Semis Lead NDX Lower as MCHP, MXIM, LRCX and LLTC Fall...

Downward momentum slowed on Tuesday, breadth strengthened and financial stocks formed a doji as interest rates held at recent support. The SPX rallied towards Monday's R1 before sellers took control and the SPX finished down -5.85 to close at 1,313.64.

Initial reactions to earnings from MCHP, NVLS an INFY have been negative and neutral on AA.

SPX black candle, above 30 DMA -0.44%
INDU black candle, above 30 DMA -0.47%
COMPQ black candle, above 30 DMA -0.74%
RUT inverted hammer, above 30 DMA -0.45%

Breadth strengthened as decliners led advancers 1.37 to 1 on the NYSE and 1.42 to 1 on the NASDAQ …

Exchange      NYSE      NASDAQ
Advancers      1,265        1,062
Decliners         1,736        1,515

Leading stocks > +2% on Tuesday included SLW, IAG, UCO, CSTR, ESI, CDE

Losing stocks < -2.0% included TSL, SWKS, CY, ENTR, ARUN, GMCR, LDK, KKD, CRUS, SMH, UAL, DOW, JDSU, FWLT, INFA, NETL, DE, FFIV, GLW, A

Interest rates TNX fell -0.09, bond ETF TLT gained 33 cents and Financials XLF fell 6 cents, its largest loss since June 1. The Euro moved down 56 pips to close at 1.3972 at 5 pm on Tuesday.

SPX
Resistance: 1,321, 1,330, 1,344
Support: 1,310, 1300, 1,288

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 -0.25 – doji, bull flag setup, above 30 DMA
AMZN -1.32 –black candle, bull flag setup, above 30 DMA
BIDU -3.46 – black candle, bull flag setup, above 30 DMA
GOOG +6.73 – white candle confirms inverted hammer, above 30 DMA
NFLX +0.53 – doji, bull flag setup, above 30 DMA
PCLN -7.98 – black candle, bull flag setup, above 30 DMA
QCOM -1.72 – large black candle, flag setup, above 30 DMA

NDX 100 stocks stronger than the NDX include APOL, SHLD, VRTX, RIMM, URBN, GOOG, CSCO,SPLS, WCRX and GILD.

Stocks weaker than the NDX include MCHP, MXIM, INFY, GMCR, LRCX, ADSK, LLTC, FAST, XLNX and CTXS.

Stocks to Watch on Wednesday
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, WDC, ZION, SWN, URE, V, DHR, SINA, SWK, SOHU, WTW, ANF, CDE, SLW, TLT
Moving Above 30 DMA = 1
CF, HUM, IAG
Moving Below 30 DMA = 6
CY, DE, MOS, SMH, SWKS, UNP
Staying Below 30 DMA
A, DOW, F, FAS, GES, HAS, JNPR, MCP, NDAQ, SNDK, TBT, WLT, X, ANR, ATI, GS, STI, UCO, LDK, BAC, TSL, FAZ, TLT, UAL, UNG, VECO, CREE, NVDA, FWLT, MHS, JDSU, GLW, CIEN, IL

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