SPX Closes Higher on Support Bounce Continuation...

The SPX formed a white candle in a support bounce continuation closing up +7.34 at 1,327.22 on Monday. Through Monday the SPX has regained 66% of its 50 point drop last week. The INDU was the strongest index followed by the SPX, RUT and COMPQ was just barely positive on Monday.


SPX white candle, bull flag bounce
INDU white candle, bull flag bounce
COMPQ black spinning top, higher high and higher low
RUT black spinning top, higher high and higher low


Breadth weakened on Monday and remained positive as advancers led decliners 2.09 to 1 on the NYSE and turned negative by two stocks 1.00 to 1 on the NASDAQ …


Exchange     NYSE     NASDAQ
Advancers     2,048       1,338
Decliners           976       1,340


Index     Chg.     Close     Direction     Confirmation
VIX        -0.87       18.35       Down           Yes – SPX
SOX      -5.07     458.62       Down           No – COMPQ


Leading stocks > +2% on Monday included SLW, URE, HUM, AIV, SPG, POT, DOW, GLW


Losing stocks < -2.0% included LDK, TSL, CRM, CSTR, MA, HANS, VMW, V, STI


Positives – INDU, SPX, VIX, Euro, NYSE breadth, AAPL, QCOM, GOOG


Negatives – TNX, AMZN, NFLX, PCLN, NASDAQ breadth weakened, sectors weakened


Did you follow your rules today or did you let the trader's shake you out?

Dave is teaching an AT Workshop in Phoenix on Tuesday...
SPX
Resistance: 1,330, 1,338
Support: 1,321, 1,311, 1,300

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 +5.05 – white candle support bounce continuation in bull flag
AMZN -3.95 – black spinning top gap down bear flag
NFLX -5.77 – black candle at earnings gap support
QCOM +0.56 – white candle at horizontal breakout, new high close
GOOG +3.36 – white spinning top at horizontal support
BIDU +0.57 – black spinning top support bounce continuation

NDX 100 stocks stronger than the NDX include DELL, VRTX, JOYG, AMAT, URBN, GRMN, CMCSA, SPLS, XRAY, PAYX, COST, SIAL, SBUX, AAPL and ESRX.

Stocks weaker than the NDX include FSLR, AKAM, LINTA, NIDH, MRVL, NFLX, MU, CTRP, AMZN, BRCM, ISRG, NVDA, ERTS, VRSN and ALTR.

Stocks to Watch on Tuesday
Holding Above 30 DMA
NDAQ, VLO, CLF, JDSU, CRUS, GLW, NYX, URE, DISH, DLR, HUM, NTES, CAM, SLB, SPG, CAT, NETL, SOHU, ATW, SWK, ICE, JNPR, AMD, DHR, V, ARUN, CIEN, CMG, HSY, DECK, GMCR, GES, RVBD, SLW, ESI, HLF, TLT, ATI, MOS, SMH, SWKS, VECO, AGU, AIV, BA, FAS, HANS, IPI, POT, SWN, TIF
Moving Above 30 DMA = 5
AKS, CF, DOW, HAS, UNP
Moving Below 30 DMA = 9
ACN, CRM, CSTR, LDK, MA, MCP, SNDK, STI, TSL
Staying Below 30 DMA
FAZ, TIE, A, BAC, DE, FDX, FWLT, GS, JEC, LVS, LXK, MHS, NVDA, PCP, PNC, TBT, UAL, X, PCX, SINA, SKX, WLT, ZION, VMW, UNG, WHR, F, LCC, CHL, FCX, CREE, GME, UCO

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

Futures Point to a Highe Open and Support Bounce Continuation...

BMO – ES +5.50 and NQ +10.00 futures are higher about 40 minutes before the open in pre-market trading and point to a higher open…

(click image to enlarge)

TLT is down 3 cents and the Euro is up 90 pips in premarket trading and is near a potential breakout of horizontal resistance made on February 1 …

NDX leaders AAPL, BIDU, GOOG, NFLX and PCLN are higher in pre-market trading…AMZN is lower…

Dave’s Insight for Monday: Continue to re-enter according to your rules.  Enjoy the support bounce continuation in the direction of the trend. 

