SPX Rises Again...

I just returned from teaching a two day AT Workshop in Chicago to 420 traders...I will post in the next several minutes... DJIA + 83.74, +0.92% SP500 + 11.60, +1.19% NASDAQ Comp. + 16.54, +0.84% Russell 2000 + 9.42, +1.72% Exchange NYSE NASD Advancing 2,470 1,850 Declining 557 848 Oil $66.94 +$3.59 Gold $934.90 +$7.70 SOX 301.05 +0.40 VIX 25.40 -0.21 The VIX moved down and did confirm the move up in the SPX on Thursday. Strongest Sectors: XLB +3.04%...XLF +2.30%...XLI +1.62% Weakest Sectors: XLP -0.12%...XLV +0.14%...XLK +0.51% Eight of nine sectors moved higher on Thursday. Materials, Financials, Industrials, Consumer Discretionary, Utilities and Energy were stronger than the SPX +1.19%. Financial stocks stronger than XLF +2.30%: RF, ZION, AFL, KEY, SCHW, MS, IVZ, USB, MET SPG, PRU, BACK ICE, CME, NTRS and ETFs UYG and FAS. Tech stocks stronger than XLK +0.51%: AMT, MA, GOOG, AAPL, T, HPQ, EBAY, CSCO, VZ, GLW, ADBE, ORCL, QCOM and IBM. Sector Watch Up Trending: XLK Horizontal Breakout: XLB, XLY Sideways: XLE, XLV, XLF, XLP, XLI, XLU Down Trending: SPX Key resistance levels: 1,007 = November horizontal Key support levels: 982 = Monday's high 962 = 161.8% Fib extension 944 – 956 = old January/June/July resistancel 930 = horizontal 920 = horizontal end of May high 917 = 50 DMA Earnings of Interest Post Earnings AKAM -19.07% FISV -5.13% GMR -6.94% BDX -8.44% WYNN +13.18% DLB +3.03% after hours GPRO -8.94% after hours VPRT -6.40% after hours DIS -3.13% after hours Friday: CVX, DRYS The SPX and other broad indices broke out of this week’s consolidation pattern. The SPX went to its measuring distance price target of 996 and then profit takers stepped in and the index sold off. I taught this technique in my Workshop yesterday and applied it on the SPX chart at the open when the index was around 984 and calculated a price target of 996. The class was pretty amazed when the SPX went to 996 later in the morning and then sold off. The SPX trading range expanded to 20 points expanding this weeks trading range to 28 points. AAPL rose 2.76 and QCOM was up 27 cents. GOOG rose $9.40 and BIDU was up $7.29. Strong Nasdaq 100 stocks included WYNN, EXPE, XRAY, LINTA, PCAR, ORLY, FSLR, URBN, NIHD SBUX, STLD, GENZ, JOYG and FWLT. Watch Monday’s high of 982 as short term support, Stocks to Watch on Friday Leading Stocks Holding Above 30 DMA PWRD, K, CPLA, ACN, PSYS, MHS, SLGN, AMED, ALGT, PPD, AMX, NFLX, BYI, CTSH, AAPL, DLTR, ESRX, PETS, USD, BIDU, FUQI, GMCR, HLF JOSB, AMZN, ATW, BAP, CAM, DLB, EBAY, FAS, GES, GILD, JCOM, NIHD, ORCL, PCLN, RCI, SNHY, TDG, TRLG, UYG, WRC, ESI, MOS, MUR, WCG, SNA, X, CBST, CHL, SWN, WAB, BLUD, CLB, HDB, JOYG, PCP, RIMM, URE, WMT, EZPW, MON, RBN, STRA, AFAM, CHL, FLS, PWR, VAR, FSLR, SPWRA, BKC, GPRO, SYNA, DV, GR Moving Above 30 DMA = 3 CLB, HANS, VPRT Moving Below 30 DMA = 2 BDX, BIIB Staying Below 30 DMA GME, JW.A, DECK, JEC, HDB, MCD, FAZ, APEI, NTLS, GXDX, ICE, MYGN Intermediate Term Market Trend: Neutral Short Term Market Trend: Up