Stocks Move Higher on Late Day Rally...

DJIA + 70.49, +0.89% SP500 + 8.37, +0.99% NASDAQ Comp. + 6.09, +0.37% Russell 2000 - 4.09, -0.87% Exchange NYSE NASD Advancing 2,221 1,046 Declining 1,478 1,665 Oil $48.85 +$0.00 Gold $906.20 +$14.10 SOX 249.36 -1.72 VIX 37.15 -0.95 The VIX moved down and did confirm the move up in the SPX on Thursday. Strongest Sectors: XLF +4.70%...XLE +1.87%...XLI +1.10% Weakest Sectors: XLP +0.00%...XLY +0.00%...XLV +0.08% Three of nine Sectors, Financials, Energy and Industrials outperformed the SPX. Financial stocks returned to their winning ways as XLF, +4.70% led all sectors. Stocks stronger than XLF +4.70% include WFC, CME, MET, STT, AXP, PNC, BAC, NTRAS, TROW, SPG, PRU and ETF’s UYG and FAS. The Tech Sector XLK was up +0.48%. Leading tech stocks stronger than XLK +0.48%: EBAY, AAPL, MA, GLW, ORCL, QCOM, ADBE, CSCO, DELL, MSFT and YHOO. Sector Watch Up Trending: Sideways: XLE, XLY, XLV, XLK, XLB Down Trending: XLF, XLP, XLI, XLU I'm sitting in the Atlanta Airport with a flight departure of 9:30 pm...It is now 10:30 pm...A lightning and hail storm caused a delay...lightning struck the FAA congtrol tower and knocked out the radar so no planes could land or take off...our flight crew was on a plane in Jacksonville and could not take off because it would be unable to land in Atlanta...the radar is now repaired so the flight from Jacksonville is now on its way and looks like I'll get out tonight...I've posted our At the Open list since I had extra time...this is the first time I've seen a control tower struck by lightning...sounds kind of like the market, eh? The broad indices SPX, DJIA, Nasdaq and RUT had a roller coaster day in a relatively tight trading range as they moved lower after the open, started rising at mid-day, only to move lower with less than two hours to go and then rallied during the last half hour into the close, finishing modestly higher. The RUT closed down for the day. The SOX also closed slightly lower on Thursday. Index Commentary The DJIA formed a hammer like candle…volume was below average at 327 million shares…closed above its 20, 30 and 50 DMA. The SPX formed a hammer like candle…closed above its 20, 30 and 50 DMA. The Nasdaq formed a dragonfly doji…closed above its 20, 30 and 50 DMA. The RUT formed a black hammer like candle…closed above its 20, 30 and 50 DMA Look at these stocks with support bounce potential from our At the Open List: (click image to enlarge) At the Open on Friday SPY – hammer DECK – spinning top SNDA – hammer EBAY – horizontal resistance breakout…rose to 200 DMA SCHN – spinning top GME – spinning top at 200 DMA SHLD – spinning top, inside day at 200 DMA ADS – dragonfly doji 30 DMA bounce in bull flag STT – white candle higher close AG – doji in bull flag breakout XRT –black spinning top inside day USD – hammer support bounce at 30 DMA URE – white candle higher close WYNN – horizontal resistance breakout…three white soldiers like LEAP – black candle at 50% Fibonacci retracement level ISRG – doji inside day after short term up trend Stocks to Watch on Friday Leading Stocks Holding Above 30 DMA BIDU, CLB, NFLX, DLTR, ICE, ALGT, DLB, JEC, PWR, VPRT, AMZN, USD, AAPL, CTSH, AXYS, BAP, CAM, GMCR, JCOM, JOSB, ATW, GR, SYNA, EBAY, GES, SNA, ORCL, WRC, DECK, HDB, PCP, UYG, FSLR, GME, WCG, RIMM, X, BYI, CBST, EZPW, HLF, AMX, MHS, WAB, FAS, AFAM, CHL, JW.A, K, RBN, ESRX, PCLN, URE, VAR, PCR, PPD, HANS, SWN, CPLA, FLS, SNHY, SPWRA, JOYG, GILD, GXDX, TDG Moving Above 30 DMA = 4 MCD, NIHD, RCI, STRA Moving Below 30 DMA = 4 AMED, BDX, GPRO, PETS Staying Below 30 DMA CBST, MYGN, DV, MUR, SLGN, TDG, BIIB, MOS, NTLS, MON, WMT, GILD, BKC, APEI, BLUD, ESI, GXDX, ACN, PSYS Intermediate Term Market Trend: Neutral Short Term Market Trend: Neutral