SPX Adds a Point in Narrow Range Trading...Closes at 1,117...

DJIA                          10,450.64  +16.47 +0.16%
SP500                         1,117.51   +1.47 +0.13%
COMPQ                       2,309.80   +2.64 +0.11%
Russell 2000                  666.92   +1.07 +0.16%

Exchange                  NYSE              NASD
Advancing                 1,691              1,446
Declining                   1,350              1,230

Oil           $77.18       +0.39
Gold   $1,257.20       +9.70
SOX        3771.21      -1.18
VIX            23.95       -1.10

Index  Direction      Confirmation
VIX      Down            Yes – SPX
SOX    Down             No – COMPQ

After a strong trend day on Tuesday the SPX traded in a narrow trading range Wednesday, Thursday and Friday. Friday's SPX range was just 7 points. The SPX did make a higher high and higher low and a new high close on Friday.  The weekly chart clearly shows a breakout of the three week bottom. The VIX closed below 25 which as we have been saying for weeks is the confirmation of the up trend.

Look at these Charts

(click image to enlarge)

Stay with the trend on leading stocks like AKAM, CRUS, ALK, SNDK, DECK, CMG, FFIV, SKX, NFLX, HSY, DLR, CRM, TIE, VMW, ILMN, AAPL , BIDU, UAUA, CAL, AZO, LVS and UNG.

Look at reversal breakout stocks that may be ready to run with the leaders like GMCR, VECO, CREE, NETL, NYX, BA and CAT.

Look at these Charts

(click image to enlarge)

Guidance:

Another successful test of Tuesday's breakout found buyers at the 1,113 area as the SPX made a higher high and a higher low on Friday while making a new high close. We look for the up trend to continue higher with three weeks to go until the July earnings season starts.

1,170 in 4 weeks in the new SPX chart target.

Short term support is at 1,103 the S1 level of Tuesday's large white candle.

Trade strong stocks with the re-emerging up trend.
The VIX fell -1.10 and closed at 23.95.

The short term 3 day trend is up.
The six-month trend is neutral.
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 of the chart and follow your rules.

AAPL +2.20
QCOM -0.02
GOOG -0.05
BIDU +1.61
NDX 100 stocks stronger than the NDX include: VRTX, WCRX, GENZ, ISRG, ADSK, BIDU, BBBY, BIIB, CEPH, CSCO, KLAC, ADBE, MICC, ATVI and HSIC.

Stocks weaker than the NDX: LINTA, RYAAY, SHLD, NIHD, TEVA, LRCX, RIMM, ESRX, NTAP, PAYX, STX, MXIM, DELL, PCLN and NWSA

Stocks to Watch on Monday
Holding Above 30 DMA
TLT, NFLX, SNDK, CMG, VMW, TIE, AZO, DECK, HSY, SWN, UNG, UAUA, CRM, MHS, CHL, LVS, AIV, AMX, ATI, CLF, HAS, HLF, ICE, MCD, SPG, UNP, LXK, NTRI, GMCR, URE, WFMI, AMD, BA, CAM, CAT, CREE, DE, DHR, DOW, GR, POT, TSL, USD, USO, V, WHR, MA, HANS
Moving Above 30 DMA = 3
ACN, WMT, PNC
Moving Below 30 DMA = 0

Staying Below 30 DMA
BUCY, WLT, SWK, FAZ, CSTR, ESI, BYI, ZION, STI, JEC, GME, HANS, FAS, FLS, PCLN, PCP, ATW, BAC, GES, GS, FCX, X, AGU, IPI, MOS

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