SPX Makes New High Close at 1,030.98...

DJIA + 37.11, +0.39% SP500 + 2.86, +0.28% NASDAQ Comp. + 3.30, +0.16% Russell 2000 - 0.25, -0.04% Exchange NYSE NASD Advancing 1,616 1,290 Declining 1,376 1,383 Oil $72.49 +$1.06 Gold $945.50 +$1.20 SOX 303.76 +0.77 VIX 24.68 -0.27 The VIX moved down and did confirm the move up in the SPX on Thursday. For the fourth day in a row the SPX and VIX were near unchanged. The SOX confirmed the move up in the Nasdaq. Strongest Sectors: XLF +1.03%...XLI +0.91%...XLB +0.70% Weakest Sectors: XLE -0.31%...XLV -0.03%...XLU +0.00% Five of nine sectors moved higher on Thursday. Financials, Industrials and Materials were stronger than the SPX +0.28%. Financial stocks stronger than XLF +1.03: C, KEY, AXP, IVZ, BK, RF, MS and ETFs UYG and FAS. Tech stocks stronger than XLK +0.20%: DELL, EMC, AAPL, HPQ, EBAY MSFT, SYMC, TXN and INTC. Sector Watch Up Trending: XLK, XLB, XLY Horizontal Breakout: XLV Sideways: XLE, XLF, XLP, XLI, XLU Down Trending: SPX Key resistance levels: 1,025 = 950 Breakout Chart target 1,044 = October horizontal 1,075 = 875 Breakout Chart target Key support levels: 1,017 = Friday’s S1 level 1,007 = Nov horizontal resistance 992 - 996 = recent support low 980 = last broken resistance now support 962 = July 23 S1, 30 DMA, 38.2% Fib extension 944 – 956 = old January/June/July resistance The SPX opened and moved lower to trade at Friday’s S1 level at 1,016. The range expanded to 17 points as the SPX rallied to reach 1,033.33 before closing at 1,030.98, its highest daily close this year. Several stocks like BA, PCP and GES had big move days from the open. Continue to watch Friday’s S1 level at 1,017 and S2 level at 1,009 as important short term support levels and the 1,035 area as resistance. DJIA volume rose 10 million shares to 164 million shares on Thursday. Guidance: The intermediate term trend is still up and the SPX reached a new high close. The SPX is showing four spinning tops in a row all of which are staying above Friday’s S1 level and continues to look like a horizontal bull flag. Advancing and declining issues were fairly balanced today, continuing to indicate that this is not an aggressive sell off yet. Short term traders saw another intra-day break below the low of the high day on Thursday, and again rallied and failed to close below the low. Stay with trades that continue to move in the direction of the trend. 1,025 is still the key trading level. As always follow your rules. Many of our Flag and Breakout Setups formed hammers or spinning top patterns on Thursday. Flag Setups and Bounces in Progress: BDK, JEC, WLT, JCI, WYNN, GRMN, AGCO, SPG, JOYG, X, DOW Breakout in Progress: AXP, BAC, JCG, HOLX Breakout Setup: WHR Breakout Setups that pulled back on Wednesday: DE, FWLT, FLS, AGU, MA, DD, CAT, FLS, STT, ZION AAPL +2.04 QCOM -0.28 GOOG -1.94 BIDU -3.62 NDX 100 stocks stronger than the NDX included STX, DELL, NTAP, CMCSA, COST, JNPR, GENZ, LOGI, VRTX, MRVL, HOLX, STLD, INFY, APOL, CTSH, GRMN, LLTC, AAPL, FLIR, CTSX and SIAL. Stocks to Watch on Friday Leading Stocks Holding Above 30 DMA PWRD, CPLA, PSYS, MHS, AMED, AMX, BYI, CTSH, AAPL, PETS, USD, FUQI, JOSB, BAP, CAM, EBAY, FAS, PCLN, SNHY, TDG, UYG, WRC, ESI, WCG, SNA, X, CBST, WAB, BLUD, CLB, JOYG, PCP, URE, WMT, EZPW, RBN, FLS, VAR, BKC, DV, GR, CLB, HANS, JEC, BIIB, GES, HDB, ORCL, STRA, MON, MUR, ESRX, GPRO, GXDX, JW.A, BDX, DLTR, SLGN, NTLS, MCD, TRLG, APEI, MYGN Moving Above 30 DMA = 2 AFAM, DECK Moving Below 30 DMA = 6 ATW, BIDU, ICE, K, PWR, NIHD Staying Below 30 DMA HLF, MOS, NFLX, RIMM SWN, CAN, RCI, VPRT, CHL, DLB, GME, JCOM, SPWRA, AMZN, GMCR, PPD, ALGT, GILD, FSLR, SYNA, FAZ Intermediate Term Market Trend: SPX, DJIA, RUT = Neutral, Nasdaq = Up Short Term Market Trend: Neutral