Five
of nine sectors moved higher on
Monday…XLU, XLP and XLK were the strongest sectors.
Breadth weakened as decliners led advancers 1.10 to 1 on the NYSE and 1.00 to 1 on the Nasdaq…
Exchange NYSE NASDAQ
Advancers
1,418 1,229
Decliners
1,562 1,232
Monday Highlights:
SPY
moved up
3 cents…closing
at 141.54…volume was 68.7 million shares, the lightest volume of
2012…
VIX up 1.17 at 16.35…
Euro
down 14
pips at
1.2498…
TNX
-0.29
at 16.49…
TLT
up 73
cents at
125.54…
XLF
down 1 cent at
15.12…
AAPL
up +12.46 at
675.68…volume
15.2 million shares …
FB
down 25
cents at
19.15… volume
20.7 million shares…
The
Market Forecast green
line is
in upper zone.
Technical
Commentary:
The SPY opened higher, pulled
back and moved sideways in a
74 cent range
on
Monday. The SPY which bounced on Friday in its bull flag pattern, paused Monday which periodically occurs after a bounce up at support.
Volume was
its lowest of 2012, perhaps
an indication that volume will be below average this week
going into the 3-day Labor Day weekend. The
VIX has
been at its
lowest levels of
the year during August.
The
Euro is again pulling back from a higher high in a bull flag pattern.
Chart
Targets:
SPY
= 143.10
S&R Measuring
ES
= 1,425.75
S&R Measuring
Short-term support at
140.92,
139.80 = SPY
1,403,
1,387 = ES
2,743,
2,700 = NQ
Setup
Chart Patterns
Bull
Flag:
SPY, WDC, EL, DAN, URI, TEN, PCAR, XRAY, MU, VRSN, NVDA, CMCSA, VOD,
AVGO, BBBY, WYNN, ISRG, FOSL, RVBD, CLF, JDSU, GLW, JNPR, SMH, COH,
SINA, VMW, GM, F, CREE, CIEN, ZION, CA, SHLD, BRCM, LLTC, MCHP, MU,
VRSN,
Horizontal or Diagonal Breakout: SLB, SWKS, BMC, CTXS, MSFT
Bounce on Monday – FFIV, BIDU, SBUX, INTU, RAX, RCL, JDSU
32
of 100 NDX stocks closed higher on Monday…
Leading
NDX 100 stocks
included: FSLR, AAPL, FFIV, , RIMM, ADSK, BIDU, SBUX, INTU, CSCO,
LIFE
Lagging NDX stocks included: MXIM, EA, WCRX, SHLD, GMCR, CHKP, DLTR, EXPD, NVDA, EXPE
Leading stocks > +2% on Monday included: TIF, INFA
Lagging stocks < -2.0% included: SOHU, TSLA, ANR, CLF, SWKS
Stocks to Watch on Tuesday…
Holding
Above 30 DMA = 42
SLB,
WDC, UCO, TPX, SWK, GS, JNPR, RVBD, SWI, CIEN, CROX, DHR, IBM SMH,
SWKS, VECO, CRUS, CREE, C, FAS, FCX, JDSU, NKE, RCL, STI, TBT, TIF,
BAC, CDE, CRM, SINA, SOHU, F, AKS, DECK, ZION, ANF, INFA, COH, ICE,
LVS, LNKD, HUM, URE
Moving Above 30 DMA = 0
Moving
Below 30 DMA = 0
Staying
Below
30 DMA
ATI,
TSL, TSLA, X, ANR, GES, MOS, V, VMW, DE, GLW, HLF, COH, VECO, LNKD,
A, CHL, NTES, GRPN, ANR, CLF, DLR, TLT, ZAGG, FAZ, CMG, ESI, UAL, FB,
CSTR, LDK, MCP
Twelve Week Intermediate Term Market Trend: Up
Short
Term Market Trend: Neutral
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