Wednesday's Post is Coming...

The SPX was down slightly, bonds rose, gold and gold stocks soared, oil was unchanged, the Euro rose as the Dollar fell...a pretty interesting combination to say the least... DJIA - 29.93, -0.32% SP500 - 3.29, -0.33% NASDAQ Comp. - 1.82, -0.09% Russell 2000 - 2.33, -0.40% Exchange NYSE NASD Advancing 1,164 1,285 Declining 1,837 1,405 Oil $68.05 +0.00 Gold $976.60 +$21.90 SOX 297.40 -1.24 VIX 28.90 -0.25 The VIX moved down and did NOT confirm the move down in the SPX on Wednesday. The SOX confirmed the move down in the Nasdaq. Strongest Sectors: XLB +0.93%...XLV +0.21%...XLK +0.20% Weakest Sectors: XLF -0.86%...XLE -0.74%...XLU -0.69% Four of nine sectors moved higher on Wednesday. Materials, Healthcare, Technology and Consumer Staples were stronger than the SPX -0.33%. Financials and Material sectors were weaker. Financial stocks that were down but stronger than XLF -0.86%: AFL, IVZ, NTRS, PRU, C, MET, AOC, MMC, CB, AXP, SCHW, TRV, STT, ALL, WFC, CME, BK, TROW and ICE. Tech stocks stronger than XLK +0.20%: CSCO, GLW, DELL, HPQ, SYMC, YHOO and AMAT. Sector Watch Up Trending: XLK, XLB, XLY Horizontal Breakout: XLV Sideways: XLE, XLF, XLP, XLI, XLU Down Trending: SPX Key resistance levels: 1,007 = Nov horizontal resistance 1,017 = August 21 S1 level 1,025 = 950 Breakout Chart target 1,044 = October horizontal 1,075 = 875 Breakout Chart target Key support levels: 992 - 996 = Early August Support Low 980 = July 23 Resistance - August 17 Support 962 = July 23 S1, 30 DMA, 38.2% Fib extension 944 – 956 = old January/June/July resistance The SPX traded in a narrow 8 point range compared with 32 points on Tuesday. Volume decreased as the DJIA volume dropped 92 million shares to 175 million shares. AAPL, GOOG, INTC, MSFT, QCOM and RIMM trading volume also dropped. The SPX held in the 995 area of support and formed a doji on Wednesday. Advancing issues more than doubled on both the NYSE and NASDAQ. Gold shot up $21.90 and gold stocks soared: GDX +9.51%, AEM +10.83%, GG +10.05%, GOLD +10.76% and NEM +9.26%. Guidance: The intermediate term trend is still up and short term trend is down. If support breaks look for the SPX to fall to the next support level at 980. If a support bounce occurs, look for resistance at Tuesday’s R1 level of 1,009 and then the 1,017 – 1,020 area. Failure to break the R1 level would form a lower high. Our two virtual trade orders on BDK and WHR from Monday’s night Advanced Technical webcast did NOT trigger their buy stops. Potential Down Trend Setups: CAT, ADBE, ADSK, AKAM, AMAT, AMZN, APOL, BIDU, FAST, FSLR, HANS, NWSA Potential Lower Highs: STT, DE, SPG, X, AGCO, DOW, JCI, JOYG, WYNN Flag Setups and Bounces in Progress: FLS, FWLT, WLT, AXP, BAC, BDK, HOLX, INTC, JEC, JCG, MA, MRVL, TXN, XLNX, ZION, CAT, DD, AGU Breakout in Progress: WHR AAPL -0.11 QCOM +0.07 GOOG -2.75 BIDU +6.10 NDX 100 stocks stronger than the NDX included FSLR, ERTS, ATVI, BIDU, CSCO, LIFE, AKAM, ESRX, JNPR,NVDA, APOL, DELL, NTAP, WCRX, CERN, FLIR and INFY. Stocks to Watch on Thursday Leading Stocks Holding Above 30 DMA PSYS, MHS, AMED, BYI, CTSH, AAPL, PETS, USD, JOSB, CAM, EBAY, PCLN, SNHY, TDG, SNA, CBST, WAB, BLUD, CLB, PCP, WMT, RBN, VAR, BKC, GR, CLB, BIIB, GES, HDB, ESRX, BDX, DLTR, NTLS, MYGN, ICE, NIHD, K Moving Above 30 DMA = 5 DV, FLS, GXDX, PSYS, WCG Moving Below 30 DMA = 7 ESI, EZPQ, FAS, JEC, MCD, ORCL, UYG Staying Below 30 DMA AMX, APEI, BAP, GME, HANS, HDB, ICE, JW.A, RCI, WRC, MON, EBAY, X, URE, PWRD, FUQI, CPLA, MUR, PWR, STRA, TRLG, AFAM, DECK, GPRO, JOYG, SLGN, ATW, BIDU, HLF, MOS, NFLX, RIMM, SWN, CAN, VPRT, CHL, DLB, JCOM, SPWRA, AMZN, GMCR, PPD, ALGT, GILD, FSLR, SYNA, FAZ Intermediate Term Market Trend: SPX, DJIA, RUT = Neutral, Nasdaq = Up Short Term Market Trend: Down