SPX Moves Higher...PCLN Leads Nasdaq...

DJIA             10,680.43  +44.05  +0.41%
SP500             1,127.24   +6.78  +0.61%
COMPQ          2,303.57  +20.05  +0.88%
Russell 2000      662.96   +7.30  +1.11%

Exchange     NYSE   NASD
Advancing    2,259     1,760
Declining        789        887

Oil            $82.47  -0.08
Gold    $1,193.70  +8.50
SOX         354.71  +3.46
VIX            22.21   -0.42

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

Leading stocks on Wednesday included PCLN, MOS, POT, CLF, AGU, LXK, GES, NFLX, VMW, CRUS, ATW, GME, LVS, ICE, HAS, IPI, HLF, SNDK, CHL, CRM,WLT, SWN, FLW, X, MA, SKX, GS, DHR, USD, A, NTRI, FFIV, SPG, GMCR, FCX

On Wednesday the SPX rallied from Tuesday pull back and made a new high close just above Monday’s high. A majority of stocks also rallied from Tuesday’s pull back and gave a return move bounce entry while others gave a horizontal breakout entry signal.  PCLN gapped up and closed up $50.63, a horizontal break out to a new 10 year high after reporting better than expected earnings.

Horizontal breakout entry signals on Wednesday: CRM, LXK, PCLN, PCP, VMW, GME, ICE

Horizontal breakout Setup for Thursday: CAT, FAS, STI, FCX, WLT, URE, AIV, AMX

Bounce entry on Wednesday: CRUS, VECO, GES, SPG, SNDK, FLS

Trends continued in POT, MOS, AGU, LVS, CLF, FFIV, UCO, X, ATW, USO, CSTR, GS

Bounce Setup: DECK, ATI, NYX, BYI, A, ZION, USD, WHR, AKS, CREE, JEC, BAC, PNC, UAUA, CAL

Guidance:
Stay with the trend.
Buy when you are supposed to buy and sell when you are supposed to sell.

SPX
Resistance: 1,130, 1,141
Support: 1,115, 1,100, 1,086

Enter strong stocks up with a bounce off support (old resistance) or breakout of resistance. Stay with stocks in a bounce continuation.

Wait for a break of the low of the high day for bearish entries.

The VIX fell -0.42 and closed at 22.63; continues well below the important 25 level confirming the current up trend since July 7.

The short term 3 day trend is up.
The two-month trend is neutral.  Watch for potential horizontal breakout.
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 +1.05 – doji
QCOM -0.03 – doji
GOOG +16.49 – large white candle horizontal breakout with high volume
BIDU +1.81 – whit candle in trend continuation
NDX 100 stocks stronger than the NDX include: PCLN, ERTS, EXPE, NVDA, AMZN, FSLR, EXPD, LINTA, GOOG, STLD, HOLX, VRTX, CTXS, ILMN and JBHT.

Stocks weaker than the NDX: RIMM, ESRX, MSFT, DELL, FLEX, WCRX, TEVA, GENZ, GRMN, ORLY MICC, MCHP, RYAAY, HANS and LBTYA.

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


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