Up Trend Continues...

DJIA + 216.48, +2.79% SP500 + 23.30, +2.87% NASDAQ Comp. + 51.03, +3.29% Russell 2000 + 21.03, +4.90% Exchange NYSE NASD Advancing 3,275 2,204 Declining 550 590 Oil $52.64 +$4.25 Gold $907.40 -$18.70 SOX 243.88 +10.01 VIX 42.04 -0.57 The VIX moved down and did confirm the move up in the SPX on Wednesday. Strongest Sectors: XLY +5.50%...XLI +5.36%...XLI +4.11% Weakest Sectors: XLV +0.41%...XLU +1.29%...XLP +2.10% Strong financial stocks that gained more than 2.76% included: SPG, PRU, AFL, IVZ, ZION, TROW, ICE, WFC, PNC, MET, ALL, USB, AXP, STT, GS, CME and ETF’s FAS and UYG. Leading tech stocks that gained more than 2.62% included: GLW, AMAT, ADBE, AMT, SYMC, INTC, QCOM, VZ, CSCO, EMC, AAPL, EBAY, MA, IBM and ADP. Sector Watch Up Trending: Sideways: XLE, XLY, XLV, XLK, XLB Down Trending: XLF, XLP, XLI, XLU Stocks rose again on Thursday as buying was broad across all sectors. After Wednesday's large number of bullish engulfing patterns, many stocks broke through horizontal resistance or moved to horizontal resistance. The SPX rose beyond its recent high and pulled back going into the close. If today's horizontal breakout of the SPX holds the measuring technique indicates a price target of 886.. Horizontal resistance is in the 875 area. (click image to enlarge) After the close on Thursday, RIMM reported better than expected earnings as the stock jumped over 10 points in after hours trading. Index Commentary The DJIA formed a white candle that closed above its March 26 high horizontal resistance…closed above 20, 30 and 50 DMA The SPX formed a white candle that closed above its March 26 high horizontal resistance…closed above 20, 30 and 50 DMA At the Open on Friday SPY – bullish engulfing SNDA – rose to price target mid-range DECK – doji CTSH – at horizontal resistance WYNN – horizontal breakout SCHN – horizontal breakout FCX – shooting star OSG – shooting star X – at horizontal resistance BRCM – horizontal breakout FAS – at horizontal resistance EBAY – spinning top TNA – at horizontal resistance URE – confirmed bullish harami SNDA Options Gain 146% We sold half of the 10 May 40 call contracts on SNDA today at 5.30 for a gain of 3.15 or 146%. SNDA had reached 44 the mid-point of our 43 to 45 price target establishedMonday night. We closed half the position after SNDA began to pull bac. We moved the stop to 40.89 on the last 5 contracts. (click image to enlarge) Stocks to Watch on Friday Leading Stocks: Holding Above 30 DMA BIDU, CLB, BKC, NFLX, DLTR, HANS, ICE, ALGT, DLB, JEC, PWR, VPRT, AMZN, MON, USD, AAPL, CTSH, FLS, JOYG, APEI, AXYS, BAP, CAM, GMCR, GPRO, JCOM, JOSB, MUR, PETS, WMT, ATW, GR, BIIB, SLGN, SWN, SYNA, SNHY, EBAY, GES, SNA, ORCL, WRC, DECK, HDB, PCP, UYG, BLUD, FSLR, GME, ESI, WCG, RIMM, X, BDX, BYI, CBST, EZPW, HLF, MYGN, STRA, MCD, AMX, MHS, WAB, NIHD, FAS, AFAM, CHL, JW.A, K, MOS, NTLS, RBN, RCI Moving Above 30 DMA = 6 CPLA, ESRX, GXDX, PCLN, VAR, SPWRA Moving Below 30 DMA = 0 Staying Below 30 DMA GILD, DV, ACN, PPD, PSYS, TDG, AMED, PCR Intermediate Term Market Trend: Neutral – SPX, Nasdaq, RUT Down – DJIA Short Term Market Trend: Neutral