Horizontal Breakout SPX, NDX, INDU, COMPQ and RUT...New Chart Price Target...

The SPX rose +33.28 and closed at 1,210.08. The SPX broke out of its 1,200 horizontal resistance and has a chart price target of 1,298. Each of the broad indexes also broke out of horizontal resistance and have new chart targets also.

NDX leaders AMZN, PCLN and QCOM all gained more than the NDX, AAPL, BIDU, GOOG and NFLX gained less.

Twenty six NDX stocks closed above their 30 DMA today with the total above the 30 DMA at 44.  In our 30 DMA Watch List, 17 stocks closed above the 30 DMA with the total above at 29.

The potential double bottom is now a confirmed double bottom with Monday’s breakout. Posture turned Bullish on Friday as the MF Green Line moved out of the lower reversal zone. It is time to take One Green Arrow trades again.


NDX large white candle horizontal breakout, below 30 DMA +2.87%
SPX large white candle horizontal breakout, below 30 DMA +2.83%
INDU large white candle horizontal breakout, below 30 DMA +2.26%
COMPQ large white candle horizontal breakout, below 30 DMA +3.32%
RUT large white candle horizontal breakout, below 30 DMA +4.75%

Breadth strengthened as advancers led decliners 10.40 to 1 on the NYSE and 6.62 to 1 on the NASDAQ …

Exchange      NYSE      NASDAQ
Advancers     2,820        2,267
Decliners          271           342

Index     Change     Close     Direction     Confirmation
VIX            -3.31       32.28        Down           Yes – SPX
SOX       +12.66      358.44        Up                Yes – COMPQ

Leading stocks > +2% on Monday: CIEN, FAS, IL, LNKD, JDSU, ENTR, RCL, X, BAC, CRM, SNDK, ANF, GES, PCX, CREE, ZION, RVBD, URE, AKS, CLF, TPX, LDK, CRUS, DOW, STI, WLT, GLW, SOHU, ATI, A, VECO, FWLT, F, INFA, ANR, C, JNPR, UCO, NETL, MOS, SWKS, CF, LVS, DECK, VMW, CROX, ARUN, FFIV, TSL, ICE, GS, DE, UAL, TIF, SWK, CAAT, CSTR, HAL, SMH, SLB, DHR, NDAQ, POT, WDC, FCX, TBT, DLR, SWN, ESI, NVDA, NKE, HLF, NTES, HUM, CMG, NGLS, IBM, COH, KKD

Losing stocks < -2.0% included FAZ

All nine sectors moved higher on Monday. Financials XLF +4.15%, Industrials XLI +3.17% and Materials XLB +3.02% were the strongest sectors.

Interest rates TNX closed +0.83 at 22.71, bond ETF TLT fell -1.50 and Financials XLF was up 53 cents. The Euro moved up 12 pips to close at 1.4509 at 5 pm on Monday.

SPX
Resistance: 1,225, 1,235, 1,249
Support: 1,200, 1,177, 1,160

The short term 3 day trend is up.
The six-month trend is down.
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 +6.39– gap up white candle, above 30 DMA
AMZN +7.26 – gap up large white candle, close above 30 DMA
BIDU +3.60 – potential hanging man, below 30 DMA
GOOG +12.22 – gap up white candle, below 30 DMA
NFLX +3.14 – gap up black candle, below 30 DMA
PCLN +17.54 – large white candle, close above 30 DMA
QCOM +1.98 – large white candle, below 30 DMA

NDX 100 stocks stronger than the NDX include MU, SNDK, YHOO, SHLD, SIRI, JOYG, PCAR, INFY, FLEX and ADSK.

Stocks weaker than the NDX include VRTX.

Stocks to Watch on Tuesday
Holding Above 30 DMA = 12
TLT, CF, CHL, CDE, SLW, DE, GMCR, KKD, MOS, NKE, POT, V
Moving Above 30 DMA = 17
BAC, CROX, CRUS, DLR, HLF, HUM, ICE, JDSU, LVS, NDAQ, NTES, SOHU, TIF, TSL, UAL, VECO, ZAGG
Moving Below 30 DMA = 1
FAZ
Staying Below 30 DMA
LDK,CREE, NGLS, MCP, DECK, CMG, HAL, IBM, LNKD, SNDK, SWKS, TPX, ESI, ANF, COH, FCX, GS, SLB, WLT, SINA, SWN, DOW, UCO, UNP, VMW, CLF, ANR, ATI, CAT, CIEN, CRM, FAS, JNPR, SMH, STI, URE, WDC, AKS, C, CSTR, PCX, TBT, X, ZION, NETL, DHR, FFIV, ARUN, RVBD, ENTR, INFA, SWK, A, F, GES, NVDA, FWLT, GLW, IL

Intermediate Term Market Trend: Down
Short Term Market Trend: Up