Indices Rise

DJIA + 164.79, +1.46% SP500 + 17.01, +1.38% NASDAQ Comp. + 29.52, +1.32% Russell 2000 +1.84, 0.26% Exchange NYSE NASD Advancing 1,323 1,310 Declining 1,698 1,567 Oil $100.87 -$1.71 Gold $745.50 -$17.00 SOX 323.89 +1.95 Strongest Sectors: XLI +2.30%...XLF +2.29%...XLB +1.71% Weakest Sectors: XLV +0.41%...XLP +0.41%...XLU +0.79% Sector Watch Up Trending: XLP, XLY Sideways: XLF, XLI, XLV Down Trending: XLE, XLU, XLB, XLK The broad indices rallied on Thursday, the seventh anniversary of the 9/11 attack, confirming Wednesday’s bullish harami for each index. All nine sectors ETF’s were up. However, decliners led advancers again on Thursday on both the NYSE and Nasdaq. The ratio of decliners to advancers was approximately 1.25 to 1, significantly less that Wednesday’s lopsided 7 to 1. Index Commentary The DJIA confirmed Wednesday’s bullish harami and broke through its 50 DMA and closes as its 20 DMA…continues to trade in a sideways congestion…rose above Tuesday’s R1 level and is still below Tuesday’s R2. The SPX confirmed its bullish harami and is trading slightly above Wednesday’s R1 level and it bounced above its 61.8% Fibonacci level…continues below its 20, 30, 50 and 200 DMA. The Nasdaq formed a bullish engulfing pattern and rose above its 78.6% Fibonacci level…trading below its 20, 30, 50, and 200 DMA. The RUT formed a hammer pattern that confirmed Wednesday’s bullish harami and bounced up through its 200 DMA…closed above the August 26 support low of the recent M Top Reversal pattern…trading above its 50 and 200 DMA. Thursday’s Action Moving Up: MA, BIDU, POT, MON, X, AGU, RIMM, AMZN, BUCY, CLF, CELG, PCLN, MOS, FWLT, CNX, BTU, SCHN, MEE, ANR, NUE, PNRA, ESRX, V, LDK, IBM, UAUA, DRYS, WRC, AAPL, MTL, KMT, COH, LCC, LAMR, SNDK, IPI, GRMN, Moving Down: MER, INFY, FSLR, SOHU, AEM, SINA, GDX, STRA Intermediate Term Market Trend: Neutral Short Term Market Trend: Neutral