AAPL Gains...SPX Trades Between Support & Resistance...

DJIA                            11,124.92 +7.86 +0.07%
SP500                           1,205.94   -1.23  -0.10%
COMPQ                         2,481.26 +4.30 +0.17%
Russell 2000                    726.19  +4.64 +0.64%

Exchange                   NYSE              NASD
Advancing                  1,758              1,426
Declining                    1,307              1,284

Oil         $83.68          -0.17
Gold    $1,148.20      +9.60
SOX      391.42          -4.29
VIX          16.32         +0.59

Index  Direction       Confirmation
VIX      Up                   Yes – SPX
SOX    Down               No – COMPQ

Strongest Sectors: XLI +0.68%…XLY +0.46%...XLK +0.21%
Weakest Sectors: XLV -1.75%...XLF -0.60%...XLB -0.26%

Four of nine sectors moved higher on Wednesday. Industrials, Consumer Discretionary, Technology, Utilities, Consumer Staples and Energy were stronger than the SPX -0.10%.

Sector Watch

Up Trending: XLY, XLI, XLP, XLF, XLK
Horizontal Breakout:
Sideways: XLB, XLE, XLV, XLU
Down Trending:

Key Resistance Levels
1,216 = Fib extension
1,220 = Sep 25, 2008 resistance
Key Support Levels
1,200 = Jul 2008 support
1,178 = Fib extension

The SPX pulled back to 1,200 support testing Tuesday's breakout before rising and closing down just 1.23 points for the day at 1,205.95. AAPL gapped higher on Wednesday after a strong earnings report after the close on Tuesday. BA also moved higher after reporting better than expected earnings. ZION gained another 5% after a smaller than expected loss and raised guidance on Monday.

Key Earnings to Watch:
Monday – AKS, BNI, BIIB, KO, FUQI, GS, IBM, RF, STT, STLD, ZION
Tuesday – ALGT, AAPL, BK, CREE, DAL, FCX, GILD, JNJ, MCD, MICC, MS, PCAR, UTS, WFC, YHOO
Wednesday – ABT, ALK, AMGN, T, BA, CTXS, DHR, EBAY, GENZ, GR, ESI, KEY, LRCX, NFLX, BTU, QCOM, SNDK, SBUX, TER, VZ, VRTX
Thursday – AMZN, AXP, BUCY, CAL, DECK, HON, MSFT, NUE, PEP, TRV, UNP
Friday – FLIR, SLB

AAPL +14.62
QCOM -0.66
GOOG -0.74
BIDU -5.87
NDX 100 stocks stronger than the NDX include: AAPL, EXPD, CHRW, GENZ, AMZN, NTAP, FWLT, LOGI, APOL, AKAM, SPLS, LBTYA, VRSN, FLIR, STX, RYAAY, PCAR, DELL, ADSK, NWSA, INTU, SIAL, CTXS, ROST, CA, ORLY and URBN.

Stocks to Watch on Thursday
Holding Above 30 DMA
DLB, NFLX, UAUA, CREE, WHR, BUCY, UNP, CAT, V, URE, DE, BAC, DHR, JEC, TDG, FAS, UYG, USD, SNDK, MELI, FLS, HDB, VAR, DOW, AMD, AMX, WFC, CEDC, MA, ZION, BKC, MCD, GME, TSL, BYI, CAM, SYNA, ATW, CHL, SWK, ACN, WAB, AMED, ESI, K, WCG, HLF, ICE, MHS, PCLN, PCP, VPRT, WLT, SPG
Moving Above 30 DMA = 5
DECK, GES, GR, BA, ATI
Moving Below 30 DMA = 3
BDX, USO, CLF
Staying Below 30 DMA
ALGT, CBST, STT, GMCR, SWN, GS, FCX, X, WMT, HANS, PWRD, AGU, MYGN, IPI, POT, MOS, HEAT, CGA, FUQI, FAZ, UNG, MON

Intermediate Term Market Trend: Up
Short Term Market Trend: Up