SPX, INDU and RUT New High Close...

DJIA 10,710.55 + 29.78 +0.28% SP500 1,148.46 + 2.78 +0.24% COMPQ 2,316.74 + 8.84 +0.38% Russell 2000 646.43 + 2.87 +0.45% Exchange NYSE NASD Advancing 1,732 1,574 Declining 1,300 1,113 Oil $79.35 -0.04 Gold $1,142.60 +6.20 SOX 356.96 -2.13 VIX 17.63 -0.22 The VIX moved down and did confirm the move up in the SPX on Thursday. The SOX moved down and did not confirm the move up in the COMPQ. Strongest Sectors: XLV +0.90%…XLF +0.46%...XLE +0.29% Weakest Sectors: XLB -1.22%...XLU -0.45%...XLP -0.30% Four of nine sectors moved higher on Thursday. Healthcare, Financials, Energy and Technology were stronger than the SPX +0.24%. SPX Chart Signals Target: 1,234 end of January. This is not a subjective forecast; rather it is the chart target price and time based on the mid July breakout at 950. Sector Watch Up Trending: XLK, XLB, XLY, XLV, XLP, XLE, XLI, XLU Horizontal Breakout: XLF Sideways: Down Trending: Key Resistance Levels: 1,145 = 1,133 BO chart target – Dec 31 Low 1,155 = chart target Key Support Levels 1,025 - 1,133 = 1,075 BO chart target - Sep 08 Low 1,119 = December High 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, INDU and RUT made a new closing high on Thursday, while the COMPQ closed at its second highest close of the last 52 weeks. INTC reported better than expected earnings after the close and rose in after hours trading. Materials sector was the weakest sector and semiconductors were among the weaker industries. INTC’s better than expected earnings could lift semiconductor and other technology stocks on Friday. Many stocks broke out of horizontal resistance including BIDU, WYNN, INTC JBHT, CEDC, MA, MHS Look at these Charts… (click image to enlarge) Many other stocks bounced off support including: BA, BKC, DE, GR, ICE, PCP, SPY, WFC, ZION Guidance: Look for the intermediate term up trend to continue as we move into Earnings Seaso Thursday saw many stocks breakout of resistance while others bounced off support. Watch for entry opportunities on bull flag bounces and resistance breakouts on Friday. Stay with your up trending positions. Continue to raise your stops. Stay with trends that have broken above resistance. Continue to focus on and trade setups on the charts of the stocks you watch and follow your rules. AAPL -1.22 QCOM -0.33 GOOG +2.76 BIDU +24.75 NDX 100 stocks stronger than the NDX include: BIDU, WYNN, AKAM, INTC, JBHT, ORCL, MSFT, GRMN, RIMM, RYAAY, CTXS, ADSK, YHOO, CA, CSCO, ESRX, HOLX, STX, CELG, NWSA, SBUX, XRAY, CHKP, GENZ, ISRG, INTU, AMAT, CHRW, BIIB, APOL, SYMC and GOOG. Stocks to Watch on Friday Leading Stocks Holding Above 30 DMA CREE, MA, DLB, DE, ALGT, GR, SYNA, AGU, PCP, TDG, X, UAUA, WHR, URE, USD, CBST, SNDK, AMED, WLT, CAM, GMCR, HANS, SWN, WAB, ESI, JEC, VAR, UYG, MOS, BUCY, ACN, DECK, USO, DOW, FAS, GS, BYI, IPI, CEDC, UNP, WFC, ZION, ATW, CHL, FLS, HEAT, CAT, BA, FCX, BAC, HLF, FUQI, K, MHS, PWRD, WMT, MCD, UNG, Moving Above 30 DMA = 2 BKC, ICE Moving Below 30 DMA = 7 AMD, AMX, CGA, GES, MON, POT, TSL, Staying Below 30 DMA BDX, HDB, MYGN, WCG, SPG, VPRT, GME, MELI, PCLN, FAZ,NFLX Intermediate Term Market Trend: Up Short Term Market Trend: Up