SPX Holds Above Short Term Support, Again...

DJIA - 26.00, -0.29% SP500 - 4.47, -0.46% NASDAQ Comp. - 7.75, -0.39% Russell 2000 - 3.57, -0.65% Exchange NYSE NASD Advancing 1,082 1,020 Declining 1,860 1,641 Oil $63.35 -$3.88 Gold $927.20 -$11.90 SOX 300.65 -2.60 VIX 25.61 +0.60 The VIX moved up and did confirm the move down in the SPX on Wednesday. Strongest Sectors: XLP +0.53%...XLf +0.00%...XLP -0.07% Weakest Sectors: XLE -2.31%...XLB -2.10%...XLY -0.52% Seven of nine sectors moved lower on Wednesday. Consumer Staples, Financials, Industrials Healthcare and Technology were stronger than the SPX -0.46%. Financial stocks stronger than XLF +0.00%: C, MMC, AOC, ICE, STT, BK, BAC, NTRS, CME, TROW, AXP and CB. Tech stocks stronger than XLK -0.10%: VZ, AMAT, T, ADP, MSFT, MA, HPQ, EMC, SYMC, INTC, AAPL and IBM. 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 Post Earnings MEE +6.82% USNA +4.86% WCG +14.17%% Earnings of Interest Wednesday: AKAM -11.27% after hours CERN -4.04% after hours ESRX +1.81% after hours DAVE +2.34% after hours FISV -3.85% after hours GMR -6.04% after hours Thursday: BDX, DLB, GPRO, MET, VPRT, DIS, WYNN Friday: CVX, DRYS The SPX, COMPQ, DJIA and RUT all found support near Tuesday’s low. All four indices rallied from their low and formed a hanging man candle. The SPX, DJIA and RUT confirmed Tuesday’s hanging man but failed to break support. The SPX trading range was 9 points continuing this week’s narrow daily range. Buyers and sellers were again fairly balanced for the fourth day in a row. AAPL rose 3 cents and QCOM closed down 11 cents. GOOG sold off $3.61 and BIDU was down $6.60. Strong Nasdaq 100 stocks included LIFE, APOL, TEVA, FISV, PPDI, LOGI, AMAT, ADP and CHKP. 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 with Monday or Tuesday being the high day in the broad indices. Stocks to Watch on Thursday 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, 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, MON, RBN, STRA, AFAM, BIIB, CHL, FLS, PWR, VAR, FSLR, SPWRA, BKC, GPRO, SYNA, DV Moving Above 30 DMA = 1 GR Moving Below 30 DMA = 4 CLB, GME, JW.A, VPRT Staying Below 30 DMA DECK, JEC, HANS, HDB, MCD, FAZ, APEI, NTLS, GXDX, ICE, MYGN Intermediate Term Market Trend: Neutral Short Term Market Trend: Up