SPX Moves Lower Following Weak Euro...

All nine sectors moved lower on Monday. XLU -0.46%, XLP -1.49% and XLY -1.54% were the strongest sectors.

On Monday the Euro was down 295 pips to 1.3855 at 5 pm EDT.  TNX closed down -1.31 at 21.75.  TLT was up +4.42.  Financials XLF was down 55 cents.

The Euro started lower on Sunday and continued all day Monday and accelerated it fall during the last hour of trading.  The SPX followed in the same direction.

The broad indices closed below the low of the inside day on Friday with the NDX -1.72%, COMPQ -1.93%, INDU -2.26%, SPX -2.47% and RUT -2.62%.  The SPX moved down -31.79 to close at 1,253.30.  Notice that each index is above its 10 DMA.

(click image to enlarge)

The SPX, INDU and RUT closed below Thursday’s S1 which was the key short-term support level to watch today.  They also formed a non-idealized evening star pattern.  The SPX, INDU and RUT did close above Thursday’s open or S2 level. 

The VIX moved jumped +5.43 to 29.96.  The broad indexes began forming a new bull flag pattern. 

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

Breadth weakened as decliners led advancers 4.43 to 1 on the NYSE and 3.58 to 1 on the NASDAQ.

Exchange       NYSE        NASDAQ

Advancers          556              560

Decliners         2,464           2,007          

Leading stocks > +2% on Monday FAZ, HUM, TLT, CROX

Losing stocks < -2.0% included TSL, SOHU, FAS, ANR, A, AKS, X, GMCR, SINA, TBT, ATI, C, ESI, BAC, WLT, GLW, CLF, PCX, FCX, MOS, GS, MCP, POT, ARUN, NVDA, VECO, SNDK, JDSU, RVBD, DHR, SWN, CRUS, INFA, ZION, DOW, CF, GES, CIEN, HAL, IL, FWLT, LDK, STI, CREE, LNKD, CRM, CDE, SWK, SLW, KKD, ENTR, DE, FFIV, SLB, ZAGG, ANF, CSTR, F, NDAQ, CAT, URE, SMH, LVS, WDC, UNP, SWKS, VMW, RCL, DECK

NDX 100 stocks stronger than the NDX included DLTR, ADBE, BBBY, XLNX, SPLS, ROST, ORLY, AAPL, DTV and CSCO.

Stocks weaker than the NDX include GMCR, FSLR, QGEN, NIHD, YHOO, LIFE, SYMC, RIMM, NVDA and SNDK.

Five NDX stocks EBAY, FLIR, MU, QCOM and SYMC moved below their 30 DMA leaving 81 NDX stocks above the 30 DMA. 

Stocks to Watch on Tuesday

Holding Above 30 DMA = 75

IBM, ARUN, DECK, FFIV, ICE, INFA, SNDK, CSTR, F, NKE, ANF, COH, ENTR, NVDA, UNP, DHR, DOW, SMH, SWK, TIF, TPX, V, VMW, C, JNPR, NGLS, RCL, ZAGG, CAT, DLR,  HLF, LNKD, SWN, NTES, WLT, RVBD, SLB, UCO, AKS, FAS, GLW, GS, ZION, A, BAC, CIEN, URE, ATI, CF, CMG, DE, FCX, FWLT, GES, HUM, ANR, HAL, IL, MOS, PCX, STI, CDE, CLF, CRUS, MCP, SLW, SOHU, TSL, CRM, JDSU, KKD, LDK, LVS, NDAQ, X

Moving Above 30 DMA = 0

Moving Below 30 DMA = 7

CREE, ESI, POT, SINA, TBT, VECO, WDC

Staying Below 30 DMA

CHL, SWKS, UAL, CROX, TLT, FAZ, GMCR

Four Week Intermediate Term Market Trend: Up

Short Term Market Trend: Neutral