Selling Pressure Slows as SPX Forms Inverted Hammer...

SPX

I inserted a submit after a set time condition before the open on Monday night’s put trade on RVBD after trading up as much as a dollar in the pre-market. The price did fade after the open and then recovered which is typical for a gap open all before the time submit order. When RVBD was back in the positive I canceled the order. I would be willing to enter a new bearish trade if the current rally fails.


SPX inverted hammer, below 30 DMA -0.10%
INDU inverted hammer, below 30 DMA -0.16%
COMPQ spinning top, below 30 DMA -0.04%
RUT bullish harami, below 30 DMA +0.28%

Breadth strengthened as advancers led decliners 1.29 to 1 on the NYSE and 1.27 to 1 on the NASDAQ …

Exchange     NYSE     NASDAQ
Advancers    1,695        1,450
Decliners       1,308        1,139

Index     Chg.      Close      Direction      Confirmation
VIX        -0.42        18.07        Down            No – SPX
SOX     +2.30      415.34        Up                  No – COMPQ

Leading stocks > +2% on Tuesday included SWKS, LDK, FFIV, JNPR, NTES, TSL, JDSU, URE, ARUN, V, DLR

Losing stocks < -2.0% included IL, WTW, SOHU, GMCR

Bull Flag Entry on Tuesday: FFIV, V

Bull Flag Setups for Wednesday: TIF, COH, CY, VECO, GMCR, KKD, CMG, CF, IFNA, CRM, MA GES, NVDA, POT, AGU, CHL, HLF, HUM, CROX, WTW, OTEX, NFLX

SPX
Resistance: 1,300, 1,310, 1,321
Support: 1,288, 1,278, 1,267

The short term 3 day trend is down.
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 -6.00 – large black candle, below 30 DMA
AMZN +1.86 – inverted hammer bullish harami, below 30 DMA
BIDU -2.15 – spinning top, below 30 DMA
GOOG -2.03 – black candle, below 30 DMA
NFLX +1.10 – spinning top, above 30 DMA
PCLN +3.25 – spinning top, below 30 DMA
QCOM +0.03 – inverted hammer, below 30 DMA

NDX 100 stocks stronger than the NDX include FFIV, WCRX, DLTR, WFM, FISV, BBBY, SYMC, INFY, CELG, LRCX, KLAC, ALTR, URBN and XLNX.

Stocks weaker than the NDX include WYNN, CSCO, RIMM, GMCR, ERTS, ADSK, AAPL, BIDU, NWSA, AKAM, FLIR, ATVI, ORCL and MU.

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

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