SPX New High Close...

DJIA 10,927.07 +70.44 +0.65%
SP500 1,178.10 +8.67 +0.74%
COMPQ 2,402.58 +4.62 +0.19%
Russell 2000 683.98 +5.34 +0.79%

Exchange NYSE NASD
Advancing 2,281 1,526
Declining 771 1,154

Oil $84.87 +1.11
Gold $1,125.10 +11.80
SOX 366.93 +0.36
VIX 17.47 -0.12

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

Strongest Sectors: XLE +1.77%…XLB +1.74%...XLU +1.38%
Weakest Sectors: XLK -0.17%...XLV +0.56%...XLI +0.64%

Eight of nine sectors moved higher on Thursday. Energy, Materials, Utilities, and Financials were stronger than the SPX +0.74%.

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

Key Resistance Levels
1,178 = Fib extension
1,216 = Fib extension
Key Support Levels
1,155 = 1,119 BO chart target – Dec 23
1,145 = 1,133 BO chart target – Dec 31 Low

The SPX and INDU closed at a new high close on Thursday before the three day weekend. The COMPQ and RUT closed near highs but not at new highs.

Look at these Charts

(click image to enlarge)

Stocks to Watch(click image to enlarge)

Continue to watch the setups on BBY, ADBE and QCOM following recent gaps.

Guidance:
The SPX closed at 1,178.10 a new high close. None of the potentially bearish candle patterns have followed through over the past two weeks as trading has held within a narrow trading range. Sellers have been unwilling to get aggressive at these price levels and buyers have been willing to bid their time with about two weeks before earnings season starts again.

Short term traders are still on Yellow Alert for a potential exit from the short term up trend only if price breaks support.

Continue to trade with the trend. Be mentally flexible and watch for a potential counter trend pull back if the chart breaks short term support.

The chart target is still 1,255 in approximately nine weeks after the 1,150 breakout on March 16.

The VIX fell -0.12 on Thursday and did confirm the higher SPX close on Thursday.

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

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

AAPL +0.97
QCOM +0.31
GOOG +1.68
BIDU +3.00
NDX 100 stocks stronger than the NDX include RYAAY, FWLT, NTAP, JOYG, INFY, WYNN, LINTA, NIHD, SIAL, AMGN, GENZ, STLD, DTV, VRSN, SPLS, NWSA, FAST, PCAR, TEVA, ADBE, ILMN, LIFE, ERTS, BBBY, CERN, MICC, MCHP, PCLN, QCOM, FISV, COST, XLNX, ESRX, KLAC, LLTC, INTU, ORLY, LRCX, BIDU, SRCL, LBTYA, INTC, ISRG, AAPL, GILD, AP0OL, WCRX, GOOG, SHLD, ALTR, HANS, MXIM, BIIB, DELL, CELG, PPDI, CMCSA and CHKP.

Stocks to Watch on Monday
Holding Above 30 DMA
CBST, DLB, NFLX, UAUA, BA, AGU, CREE, WHR, WLT, BDX, ICE, PCLN, PCP, GR, BUCY, UNP, CAT, SPG, V, CLF, ESI, URE, DE, UNP, V, BAC, DE, DHR, ESI, URE, HANS, JEC, WMT, GES, GMCR, TDG, FAS, UYG, X, USD, SNDK, DECK, MELI, POT, FLS, HDB, HLF, MHS, MYGN, VAR, ATI, WAB, GS, DOW, AMD, AMX, WFC, ACN, CEDC, MA, ZION, BKC, MCD, ALGT, GME, WCG, K, FCX, TSL, BYI, USO, CAM, IPI, SYNA
Moving Above 30 DMA = 2
ATW, STT
Moving Below 30 DMA = 1
MOS
Staying Below 30 DMA
CHL, HEAT, SWK, VPRT, AMED, PWRD, CGA, FUQI, SWN, FAZ, UNG, MON

Intermediate Term Market Trend: Up
Short Term Market Trend: Neutral