Market Rises Pre INTC Release - Rises More in After-Hours Trading...

DJIA + 27.81, +0.33% SP500 + 4.79, +0.53% NASDAQ Comp. + 6.52, +0.36% Russell 2000 + 3.21, +0.65% Exchange NYSE NASD Advancing 2,123 1,520 Declining 882 1,140 Oil $59.52 -$0.17 Gold $922.80 +0.30 SOX 269.61 +4.32 VIX 25.02 -1.29 The VIX moved down and did confirm the move up in the SPX on Tuesday. Today was the lowest close in the VIX since September 11, 2008. Strongest Sectors: XLY +1.56%...XLI +1.46%...XLE +1.35% Weakest Sectors: XLF -0.42%...XLK +0.11%...XLP +0.30% Eight of nine sectors moved higher on Tuesday. Consumer Discretionary, Industrials, Energy, Utilities and Materials were stronger than SPX +0.53%. Financial stocks stronger than XLF -0.42%: AFL, TROW, SPG, PRU, BK, NTRS, RF, SCHW, AOC, GS, JPM, MS, AXP and MET. Tech stocks stronger than XLK +0.11%: GLW, SYMC, INTC, EBAY, AMAT, TXN, YHOO, ADP, CSCO, QCOM, AMT and MA. Sector Watch Up Trending: Horizontal Breakout: XLB, XLK, XLY Sideways: XLE, XLV, XLF, XLP, XLI, XLU Down Trending: SPX Key resistance levels: 911 = 50 DMA 920 = horizontal end of May high 930 = horizontal 944 – 956 = January/June horizontal 962 = 161.8% Fib extension Key support levels: 878 = 200 DMA 870 -875 = horizontal The PPI report +1.8% was worse than the forecast of 0.8%. Retail Sales in June came in at +0.6% above the 0.5% forecast. The mixed economic news followed better than expected earnings from GS Monday evening. The SPX pulled back slightly during morning but stayed well above Monday’s S1 level before closing higher at the end of the day. Retail related stocks like TRLG, GES, JOSB, SHLD, URBN and ARO did move higher on the better than expected report. After the market closed INTC reported earnings with its strongest first to second quarter growth since 1988. INTC also saw a stronger second half of the year including a forecast of Q3 revenue of $8.5 billion plus or minus $400 million. The stock rose 7%+ in after-hours trading fueling a rise during after-hours trading in other key stocks in like AAPL +$2.23 and MSFT+$0.65, SPY also rose $0.84 or +0.93% more than the 50 cent rise during trading hours. We’ll watch if the gains hold overnight on Wednesday morning. Key Earnings and Economic Releases Wednesday: AMR, XLNX CPI, Industrial Production Thursday: BAX, GE, GOOG, IBM, JPM Jobless Claims Friday: BAC, C Housing Starts Stocks to Watch on Wednesday Leading Stocks Holding Above 30 DMA PWRD, K, CPLA, ACN, PSYS, MHS, SLGN, AMED, ALGT, PPD, AMX, NFLX, BYI, CTSH, AAPL, BDX, DLTR, ESRX, ORCL, PETS, USD Moving Above 30 DMA = 7 BIDU, FUQI, GMCR, GR, HLF JOSB, VPRT Moving Below 30 DMA = 0 Staying Below 30 DMA FAZ, STRA, BKC, GILD, APEI, DECK, DV, NTLS, HDB, SYNA, CBST, CHL, ESI, GES, GXDX, ICE, JCOM, JW.A, PCLN, PETS, TDG, WCG, WRC, JOYG, MCD, TRLG, AMZN, MYGN, PWR, X, BAP, GPRO, JEC, NIHD, SNHY, UYG, BLUD, RBN, AFAM, ATW, BIIB, FLS, VAR, PCP, SWN, MUR, RIMM, SPWRA, CAM, CLB, MOS, EBAY, FAS, MON, RCI, SNA, URE, EZPW, WAB, FSLR, WMT, DLB, HANS, GME Intermediate Term Market Trend: Neutral Short Term Market Trend: Up