INTC Better than Expected EPS...Raises Q1 Guidance...

The SPX opened mixed and finished mixed closing down -2.20 at 1,283.76 on Thursday.  SPX short term breakout price target 1,294.

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Breadth weakened on Thursday as decliners led advancers 1.19 to 1 on the NYSE and 1.27 to 1 on the NASDAQ…

Exchange       NYSE          NASDAQ

Advancers      1,368              1,147

Decliners        1,633              1,462

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Index  Chg.   Close   Direction     Confirmation

VIX    +0.15     16.39    Up                Yes – SPX

SOX   -0.19    439.82    Down           Yes – COMPQ

Leading stocks > 1% on Thursday included CMG, SINA, SKX, RVBD, PCP, ARUN, DE, GES, HSY, CAKE, CRM, ESI, DLR, PCX, CRUS, DECK, MOS 

Losing stocks < -1% included MCP, CREE, LXK, VECO, FCX, FLS, LDK, LVS, UNG, WHR, V, STI, X, PNC, TBT, AMD, UCO, BAC, HOLX, MCD, TLS, CLF, AGU

Positives – NDX, EURO, AAPL, AMZN, NFLX, PCLN, price stayed above S1

Negatives – Weaker advancers/decliners, $TNX down

Interest rates moved lower on Thursday and bonds moved higher.  The Euro rose 231 pips to 1.3362 at 5 pm ET.

INTC reported EPS of 59 cents vs. 53 cents consensus estimate and revenues of $11.46 B vs. $11.37 estimate and raised Q1 revenue guidance.  2010 best year ever and expect 2011 to be even better.  INTC is a bellwether stock and results and guidance give a view of macro-strength of the economy and technology sector.

CSTR lowered guidance after the close and dropped over $13 in after-hours trading.

Earnings

Fri - JPM

SPX

Resistance: 1,281, 1,300

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

The short term 3 day trend is up.
The six-month trend is up.
The twelve-month trend is up.

Trade with the trend of the chart you are trading.

Bullish entry signal is a bounce off support and a break above the high of the low day or a break out of horizontal resistance.

Bearish entry signal is a break of short term support or a bounce down from the 30 DMA or other resistance.

 

AAPL +1.26 – spinning top

AMZN -0.26 – white candle

NFLX +2.59 – white candle breakout after MACD bullish divergence

QCOM -0.47 – spinning top

GOOG +0.18 – doji

BIDU +0.32 – shooting star

NDX 100 stocks stronger than the NDX include WFMI, ILMN, VRTX, MU, AKAM, MRVL,KLAC, EXPE, ESRX, MXIM, NFLX, ADSK, APOL, FSLR and PCLN.

Stocks weaker than the NDX: INFY, SHLD, VMED, PCAR, NWSA, NIHD, DELL, SYMC, MSFT, CELG, LINTA, ISRG, SPLS, SIAL and ADP.

Stocks to Watch on Friday
Holding Above 30 DMA
SINA, WLT, NDAQ, USD, GR, RVBD, CAT, FWLT, PCX, CLF, VMW, SNDK, CRUS, HOLX, FCX, A, AMD, DHR, DOW, FLS, PNC, DE, FAS, JEC, STI, SWK, ZION, ACN, BAC, NYX, IPI, MCP, ATI, CF, GS, URE, AGU, MOS, POT, UNP, BA, SWN, UNG, ARUN, NETL, LVS, VECO, CRM, TBT, TSL, DLR, GMCR, HANS, HUM, HLF, HSY, UAL, LDK, MHS, NTES, UCO, CAM, CHL, SLB, SOHU, TIE, ATW, ESI, FDX, SKX

Moving Above 30 DMA = 2

CMG, PCP

Moving Below 30 DMA = 4

CREE, LXK, WHR, X

Staying Below 30 DMA
AKS, BYI, INFA, AIV, DECK, GME, ICE, SPG, GES, TLT, HAS, CAKE, MA, V, CSTR, MCD, FAZ

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