SPX Moves to New High as XLF Rises and NDX Gains Strength...NFLX Drops 33...

Seven of nine sectors moved higher on Monday. XLB +2.40%, XLF +2.21% and XLI +1.87% were the strongest sectors.

On Monday the Euro was up 35 pips to 1.3928 at 5 pm EDT. TNX closed up +0.31 at 22.34. TLT was up 19 cents. Financials XLF was up 29 cents.

The broad indices moved higher with the RUT +3.31%, COMPQ +2.35%, NDX +2.08%, SPX +1.29% and INDU +0.89%. The SPX climbed +15.94 to close at 1,254.19. The VIX moved down -2.06 to 29.26.

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

NFLX -33.09, -27.84% in after hours following earnings and lower guidance for next quarter. Market Maker Move forecast was 16.25.

The SPX continued to rise following the horizontal breakout on Friday. Both the NDX and COMPQ, which each had a bull flag breakout on Friday, also broke above their short-term resistance to a new high on Monday. The SPX chart indicates a price target of 1,363 in 8 to 10 weeks. Potential resistance areas are at 1,263 and 1.313.

The twenty one bull flag entry signals on Friday continued higher on Monday: AKAM, SIRI, ADSK, NWSA, FLEX, INTU, GOOG, ADBE, CSCO, SBUX, MAT, JOYG, DTV, MXIM, BBBY, INFY, AMAT, LLTC, NTAP, INTC, LRCX

Flag Entries on Monday: AAPL, APOL, DELL, MSFT, NVDA

Flag patterns waiting for entry signal: MU, EBAY

Breadth weakened as advancers led decliners 5.06 to 1 on the NYSE and strengthened to 4.32 to 1 on the NASDAQ.

Exchange     NYSE      NASDAQ
Advancers    2,631          2,095
Decliners        519             485

Leading stocks > +2% on Monday SOHU, CROX, LDK, ENTR, TSL, PCX, ANR, SINA, GES, GMCR, CIEN, UCO, FCX, AKS, LVS, ARUN, RVBD, RCL, FAS, CDE, JNPR, JDSU, A, VECO, CRUS, CLF, X, ZION, ATI, NTES, STI, INFA, LNKD, HAL, URE, FFIV, CAT, IL, WDC, SLW, ANF, HUM, SWKS, ZAGG, KKD, FWLT, DLR, C, CREE, BAC, GLW, CF, NVDA, SLB, WLT, DECK, COH, DE, UAL, SMH, MCP, ESI, CSTR, DHR, CMG, TPX, CRM, DOW, SNDK, TIF, SWN, CHL, NDAQ, F

Losing stocks < -2.0% included FAZ

NDX 100 stocks stronger than the NDX included GMCR, BIDU, FSLR, CTRP, WYNN, JOYG, ERTS, VRTX, URBN and ILMN.

Stocks weaker than the NDX include COST, SHLD, VRXN and MSFT.

Eleven NDX stocks AAPL, BIDU, BMC, CERN, ESRX, EXPE, PCLN, QGEN and RIMM moved above their 30 DMA making 91 NDX stocks above the 30 DMA.

Stocks to Watch on Tuesday
Holding Above 30 DMA = 62
IBM, ARUN, DECK, FFIV, ICE, INFA, SNDK, CSTR, F, NDAQ, NKE, ANF, COH, ENTR, NVDA, UNP, CRM, DHR, DOW, SMH, SWK, TIF, TPX, UAL, V, VMW, C, JNPR, NGLS, RCL, ZAGG, CAT, DLR, HLF, LNKD, SWKS, SWN, NTES, WLT, RVBD, SLB, UCO, AKS, FAS, GLW, GS, TBT, ZION, A, BAC, CIEN, URE, ATI, CF, CMG, DE, ESI, FCX, FWLT, GES, HUM, POT
Moving Above 30 DMA = 14
ANR, CHL, CLF, HAL, IL, JDSU, LVS, MOS, PCX, SINA, SOHU, STI, TSL, X
Moving Below 30 DMA = 3
Staying Below 30 DMA
CRUS, LVS, CROX, CREE, WDC, TLT, FAZ, GMCR, SLW, KKD, CDE, MCP, BAC, VECO, LDK,

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