SPX Pushes on Resistance...

DJIA + 31.90, +0.37% SP500 + 5.74, +0.61% NASDAQ Comp. + 9.29, +0.50% Russell 2000 + 2.37, +0.45% Exchange NYSE NASD Advancing 1,871 1,753 Declining 1,160 969 Oil $72.68 +$1.35 Gold $961.30 +$7.30 SOX 279.74 -3.46 VIX 28.11 -0.35 The VIX moved down and did confirm the move up in the SPX on Thursday. Strongest Sectors: XLE +2.00%...XLU +1.94%...XLB +1.40% Weakest Sectors: XLY -0.50%...XLI -0.17%...XLK +0.38% Seven of nine sectors moved higher on Thursday. Energy, Utilities, Materials, Healthcare and Financials were stronger than the SPX +0.61%. Financial stocks stronger than XLF +0.81: RF, BAC, KEY, CME, ZION, IVZ, BK, ICE, PNC, STT, USBK AFL and ETF FAS. Leading tech stocks stronger than XLK +0.38% include: DELL, AMAT, T, EMC, EBAY, MSFT, HPW, IBM, ORCL, ADBE, CSCO and VZ. Sector Watch Up Trending: Horizontal Breakout: XLB, XLK, XLY, XLE Sideways: XLV, XLF, XLP, XLI, XLU Down Trending: SPX Key resistance levels: 944 = January horizontal 962 = 161.8% Fib extension Key support levels: 930 = horizontal & 200 DMA 913 = Friday’s S1 907 = Friday’s S2 899 = Thursday’s S1 875 = horizontal The SPX rose from Wednesday’s low at 928 to reach 956 mid-day on Thursday before sellers pushed the index to 944.89 at the close. Thursday’s price movement from support to resistance and back to support followed the trading pattern of the past two weeks. The SPX 956 high was its highest level since last November. Key Nasdaq stocks RIMM, TEVA, ATVI, C,CSA, EBAY MSFT, ORCL, BIDU, ADBE, CSCO and CELG moved higher. SYMC, FSLR, GENZ, AMZN, DTV and GOOG moved lower. Oil again rose to its highest level since last November. Index Commentary The DJIA formed a shooting star… three month chart target 10,340…volume was a below average 249 million shares …closed above its 20, 30, 50 and 200 DMA. The SPX formed a shooting star …3 month chart target of 1,075…closed above its 20, 30, 50 and 200 DMA. The Nasdaq formed a shooting star…3 month chart target of 2,065…closed above its 20, 30 50 and 200 DMA. The RUT formed a shooting star….3 month chart target 606…closed above its 20, 30, 50 and 200 DMA. Stocks to Watch on Friday Leading Stocks Holding Above 30 DMA BIDU, CLB, ICE, VPRT, CTSH, BAP, CAM, GMCR, ATW, GR, EBAY, TRLG, HDB, PCP, RIMM, UYG, HLF, AMX, K, PCLN, VAR, PCR, PPD, SWN, FLS, TDG, NIHD, RCI, JOYG, MUR, PSYS, CHL, MOS, DV, AXYS, BIIB, BYI, CPLA, SPWRA, SYNA, X, MCD, BDX, CBST, AAPL, DLTR, GES, GXDX, ORCL, RBN, USD, WRC, DECK, FAS, CPLA, JEC, MYGN, PWR, AMZN, DV, EZPW, JCOM, SNA, SNHY, STRA, BLUD, GILD, SLGN, JW.A, ACN Moving Above 30 DMA = 3 APEI, WAB, MON Moving Below 30 DMA = 5 ESRX, FSLR, WCG, WMT, URE Staying Below 30 DMA DLB, PSYS, JOSB, AFAM, MHS, NTLS, ESI, HANS, URE, AMED, PETS, PWR, ALGT, NFLX, GME, GPRO, BKC Intermediate Term Market Trend: Neutral Short Term Market Trend: Neutral