European Debt Concerns Send Euro Lower, Dollar Higher...SPX Moves Down as XLF Falls...

Concerns over Italy’s rising interest rates sent the Euro falling and the dollar rising.  U.S. interest rates fell, bonds rose and Financial stocks fell making XLF the weakest sector of the day. In step with Financial stocks the SPX was down -24.31 to close at 1,319.49.22.

AAPL, AMZN, BIDU, GOOG, NFLX, PCLN and QCOM all moved lower on Monday.


SPX large black candle confirms bearish harami, above 30 DMA -1.81%
INDU large black candle confirms bearish harami, above 30 DMA -1.20%
COMPQ large black candle, above 30 DMA -2.00%
RUT large black candle confirms bearish harami, above 30 DMA -2.23

Breadth weakened substantially as decliners led advancers 6.07 to 1 on the NYSE and 4.77 to 1 on the NASDAQ …

Exchange      NYSE      NASDAQ
Advancers        427             456
Decliners       2,594          2,178

Leading stocks > +2% on Monday included FAZ, UNG, TLT, CRUS

Losing stocks < -2.0% included FAS, SINA, GES, MOS, NDAQ, AKS, WLT, FWLT, MCP, ANR, LVS, SOHU, VECO, PCX, CROX, ARUN, F, IL, CDE, CY, TSL, URE, DOW, NTES, SLW, NVDA, HAS, ENTR, GLW, WDC, X, ESI, FCX, BAC, JDSU, STI, RVBD, FFIV, CAM, TPX, ACN, DE, AGU, TBT, SNDK, ZION, CIEN, CF, SWN, DECK, SWK, UCO, VMW, CRM, INFA, CSTR, CLF, POT, ATW, ANF, A, HLF, ICE, UAL, SLB, TIF, WTW, V, CAT, NETL

Interest rates TNX fell -0.99, bond ETF TLT gained $1.43 and Financials XLF fell 42 cents, its largest loss since June 1. The Euro moved down 233 pips to close at 1.4028 at 5 pm on Monday.

SPX
Resistance: 1,330, 1,344, 1,359
Support: 1,321, 1,310, 1300

The short term 3 day trend is down.
The six-month trend is neutral.
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 -5.71 – potential shooting star, near 6 month resistance, above 30 DMA
AMZN -5.73 – large black candle, above 30 DMA
BIDU -5.38 – black candle, above 30 DMA
GOOG -4.71 – inverted hammer, above 30 DMA
NFLX -4.40 – large white candle, new high close, above 30 DMA
PCLN -15.60 – large black candle, above 30 DMA
QCOM -1.12 – black candle, flag setup, above 30 DMA

NDX 100 stocks stronger than the NDX include LRCX, WFM, ALXN, KLAC and CEPH.

Stocks weaker than the NDX include NWSA, CTXS, FSLR, VMED, BIDU, QGEN, YHOO, MRVL, NVDA and PCAR.

Stocks to Watch on Tuesday
Holding Above 30 DMA
TIF, KKD, CROX, GMCR, INFA, TPX, AGU, CMG, CRM, HLF, NETL, VMW, ATW, NGLS, CHL, CLF, ENTR, ESI, ACN, CSTR, ARUN, FFIV, ICE, POT, RVBD, AKS, CAM, CAT, COH, CRUS, DECK, DLR, FCX, LVS, NKE, NTES, PCX, SLB, UNP, WDC, ZION, DE, MOS, SWN, URE, V, DHR, SINA, SMH, SWK, CY, SOHU, WTW, ANF, CDE, SLW, SWKS
Moving Above 30 DMA = 1
TLT
Moving Below 30 DMA = 15
A, CF, DOW, F, FAS, GES, HAS, HUM, JNPR, MCP, NDAQ, SNDK, TBT, WLT, X
Staying Below 30 DMA
ANR, ATI, GS, STI, UCO, LDK, BAC, TSL, FAZ, TLT, UAL, UNG, IAG, VECO, CREE, NVDA, FWLT, MHS, JDSU, GLW, CIEN, IL

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