COMPQ, NDX New High Close...SPX, INDU and RUT Pause...

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The SPX closed down -2.71 or -0.21% at 1,273.85.  The SPX reached 1,278 intraday just 3 points below its 1,281 December breakout price target.

(click image to enlarge)

SPX spinning top potential bearish harami

INDU spinning top potential bearish harami inside day

COMPQ spinning top new high close

RUT spinning top

Breadth weakened on Thursday as decliners led advancers 1.55 to 1 on the NYSE and 1.27 to 1 on the NASDAQ…

Exchange       NYSE          NASDAQ

Advancers      1,177              1,162

Decliners        1,831              1,479

(click image to enlarge)

Index Direction     Confirmation

VIX      Up                  Yes – SPX

SOX    Up                  Yes – COMPQ

Leading stocks > 1% on Thursday included TSL, POT, NETL, TIE, HUM, HANS, SOHU, VECO, RVBD, HSY, SINA, CMG, PCX, BA, DOW, F, USD, LXK, CRUS, DISH, UAL,V , GMCR, DLR, FWLT, ARUN, SWN, FAZ, MHS

Losing stocks < -1% included FAZ, GME, UNG, TLT, MCP, JEC, LDK, NDAQ

Four of the big seven NDX stocks BIDU, GOOG, PCLN and QCOM closed higher while AAPL, AMZN and NFLX moved lower.

  

Interest rates moved lower on Thursday and bonds closed slightly higher.  The Euro fell 153 pips to 1.2999 at 5 pm ET. 

The SOX rose +7.68, making a new high close at 424.77 on Thursday and the VIX moved down +0.38 and closed at 17.40.

Three of nine sectors moved higher on Thursday with Technology XLF +0.58% and Healthcare XLV +0.41% leading all sectors. 

Moves on Thursday

Continuation – POT, CRUS, F, GOOG, XLF, C, WYNN, VMW, X, DOW, GS, WFC, BAC, GR, WLT, BYI, CF, FAS, NUE, STLD, A, V,  

Resistance Breakout – PNC, NETL, ILMN, AMZN

Bull Flag Bounce –USD, UNP, CAT

MACD Divergence Bounce –

Support Bounce – FFIV, JASO

Bear Flag Break – SPG, TLT

Break of Support – GES, AZO, ICE, GME, ATW, WFMI

Setup Charts to Watch

Bull Flag Setups – SNDK, ATI, STI, NYX, CLF, SWK, AMD, DHR, JEC, ZION, NDAQ, AGU, URE, FLS, FCX, AIV, SLB, IPI, DECK, WHR

Horizontal Breakout – LVS, DE, MOS, TSL, HSY, SINA, NTAP, AKS, UNG, X,  TBT

MACD Divergence – CMG, CREE, CAKE, NFLX, CSTR, AKAM, BIDU, LDK

Bear Flag Setups –ACN, SKX

Continue to trade with the trend of the chart you are trading.

SPX

Resistance: 1,281, 1,300

Support: 1,256, 1, 241, 1,220

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.

Enter bearish trades on a break of short term support or a bounce down from the 30 DMA.

 

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

AAPL -0.27 – spinning top

AMZN -1.56 – spinning top, potential bearish harami

NFLX -1.74 – spinning top at support and MACD bullish divergence

QCOM +0.64 – white candle new high close

GOOG +4.43 – potential shooting star

BIDU +0.53 – spinning top and MACD bullish divergence

NDX 100 stocks stronger than the NDX include NVDA, MRVL, MYL, MSFT, DELL, TEVA, FSLR, ESRX, BRCM, ROST, XLNX, ILMN, CTRP, CTXS and MXIM.

Stocks weaker than the NDX: CHKP, ORLY, SHLD, MAT, WFMI, ISRG, GRMN, VRTX, DLTR, EXPE, SBUX, FAST, SPLS, JOYG and EBAY.

Stocks to Watch on Friday
Holding Above 30 DMA
SINA, WLT, NDAQ, USD, GR, RVBD, BYI, CAT, X, FWLT, PCX, CLF, INFA, VMW, SNDK, CRUS, HOLX, FCX, FDX, AKS, A, AMD, DHR, DOW, FLS, PNC, UCO, DE, FAS, JEC, STI, SWK, WHR, ZION, ACN, BAC, NYX, ESI, IPI, MCP, ATI, CF, AIV, GS, URE, AGU, MOS, POT, UNP, BA, SWN, UNG, ARUN, NETL, LVS, VECO, CRM, PCP, TBT, TSL
Moving Above 30 DMA = 8

DLR, GMCR, HANS, HUM, HLF, HSY, TIE, UAL

Moving Below 30 DMA = 6

CHL, CREE, DECK, GME, ICE, SLB

Staying Below 30 DMA
CAM, LDK, SPG, ATW, GES, TLT, HAS, MHS, CAKE, MA, SKX, V, CSTR, CMG, SOHU, MCD, FAZ, NTES, LXK

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