SPX Breaks Resistance Before Closing Slightly Lower...

(click image to enlarge)

Exchange     NYSE    NASDAQ
Advancers    1,522      1,309
Decliners      1,457     1,332

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

Leading stocks on Thursday included ESI, UCO, TSL, SKX, USO, A, HLF, CSTR, LVS, UAUA, AMX, SWK, BA, BYI, MHS, MA, ACN, GES

Losing stocks included CRUS, NFLX, MOS, VMW, VECO, NTRI, IPI, DE, SNDK, UNG, AGU, AMD, CMG, SINA, CAM, WLT, NDAQ, RVBD, NETL, PCP, BUCY, CAT, LXK, CRM, VOD, ATW, CREE, HAS, GR, X, RMBS, FDX, FCX

SPX
Resistance: 1,148, 1,170
Support: 1,130, 1,115, 1,100

The SPX broke through its 1,148 horizontal resistance level before reversing to the downside. The Financial sector XLF was the leading sector for most of the day, however its early gains turned just below break even.

Enter bullish trades with a bounce off support and a break above the high of the low day or a break out of horizontal resistance.

Advancers barely led decliners to 1.05 to 1.

Exit short term trades according to your rules with a close below the low of the high day. Look for bearish entry signals with a bounce down from resistance or a close below of the low of the high day.

The VIX rose +0.45 to 23.70, and is still below the 25 benchmark level.

The short term 3 day trend is neutral.
The three-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     - 3.62 – black candle
QCOM  +0.82– doji after gap
GOOG   -1.90 – hanging man
BIDU     -1.10 – hanging man

NDX 100 stocks stronger than the NDX include: LOGI, APOL, QCOM, CERN, HSIC, CHKP, BIIB, ERTS, PPDI, SPLS, PAYX and BRCM.

Stocks weaker than the NDX: FWLT, SYMC, CTXS, EBAY, NTAP, STX, LIFE, ROST, JBHT, LRCX, NVDA, ATVI, URBN, ORLY and ILMN.

Stocks to Watch on Friday
Holding Above 30 DMA
HLF, PCLN, RVBD, AGU, MCD, POT, FFIV, LVS, NFLX, VMW, CMG, TSL, FCX, SINA, VOD, AIV, BUCY, CAM, DE, DHR, DOW, PCP, SWK, UNP, UPS, URE, WLT, WMT, A, HAS, IPI, JEC, LXK, CAT, ICE, FLS, MHS, ATW, STI, ACN, ATI, AMX, GES, PNC, RMBS, ZION, NDAQ, UAUA, USD, VECO, MA, NETL, ESI, GME, HSY, WFMI, CHL, FDX, NTRI, AMD, TIE, V, ATI, BA, CRUS, DECK, DLR, GR, HANS, UCO, USO, WHR, AKS, TLT, BYI, CLF, SWN, CREE
Moving Above 30 DMA = 0

Moving Below 30 DMA = 3
MOS, NTES, SNDK
Staying Below 30 DMA
BAC, CRM, GMCR, SPG, GS, NYX, POT, TBT, PNC, X, FAZ, CSTR, UNG, SKX

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