SPX Bounces as TNX, Financials Rise...

The SPX rose +10.60 and closed at 1,172.87. Each of the broad indexes moved higher, closing above the high of the low day at the support of the five week sideways trend. The US Dollar weakened, interest rates rose with the TNX closing at 19.94 and financial stocks moved up and the XLF closing at 12.45.

Fourteen NDX stocks closed above their 30 DMA including BRCM, FFIV, JOYG, LRCX and STX with the total above the 30 DMA at 63. In our 30 DMA Watch List, ten stocks moved above the 30 DMA and there are now 45 stocks above their 30 DMA.

Intermediate Posture based on the MF Green Line turned bullish today as the green turned higher creating a higher low in the oscillator trend.

NDX large white candle, above30 DMA +1.31%
SPX white candle confirms hammer, below 30 DMA +0.91%
INDU spinning top confirms hammer, below 30 DMA +0.40%
COMPQ white candle confirms piercing line, closes above 30 DMA +1.49%
RUT large white candle confirms piercing line, below 30 DMA +1.76%

Breadth strengthened as advancers led decliners 3.40 to 1 on the NYSE and 3.17 to 1 on the NASDAQ …

Exchange     NYSE     NASDAQ
Advancers     2,337      1,932
Decliners          687          609

Index     Change     Close     Direction     Confirmation
VIX              -1.68       36.91       Down           Yes – SPX
SOX           +7.21     359.93       Up                Yes – COMPQ

Leading stocks > +2% on Tuesday CIEN, UAL, SINA, LNKD, HLF, ZAGG, SWKS, DECK, TPX, HUM, RVBD, A, CSTR, UNP, TIF, FFIV, COH, ENTR, NDAQ, LDK, ANF, RCL, TBT, X, SWN, UCO, AKS, ARUN, ATI, JDSU, FWLT, INFA, SNDK,CRM, NVDA, GES, CLF, DOW, STI, DE

Losing stocks < -2.0% included None

All nine sectors moved higher on Tuesday. Industrials XLI +1.87%, Materials XLB +1.65% and Technology XLK +1.18% were the strongest sectors.

Interest rates TNX closed +0.64 at 19.94, bond ETF TLT moved down -1.62 cents and Financials XLF moved up 8 cents. The Euro moved up 1 pip to close at 1.3679 at 5 pm on Tuesday.

SPX
Resistance: 1,177, 1,200, 1,225
Support: 1,160, 1,146, 1,134

The short term 3 day trend is neutral.
The six-month trend is down.
The twelve-month trend is neutral.

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 +4.68 – white candle confirms piercing line, above 30 DMA
AMZN +2.97 – rise to resistance in bull flag, above 30 DMA
BIDU +0.35 – doji, potential ascending triangle, above 30 DMA
GOOG -0.60 – hammer, below 30 DMA
NFLX -1.30 – piercing line, below 30 DMA
PCLN -5.84 – black candle, above 30 DMA
QCOM +0.93 – white candle ascending triangle setup, above 30 DMA

NDX 100 stocks stronger than the NDX include FSLR, VRTX, FAST, EXPD, ILMN, ORCL, ADSK, FFIV, KLAC and MYL.

Stocks weaker than the NDX include WCRX, PCLN, ESRX, URBN, WYNN, INTU, NFLX, LIFE, VMED and APOL.

Stocks to Watch on Wednesday
Holding Above 30 DMA = 35
TLT, CF, CHL, CDE, SLW, DE, GMCR, KKD, MOS, POT, V, JDSU, LVS, CSTR, SINA, DECK, ICE, NETL, NGLS, NVDA, TIF, JNPR, CIEN, CMG, COH, CREE, CRUS, ENTR, HUM, NDAQ, NKE, SMH, UAL, UCO, VMW
Moving Above 30 DMA = 10
A, ANF, CLF, CRM, DHR, DLR, FFIV, LNKD, SWKS, TPX
Moving Below 30 DMA = 2
FAZ, NTES
Staying Below 30 DMA
PCX, HLF, MCP, SOHU, URE, ZAGG, ARUN, FWLT, GLW, SWK, CROX, TSL, BAC, VECO, LDK, HAL, IBM, SNDK, ESI, FCX, GS, SLB, WLT, SWN, DOW, UNP, ANR, ATI, C, CAT, FAS, STI, WDC, AKS, TBT, X, ZION, RVBD, INFA, F, GES, IL

Five Week Intermediate Term Market Trend: Neutral
Short Term Market Trend: Up