SPX Regains Most of Tuesday's Losses...

DJIA 10,374.16 +91.75 +0.89%
SP500 1,105.24 +10.64 +0.97%
COMPQ 2,235.90 +22.46 +1.01%
Russell 2000 630.43 +5.36 +0.86%

 Exchange NYSE NASD
Advancing 2,224 1,665
Declining 827 999

Oil $80.00 +1.14
Gold $1,096.50 -6.10
SOX 332.27 +6.40
VIX 20.27 -1.10

Index Direction Confirmation

VIX Down Yes – SPX
SOX Up Yes – COMPQ

Strongest Sectors: XLF +1.74%…XLY +1.30%...XLI +1.02%
Weakest Sectors: XLB -0.08%...XLU +0.03%...XLE +0.35%

Eight of nine sectors moved higher on Wednesday. Financials, Consumer Discretionary, Industrials and Technology were stronger than the SPX +0.97%.

Sector Watch
Up Trending: XLK, XLY, XLV, XLI
Horizontal Breakout:
Sideways: XLF, XLE, XLU, XLP, XLB
Down Trending:

Key Resistance Levels:
1,105 - 1,113 = November High
1,119 = December High

Key Support Levels
1,101 = October High
1,087 = Nov 10 Channel low
1,082 = Nov 9 S1 level
1,075 = 875 Breakout Chart Target

Guidance:

Wednesday formed an inside day and a bullish harami on the SPX and on many other charts. Confirmation is a close above the inside day or body of the bullish harami. Wednesday formed a lower high so confirmation is important here.

The SPX closed just above the 1,100 short term support level at 1,105. Friday’s high of 1,112 is short term resistance and 1,087 is the next level of short term support.

Without confirmation still look for a potential pull back to a higher low.

The short term trend is neutral.
The four-month trend is sideways.
The twelve-month trend is up.

Continue to focus on and trade setups on the charts of the stocks you watch and follow your rules.

Trade the counter trend down. Stay alert to the potential of this counter trend move being a bull flag pull back.

Adjust your stops according to your rules for up and down trending trades.

AAPL +3.59
QCOM -0.50
GOOG -3.60
BIDU +3.77

NDX 100 stocks stronger than the NDX include ADSK, ALTR, ADBE, XLNX, BRCM, MXIM, RIMM, LINTA, HOLX, ADP, BRTX, ROST, NWSA, PCAR, JBHT, LLTC, AMAT, AMZN, NVDA, CERN, CTSH, CA, CTAS, SHLD, AAPL, ORLY, BBBY, SBUX, CMCSA, LRCX, INFY, JOYG, EBAY, PPDI, SRCL, LIFE, INTC, MCHP, ATVI,LBTYA, PDCO, YHOO, DELL, FISV, MICC, GENZ, ERTS, FLEX, APOL and INTU.

Stocks to Watch on Thursday
Holding Above 30 DMA
ALGT, CBST, DLB, NFLX, AMED, CHL, BA, MCD, UAUA, AGU, BKC, CAM, CREE, VPRT, WHR, WLT, BDX, CAT, GR, ICE, PCLN, PCP, SPG, SWK, UNP, USO, V, BAC, DE, DHR, ESI, URE, DOW, HANS, JEC, ZION, WMT, BYI
Moving Above 30 DMA = 10
FAS, GES, GMCR, GS, SNDK, TDG, USD, UYG, VAR, X
Moving Below 30 DMA = 0

Staying Below 30 DMA
FLS, MHS, MOS, WAB, MELI, IPI, CEDC, POT, FCX, WFC, ATI, DECK, SYNA, TSL, AMX, FAZ, K, MYGN, MA, ACN, UNG, HLF, ATW, HDB, HEAT, FUQI, SWN, PWRD, AMD, CGA, MON, WCG, GME

Intermediate Term Market Trend: Neutral = 4 months, Up = 11 month
Short Term Market Trend: Neutral