Nasdaq and RUT New High Close...Support Holds Again...

DJIA - 11.79, -0.13% SP500 - 2.56, -0.26% NASDAQ Comp. + 7.62 +0.39% Russell 2000 + 1.07, +0.19% Exchange NYSE NASD Advancing 1,342 1,468 Declining 1,634 1,215 Oil $67.23 -$1.15 Gold $939.10 -$14.40 SOX 303.25 +0.61 VIX 25.01 +0.73 The VIX moved up and did confirm the move down in the SPX on Tuesday. Strongest Sectors: XLV +0.68%...XLK +0.20%...XLP +0.12% Weakest Sectors: XLU -1.63%...XLE -1.46%...XLB -0.83% Three of nine sectors moved higher on Monday. Healthcare, Technology, Consumer Staples, Industrials and Financials were stronger than the SPX -0.26%. Financial stocks stronger than XLF -0.24%: C, PNC, BAC,AOC, WFC, ZION, SCHW and JPM. Tech stocks stronger than XLK +0.20%: GLW, DELL, MSFT, YHOO, VZ, ORCL, EMC, ADP, TXN, AMAT, CSCO, HPQ, EBAY and AMT. Sector Watch Up Trending: XLK Horizontal Breakout: XLB, XLY Sideways: XLE, XLV, XLF, XLP, XLI, XLU Down Trending: SPX Key resistance levels: 980 = Thursday’s high 1,007 = November horizontal Key support levels: 962 = 161.8% Fib extension 944 – 956 = old January/June/July resistancel 930 = horizontal 920 = horizontal end of May high 917 = 50 DMA Earnings of Interest Tuesday: MEE +5.19% after hours USNA +7.11% after hours WCG +22.90% after hours Wednesday: AFL, AEM, AKAM, CERN, ESRX, XOM, DAVE, FISV, GMR, MA, OII, STRA, V Thursday: BDX, DLB, GPRO, MET, VPRT, DIS, WYNN Friday: CVX, DRYS The SPX, DJIA and RUT all ran into resistance at Monday’s highs and found support at or above Friday’s low and stayed above Thursday’s S1 level. The SPX and DJIA formed a hanging man pattern and the RUT formed a spinning top. The Nasdaq went 7 points above Monday’s high while the Nasdaq 100 closed above 1,600 for the second time in four days and made a new high close. The SPX trading range was 13 points following Monday’s 10 point range. Buyers and sellers are fairly balanced for the third day in a row. AAPL and QCOM closed down 10 and 12 cents. GOOG sold off $4.95 and BIDU was down $5.70. Strong Nasdaq 100 stocks included CHKP, TEVA, CELG, STLD, STX, EXPE, CEPH, MRVL, AMGN, NTAP, ISRG and CTXS. Financial stocks started strong and ended mixed. Watch Friday’s low and Thursday’s S1 as short term support and Tuesday’s high as short term resistance. We continue to observe the Yellow Alert for short term traders with Monday or Tuesday being the high day in the broad indices. 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, PETS, USD, BIDU, FUQI, GMCR, HLF JOSB, AMZN, ATW, BAP, CAM, DECK, DLB, EBAY, FAS, GES, GILD, JCOM, NIHD, ORCL, PCLN, RCI, SNHY, TDG, TRLG, UYG, WRC, ESI, MOS, MUR, WCG, SNA, X, CBST, CHL, SWN, WAB, BLUD, CLB, HDB, JOYG, PCP, RIMM, URE, WMT, EZPW, GME, MON, RBN, STRA, AFAM, BIIB, CHL, CLB, FLS, JEC, PWR, VAR, VPRT, FSLR, JW.A, SPWRA, BKC, GPRO, SYNA Moving Above 30 DMA = 1 DV Moving Below 30 DMA = 2 DECK, JEC Staying Below 30 DMA GR, HANS, HDB, MCD, FAZ, APEI, NTLS, GXDX, ICE, MYGN Intermediate Term Market Trend: Neutral Short Term Market Trend: Up