SPX New 52-Heek High Close...

DJIA + 50.79 +0.49% SP500 + 3.97 +0.36% COMPQ + 15.01 +0.67% Russell 2000 + 5.00 +0.81% Exchange NYSE NASD Advancing 1,897 1,601 Declining 1,131 1,105 Oil $74.60 +0.88 - Feb contract Gold $1,086.00 -9.40 SOX 354.72 +2.07 VIX 19.54 -0.95 The VIX moved down and did confirm the move up in the SPX on Tuesday. The SOX moved up and did confirm the move up in the COMPQ. Strongest Sectors: XLK +0.80%…XLP +0.68%...XLB +0.59% Weakest Sectors: XLU -0.83%...XLY -0.17%...XLI +0.11% Seven of nine sectors moved higher on Tuesday. Technology, Consumer Staples, Materials, Energy and Healthcare were stronger than the SPX +0.36%. Sector Watch Up Trending: XLK, XLB, XLY, XLV, XLP, XLE Horizontal Breakout: XLF, XLI, XLU Sideways: Down Trending: Key Resistance Levels: 1,119 = December High 1,025 - 1,133 = 1,075 BO chart target - Sep 08 Low Key Support Levels 1,105 - 1,113 = November High 1,101 = October High 1,087 = Nov 10 Channel low 1,082 = Nov 9 S1 level 1,075 = 875 Breakout Chart Target The SPX closed at 1,118.02 a new 52-week closing high. The COMPQ closed at 2,252.67 also a new 52-week high close. The SOX closed at a new high and the RUT closed just below its 52-week high. Guidance: XLF, closed 3 cents higher giving support for the broader market by not offsetting gains in other sectors. Continue to watch XLF on Wednesday for the key to whether the SPX can break out of resistance or pull back once again. The SPX is inching higher but not clearly breaking the horizontal resistance of the past six weeks. If the SPX breaks out look for a move to the 1,025 to 1,033 area. Volume drifted lower in many major ETFs and stocks on Tuesday. Expect the trend to continue on Wednesday. Thursday is a half trading day. Light volume can also create extra volatility as the traders that are around are sometimes able to push the market up or down with less resistance. Advancing issues led declining issues on both the NYSE and NASD. Tech stocks AAPL, CREE GOOG, PCLN, AMZN, CERN, NVDA, CTXS and QCOM moved higher. Stay with trends that have broken above resistance and watch for potential pull backs in stocks that are below recent highs. Continue to focus on and trade setups on the charts of the stocks you watch and follow your rules. AAPL +2.13 QCOM +0.43 GOOG +2.44 BIDU -8.57 NDX 100 stocks stronger than the NDX include: HOLX, CERN, FLIR, BBBY, FLEX, RYAAY, ILMN, NVDA, SBUX, BIIB, ISRG, TEVA, LBTYA, WCRX, CTXS, SPLS, VRTX, LLTC, EXPE, SHLD, MICC, JOYG, PDCO, ERTS, CTSH, HSIC, AAPL, XRAY, ALTR, ESRX, MXIM, MSFT, AKAM, PPDI, QCOM, HANS, AMGN and STX. Check out these Support Bounce Charts: (click image to enlarge) Stocks to Watch on Wednesday Leading Stocks Holding Above 30 DMA JW.A, AMZN, SLGN, DLB, WCG, ALGT, BDX, ACN, TSL, AFAM, GR, SNHY, SYNA, HDB, MELI, PCLN, PCP, MON, TDG, X, BIIB, NTLS, PETS, NIHD, VPRT, URE, BLUD, GES, GPRO, USD, BKC, CBST, SNA, FSLR, CPLA, MYGN, RIMM, AMED, CLB, DV, ORCL, GXDX, HANS, PPD, SWN, MHS, CTSH, WAB, ESI, ESRX, JEC, MOS, TRLG, UYG, VAR Moving Above 30 DMA = 6 AAPL, JOSB, PSYS, RBN, JOYG, FAS Moving Below 30 DMA = 0 Staying Below 30 DMA DLTR, FAZ, CGA, BAP, HLF, ICE, SLGN, MCD, IPI, AMX, K, WMT BIDU, DECK, GILD, RCI, BYI, JCOM, EBAY, NFLX, PWRD, GME, CHL, FLS, ATW, CAM, FUQI Intermediate Term Market Trend: Up Short Term Market Trend: Neutral