Key Reversal Day?

DJIA + 12.35, +0.15% SP500 + 1.12, +0.13% NASDAQ Comp. + 22.20, +1.49% Russell 2000 + 9.45, +2.09% Exchange NYSE NASD Advancing 2,006 1,602 Declining 1,787 1,183 Oil $35.40 -$1.88 Gold $806.70 -$1.50 SOX 207.07 +5.06 VIX 51.00 +1.86 The VIX moved up and did not confirm the move up in the SPX on Thursday. Strongest Sectors: XLB +3.79%...XLB+2.96%...XLY +2.46% Weakest Sectors: XLF -4.59%...XLP +0.44%...XLU +0.53% Sector Watch Up Trending: Sideways: XLE, XLP, XLU, XLY, XLV, XLI, XLB, XLK, XLF Down Trending: Stocks rallied off of support lows for each of the broad indices on Thursday forming a potential key reversal day. Watch for confirmation and a higher low and a higher high on Friday's candle. Focus on leading stocks. Friday earnings: C, JCI Earnings reports increase significantly next week. Index Commentary The DJIA formed a hammer…fell to 8,000 support and bounced…closed below its 20, 30 and 50 DMA. The SPX formed a hammer…fell to 817 support and bounced…closed below its 20, 30 and 50 DMA. The Nasdaq formed a bullish harami hammer pattern…fell to 1,450 support and bounced…closed below its 20, 30 and 50 DMA. The RUT formed a bullish harami hammer pattern…fell to 440 support and bounced…closed below its 20, 30 and 50 DMA. Stocks to Watch on Friday Check out the support bounce with volume increase on AME, ESI, GES, MON, PCLN, RIMM Leading Stocks: Holding Above 30 DMA PCLN…JOSB…BIIB…QSII…BCO…ROST…AET…ESI…GES…JW.A…MYGN…DNA…HLF…OSIP…AGN…LAYN…AMED…BCR…CAM…FLIR…CTSH…HP…GME…MON…RIMM…ICLR…SYNA…BLUD…CERN…RTN…TEVA Moving Above 30 DMA = 14 AME…APH…DLTR…DV…IIVI…KEX…MOS…MTD…NIHD…RIO…SPN…STRA…TECH…URBN Moving Below 30 DMA = 4 BAP…NGS…POT…WCG Staying Below 30 DMA GIS…PTNR…AXYS…SINA…PRGO…PPD…ESRX…CHTT…IRIS…ISRG…SPTN…ENDP…ANSS…CHU…EZPW…NILE…PSSI…PSYS…VIVO…WAB…JCOM…MCRS…NDAQ…AAPL…AFAM…EPR…FSTR…HAS…LFC…MMM…MTW…NE…NEU…RCI…SOHU…VIP…AMX…CBST…DECK…FLR…MBT…SNA…VMI…WMS…ADBE…ATK…PCP…PETS…ACL…AMZN…ATW…AYE…BYI…CCC…CIR…CL…FLS…FWLT…GILD…HDB…JEC…K…LNN…NOV…OI…PCR…RIG…SHW…SWN…UTX…VAR Thursday’s Action Moving Up: STRA…FSLR…CF…MON…AEM…SCHN…X…MOS…AGU…PCLN…HANS…CLF…NUE…IPI…ONXX…ADM…FWLT…UAUA…COH…INFY…GDX… Moving Down: MA…ZION…V…SOHU…GS…KBE…AFAM…MS…RF Intermediate Term Market Trend: Neutral – DJIA, SPX, Nasdaq, RUT Short Term Market Trend: Down