Braod Rally...Narrow Range

DJIA + 189.73, +2.11% SP500 + 24.00, +2.58% NASDAQ Comp. + 41.31, +2.49% Russell 2000 + 23.30, +4.75% Exchange NYSE NASD Advancing 2,747 2,148 Declining 668 756 Oil $65.96 -$1.54 Gold $738.50 -$15.50 $SOX 235.06 +9.12 Strongest Sectors: XLU +5.58%...XLE +4.61%...XLP +4.21% Weakest Sectors: XLV +2.35%...XLY +3.03%...XLB +3.14% Sector Watch Up Trending: Sideways: Down Trending: XLP, XLF, XLY, XLV, XLI, XLE, XLU, XLB, XLK All nine sectors moved higher on Thursday showing the breadth of Thursday's rally. The daily range was modest 289 points compared with recent daily trading range. 79% of NYSE stocks and 72% of Nasdaq stocks moved higher. What was impressive about Thursday's rally was for the first time since October 10, buyers were in control on the second day after a large market rise. The prior two rallies on October 12 and October were followed by sell offs the second day after that had taken back most of the gains. Not so today. That does not mean that sellers won't gain control in the area of resistance, rather it show that sellere were not as agrressive and buyer were more aggressive this time around as the DJIA nears the horizontal resistance. Index Commentary The DJIA and the SPX formed an inside day white candle and closing above their 20 DMA for the first time in weeks. The Nasdaq rose to its DMA and formed a doji with a higher high and higher low compared with Wednesday, closed just below its 20 DMA. The RUT did not confirm Wednesday’s shooting star…rather it gapped open and moved higher through out the day closing at its high for the day. Watch Thursday's low on each index as the key short term support area. Thursday’s Action Moving Up: FSLR, STRA, ESRX, CF, DECK, V, MA, FWLT, MOS, AGU, CNX, IPI, X, NUE, BUCY, FMCN, UAUA, HANS, KRE, PNRA, ANR, AEM, BTU, GRMN, MS, MON, SCHN, DRYS, NIHD, BIDU, INFY, KMT, LDK, ONXX, COH, BRCM, GDX, LCC, NDAQ Moving Down: GS, EXPE Intermediate Term Market Trend: Down Short Term Market Trend: Up