Stocks Soar after Strong Earnings From INTC and JPM...

Quiz of the Day: Great Job...the offical number was 1,234 and I have rounded it off to 1,225 in several of my comments. You are listening and remembering. That's important because if you believe the chart, which you should within a probability, it helps you trade with the trend when you should. DJIA + 144.71 +1.47% SP500 + 18.83 +1.75% COMPQ + 32.34 +1.51% Russell 2000 + 12.11 +2.00% Exchange NYSE NASD Advancing 2,278 2,048 Declining 769 698 Oil $75.18 +1.03 Gold $1,064.40 -0.40 SOX 334.51 +4.51 VIX 22.86 -0.13 The VIX moved down and did confirm the move up in the SPX on Wednesday, which is a new 52 week low. The SOX moved up and did confirm the move up in the COMPQ. Strongest Sectors: XLF +3.42%...XLI +2.90%...XLB +2.14% Weakest Sectors: XLU +0.07%...XLP +0.35%...XLK +1.18% All nine sectors moved higher on Wednesday. Financials, Industrials and Materials were stronger than the SPX +1.75%. Financial stocks stronger than XLF +3.42%: PRU, TROW, IVZ, MS, PNC, USB, SGP, BAC, WFC, KEY, C, ZION and ETFs UYG and FAS. Tech stocks stronger than XLK +1.18%: GLW, HPQ, AMT, ADBE, QCOM, ADP, DELL, CSCO, AMAT, GOOG, INTC, EMC and ORCL. Sector Watch Up Trending: XLK, XLB, XLY, XLV, XLP Horizontal Breakout: XLF, XLE, XLI Sideways: XLU Down Trending: Key Resistance Levels: 1,100 = September 2008 Old Support Key Support Levels 1,075 = 875 Breakout Chart Target 1,061 = Sep 16 S1 Level 1,056 = Sep 25 R1 level 1,044 = October Horizontal Old Resistance 1,025 = 950 Breakout Chart Target The broad indices soared after strong earnings from INTC earnings Tuesday after the close and JPM earnings Wednesday morning. The SPX closed at 1,092 breaking horizontal resistance at 1,075 and the DJIA closed at 10,015. The SPX, DJIA, COMPQ and RUT all closed at 52 week highs. (click image to enlarge) JPM 82 cents EPS vs. 52 cents estimate Thursday’s Key Earnings: GS, GOOG, IBM, BAX, AFAM, CBST GS, C and BAX are scheduled to report before the open. Friday is Options Expiration. Guidance: The intermediate term trend is up as the major indices broke through horizontal resistance and made 52 week highs. The indices delivered big gains on strong EPS from INTC and JPM. The next key resistance for the SPX is 1,100. Look to earnings and guidance from GS and C before the market open on Thursday to set the level of trading. IBM and GOOG report after the close and will likely impact trading Friday morning. Take breakout and support bounce entry signals as they occur and follow your rules. Breakout: BDK, BAC, JOYG, INTC, BUCY, HANS, FLS, AKAM, AMX, AMZN, CAM, FCX, JCG, AAPL, PCLN, BIDU, GOOG, NTAP Potential Breakout Setups: NKE, DD, ADBE, WHR, DOW, APOL, CAT, AGU, NWSA, AXP, FSLR, XLNX, MA, V, MRVL Pulling Back: STT, FSLR Potential C Patterns: C Pattern Breakout: ADSK Lower Close in Support Bounce: TXN, SPG Flag Setups and Bounces in Progress: ZION, FAST, LVS, WYNN, DE, X, JEC, JCI, WLT, HOLX, FLIR, FWLT, SPG Potential Down Trend Setups: RIMM, AGCO, MON, MYGN, ORCL AAPL +1.27 QCOM +0.94 GOOG +9.21 BIDU +2.68 NDX 100 stocks stronger than the NDX: AKAM, JOYG, ORLY, LOGI, URBN, FWLT, SHLD, MICC, MCHP, ILMN, ISRG, STLD, GRMN, STX, JBHT, EXPE, LIFE, AMZN, INFY, BRCM, CHRW, RYAAY, NIHD, NWSA, MRVL, BIIB, APOL, ESRX, ADBE, QCOM, ADP, ALTR, SIAL, AMGN, SRCL, DELL, VRTX, CSCO, LINTA, AMAT, MXIM, ATVI and NTAP. Stocks to Watch on Thursday Leading Stocks Holding Above 30 DMA CTSH, AAPL, PETS, PCLN, TDG, PCP, CLB, ESRX, NIHD, K, FLS, GXDX, BAP, GME, WRC, BIDU, HDB, JW.A, ATW, EZPW, JOYG, TRLG, GPRO, PPD, DECK, VPRT, AMZN, GMCR, ACN, SLGN, FSLR, NFLX, HANS, DV, ESI, STRA, MCD, CPLA, HLF, SWN, AFAM, AMED, CAM, GES, ICE, UYG, AMX, APEI, BLUD, EBAY, FAS, MUR, SPWRA, CHL, BYI, WAB, DLTR, MHS, WCG, GR, SNA, SNHY, USD, BKC, WMT Moving Above 30 DMA = 8 DLB, GILD, JOSB, MOS, PSYS, WAB, URE, PWRD Moving Below 30 DMA = 1 ALGT Staying Below 30 DMA NTLS, PPD, FAZ, BDX, BIIB, JCOM, RCI, VAR, FUQI, JEC, X, CBST, RBN, RIMM, MYGN, PWR, SYNA, ORCL, MON Intermediate Term Market Trend: Up Short Term Market Trend: Up