SPX Pulls Back as Euro Moves Lower...AMZN Gaps Lower After-hours...

Six of nine sectors moved higher on Tuesday.  XLU, XLF and XLK were the strongest sectors.

The SPY broke above the high day the low day in a bull flag at the open but then reversed as the Euro started to give back its overnight gains.  The SPY found support around 130.75 after the Euro found support around noon ET.  The SPY did not fall below Monday’s low and closed down just five cents on Tuesday.  The intermediate term trend is still up.

Money Flow

Euro         -60 pips     1.3082

TNX          -0.38            17.99

TLT          +1.38          120.85

XLF         +0.05            14.05

SPX         -0.60        1,312.41

VIX          +0.04           19.44

NDX +0.11%

COMPQ +0.07%

RUT +0.06%

SPX -0.05%

INDU -0.16%

Money Flow was typical as the Euro fell and TNX moved lower and bonds closed higher.   XLF did rise again even though interest moved lower.  The SPX closed slightly lower.  The most recent SPX breakout has a chart target of 1,428 within 12 weeks.

The VIX moved slightly higher and did confirm the slightly lower SPX on Tuesday.

The SPX rose 4.3% and the NDX gained 8.3% for the month of January.  The NDX closed Tuesday with a bull market new high close.

(click image to enlarge)

SPY moved down 5 cents on volume of 157.1 million shares.

Breadth strengthened as advancers led decliners 1.41 to 1 on the NYSE and 1.13 to 1 on the NASDAQ.

Exchange        NYSE        NASDAQ

Advancers       1,745          1,343

Decliners         1,229           1,179

Several bull flags gave entry signals on Tuesday including SPY and X which reported earnings before the open.  AMZN -16.94, -8.71% reported lower sales and guidance after the close.  Place some conditional orders tonight and have some fun tomorrow if the market bounces.

Tuesday Reports

AMZN miss revenues lower guidance

BRCM beat

MTW revenues beat

MAT EPS beat

STX beat

X beat

(click image to enlarge)

Earnings season continues…

Wednesday – BMC, CMG, EA, ENTR, GMCR, JDSU, LVS, QCOM, NDAQ

Thursday – CME, DOW, MA, MCHP, PCX, RCL

Leading stocks > +2% on Tuesday ZAGG, X, GRPN, COH, GES, GLW

Losing stocks < -2.0% included TSL, PCX, ANR, LDK, LNKD, ENTR, SOHU, CDE, SWN, TPX, TBT, KKD, NDAQ

NDX 100 stocks stronger than the NDX included VRTX, MAT, EA, SIRI, ALXN, BMC, GRMN, AMAT, FLEX and DELL.

Stocks weaker than the NDX include SHLD, NFLX, SPLS, FSLR, CTRP, BIDU, RIMM, APOL, ORCL and NWSA.

Two NDX stocks CHRW and COST closed above the 30 DMA and two closed below the 30 DMA leaving 90 NDX stocks above their 30 DMA. 

Stocks to Watch on Wednesday

Holding Above 30 DMA = 67

WDC, DLR, IL, URE, CMG, DE, DOW, ENTR, FAS, SWK, UNP, F, NKE, CIEN, CRUS, SMH, SWKS, JDSU, NGLS, AKS, BAC, CF, CHL, DHR, STI, X, A, C, CAT, CLF, FCX, MOS, POT, TPX, ESI, KKD, CREE, GS, CROX, HLF, LNKD, LVS, RCL, SLW, SOHU, TSL, CSTR, SINA, VECO, COH, MCP, ARUN, CDE, CRM, FFIV, HAL, SLB, INFA, NTES, NVDA, VMW, WLT, IBM, ZAGG, UAL, TSLA, UCO, LDK, TLT

Moving Above 30 DMA = 2

GES, TIF

Moving Below 30 DMA = 5

ANF, ANR, JNPR, NDAQ, SWN

Staying Below 30 DMA

TBT, V, ICE, RVBD, UCO, ATI, SNDK, ZION, GLW, HUM, GRPN, PCX, FAZ, DECK

Seventeen Week Intermediate Term Market Trend: Up

Short Term Market Trend: Neutral

Futures Point to a Higher Open...Watch for Flag Entries...

