SPX Forms Hammer...

DJIA 10,321.03 -53.13 -0.51%
SP500 1,102.94 -2.30 -0.21%
COMPQ 2,234.22 -1.68 -0.08%
Russell 2000 630.46 +0.03 +0.00%

Exchange NYSE NASD
Advancing 1,517 1,143
Declining 1,514 1,511

Oil $78.17 -1.83
Gold $1,107.80 +11.30
SOX 338.39 -0.88
VIX 20.10 -0.17
 Index Direction Confirmation
VIX Down No – SPX
SOX Down Yes – COMPQ

Strongest Sectors: XLY +0.16%…XLP +0.07%...XLV +0.06%
Weakest Sectors: XLK -0.28%...XLF -0.27%...XLI -0.24%

Four of nine sectors moved higher on Thursday. Consumer Discretionary, Consumer Staples, Healthcare, Energy and Utilities were stronger than the SPX -0.21%.

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
1,025 - 1,133 = 1,075 BO chart target - Sep 08 Low

Key Support Levels
1,101 = October High
1,087 = Nov 10 Channel low
1,082 = Nov 9 S1 level

Guidance:

After opening lower on Thursday, the SPX formed a hammer that did not confirm Wednesday’s bullish harami. Wait to see if Friday gives confirmation.

The SPX closed just above the 1,100 short term support level at 1,103. Friday’s high of 1,112 is short term
resistance and 1,087 is the next level of short term support.

Thursday may have been the higher low of this pull back.
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 if it continues. 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 +1.34

QCOM -0.69
GOOG -5.04
BIDU +3.40
NDX 100 stocks stronger than the NDX include ESRX, LINTA, HOLX, SRCL, IACI, ROST, LIFE, JBHT, JOYG, TEVA, ALTR, NIHD, SPLS, ILMN, COST, VRSN, SHLD, CTAS, HANS, BIDU, AAPL, NTAP, INTU, INFY, ORLY, FISV, FAST, ORCL, BBBY, URBN, XLNX, APOL, ERTS and ADSK.

Stocks to Watch on Friday
Holding Above 30 DMA
ALGT, CBST, DLB, NFLX, AMED, CHL, BA, MCD, UAUA, AGU, CAM, CREE, VPRT, WHR, WLT, BDX, CAT, GR, ICE, PCLN, PCP, SPG, SWK, UNP, USO, V, BAC, DE, DHR, ESI, URE, HANS, JEC, ZION, WMT, BYI, FAS, GES, GMCR, SNDK, TDG, USD, UYG, X
Moving Above 30 DMA = 5
DECK, FUQI, MELI, CEDC, POT
Moving Below 30 DMA = 4
BKC, VAR, GS, DOW
Staying Below 30 DMA
FLS, MHS, MOS, WAB, IPI, FCX, WFC, ATI, SYNA, TSL, AMX, FAZ, K, MYGN, MA, ACN, UNG, HLF, ATW, HDB, HEAT, SWN, PWRD, AMD, CGA, MON, WCG, GME

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