SPX Rises to Short Term Resistance...

DJIA                           10,255.28   +5.74 +0.06%
SP500                          1,102.83    +4.45 +0.41%
COMPQ                        2,303.03  +21.96 +0.96%
Russell 2000                    667.37   +6.85 +1.04%


Exchange                  NYSE              NASD
Advancing                 1,931               1,656
Declining                   1,084               1,004

On the SPX
A MACD bullish divergence has been forming for the past two weeks
VIX formed a MACD bearish divergence over the past two weeks suggesting fear will fall
SPX needs a higher high to have a new short term up trend
Thursday makes a higher intraday high closes less than a point below May 27 high
Closes above 10 DMA for two straight days the first time since April 26
Over the past 9 trading days the SPX is up 31 points.
Over the prior 8 trading days the SPX was down 88 points.
Over the past 9 trading days 5 have been up and 4 have been down.

Energy, Utilities and Semiconductor stocks rally

Dave's Insight: Continue to Follow Your Rules.

Guidance:
The SPX closed above Wednesday's high at 1,102. The SPX paused after Wednesday's strong support bounce and in front of Friday's employment numbers.

Watch for a potential breakout and close above the May 27 high of 1,103 on Friday.

NFLX, DECK, CRM, AKAM, VMW, NIHD, GOOG and SNDK continue recent support bounce.

UNG breaks out of basing pattern. 

PCLN and RIMM still weak.

Trade strong stocks up.
Trade weak stocks down.

The VIX fell -0.71 and closed at 29.46.

The short term 9-day trend is neutral.
The six-month trend is neutral.
The twelve-month trend is up.

Continue to focus on and trade setups on the charts of the stocks you watch, trade with the trend of the chart and follow your rules.

AAPL -0.83
QCOM +0.45
GOOG +12.23
BIDU +0.68
NDX 100 stocks stronger than the NDX include: DELL, AKAM, EBAY, FLEX, HOLX, STX, VRSN, URBN, ROST, LRCX, FWLT, RYAAY, LINTA, WCRX, DTV, PCAR, ALTR, APOL, JOYG, KLAC, ADSK, GOOG, CTSH, XLNX, SYMC, ERTS, CA, DISH, CHKP, AMZN, LLTC, BIIB and FSLR.

Stocks weaker than the NDX: PCLN, COST, CEPH, NWSA,GRMN, AMGN, SHLD, ESRX, RIMM, AAPL, GILD, SIAL, NTAP, NVDA, CHRW, BBBY, ADBE,FLIR, EXPE, GENZ, MRVL and XRAY.

Stocks to Watch on Friday
Holding Above 30 DMA
EXBD, NTRI, FAZ, NFLX, SNDK, AZO, DECK, LXK, CRM, DE, HLF, ICE, LVS, OSTK, SWN, UAUA, UNG, WFMI
Moving Above 30 DMA = 1
MHS
Moving Below 30 DMA = 1
HAS
Staying Below 30 DMA
ATI, SYNA, WHR, ESI, BYI, DHR, GR, MCD, WMT, ZION, STI, PNC, AIV, AMD, CAT, CREE, SPG, SWK, UNP, URE, WFC, BA, JEC, CHL, GME, HANS, ACN, AMX, DOW, FAS, FLS, PCLN, PCP, TSL, USD, USO, UYG, ATW, BAC, GES, MA, V, CAM, BUCY, WLT, CLF, GMCR, GS, FCX, X, AGU, IPI, POT, MOS

Intermediate Term Market Trend: Neutral
Short Term Market Trend: Neutral