BMO – ES +6.00 and NQ +11.50 futures are higher 20 minutes before the open in pre-market trading and point to a higher open…volume is moderate for pre-market with a more stocks quoting up than down…Financial stocks, XLF is up 8 cents on 11,800 shares in pre-market at this time…FAS is up $1.45…

TLT is down 9 cents and the Euro is up 36 pips overnight trading …

NDX leaders AAPL, AMZN, GOOG and QCOM are higher…BIDU and NFLX are lower…PCLN is unchanged

Dave’s Insight for Tuesday:  Higher Euro…flat bonds… Financials higher…setting up a higher open … Follow YOUR rules for entry, exits and stops...TRADE THE TREND…

Watch for a potential bounce above the high of the low day and an entry into bull flags or other short-term bullish entries and follow your rules for stop adjustment or exit…the intermediate term trend is still up and the one day pull back appears to have been a modest low volatility move…

The SPY is following the Euro higher early this morning on lighter volume…

Chart Signals will be watching the Euro, XLF and the VIX...the VIX continues to indicate stable trend…

SPX

Resistance: 1,315, 1,331, 1,347

Support: 1,300, 1,292, 1,277

Quoting Down – FAZ, SOHU, POT, A, ISRG, BIDU, NFLX, BIIB, MNST

Quoting Up – URE, CF, UCO, FAS, ATI, MCP, FFIV, WLT, LNKD, CAT, GS, TSLA, SLB, X, IBM, MOS, FCX, CLF, SLW, HAL, DE, CDE, VMW, LVS, SNDK, SWKS, C, CMG, ANR, JDSU, SINA, RCL, AAPL, GOOG, AMZN, GOLD, WYNN, PCAR, FSLR, MAT, PNRA, WFM, GMCR, KLAC, BRCM, NUAN, ALTR, QCOM, SBUX, STX, COST

SPX Forms Hammer in Flag Pullback as Euro Bounces from Daily Low...

Eight of nine sectors moved lower on Monday.  XLK, XLB and XLV were the strongest sectors.

The SPY broke below the low of the high day for the second straight day, only to rally and close at Thursday’s low.  The SPY is forming a bull flag off Thursday’s high, so a short-term trader that was stopped out with a profit should now be looking for a potential re-entry.  The intermediate term trend is still up.

Money Flow

Euro         -76 pips    1.3142

TNX         -0.61            18.37

TLT         +1.39          119.47

XLF         -0.13            14.00

SPX         -3.32       1,313.01

VIX          +0.87            19.40

NDX +0.14%

INDU -0.05%

COMPQ -0.16%

SPX -0.25%

RUT -0.81%

Money Flow was typical as the Euro fell and TNX moved lower and bonds closed higher.   XLF did rise even though interest moved lower.  The SPX closed lower.  The most recent SPX breakout has a chart target of 1,428 within 12 weeks.

The VIX moved higher and confirm the lower SPX on Monday.

(click image to enlarge)

SPY moved down 45 cents on volume of 146.9 million shares.

Breadth weakened as decliners led advancers 1.69 to 1 on the NYSE and 1.94 to 1 on the NASDAQ.

Exchange        NYSE        NASDAQ

Advancers       1,103             860

Decliners         1,876           1,670

There are a lot of good looking bull flags in the watch list today.  Place some conditional orders tonight and have some fun tomorrow if the market bounces.

