SPX Closes Below the Low of the High Day as XLF and TNX Move Lower...

All nine sectors moved lower on Tuesday. XLU -1.12%, XLP -1.18% and XLK -1.58% were the strongest sectors.

On Tuesday the Euro was down 22 pips to 1.3906 at 5 pm EDT. TNX closed down -1.06 at 21.28. TLT was up 2.88. Financials XLF was down 40 cents.

The broad indices moved lower with the RUT -3.04%, COMPQ -2.26%, NDX -2.04%, SPX -2.00% and INDU -1.74%. The SPX moved down -25.14 to close at 1,229.05. The VIX moved up +2.96 to 32.22.

AAPL, AMZN, BIDU, GOOG PCLN and QCOM moved lower on Tuesday.

NFLX -41.479, -34.90% was down after earnings and lower guidance for next quarter. Market Maker Move forecast was 16.25.

The ES futures pulled back from its pre-market highs and the SPX opened slightly lower and continued to move lower throughout the day. The SPX pulled back to its horizontal breakout level, while closing below the low of the high day on Monday.  It made almost a 50% retracement measuring from its low last week to its high on Monday.  Monday’s high of 1,256 was just below its potential resistance area at 1,263.  The SPX chart indicates a price target of 1,363 in 8 to 10 weeks.

Breadth weakened as decliners led advancers 4.74 to 1 on the NYSE and 4.33 to 1 on the NASDAQ.

Exchange     NYSE        NASDAQ
Advancers       528               474
Decliners      2,504            2,053

Leading stocks > +2% on Tuesday FAZ, SLW, CDE, TLT, UCO

Losing stocks < -2.0% included AKS, GMCR, CIEN,X FAS, JDSU, TSL, ZION, ANR, ATI, LNKD, MCP, SOHU, LVS, CLF, VECO, LDK, TBT, UAL, DOW, FFIV, RCL, NDAQ, GES, KKD, STI, A, WLT, CROX, GLW, SWKS, SINA, ARUN, BAC, NVDA, V, INFA, CRUS, POT, GS, FWLT, PCX, FCX, WDC, ICE, CREE, URE, ENTR, SWK, ZAGG, TPX, SLB, DLR, TIF, CMG, MOS, SWN, HLF, CRM, C, SNDK, CAT, VMW

NDX 100 stocks stronger than the NDX included ILMN, WCRX, LINTA, CSCO, ALTR, MXIM, SLNX, KLAC and SHLD.

Stocks weaker than the NDX include NFLX, PCLN, FSLR, GOOG, AMZN, GMCR, AAPL, FFIV, WYNN and BIDU.

Seven NDX stocks AMZN, CERN, EBAY, ESRX, FLIR, QGEN and RIMM moved below their 30 DMA leaving 84 NDX stocks above the 30 DMA.

Stocks to Watch on Wednesday
Holding Above 30 DMA = 65
IBM, ARUN, DECK, FFIV, ICE, INFA, SNDK, CSTR, F, NKE, ANF, COH, ENTR, NVDA, UNP, CRM, DHR, DOW, SMH, SWK, TIF, TPX, V, VMW, C, JNPR, NGLS, RCL, ZAGG, CAT, DLR, HLF, LNKD, SWKS, SWN, NTES, WLT, RVBD, SLB, UCO, AKS, FAS, GLW, GS, ZION, A, BAC, CIEN, URE, ATI, CF, CMG, DE, ESI, FCX, FWLT, GES, HUM, ANR, HAL, IL, MOS, PCX, SINA, STI
Moving Above 30 DMA = 1
CDE
Moving Below 30 DMA = 11
CHL, CLF, JDSU, LVS, NDAQ, POT, SOHU, TBT, TSL, UAL, X
Staying Below 30 DMA
CRUS, CROX, CREE, WDC, TLT, FAZ, GMCR, SLW, KKD, MCP, VECO, LDK

Four Week Intermediate Term Market Trend: Up
Short Term Market Trend: Up