AAPL, NDX Make New Highs, SPX Pause and Euro Forms Bull Flag...

.

Five of nine sectors moved higher on Tuesday.  XLV, XLP and XLK were the strongest sectors.

The NDX and COMPQ made another New High Close on Tuesday again from the leadership of AAPL.  The ES futures again pulled back just 15 points from 1,352 to 1,337 before buyers took over.  The SPX closed down -1.27 at 1,350.  The SPY moved down 17 cents on volume of 165.9 million shares.  The intermediate term trend is still up. 

It should be very clear, at least for now, buyers are stepping in every time the S&P pulls back 15 to 30 points and take the sellers out.  The modest VIX continues to indicate a stable trend. This rally is very much like the other five extended rallies from 60 to 80 days in length in 2009 through early 2011.  Follow your rules and allow the trend to make you money.

Money Flow

Euro   -51 pips      1.3133

TNX     -0.66           19.24

TLT     +0.62         117.76

XLF      -0.14           14.56

SPX     -1.27       1,350.50

VIX      +0.50          19.54

NDX +0.22%

INDU +0.03%

COMPQ +0.02%

SPX -0.09%

RUT -0.50%

Money Flow was typical as the Euro moved lower and the TNX, XLF and SPX followed.  The TLT bonds and the VIX moved higher.  The most recent SPX breakout has a chart target of 1,428 within 12 weeks of the breakout, now just 76 points away.

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

(click image to enlarge)

Breadth weakened as decliners led advancers 1.75 to 1 on the NYSE and 1.62 to 1 on the NASDAQ.

Exchange        NYSE        NASDAQ

Advancers       1,088             967

Decliners         1,904          1,570

FOSL +15.32, +14.66% gained big following better than expected EPS.

Continue to look for Breakout and Bull Flag Setups in your watch list.  The Euro is still in a bull flag pattern is setting up for potential trend continuation.

Take a look at the following Bull Flag Setups/Entries – SWKS, CREE, VECO, WDC, NFLX, BAC, C, CSTR, F, FAS, FFIV, GES, GLW, GS, IL, JNPR, LNKD, LVS, MOS, RCL, STI, UAL, FSLR, GMCR, GILD, GRMN, BRCM, CERN, COST, CSCO, CTSH, GILD

(click image to enlarge)

  

Leading stocks > +2% on Tuesday included TSLA, CIEN, ARUN, WDC, RVBD, FAZ, V, INFA

Losing stocks < -2.0% included LDK, TSL, WLT, X, FCX, LNKD, BAC, SINA, ANR, ENTR, CLF, STI, PCX, LNG, C, CF, FAS, ATI, RCL

NDX 100 stocks stronger than the NDX included FOSL, MU, ESRX, NUAN, NFLX, SHLD, GMCR, INFY, STX and SRCL.

Stocks weaker than the NDX include FSLR, YHOO, CTRP, RIMM, EXPE, PCAR, NWSA, ALXN, TEVA and LRCX.

Three NDX stock ATVI, ESRX and MCHP closed above the 30 DMA and three FSLR, GOOG and YHOO closed below leaving 81 NDX stocks above their 30 DMA.

Stocks to Watch on Wednesday

Holding Above 30 DMA = 69

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

Moving Above 30 DMA = 0

Moving Below 30 DMA = 7

CDE, CLF, GLW, IL, MOS, TBT, X

Staying Below 30 DMA

DECK, GRPN, ANR, PCX, POT, MCP, SOHU, AKS, TLT, ANF, HUM, ATI, SNDK, FAZ

Eighteen Week Intermediate Term Market Trend: Up

Short Term Market Trend: Neutral