SPX New High Close...

The SPX moved higher making a new high close as did the NDX and RUT. DJIA + 49.88, +0.53% SP500 + 7.98, +0.78% NASDAQ Comp. + 22.62, +1.11% Russell 2000 + 10.02, +1.74% Exchange NYSE NASD Advancing 2,191 1,923 Declining 843 796 Oil $71.31 +0.21 Gold $995.30 -$2.60 SOX 320.13 +3.41 VIX 24.32 -1.30 The VIX moved up and did confirm the move up in the SPX on Wednesday. The SOX confirmed the move up in the Nasdaq. Strongest Sectors: XLI +1.68%...XLF +1.53%...XLV +1.16% Weakest Sectors: XLU -0.14%...XLP -0.04%...XLE +0.23% Eight of nine sectors moved higher on Tuesday. Energy and Materials were stronger than the SPX +0.78%. Financial stocks that were down but stronger than XLF +1.53%: USB, IVZ, MS, WFC, ;PNC, SPG, AOC, BK, GS, AXP, STT, AFL and ETFs UYG and FAS. Tech stocks stronger than XLK +0.74%: EBAY, ORCL, GLW, YHOO, EMC, AMAT, CSCO, MA, GOOG, HPQ and ADBE. Sector Watch Up Trending: XLK, XLB, XLY, XLV Horizontal Breakout: XLF 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 = August 21 S1 level & August 27 support low 1,007 = Nov horizontal resistance 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 Potential Breakout Setups: AXP, BDK, CAT, WHR, HOLX, MA, TXN, SPG, BIDU, NWSA Breakout: FLS, FWLT, MRVL, XLNX, AGU Potential C Patterns: DE, AGCO, JCI, ADSK, APOL C Pattern Breakout: WYNN, AMAT, X, DOW, JOYG Flag Setups and Bounces in Progress: WLT, BAC, INTC, JEC, JCG, ZION, DD, STT, ADBE, FAST, HANS Potential Down Trend Setups: AKAM, AMZN, FSLR Guidance: The support bounce continued on Wednesday as the intermediate and short term trends continued moving up. Wednesday is the high day following four up days, short term traders want to watch for a potential break of the low of the high day. Be on Yellow Alert. Stay with the trend you are trading and short term traders be prepared for a potential pull back if it does occur. AAPL -1.79 QCOM +0.20 GOOG +5.35 BIDU +6.45 NDX 100 stocks stronger than the NDX included JNPR, WYNN, GRMN, URBN, ISRG, SBUX, FLEX, CTSH, EBAY, ILMN, LRCX, SHLD, RYAAY, KLAC, PCAR, PPDI, ORCL, MICC, EXPE, HOLX, CERN and EXPD. Stocks to Watch on Thursday Leading Stocks Holding Above 30 DMA PSYS, 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, DV, FLS, GXDX, WCG, APEI, BAP, FAS, FUQI, GME, JEC, PWR, PWRD, RCI, RIMM, WRC, UYG, BIDU, HDB, JW.A, ORCL, AMX, ATW, EZPW, GILD, HANS, MUR, MON, JOYG, X, URE, TRLG Moving Above 30 DMA = 10 CPLA, EBAY, GPRO, HLF, MHS, PPD, PSYS, SLGN, SWN, SYNA Moving Below 30 DMA = 2 MCD, MOS Staying Below 30 DMA ESI, AMED, ICE, STRA, AFAM, DECK, NFLX, ACN, VPRT, CHL, DLB, JCOM, SPWRA, AMZN, GMCR, ALGT, FSLR, FAZ Intermediate Term Market Trend: SPX, DJIA, RUT = Neutral, Nasdaq = Up Short Term Market Trend: Up