(click image to enlarge)

Earnings season continues…

Tuesday – AMZN, BIIB, BRCM, CHRW, XOM, MTW, MAT, PCAR, STX, X

Wednesday – BMC, CMG, EA, ENTR, GMCR, JDSU, LVS, QCOM, NDAQ

Thursday – CME, DOW, MA, MCHP, PCX, RCL

 Leading stocks > +2% on Monday LDK, FAZ, CRUS

Losing stocks < -2.0% included PCX, CREE, X, SOHU, IL, ZAGG, NTES, BAC, CIEN, AKS, JNPR, ESI, FAS, NDAQ, RVBD, ANR, TPX, TBT, DECK, WLT, KKD, C, GRPN, LNKD

NDX 100 stocks stronger than the NDX included PNRA, VRSN, MU, NUAN, QCOM, DELL, SBUX, NFLX, RIMM and MSFT.

Stocks weaker than the NDX include CTRP, SPLS, FSLR, VRTX, WYNN, KLAC, APOL, BBBY, ADSK and MNST.

Three NDX stocks APOL, CHRW and YHOO closed below the 30 DMA leaving 90 NDX stocks above their 30 DMA. 

Stocks to Watch on Tuesday

Holding Above 30 DMA = 72

WDC, DLR, IL, URE, CMG, DE, DOW, ENTR, FAS, SWK, UNP, F, NKE, CIEN, CRUS, SMH, SWKS, JDSU, NGLS, AKS, BAC, CF, CHL, DHR, STI, X, A, C, CAT, CLF, FCX, MOS, POT, TPX, ESI, KKD, CREE, GS, JNPR, CROX, HLF, LNKD, LVS, RCL, SLW, SOHU, TSL, CSTR, SINA, VECO, COH, MCP, ARUN, CDE, CRM, FFIV, HAL, NDAQ, SLB, INFA, NTES, NVDA, VMW, WLT, IBM, ZAGG, UAL, TSLA, UCO, ANF, ANR, LDK, SWN

Moving Above 30 DMA = 1

TLT

Moving Below 30 DMA = 2

TBT, V

Staying Below 30 DMA

ICE, RVBD, UCO, ATI, GES, SNDK, ZION, GLW, HUM, GRPN, TIF, PCX, FAZ, DECK

Sixteen Week Intermediate Term Market Trend: Up

Short Term Market Trend: Neutral

Futures Point to a Lower Open Following the Euro Lower...

BMO – ES -12.00 and NQ -20.75 futures are lower 30 minutes before the open in pre-market trading and point to a lower open…volume is moderate for pre-market with a more stocks quoting down than up…Financial stocks, XLF is down 16 cents on 162,300 shares in pre-market at this time…FAS is down $2.55…

TLT is up $1.79 and the Euro is down 130 pips overnight …

NDX leaders AAPL, AMZN, BIDU, GOOG, PCLN and QCOM are lower…NFLX is higher…

Dave’s Insight for Monday:  Lower Euro…Higher bonds… Financials lower…setting up a lower open … Follow YOUR rules for entry, exits and stops...TRADE THE TREND…

Watch for a potential move below the low of the high day and a break of short term on any positions and follow your rules for stop adjustment or exit…the intermediate term trend is still up and any pull back is likely to be a low volatility move…

The SPY is following the Euro lower early this morning on light volume…

Chart Signals will be watching the Euro, XLF and the VIX...

SPX

Resistance: 1,315, 1,331, 1,347

Support: 1,300, 1,292, 1,277

Quoting Down – PCLN, GOOG, WYNN, MNST, AAPL, AMZN, GOLS,CELG, CF, FAS, CRM, IBM, GS, WLT, CAT, CLF, DEC, SLB, V, SOHU, VMW, FCX, X, UCO, POT, CMG, SINA, SLW, LVS, COH, ESI, SNDK, MOS, ATI, DECK, TBT, ANR, HAOL, RCL, DOW, RVBD, WDC, SWK, LNKD, CHL, C, AKS, SMH, NVDA, TSL, WFM, FSLR, IDU, SNDK, SBUX, SPLS, QCOM, TEVA, VRTX, BRCM, ORCL

Quoting Up – TLT, DLR, FAZ, ANF, INFY

SPX Pauses, NDX Moves Higher as Euro and Financials Rise...