(click image to enlarge)

Flag Bounce Continuation – PCLN, NTES, RVBD, OPEN, LDK, SWKS, JNPR, GLW, SOHU, ICE, IL, NIHD

Flag Bounce – CRM, NDAQ, VLO, ATI, URE, DISH, DLR, HANS, CAM, NETL, ATW, SWK, CIEN, SMH, AAPL, BIDU, CMG, ARMH, CRUS, FFIV

Breakout – HLF, VRTX

Setups

Bull Flag – AKS, CLF, JDSU, NYX, TSL, HUM, SLB, TIE, MA, SPG, STI, CAT, XL, NFLX, AMZN, LULU, GMCR

(click image to enlarge)

Breakout – IL, LDK, JNPR, DISH, DTV, CAM, PCLN, SLW, CHK, NTES

SPX

Resistance: 1,321, 1,330, 1,338

Support: 1,311, 1,300, 1,281

Quoting Down – FSLR, AMZN, SHLD, ICE, ATI, UNP, FAZ, UCO, CAM, GES, HAS, STX, GILD

Quoting Up – AAPL, JOYG, POT, GOOG, BIDU, FFIV, MICC, WYNN, CTXS, NFLX, HUM, SINA, MOS, CLF, VMW, DE, FDX, CAT, SWKS, WLT, SNDK, FCX, AGU, RVBD, SWN, WHR, A, SLW, X, VECO, IPI, TSL, MCP, FAS, UAL, JDSU, VLO, DOWN, NVDA, V, LVS, LDK, CRUS, GLW, PCLN, CTSH, MYL, RIMM, AKAM, EBAY, VOD

SOX, RUT, NDX Lead Market Higher in Classic Bull Flag Support Bounce...

A strong support bounce in stocks confirmed the SPX, INDU, COMPQ and NDX hammer patterns and the RUT and SOX bullish harami patterns that formed on Thursday...The SPX formed a large white candle, closing up +13.78 at 1,319.88 on Friday.  This was the first day of a bull flag support bounce following its three day pullback.  Buyers had stepped in just above the 78% Fibonacci support level from the January 28 low on Thursday forming a hammer doji.

SPX large white candle, bull flag support bounce

INDU small bullish engulfing confirms Thursday’s hammer in bull flag

COMPQ gap large white candle, confirms bullish harami in bull flag

RUT large white candle confirms bullish harami, closes above 10 DMA

Breadth strengthened significantly on Friday as advancers led decliners 4.27 to 1 on the NYSE and 4.00 to 1 on the NASDAQ …

Exchange       NYSE          NASDAQ

Advancers      2,460             2,120

Decliners          575                530

Index              Chg.    Close    Direction      Confirmation

VIX                 -2.10      19.22     Down            Yes – SPX

SOX             +11.79    463.69     Up                 Yes – COMPQ

Leading stocks > +2% on Friday included HANS, VLO, SLW, NETL, CF, SINA, CRUS, FAS, AIV, CIEN, URE, DISH, IPI, SLB, CAM, UNG, MCP, ATW, CRM, SWN, MOS, UCO, AGU, DLR, SWKS, STI, A, ICE, F, SNDK, PCX, DOW, RVBD, LVS, BA, SMH, ATI, MHS, AMD, NVDA, CLF, GES

Losing stocks < -2.0% included TSL, FAZ, CSTR, LDK

The rally on Friday had a strong structure with the SOX +2.61%, RUT +2.21%, NDX +1.43%, SPX +1.06% and the INDU +0.51%.  Growth indices led and mature indices followed.  The sectors were led by XLE, XLB and XLF and the defensive sectors XLV, XLU and XLP lagged in an ideal sector structure for a bull flag support bounce in an intermediate and long term up trend.

ADSK gained +2.32, +5.74% following a positive reaction to earnings after the close on Thursday.  CRM gained +4.51, +3.36% after gapping up and closing lower following positive reaction to Q4 EPS after the close on Thursday.

PCLN -2.31, -0.50% paused after rising $36.35 on Thursday after reporting Q4 EPS that beat estimates Wednesday after the close.

