SPX...Buyers at 50% Fib Level Create Support Bounce...

DJIA                          10,298.44  +4.92 +0.05%
SP500                         1,092.04    -3.27  -0.30%
COMPQ                       2,254.23   -7.57 -0.33%
Russell 2000                  644.25    -1.66 -0.26%

Exchange                  NYSE              NASD
Advancing                 1,425               1,198
Declining                   1,614               1,415


Oil           $76.35       -1.50
Gold   $1,234.20       -5.90
SOX        362.88       +1.49
VIX            26.91       -0.14

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

The SPX fell to its 50% Fibonacci level at 1,185 before buyers stepped in and the SPX rallied to close at 1,092. Breadth increased significantly as Advancing issues increased to 1,425 on the NYSE from 625 on Tuesday.

Both the SOX and VIX gave a non-confirmation (did not confirm) of Wednesday's modest move down.

AAPL paused while BRCM and NTRI moved higher on Wednesday.

Bull Flag pull back day 3 in these up trending stocks NFLX, AKAM, SNDK, VMW, UAUA, FFIV, ILMN, LVS, BA, CAL, CAT, CRM, HAS, HSY, NYX, SWN, TIE, UNG, UCO, BIDU, NTAP, VECO, SKX, DECK, CMG, ICE, NETL, AAP, ALK, AZO and DLR.

Three day bull flag pull backs and some hammer patterns...

Check out these Charts

(click image to enlarge)

Check out these Charts

(click image to enlarge)

Guidance:
After finding buyers at 1,085 the SPX rallied to 1,098, its 30 DMA, and then settled down to close at 1,092.

Look for a break above the high of the low day in up trending stocks on Thursday.

1,103 to 1,105 is now short term resistance.

Trade strong stocks up.
Trade weak stocks down.

The VIX fell -0.14 and closed at 26.91. Volatility stayed above the critical 25 level on Wednesday.

The short term 3 day trend is down.
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 -2.88
QCOM -0.15
GOOG -4.20
BIDU +0.51
NDX 100 stocks stronger than the NDX include: BBBY, AKAM, ALTR, LLTC, STLD, FLEX, ORLY, RIMM, CEPH, WYNN, FLIR, MICC, CELG, RYAAY and JBHT.

Stocks weaker than the NDX: ADBE, LINTA, ADSK, ISRG, MSFT, HOLX, SPLS, CHKP, IACI, PAYX, EXPE, AAPL, EBAY and STX.

Stocks to Watch on Thursday
Holding Above 30 DMA
TLT, NFLX, SNDK, CMG, VMW, TIE, DECK, HSY, DLR, SWN, UNG, UAUA, CRM, CHL, LVS, CRUS, AMX, CLF, HAS, HLF, MCD, UNP, FFIV, NTRI, GMCR, NYX, AMD, BA, CAT, DE, GR, NETL, TSL, USO, V, MA, HANS, VECO
Moving Above 30 DMA = 4
A, AIV, BUCY, SPG
Moving Below 30 DMA = 2
ICE, LXK
Staying Below 30 DMA
ACN, ATI, CAM, DHR, DOW, FCX, MHS, PCP, USD, URE, WHR, WLT, CREE, PNC, POT, WFMI, WMT, SWK, FAZ, CSTR, ESI, BYI, ZION, STI, JEC, GME, FAS, FLS, PCLN, PCP, ATW, BAC, GES, GS, X, AGU, IPI, MOS

Intermediate Term Market Trend: Neutral
Short Term Market Trend: Down