SPX Horizontal Breakout Chart Target of 1,332 as Euro and Financials Rise...

Seven of nine sectors moved higher on Tuesday, the.  XLE, XLB and XLF were the strongest sectors. 

Money Flow

Euro      +94 pips     1.3052

TNX        +0.89          19.60

TLT         -1.82         119.43

XLF        +0.34          13.34

SPX      +19.46      1,277.06

VIX          -0.43          22.97

NDX +1.94%

COMPQ +1.67%

SPX +1.55%

RUT +1.53%

INDU +1.47%

Money Flow followed the Euro higher as bonds fell and TNX, XLF and SPX moved higher.  The VIX fell confirming the rise in the SPX.

The rally was broad as the SPX bounced off of diagonal support and broke through horizontal resistance at 1,267.  The mid-October breakout chart target of 1,363 still appears probable.  Tuesday’s breakout creates a new chart target of 1,332. 

  

(click image to enlarge)

SPY moved up $1.99 on volume of 193.6 million shares almost double of Friday’s light holiday week volume.

Breadth strengthened as advancers led decliners 3.38 to 1 on the NYSE and 2.77 to 1 on the NASDAQ.

Exchange        NYSE        NASDAQ

Advancers       2,351         1,921

Decliners            695             693

AAPL, AMZN, BIDU, GOOG, PCLN and QCOM moved higher

Leading stocks > +2% on Tuesday UCO, ANR, PCX, C, ENTR, PCX, TSL, SINA, FAS, X, CF, POT, SLW, CLF, GS, WLT, ZAGG, RVBD, TPX, ATI, CDE, MCP, STI, RCL, LDK, A, BAC, MOS, LVS, SOHU, SWK, JDSU, CROX, AKS, CAT, SWKS, DOW, F, VECO, JNPR, DHR, ZION, CIEN, TBT, SLV, DE, NGLS, SWN

Losing stocks < -2.0% included FAZ, GRPN, ESI, SNDK, ARUN

NDX 100 stocks stronger than the NDX included WCRX, MU, RIMM, TEVA, BIDU, GOLD, FSLR, ESRX, CTRP and LIFE.

Stocks weaker than the NDX include PNRA, SNDK, VRTX, MCHP, ORLY, KLAC, SBUX, APOL, ALXN and SHLD.

Fifteen NDX stocks BIDU, BIIB, COST, CSCO, CTRP, EXPD, FLEX, GOLD, NFLX, PCAR, CLN, SIAL, SPLS and VMED closed above their 30 DMA and three ORLY, PNRA and SNDK closed below making 71 NDX stocks above their 30 DMA. 

Stocks to Watch on Wednesday

Holding Above 30 DMA = 38

V, WDC, LDK, DLR, CSTR, IL, URE, GES, CMG, DE, DOW, ENTR, FAS, HUM, SWK, UNP, F, NKE, UCO, ATI, CIEN, CRUS, SMH, SWKS, ZION, JDSU, NGLS, TLT, AKS, ANF, BAC, CF, CHL, DHR, STI, HAL, SOHU, X

Moving Above 30 DMA = 18

A, ANR, C, CAT, CLF, CROX, FCX, GS, IBM, JNPR, LVS, MOS, NDAQ, PCX, POT, RCL, TPX, TSL

Moving Below 30 DMA = 11

COH, ESI, ICE, SNDK

Staying Below 30 DMA

GRPN, TBT, FFIV, NTES, FAZ, CDE, NVDA, SLB, TSLA, INFA, CRM, DECK, HLF, RVBD, VECO, KKD, SLW, GLW, TIF, VMW, ARUN, CREE, SWN, WLT, MCP, SINA, ZAGG, LNKD

Thirteen Week Intermediate Term Market Trend: Up

Short Term Market Trend: Up