SPX Rallies After One Day Pull Back...

INDU       10,387.01  +46.32    +0.45%
SPX          1,098.87    +7.03    +0.64%
COMPQ    2,228.87   +19.98    +0.90%
RUT             634.25    +4.96    +0.79%

Exchange      NYSE   NASDAQ
Advancers     2,092       1,732
Decliners         903          892

Oil            $74.76   +0.09
Gold     $1,256.80   -0.70
SOX          320.31   -1.41
VIX             23.25   -0.55

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

Leading stocks on Tuesday included GMCR, PCLN, II, BUCY, AKS, NTES, DECK, HLF, MOS, GES, FFIV, NFLX, STI, SNDK, FDX, FAS, AGU, NTRI, BYI, UCO, ATI, SWK, WHR, LXK, RVBD, PNC, CAM, BA, FCX, GS, VMW, PCP, CAT, MHS, NETL, CSTR, ZION, LVS, VOD, BAC, FLS, USO, DOW

Biggest losers included VECO, CREE, V, MA, CRUS, FAZ, AMD, HANS, UNG, CHL, WLT, WFMI, GME, UAUA, JEC, USD, TSL, SKX

The SPX rallied from Tuesday’s one day sell off on slightly higher but still light SPY volume. The SPX recovered much of Tuesday’s sell off but closed below its high of the day and did form a higher high and higher low.


Eighty Seven of the NDX 100 moved higher led by strong gains in PCLN, JOYG, EBAY, SYMC, NTAP, NVDA, BIDU, AAPL and GOOG.  The NASDAQ gain was not confirmed by the SOX which moved slightly lower.

All sectors except XLU moved higher led by Industrials, Financials, and Energy.  Advancers led decliners 2.3 to 1 on the NYSE.

AGU, NTES, SPG, VOD, CAM, DE, NYX, PCP, SWK, UPS, BYI, GMCR, BAC, DECK, FDX, RMBS, GES, BA, ATI, STI, ZION and NTRI which closed below the low of the high day on Tuesday moved back above the low of the high day on Wednesday.

SINA, DOW, HSY, URE, A, GR, UAUA, CHL, FAS, V, NDAQ, AMX, MA, CRUS, CREE, TIE, USD, PNC, SWN, WFMI, SKX, ESI and WHR stayed below the low of the high day on Wednesday.

Guidance:
SPX
Resistance: 1,100, 1,115, 1,130
Support: 1,086, 1,071, 1,056

The SPX bounced off its 23% Fib retracement forming a higher low and higher high and closing just below its 1,100 resistance level on Wednesday.
 
Look to enter bullish trades with a breakout of horizontal resistance or a bounce off support and a break above the high of the low day.

Wait on bearish entry signals for a bounce down from resistance and a break of the low of the high day.

The VIX fell -0.55 to 23.25, continuing below the benchmark 25.

The short term 3 day trend is neutral.
The three-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    +5.11 – large white candle did NOT confirm bearish harami
QCOM +0.35 – white candle
GOOG  +6.18 – large white candle reverse one day pull back
BIDU    +1.92 – white candle reverse one day pull back

NDX 100 stocks stronger than the NDX include: PCLN, JOYG, EBAY, SYMC, FLEX, NTAP, NVDA, URBN, CTXS, VRTX, CERN, VRSN, BIDU, LINTA and TEVA.

Stocks weaker than the NDX: AMAT, HANS, INTC, GENZ, FLIR, WCRX, ORCL, SBUX, MCHP, INTU, MSFT, FWLT and LBTYA.

Stocks to Watch on Thursday
Holding Above 30 DMA
TLT, HANS, HLF, PCLN, RVBD, AGU, MCD, POT, FFIV, LVS, NFLX, VMW, CMG, CRM, TSL, CLF, FCX, SINA, SPG, VOD, AIV, BUCY, CAM, DE, DHR, DLR, DOW, NYX, PCP, SWK, UNP, UPS, URE, WLT, WMT, A, BYI, GMCR, HAS, IPI, JEC, LXK, UAUA, AKS, CAT, ICE, X
Moving Above 30 DMA = 7
BAC, DECK, FAS, FDX, FLS, GS, MHS
Moving Below 30 DMA = 1
VECO
Staying Below 30 DMA
CHL, GR, HSY, NTES, RMBS, V, FAZ, GES, CSTR, NDAQ, AMX, GME, MA, SNDK, BA, CRUS, ACN, ATI, CREE, STI, TIE, UCO, USO, USD, PNC, SWN, ZION, UNG, WFMI, NETL, SKX, AMD, NTRI, ESI, WHR

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