SPX Near Unchanged as NASDAQ Moves Lower...

DJIA - 11.11 -0.11% SP500 - 0.52 -0.05% COMPQ - 10.64 -0.48% Russell 2000 - 2.19 -0.36% Exchange NYSE NASD Advancing 1,409 1,057 Declining 1,621 1,647 Oil $79.58 -0.04 Gold $1,141.20 +1.90 SOX 321.53 -2.77 VIX 21.63 -0.78 The VIX moved down and did not confirm the move down in the SPX on Wednesday. The SOX moved down and did confirm the move up in the COMPQ. Strongest Sectors: XLF +0.81%...XLV +0.56%...XLB +0.00% Weakest Sectors: XLK -0.54%...XLI -0.53%...XLU -0.44% Two of nine sectors moved higher on Wednesday. Financials, Healthcare and Materials were stronger than the SPX -0.05%. Financial stocks stronger than XLF +0.81%: SPG, RF, BAC, KEY, STT, WFC, PNC, C and ETFs UYG and FAS. Tech stocks stronger than XLK -0.54%: SYMC, EMC, DELL, MSFT, T, VZ, ORCL, GOOG, IBM, CSCO, YHOO, ADP, TXN, AMT and AAPL. Sector Watch Up Trending: XLK, XLB, XLY, XLV, XLP, XLE Horizontal Breakout: XLF, XLI, XLU Sideways: Down Trending: Key Resistance Levels: 1,025 - 1,133 = 1,075 BO chart target - Sep 08 Low Key Support Levels 1,100 = October High 1,082 = Monday S1 level 1,075 = 875 Breakout Chart Target 1,061 = Sep 16 S1 level 1,056 = Sep 25 R1 level 1,044 = October Horizontal Old Resistance The SPX paused again on Wednesday while making a slightly higher high and higher low. The SPX pulled back to 1,102.70, one point above Monday’s S1 level before rising 8 points to close at 1,109.80. The intermediate term trend is still up and buyers stepped in near Monday’s S1 again. Bottom line…sellers at 1,110 and buyers at 1,102. The Euro rose over 100 pips but the correlation for an up day in the SPX just did not happen on Wednesday. STLD and X moved higher while FCX and FLIR paused. PCP formed a bearish engulfing pattern. Continue to take advantage of setup opportunities that meet your rules. Check out these intermediate term C Pattern breakouts: (click image to enlarge) X rose…NIHD paused…LRCX pulled back. Guidance: The intermediate term and short term trends are up as the SPX closed down 0.52. It is clear the current battle for control is between 1,101 and 1,111. Trading won’t stay in this range for too long. We continue to view the 1,025 to 1,033 area as the next price target for the SPX, however we will stay prepared for a break of support. Continue to focus on and trade setups on the charts of the stocks you watch and follow your rules. AAPL -1.04 QCOM -0.50 GOOG -0.84 BIDU -6.38 NDX 100 stocks stronger than the NDX include: PDCO, EXPE, HOLX, ATVI, STLD, CHKP, ROST, MICC, CEPH, SYMC, TEVA, SPLS, DELL, FAST, FSLR, GRMN, FLEX, MSFT, DTV, COST, BIIB, WCRX, PCAR, ESRX, CELG, AMZN, INTU and ORCL. Stocks to Watch on Thursday Leading Stocks Holding Above 30 DMA K, JW.A, DECK, AMZN, SLGN, NFLX, MCD, ICE, DLB, FAZ, RCI, ESRX, MHS, WCG, ALGT, BDX, BYI, VAR, ACN, JOYG, ATW, CTSH, HLF, SNA, AFAM, AMX, GR, SNHY, SYNA, WMT, AAPL, BLUD, CAM, DLTR, DV, GILD, HDB, ORCL, RBN, WAB, PWRD, BIDU, EZPW, PCLN, FLS, GXDX, PCP, URE, MON, USD, CPLA, CLB, MOS, TDG, UYG, X, BAP Moving Above 30 DMA = 3 BIIB, CHL, FAS Moving Below 30 DMA = 2 PPD, VPRT Staying Below 30 DMA GES, JEC, JOSB, WRC, EBAY, GMCR, JCOM, MUR, RIMM, SWN, DV, FAZ, BKC, HANS, GPRO, STRA, TRLG, AMED, FSLR, APEI, PWR, NIHD, SPWRA, ESI, GME, PETS, PSYS, NTLS, FUQI, CBST, MYGN Intermediate Term Market Trend: Up Short Term Market Trend: Up