SPX Inches Higher...

DJIA + 33.63, +0.36% SP500 + 3.02, +0.30% NASDAQ Comp. + 2.70, +0.13% Russell 2000 + 4.96, +0.88% Exchange NYSE NASD Advancing 1,832 1,527 Declining 1,195 1,186 Oil $71.42 -$0.16 Gold $967.50 +$10.90 SOX 307.22 +0.20 VIX 24.89 -0.67 The VIX moved down and did confirm the move up in the SPX on Tuesday. Strongest Sectors: XLF +2.02%...XLI +0.74%...XLY +0.43% Weakest Sectors: XLU -1.47%...XLV -0.36%...XLK -0.30% Five of nine sectors moved higher on Tuesday. Financials, Industrials and Consumer Discretionary were stronger than the SPX +0.30%. Financial stocks stronger than XLF +2.02%: ZION, SPG, USB, STT, RF, MET, ALL, WFC, MMC, TRV, MS, IVZ, AFL C, CB, BAC and ETFs UYG and FAS. Tech stocks stronger than XLK -0.30%: SYMC, MA, YHOO, ADBE, TXN, DELL, GOOG, T, HPQ, EMC, MSFT, INTC and IBM. Sector Watch Up Trending: XLK, XLB, XLY Horizontal Breakout: XLV Sideways: XLE, XLF, XLP, XLI, XLU Down Trending: Sector Charts... (click image to enlarge) SPX Key resistance levels: 1,007 = November horizontal 1,025 = 950 Chart target Key support levels: 996 = Thursday’s high 980 = last broken resistance now support 962 = 161.8% Fib extension 944 – 956 = old January/June/July resistance Yellow Alert Continues The SPX, Nasdaq, DJIA and RUT all barely made a new high close on Tuesday. The SPX hit a new intra-day high at 1,007.12, its horizontal resistance from November last year. The SPX again traded in a relatively narrow 10 point range. Key stocks like CAT, AA, BAC and TRV added to the strength of the broad indices. Both the VIX and SOX confirmed today’s rise. The SPX started on the down side and found buyers near Monday’s S1 level which is the first line of short term support. With the index at horizontal resistance traders must continue to focus on the potential for a bounce down or a break out of resistance. Short term traders are still on Yellow Alert. AAPL fell 88 cents and closed near its daily high. QCOM fell 66 cents. GOOG rose $1.52. BIDU fell $3.01. Strong Nasdaq 100 stocks included CTSH gap up after EPS release, RIMM, AMGN, ISRG, ADBE, CELG, FWLT and WYNN. Our real time virtual trades since July 23 in GOOG, SPY, XLB, ZION, BAC, XLF and MA from our webcasts and live Workshop last week continue to perform very well. Stocks to Watch on Wednesday Leading Stocks Holding Above 30 DMA PWRD, CPLA, ACN, PSYS, MHS, SLGN, AMED, ALGT, PPD, AMX, NFLX, BYI, CTSH, AAPL, DLTR, ESRX, PETS, USD, BIDU, FUQI, GMCR, 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, CHL, FLS, PWR, VAR, SPWRA, BKC, DV, GR, CLB, HANS, BIIB, GXDX, HDB, JEC, GME, VPRT Moving Above 30 DMA = 1 APEI Moving Below 30 DMA = 1 HLF Staying Below 30 DMA K, FSLR, GPRO, SYNA, BDX, JW.A, DECK, MCD, FAZ, NTLS, ICE, MYGN Intermediate Term Market Trend: SPX, DJIA, RUT = Neutral, Nasdaq = Up Short Term Market Trend: Up