 1

STI

Staying Below 30 DMA

X, VMW, FAZ, AMD, ICE, IL, CAM, RVBD, JNPR, BAC, GLW, JDSU, TBT, CRUS, SWKS, GES, MHS, LDK, GS, NVDA, UAL

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

Added: ANF, CDE, IAG