AAPL, SPX, INDU New High Close as NDX Moves Up and RUT Closes Lower...

Dave is in San Francisco teaching Technical Analysis and trading to a group of 250 plus traders.

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Four of nine sectors moved higher on Tuesday.  XLE, XLB and XLK were the strongest sectors.

AAPL, SPY and  INDU each made a bull market New High Close.  The SPX made a current New High Close, just 1.40 points below its bull market closing high on Apr 29, 2011.  The short-term trend has been rising sixty days.  Five similar short-tem trends extended 70 to 80+ days in 2009, 2010 and early 2011.  Stay with the trend until support is broken.

Money Flow

Euro    +81 pips   1.3224

TNX     +0.35         20.45

TLT      -1.29        115.29

XLF      -0.01         14.78

SPX     +0.98    1,362.21

VIX      +0.41         18.19

NDX +0.23%

INDU +0.12%

SPX +0.07%

COMPQ -0.11%

RUT -0.66%

Money Flow was mostly typical as the Euro moved higher and TNX and SPX followed.  Bonds TLT moved lower.  The VIX move higher and XLF was essentially flat.  The most recent SPX breakout has an intermediate term chart target of 1,428 within 12 weeks of the breakout, now just 70 points away.

The VIX moved up and did confirm the SPX on Tuesday.

Breadth weakened as advancers led decliners 1.00 to 1 on the NYSE and decliners led 1.69 to 1 on the NASDAQ.

Exchange        NYSE       NASDAQ

Advancers       1,508             955

Decliners         1,501          1,617

The Euro continued to rise from its short-term support area towards it early February short-term resistance area.

Our Bull Flag stocks were mixed again on Tuesday.  Thirteen moved higher and seventeen moved lower.  CSTR, MOS, STI, C, CERN, GRM, BAC and GMCR moved up more than 1%.  UAL, NFLX, RCL, GES, LNKD, VECO, JNPR, F and IL moved down more than 1%.

Bull Flag and Breakout Setups/Entries – JNPR, CREE, LNKD, GES, SWKS, BRCM, STI, FFIV, LVS, GLW, GS, GRMN, VECO, NFLX, C, CSTR, F, FAS, IL, MOS, RCL, UAL, FSLR, CERN, COST, CSCO, CTSH, WDC, GMCR, BAC…removed GILD due to gap down.

Leading stocks > +2% on Tuesday included TSL, UCO, CDE, CSTR, LDK, SLW, CF, HLF, ZAGG, MOS, CRUS, SWI,POT, FCX, TBT, HAL

Losing stocks < -2.0% included UAL, CIEN, SINA, ENTR, CROX, RCL, GES, SOHU, ARUN, URE, LNKD, JDSU, PCX, GRPN, RVBD

NDX 100 stocks stronger than the NDX included WYNN, AAPL, NTAP, GOLD, GOOG, TEVA, LIFE, CERN, GRMN and GMCR.

Stocks weaker than the NDX include CTRP, SHLD, GILD, BIDU, KLAC, VRTX, NFLX, LRCX, MYL and NUAN.

Four NDX stocks GOLD, GOOG, TEVA and WYNN closed above the 30 DMA and seven ALTR, AMGN, CTSH, KLAC, LRCX, MCHP and WCRX closed below leaving 76 NDX stocks above their 30 DMA.

Stocks to Watch on Wednesday

Holding Above 30 DMA = 67

WDC, DLR, URE, CMG, DOW, ENTR, FAS, SWK, F, NKE, CIEN, CRUS, SMH, SWKS, JDSU, NGLS, BAC, CF, CHL, STI, A, C, CAT, TPX, ESI, KKD, CREE, GS, CROX, HLF, LNKD, LVS, RCL, SLW, TSL, CSTR, VECO, COH, CRM, FFIV, SLB, INFA, NTES, NVDA, SWI, VMW, IBM, ZAGG, TSLA, LDK, GES, JNPR, V, ICE, ZION, NDAQ, TIF, RVBD, SWN, UCO, ANF, DECK, CDE, DHR, MOS, TBT, HAL

Moving Above 30 DMA = 1

HUM

Moving Below 30 DMA = 1

ARUN, SINA, UAL

Staying Below 30 DMA

DE, UNP, CLF, FCX, GLW, IL, X, GRPN, ANR, PCX, POT, MCP, SOHU, AKS, TLT, ATI, SNDK, FAZ

Four Month Intermediate Term Market Trend: Up

Short Term Market Trend: Up