DJIA 10,396.76 -9.22 -0.09%
SP500 1,118.79 +0.48 +0.04%
COMPQ 2,280.68 -0.11 -0.00%
Russell 2000 649.26 +0.95 +0.15%


Exchange NYSE NASD
Advancing 1,648 1,427
Declining 1,376 1,253

Oil $80.87 +1.19
Gold $1,139.00 +2.10
SOX 349.39 -3.02
VIX 18.83 -0.23

Index Direction Confirmation
VIX Down Yes – SPX
SOX Down Yes – COMPQ

Strongest Sectors: XLB +0.87%…XLE +0.44%...XLY +0.29%
Weakest Sectors: XLV -0.41%...XLU -0.17%...XLP +0.04%

Seven of nine sectors moved higher on Wednesday. Materials, Energy, Consumer Discretionary, Industrials,
Financials and Technology were stronger than the SPX +0.04%.

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

Key Resistance Levels:
1,119 = December High
1,125 - 1,133 = 1,075 BO chart target - Sep 08 Low

Key Support Levels
1,105 - 1,113 = November High
1,101 = October High

Guidance:

Upward momentum slowed down for the second straight day as the SPX reached a new intra-day high of 1,125.64 before sellers appeared around mid-day driving the SPX down 6 ½ points to a 1,118.79 close.

This may simply be the pause that refreshes but with two shooting stars in a row short term traders need to be mindful of a potential pull back. Wednesday is the new high day. Continue to watch for a potential break of the low of the high day on Thursday.

On the other hand traders may simply be bidding time (the pause that refreshes) until the Jobless Claims report on Thursday morning and the Unemployment Report on Friday morning before the open.

The short term 3-week trend is up.
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, trade with the trend and follow your rules.

With a breakout on Monday, intermediate term stops can be moved under last Thursday’s low.

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

AAPL +0.48
QCOM +0.76
GOOG +4.26
BIDU -1.86

NDX 100 stocks stronger than the NDX include JOYG, PCAR, NIHD, GRMN, AKAM, APOL, ILMN, FWLT, QCOM, DISH, SIAL, MICC, ATVI, STLD, CTXS, PAYX, PPDI, CMCSA, CSCO, URBN, CTAS, LOGI, GOOG, FLEX, SYMC, NTAP, FAST, ADSK, ERTS, ISRG, VRSN, FSLR, ROST, VRTX, FISV, ESRX, AMZN, INTU, ADBE and AAPL.

Stocks to Watch on Thursday
Holding Above 30 DMA
ALGT, CBST, DLB, NFLX, AMED, BA, 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, WMT, FAS, GES, GMCR, SNDK, TDG, USD, UYG, X, DECK, FUQI, MELI, POT, FLS, HDB, HLF, MHS, MYGN, VAR, CGA, IPI, FCX, ATI, BKC, MOS, WAB, GS, DOW, AMD, AMX, WFC
Moving Above 30 DMA = 4
ATW, BYI, HEAT, TSL
Moving Below 30 DMA = 5
CHL, CEDC, MCD, SYNA, ZION
Staying Below 30 DMA
PWRD, FAZ, K, MA, ACN, UNG, SWN, MON, WCG, GME

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