SPX / SPY Pause on Tuesday after Strong Rally on Monday…

  

·        *  SPX and SPY paused on Tuesday following Monday’s reversal support bounce rally. 

·        *  Four sectors were positive. 

·        *  VIX moved slightly lower after a strong bounce down on Monday. 

·        * Trend and support continue to indicate that a rally support bounce is more likely that a break of support.

Up: IWM

Down: QQQ, SPY, DIA

Uptrend sectors:  XLP, XLRE, XLU, XLY, XLV,

Look for a potential bounce in stronger stocks like: CTRP, SWKS, ATVI, STX, MU, AAPL, ADBE, TSLA, AAL, WDC, MSFT,

Bounces on Monday included AMZN, FB, MAR, SBUX,

Potential breakouts include: JD, BABA,

Earnings this week:

Monday:  JBHT, NFLX,

Tuesday: BAC, CMA, GS, IBM, JNJ, LRCX, UAL, RF, UNH, YHOO

Wednesday: MS, HBAN, USB, QCOM, EBAY, AXP

Thursday: CSX, MAT, MXIM, PM, SHW, URI, KEY, TRV, ETFC, V

The intermediate and long-term trends are still up.

6-month Intermediate Term Market Trend: Up

3-day Short Term Market Trend: Neutral

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