Listen to Dave with Tom on tastytrade at the 128:15 minute mark, Click Here:  https://www.tastytrade.com/#/

Three of nine sectors moved higher on Friday neutralizing Thursday’s weakness.  XLF, XLB and XLV were the strongest sectors.


Thursday’s short-term Yellow Alert did not follow through with a break of support.  So a trader should continue to watch for a potential break below the low of the high day and the short term support area on Monday.  The intermediate term trend is still up.  Friday’s trading range was just 8 points.

Money Flow

Euro       +112 pips    1.3218

TNX         -0.33            18.98

TLT         +0.37          118.08

XLF         +0.05           14.13

SPX         -2.10       1,316.33

VIX          -0.04            18.53

RUT +0.75%

COMPQ +0.40%

NDX +0.29%

SPX -0.16%

INDU -0.58%

Money Flow was mixed as the Euro rose and TNX moved lower and bonds closed higher.   XLF rose and the SPX closed lower.  The most recent SPX breakout has a chart target of 1,428 within 12 weeks.

The lower VIX did not confirm the lower SPX on Friday.

 (click image to enlarge)

Breadth strengthened as advancers led decliners 1.85 to 1 on the NYSE and 1.83 to 1 on the NASDAQ.

Exchange        NYSE        NASDAQ

Advancers       1,927          1,600

Decliners         1,040             870

SPY moved down 6 cents on volume of 135.2 million shares.  FSLR +4.60, +11.24% completed a reversal pattern with a breakout of short term resistance as it reached its highest level since early December.  RVBD -5.47, -18.28% collapsed after positive earnings and lower guidance for Q1.

(click image to enlarge)

Earnings season continues…

Monday – BIDU

Tuesday – AMZN, BIIB, BRCM, CHRW, XOM, MTW, MAT, PCAR, STX, X

Wednesday – BMC, CMG, EA, ENTR, GMCR, JDSU, LVS, QCOM, NDAQ

Thursday – CME, DOW, MA, MCHP, PCX, RCL

 

Leading stocks > +2% on Friday INFA, SINA, TSL, KKD, UAL, SOHU, IL, LNKD, ANR, LDK, ESI, MCP, PCX, POT, CSTR, CF, SLW, CDE, GS, ANF, WLT, ZAGG, GRPN, HAL, NTES, MOS, SWN

Losing stocks < -2.0% included RVBD, CRUS, JDSU, F, JNPR, CLF, ATI, CIEN

NDX 100 stocks stronger than the NDX included FSLR, NFLX, GMCR, BIDU, STX, KLAC, RIMM, EA, EXPE and WCRX.

Stocks weaker than the NDX include SIRI, ESRX, MU, FOSL, AMAT, CHRW, CSCO, TEVA, FLEX and LIFE.

TWO NDX stocks ATVI and YHOO closed above the 30 DMA making 93 NDX stocks above their 30 DMA. 

Stocks to Watch on Monday

Holding Above 30 DMA = 70

WDC, DLR, IL, URE, CMG, DE, DOW, ENTR, FAS, SWK, UNP, F, NKE, CIEN, CRUS, SMH, SWKS, JDSU, NGLS, AKS, BAC, CF, CHL, DHR, STI, X, A, C, CAT, CLF, FCX, MOS, POT, TPX, ESI, KKD, CREE, GS, JNPR, CROX, HLF, LNKD, LVS, RCL, SLW, SOHU, TSL, CSTR, SINA, VECO, COH, MCP, ARUN, CDE, CRM, FFIV, HAL, NDAQ, SLB, INFA, NTES, NVDA, TBT, VMW, WLT, IBM, ZAGG, UAL, V, TSLA, UCO

Moving Above 30 DMA = 4

ANF, ANR, LDK, SWN

Moving Below 30 DMA = 3

ICE, RVBD, UCO

Staying Below 30 DMA

ATI, GES, SNDK, ZION, GLW, HUM, GRPN, TLT, TIF, PCX, FAZ, DECK

Sixteen Week Intermediate Term Market Trend: Up

Short Term Market Trend: Neutral

.

