SPX Moves Lower on Weak Euro...Consolidating in Bullish Triangle...

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All nine sectors moved lower on Monday. XLI -0.62%, XLV -0.68% and XLY -0.73% were the strongest sectors.

The Euro was down 113 pips to 1.3632 at 5 pm EDT on Monday. TLT was up $1.86. Financials XLF was down 26 cents.

The broad indexes moved lower with the NDX -0.61 %, INDU -0.61%, COMPQ -0.80%, SPX -0.96% and RUT -1.58%. The SPX moved down -12.07 to close at 1,251.78. The SPX continues in a symmetrical triangle.

The SPX paused in its symmetrical triangle as the Euro opened weak and remained weak near support all day. We continue to look for the support bounce to continue this week at least to the 1,277 to 1,292 resistance area. The SPX price target is still 1,363 within the 10 week time window we mentioned when the SPX broke out of the 1,220 resistance area four weeks ago.

The VIX moved up +1.09 to 31.13.

Many individual stocks including AMZN, BIDU, GOOG, PCLN and QCOM moved higher on Monday. AAPL moved lower.

Breadth weakened as decliners led advancers 3.19 to 1 on the NYSE and 3.01 to 1 on the NASDAQ.

Exchange      NYSE       NASDAQ
Advancers       720             638
Decliners       2,301          1,921

Leading stocks > +2% on Monday FAZ, WLT, ZAGG, LVS, CIEN, INFA, CROX, CRM

Losing stocks < -2.0% included VECO, FAS, URE, TSL, STI, C, FWLT, TBT, CREE, KKD, BAC, ZION, LDK, CRUS, GS, DLR, CSTR, PCX, SLW, SOHU, SWN, ANR

NDX 100 stocks stronger than the NDX included ALXN, QCOM, BIDU, CTXS, GOOG, ATVI, AMZN, CELG, VOD and COST.

Stocks weaker than the NDX include CTRP, VRTX, GMCR, NIHD, PCAR, FSLR, INFY, SHLD, AKAM and MAT.

Ten NDX stocks including CHKP, CTRP, DTV, GILD, INFY, MU, and SHLD moved below their 30 DMA leaving 71 NDX stocks above the 30 DMA.

Stocks to Watch on Tuesday
Holding Above 30 DMA = 57
FFIV, SNDK, NKE, COH, UNP, DHR, DOW, SMH, SWK, TIF, TPX, VMW, JNPR, NGLS, RCL, CAT, DLR, SWN, RVBD, SLB, UCO, AKS, GLW, A, CIEN, URE, ATI, CF, CMG, DE, FCX, HUM, ANR, HAL, DE, CLF, SLW, CRM, JDSU, LDK, LVS, X, INFA, MOS, NDAQ, V, CREE, KKD, VECO, FAS, IBM, ICE, NVDA, CHL, DECK, HLF, WLT
Moving Above 30 DMA = 3
ARUN, GES, TLT
Moving Below 30 DMA = 9
C, CRUS, ENTR, FWLT, GS, PCX, SOHU, STI, ZION
Staying Below 30 DMA
MCP, TSL, BAC, CSTR, F, IL, NTES, POT, SINA, SWKS, WDC, ZAGG, LNKD, ANF, ESI, TBT, UAL, CROX, FAZ, GRPN

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