IBM, Financial Stocks Lead Market Higher From Support

DJIA + 279.01, +3.51% SP500 + 35.02, +4.35% NASDAQ Comp. + 66.21, +4.60% Russell 2000 + 23.11, +5.33% Exchange NYSE NASD Advancing 2,936 2,104 Declining 877 716 Oil $43.55 +$2.71 Mar 09 contract Gold $850.10 -$5.10 SOX 205.18 +6.11 VIX 46.42 -10.23 The VIX moved down confirming the move up in the SPX on Tuesday. Strongest Sectors: XLF +14.73%...XLE +6.72%...XLK +4.82% Weakest Sectors: XLP +0.49%...XLU +1.13%...XLV +2.12% Sector Watch Up Trending: Sideways: XLE, XLP, XLU, XLY, XLV, XLI, XLB, XLK, XLF Down Trending: Indices rebounded from Tuesday’s sell off. IBM shares which rose in after-market trading on Tuesday after earnings beat estimates, continued to rise on Wednesday gaining $9.44 or 11.52%. Financial stocks including JPM, BAC, WFC and GS rose sharply on Tuesday. Earnings Wednesday Jan 21 ABT +1.06 inline +1.06 estimate ATI +1.15 beat 0.90 est. AMR -0.77 inline -0.77 est. COH +0.67 inline +0.67 est. IIVI +0.28 inline +0.28 est. UAUA -4.22 inline -4.22 est. UTX +1.23 beat +1.22 est. USB +0.15 below +0.22 est AAPL +1.78 beat +1.39 est. BNI +1.79 beat +1.74 est EBAY +0.41 beat +0.39 est. FFIV +0.40 inline +0.40 est. SLM +0.08 below +0.19 est. Thur: BK, BAX, CIT, CY, F, IGT, ESI, KEY, NITE, KLIC, LMT, POT, SHW, LUV, STI, UNP, UNH, LCC AMC – AMD, COF, CBST, EZPW, GOOG, IBKR, ISRG, MSFT, SYNA, Fri: GE, HOG, MBFI, SLB, XRX Index Commentary The DJIA and SPX formed a piercing line pattern with a new support bounce…closed below their 20, 30 and 50 DMA. The Nasdaq and RUT formed a bullish harami…closed below their 20, 30 and 50 DMA. Stocks to Watch on Thursday Leading Stocks: Holding Above 30 DMA JOSB…BIIB…BCO…ROST…ESI…JW.A…MYGN…DNA…AGN…AMED…BCR…CTSH…MON…RIMM…ICLR…SYNA…BLUD…CERN…RTN…AME…APH…DLTR…DV…STRA…AYE…GIS…K…PCP Moving Above 30 DMA = 19 AET…ATK…CAM…CCC…FLIR…GES…GILD…GME…HLF…HP…IIVI…LAYN…MTD…NE…QSII…RIO…SWN…TEVA…URBN Moving Below 30 DMA = 0 Staying Below 30 DMA AXYS…SINA…PRGO…PPD…ESRX…SPTN…ISRG…IRIS…CHTT…ENDP…CELG…WAB…VIVO…PSYS…PSSI…NILE…EZPW…CHU…ANSS…NDAQ…MCRS…JCOM…VIP…SOHU…RCI…NEU…MTW…MMM…LFC…HAS…FSTR…EPR…AFAM…AAPL…WMS…VMILLLSNA…MBT…FLR…DECK…CBST…AMX…ADBE…RIG…OI…NOV…LNN…HDB…FWLT…FLS…CL…BYI…ATW…AMZN…ACL…WCG…NGS…BAP…VAR…UTX…TECH…SPN…SHW…POT…PETS…PCR…PCLN…OSIP…NIHD…MOS…MOS…KEX…JEC…CIR Wednesday’s Action Moving Up: MA, GS, STRA, MS, FSLR, MON, CLF, CNX, SCHN, NDAQ, ANR, BTU, MEE, AEM, ADM, PCLN, DRYS, V, ZION, SOHU, ESRX, KRE, KMT, PNRA, SINA, IPI, NIHD, KBE, X, POT, MOS, AGU, GRMN, FWLT, BRCM, LAMR, ONXX, NUE, EBAY, GDX Moving Down: COH, UAUA Intermediate Term Market Trend: Neutral – DJIA, SPX, Nasdaq, RUT Short Term Market Trend: Neutral