Futures Point to a Lower Open after GDP 2.8%, RVBD, JNPR, F Gap Down

BMO – ES -6.75 and NQ -6.25 futures are lower 30 minutes before the open in pre-market trading and point to a lower open…volume is moderate for pre-market with a more stocks quoting down than up…Financial stocks, XLF is down 10 cents on 190,100 shares in pre-market at this time…FAS is down $1.28…Q4 GDP reported at 2.8% below 3.0% estimate, highest level in 1 ½ years…

Gap Down - Negative Reactions to RVBD, JNPR and F earnings

Gap Up - INFA

TLT is down 13 cents and the Euro is up 8 pips overnight …

NDX leaders AMZN, GOOG, NFLX and PCLN are higher…AAPL is lower…PCLN and QCOM are flat…

Dave’s Insight for Friday:  Flat Euro…flat bonds… Financials lower…setting up a lower open … Follow YOUR rules for entry, exits and stops...TRADE THE TREND…

Watch for a potential move below the low of the high day on any positions and follow your rules for stop adjustment or exit…the intermediate term trend is still up and any pull back is likely to be a low volatility move…

The SPX is following the Euro lower early this morning on light volume…

Friday earnings of interest – MO, CVX, DHI, F, HON, PG

Chart Signals will be watching the Euro, XLF and the VIX...

SPX

Resistance: 1,331, 1,347, 1,356

Support: 1,315, 1,300, 1,292

Quoting Down – RVBD, CLF, FFIV, JNPR, CMG, CRM, VMW, FAS, TSLA, F, WLT, SWK, UNP, ARUN, GS, DE, CAT, SLB, X, POT, SINA, ANR, DECK, CIEN, CRUS, MOS, UCO, JDSU, LVS, FCX, SNDK, CREE, SOHU, FOSL, WCRX, BRCM, CTXS, SBUX, AAPL, FSLR, ALTR, MRVL, CSCO, NTAP

Quoting Up – INFA, HAL, IBM, CHL, FAZ, V, SIAL, VRSN, VRTX, PNRA, KLAC, BIIB, GOLD, GMCR, GOOG, STX, CTSH, BIDU, NUAN, WYNN, INFY

NFLX Gaps Up, SPX Hits Target Reverses, Potential Yellow Alert...

Eight of nine sectors moved lower on Thursday.  XLU, XLB and XLY were the strongest sectors.

Thursday is once again a potential short-term Yellow Alert exit signal.  Watch for a potential break below the low of the high day on Friday.  The intermediate term trend is still up. Thursday’s net pullback was modest although the SPX was down 15 points from its high after reaching its 1,332 price target from its January 3 horizontal breakout.

Money Flow

Euro      +00 pips    1.3106

TNX        -0.76            19.31

TLT         +1.54          116.17

XLF         -0.12            14.08

SPX         -7.63       1,318.43

VIX          +0.26            18.57

INDU -0.18%

RUT -0.34%

NDX -0.45%

COMPQ -0.46%

SPX -0.58%

Money Flow was a little atypical at the end of the day with the Euro flat after rising early and pulling back.  TNX was lower and bonds closed higher.   XLF and the SPX closed lower.  The most recent SPX breakout has a chart target of 1,428 within 12 weeks.

The VIX did confirm the SPX today.

(click image to enlarge)

SPY moved down 68 cents on volume of 184.8 million shares.  NFLX +20.97, +22.06% reached its highest level since October.  RVBD gapped lower -13.77% after the close with earnings that beat but at the same time lowered guidance for Q1.

Breadth weakened as decliners led advancers 1.03 to 1 on the NYSE and 1.21 to 1 on the NASDAQ.

