SPX Four Days, Four Percent to End Q2...

The SPX started June from the 1^st to the 6^th, four trading days, by falling 59 points or just over four percent.  The SPX ended June from the 27^th to the 30^th, four trading days, rising 52 points or just over four percent.

The SPX ended Q2 moving up +13.23 to close at 1,320.64, six points above its closing price on June 1.  For the six months the SPX was up 63 points or +5.0%.

(click image to enlarge)

SPX large white candle, above 30 DMA +1.01%

INDU large white candle, above 30 DMA +1.25%

COMPQ large white candle, above 30 DMA +1.21%

RUT white candle, above 30 DMA +0.92%

Breadth strengthened as advancers led decliners 2.72 to 1 on the NYSE and 2.39 to 1 on the NASDAQ …

Exchange       NYSE        NASDAQ

Advancers      2,215            1,834

Decliners          814               765

Index              Chg.    Close    Direction    Confirmation

VIX                 -0.75     16.52      Down         Yes – SPX

SOX             +10.18   410.35      Up              Yes – COMPQ

Leading stocks > +2% on Thursday included MCP, CY, CRUS, SINA, TSL, VMW, CREE, LDK, JDSU, CAT, COH, VECO, F, GLW, SOHU, SHM, SWK, CAM, SNDK, FCX, CLF, JNPR

Losing stocks < -2.0% included CF, V

Positives – SPX, VIX, INDU, COMPQ, RUT, TNX, TBT, BIDU, GOOG, PCLN, QCOM, Euro, and breadth strengthened,

Negatives – TLT, NFLX, AMZN

All nine sectors moved higher on Wednesday.  Industrials XLI +1.58%, Energy XLE +1.48% and Technology +1.26% were the strongest sectors.

Interest rates TNX rose +0.50, bond ETF TLT fell 15 cents and Financials XLF rose 6 cents, its largest gain in more than 3 months.  The Euro moved up 67 pips to close at 1.4501 at 5 pm on Thursday.

Resistance:, 1,321, 1,330, 1,344

Support: 1,310, 1,300, 1,288

The short term 3 day trend is up.

The six-month trend is neutral.

The twelve-month trend is up.

Trade with the trend of the chart you are trading.

Bullish entry signal is a bounce off support and a break above the high of the low day or a break out of horizontal resistance.

Bearish entry signal is a break of short term support or a bounce down from the 30 DMA or other resistance.

AAPL +1.63– potential hanging man, above 30 DMA

AMZN +0.31 – white candle, breakout setup, above 30 DMA

BIDU +2.55 – white candle horizontal breakout, above 30 DMA

GOOG +8.81 – white candle, 30 DMA setup, below 30 DMA

NFLX -2.25 – spinning top, above 30 DMA

PCLN +8.05 – white candle, breakout setup, above 30 DMA

QCOM +1.36 – large white candle, close above 30 DMA

NDX 100 stocks stronger than the NDX include JOYG, NTAP, EBAY, BRCM, STX, INTC, XLNX, GRMN, MRVL and AMAT.

Stocks weaker than the NDX include VMED, BIIB, NFLX, FFIV, DLTR, LIFE, URBN, VRTX, VRSN and FLEX.

Stocks to Watch on Friday

Holding Above 30 DMA

TIF, KKD, CROX, GMCR, HUM, INFA, TPX, AGU, CMG, CRM, HLF, NETL, VMW, ATW, NGLS, CHL, CLF, ENTR, ESI, ACN, CSTR, ARUN, FFIV, ICE, POT, RVBD, TBT, A, AKS, CAM, CAT, COH, CRUS, DECK, DLR, DOW, FCX, LDK, LVS, NKE, NTES, PCX, SLB, TSL, UNP, WDC, ZION, ATI, DE, FAS, GES, MCP, MOS, NDAQ, SWN, URE, V,  X

Moving Above 30 DMA = 4

DHR, SINA, SMH, SWK

Moving Below 30 DMA = 3

BAC, CF, WTW

Staying Below 30 DMA

FAZ, TLT, UAL, UNG, IAG, CY, VECO, CREE, ANF, NVDA, ANR, FWLT, SNDK, STI, MHS, HAS, JDSU, JNPR, GLW, CIEN,  F, IL, SWKS, WLT, SOHU, UCO, SLW, GS, CDE

Intermediate Term Market Trend: Neutral

Short Term Market Trend: Up