Exchange        NYSE        NASDAQ

Advancers       1,474          1,137

Decliners         1,532          1,376

Thursday’s Earnings of Interest

RVBD beat lowers guidance

INFA beat

UAL beat

LCC beat

ALK miss

CAT beat raise guidance

MMM beat

CRUS meet

JNPR meat lowers guidance

ESI beat enrollment down

KLAC EPS meet revenues beat

(click image to enlarge)

Earnings season continues…

Friday – MO, CVX, DHI, F, HON, PG

Leading stocks > +2% on Thursday UAL, LDK, TSLA, ENTR, KKD, CAT, IL

Losing stocks < -2.0% included SNDK, ESI,ZION, STI, ATI, CF, SWN, PCX, X, A, SINA, GLW, GRPN, HUM, MCP, TBT, INFA, ANR, AKS, ANF

NDX 100 stocks stronger than the NDX included NFLX, FSLR, AMZN, FOSL, CHRW, VMED, LINTA, SBUX, INFY and EXPD.

Stocks weaker than the NDX include SNDK, MU, CTXS, GMCR,WCRX, APOL, LRCX, SIAL, WFM and PCAR.

Three NDX stocks COST, SNDK and VOD closed below the 30 DMA leaving 91 NDX stocks above their 30 DMA. 

Stocks to Watch on Friday

Holding Above 30 DMA = 73

WDC, DLR, IL, URE, CMG, DE, DOW, ENTR, FAS, SWK, UNP, F, NKE, CIEN, CRUS, SMH, SWKS, JDSU, NGLS, AKS, BAC, CF, CHL, DHR, STI, X, A, C, CAT, CLF, FCX, MOS, POT, TPX, ESI, RVBD, KKD, CREE, GS, JNPR, CROX, HLF, LNKD, LVS, RCL, SLW, SOHU, TSL, CSTR, SINA, VECO, COH, MCP, ARUN, CDE, CRM, FFIV, HAL, NDAQ, SLB, INFA, NTES, NVDA, TBT, VMW, WLT, IBM, ZAGG, ICE, UAL, V, TSLA, UCO

Moving Above 30 DMA = 0

Moving Below 30 DMA = 7

ANF, ANR, ATI, GES, SNDK, SWN, ZION

Staying Below 30 DMA

GLW, HUM, LDK, GRPN, TLT, TIF, PCX, FAZ, DECK

Sixteen Week Intermediate Term Market Trend: Up

Short Term Market Trend: Up

NFLX, CAT Gap Higher Following EPS, Futures Point to a Higher Open...

BMO – ES +6.00 and NQ +7.75 futures are higher 40 minutes before the open in pre-market trading and point to a higher open…volume is moderate for pre-market with a more stocks quoting up than down…Financial stocks, XLF is up 8 cents on 42,300 shares in pre-market at this time…FAS is up $1.18…reaction was positive to the Fed policy statement on Wednesday…

TLT is up 60 cents and the Euro is up 67 pips overnight …

NFLX is up $19.22 following strong earnings after the close on Wednesday…

NDX leaders AAPL, AMZN, GOOG, NFLX, PCLN and QCOM are higher…BIDU is lower…

Dave’s Insight for Thursday:  Higher Euro…bonds higher… Financials higher…setting up a higher open … Follow YOUR rules for entry, exits and stops...TRADE THE TREND…

The SPX is following the Euro higher early this morning on light volume…

Thursday earnings of interest – MMM, ALK, AMGN, T, CAT, CELG, CRUS, INFA, ESI, JNPR, KLAC, MXIM, POT, RVBD, UA, UAL, VRSN

Chart Signals will be watching the Euro to see its 30 DMA breakout continuation move, XLF and the VIX to see if it holds its down trend...

SPX

Resistance: 1,331, 1,347, 1,356

Support: 1,315, 1,300, 1,292

Quoting Down – SNDK, CSTR, CF, POT, COH, MOS, FAZ, ESI, SWK, MNST, LRCX, BIDU, VOD, CELG

Quoting Up – NFLX, CAT, FAS, CLF, DE, UCO, CRM, UAL, GS, WLT, SLB, V, RCL, TLT, FCX, X, SINA, SLW, C, CROX, ANR, HAL, VECO, MCP, WDC, CRUS, VMW, CDE, SWKS, SWN, PCX, GOOG, CTXS, GOLD, AAPL, PCAR, WFM, WYNN, NUAN, AMZN, FSLR, GMCR, LIFE, SBUX

Big Move After Euro Finds Support on its 30 DMA...NFLX Beats After Close, Gaps Higher...

Remember those SPX chart targets we keep posting, the 1,363 target when the SPX broke out in October, the 1,332 target in our Jan 13 post and the 1,428 target within 12 weeks in our Jan 18 post?  

While it is true the October breakout did not reach its price target within the estimated 12 weeks which was the end of the year, that target looks achievable in the near future.  The SPX closed within 6 points of its 1,332 chart target today.  By the end of March for the 1,428 target, just 102 more points, it doesn't seem as absurd as when we first posted it, does it?   

Did earnings and guidance from AA, INTC, IBM, MSFT, WFC, BAC, GS, LLTC, XLNX, TXN, VMW, WDC, COH and finally AAPL on Tuesday provide evidence that the institutions did have a reason to by buying last month, that they were buying because the economy was getting stronger and once again their buying was in the chart over the last six weeks?

And all you had to do was believe the charts...


I hope so and I hope you have been making money hand over fist this month because you positioned yourself in line with the Chart Signals!

All nine sectors moved higher on Wednesday.  XLU, XLB and XLE were the strongest sectors.

Money Flow

Euro        +92 pips     1.3106

TNX         -0.57            20.07

TLT         -0.28          116.17

XLF        +0.03            14.20

SPX      +11.41       1,326.06

VIX         -0.60            18.31

NDX +1.30%

COMPQ +1.14%

RUT +0.93%

SPX +0.87%

INDU +0.64%

Money Flow was a little atypical at the end of the day with the Euro higher, TNX lower and bonds closing slightly lower.   XLF slightly higher and the SPX moved higher following AAPL and other strong earnings reactions.  The SPX made its highest close since July 26.  The SPX most recent breakout has a chart target of 1,428 within 12 weeks.

The VIX did confirm the SPX today.

(click image to enlarge)

SPY moved up $1.10 on volume of 198.4 million shares, its highest daily volume of 2012.  AAPL +26.25, +6.24% reached a new all-time closing high.

Breadth strengthened as advancers led decliners 3.16 to 1 on the NYSE and 1.97 to 1 on the NASDAQ.

Exchange        NYSE        NASDAQ

Advancers       2,287          1,682

Decliners           723             851

Wednesday’s Earnings of Interest

NFLX beat

DAL beat

LRCX beat

BA beat

LCC beat

UTX EPS beat revenue miss

SWK beat

CTXS beat lowers guidance

SNDK beat lowers guidance

ADP meat

ATI miss

GLW miss

(click image to enlarge)

Earnings season continues…

Thursday – MMM, ALK, AMGN, T, CAT, CELG, CRUS, INFA, ESI, JNPR, KLAC, MXIM, POT, RVBD, UA, UAL, VRSN

Friday – MO, CVX, DHI, F, HON, PG

Leading stocks > +2% on Wednesday TPX, AKS, SLW, MCP, CDE, PCX, LNG, UAL, CF, X, FCX, ANR, WLT, RVBD, LVS, CLF, SWK, A, ESI, SWN, CAT, ANF, URE, ZAGG, SNDK, DECK, UNP, ZION, SLB, TSLA

Losing stocks < -2.0% included GLW, LDK, GRPN, JNPR

NDX 100 stocks stronger than the NDX included CA, RIMM, AAPL, LIFE, ISRG, GOLD, FOSL, BIDU, NFLX and SIAL.

Stocks weaker than the NDX include ATVI, SHLD, GOOG, NWSA, XLNX, MCHP, MU, MXIM, YHOO and DLTR.

Four NDX stocks CHRW, COST, ISRG and RIMM closed above the 30 DMA and two stocks ATVI and YHOO closed below the 30 DMA making 94 NDX stocks above their 30 DMA. 

Stocks to Watch on Thursday

Holding Above 30 DMA = 75

WDC, DLR, IL, URE, CMG, DE, DOW, ENTR, FAS, SWK, UNP, F, NKE, ATI, CIEN, CRUS, SMH, SWKS, ZION, JDSU, NGLS, AKS, BAC, CF, CHL, DHR, STI, X, A, C, CAT, CLF, FCX, MOS, POT, TPX, ESI, RVBD, SNDK, KKD, CREE, GS, JNPR, CROX, HLF, LNKD, LVS, RCL, SLW, SOHU, TSL, CSTR, SINA, VECO, COH, MCP, ARUN, CDE, CRM, FFIV, HAL, NDAQ, SLB, INFA, NTES, NVDA, TBT, VMW, WLT, IBM, ZAGG, GES, ICE, UAL, V

Moving Above 30 DMA = 5

ANF, ANR, SWN, TSLA, UCO

Moving Below 30 DMA = 2

GLW, HUM

Staying Below 30 DMA

LDK, GRPN, TLT, TIF, PCX, FAZ, DECK

Sixteen Week Intermediate Term Market Trend: Up

Short Term Market Trend: Up

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NQ Higher...ES Lower Following AAPL EPS...Fed Policy Statement Later Today...

BMO – ES -3.75 and NQ +18.25 futures are mixed 30 minutes before the open in pre-market trading and point to a mixed open…volume is moderate for pre-market with a more of stocks quoting modestly lower than up…Financial stocks, XLF is down 5 cents on 16,200 shares in pre-market at this time…FAS is down 99 cents…Fed policy statement at 12:30 pm ET and Bernanke news conference at 2:15 pm ET…

TLT is down 6 cents and the Euro is down 75 pips overnight …Political and business leaders gather in Davos, Switzerland for three days at the World Economic Forum…

AAPL is up $38 to a new all-time high in pre-market trading following blow away earnings after the close on Tuesday…

NDX leaders AAPL, AMZN, BIDU, NFLX, PCLN and QCOM are higher…GOOG is moderately lower…

Dave’s Insight for Wednesday:  Lower Euro…bonds flat… Financials lower…setting up a mixed open … Follow YOUR rules for entry, exits and stops...TRADE THE TREND…

Now that AAPL earnings are out market can see a net positive number of large companies reporting better than expected…the SPX managed just a 10 point intra-day pull back on Tuesday…the SPX is following the Euro lower early this morning on lighter volume, likely pausing before the Fed policy statement and Bernanke’s news conference later…

Wednesday earnings of interest – ATI, ADP, BA, CTXS, COP, GLW, DAL, LRCX, NFLX, SNDK, SWK, SYMC, LCC, UTX

Chart Signals will be watching the Euro to see if the 30 DMA breakout on Monday and return move test this morning holds as it did last October 18 and the VIX to see if it holds its down trend...

SPX

Resistance: 1,315, 1,331, 1,347

Support: 1,300, 1,292, 1,277

Quoting Down – ATI, GS, GLW, UCO, FAS,SINA, COH, CF, IBM, NVDA, POT, SLB, MOS, ICE, V, FCX, DE, C, HUM, X, HLF, CLF, HAL, ALTR, GOOG, AMGN, WFM, GMCR, VOD, CELG, GOLD

Quoting Up – AAPL, TPX, WLT, SNDK, SOHU, CRUS, A, CRM, SWKS, DECK, RVBD, UAL, SMH, FFIV, VMW, FAZ, CA, LIFE, NUAN, BRCM, PCLN, AVGO, QCOM, BIDU, AMZN, BMC, CTXS, CTSH, FST, WYNN, AKAM, SBUX,ESRX, GIDL, NTAP, FSLR