Positives – SOX, RUT, COMPQ, NDX, SPX, VIX, AAPL, BIDU, QCOM, breadth and sectors strengthened significantly

Negatives – TNX, Bonds, Euro, AMZN, NFLX

Interest rates closed lower on Friday and bond ETF TLT was up 54 cents.  The Euro fell 52 pips to 1.3745 at 5 pm ET.

All nine sectors rose on Thursday with Energy XLE +1.59% and Materials XLB +1.48% leading all sectors.

Flag Bounce Continuation – PCLN, NTES, RVBD, OPEN, LDK, SWKS, JNPR, GLW, SOHU, ICE, IL, NIHD

Flag Bounce – CRM, NDAQ, VLO, ATI, URE, DISH, DLR, HANS, CAM, NETL, ATW, SWK, CIEN, SMH, AAPL, BIDU, CMG, ARMH, CRUS, FFIV

Breakout – HLF, VRTX

Setups

Bull Flag – AKS, CLF, JDSU, NYX, TSL, HUM, SLB, TIE, MA, SPG, STI, CAT, XL, NFLX, AMZN, LULU, GMCR

Breakout – IL, LDK, JNPR, DISH, DTV, CAM, PCLN, SLW, CHK

SPX

Resistance: 1,321, 1,330, 1,338

Support: 1,311, 1,300, 1,281

The short term 3 day trend is neutral.
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 +5.28 – white candle confirm hammer, bull flag bounce

AMZN -0.51 – black candle, does not confirm bullish harami

NFLX -2.74– black spinning top, does not confirm bullish harami

QCOM +1.22 – white candle rise to resistance, bull flag bounce

GOOG +1.22 – inverted hammer in pull back

BIDU +1.78 – doji, confirms bullish harami, bull flag support bounce

NDX 100 stocks stronger than the NDX include ADSK, MRVL, MU, ALTR, LRCX, CTXS, ADBE, MXIM, NWSA, CERN, NTAP, ATVI, VRTX, BRCM and INTC.

Stocks weaker than the NDX include FSLR, NFLX, MSFT, EXPE, EXPD, PCLN, AKAM, DLTR, AMZN and GENZ.

Stocks to Watch on Monday

Holding Above 30 DMA
NDAQ, VLO, CLF, JDSU, CRUS, GLW, NYX, ATI, URE, DISH, TSL, DLR, HUM, LDK, NTES, CAM,  SLB, TIE, MA, SPG, NETL, CAT, SOHU, ATW, SWK, ICE, JNPR, AMD, DHR, V, ARUN, CIEN, CMG, HSY, DECK, GMCR, GES, RVBD, SLW, ESI, CSTR, HLF, TLT, ATI, MOS, SMH, SWKS, VECO

Moving Above 30 DMA = 14

ACN, AGU, AIV, BA, CRM, FAS, HANS, IPI, MCP, POT, SNDK, STI, SWN, TIF

Moving Below 30 DMA = 2

AKS, FAZ

Staying Below 30 DMA

DOW, GS, HAS, A, BAC, DE, FDX, FWLT, JEC, LVS, LXK, MHS, NVDA, PCP, PNC, SINA, TBT, UAL, UNP, X, CF, PCX, SINA, SKX, WLT, ZION, VMW, UCO, UNG, WHR, F, LCC, CHL, FCX, CREE, GME

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

2011 the Best Year Ever!

Week 8 is done.  Just 44 weeks left to go as we move towards our objective to make 2011our best year ever.  How did you do?

Are you finding this weekly reminder redundant and tedious?  If so, the focus is probably one factors you may have been missing last year.  The saying goes the challenge is in the details.  Well this is detail work and every business has it.

                 

So once again evaluate your trades for the week.  Did you buy, hold and sell where you were supposed to according to your rules? 

Be honest, did you get out of some short term trades either last Friday or Tuesday according to your rules?

If so, did you re-enter on Thursday or Friday or did you delay?

Give yourself an A+ or 10 for each trade that you did follow your rules.

How is your portfolio doing YTD compared with the following indexes?  If you outperformed the SOX give yourself an A+, the INDU, NDX or SPX give yourself an A.

 

                        Week 8              YTD

SPX                 -1.72%               4.95%

NDX                -1.93%               5.79%

SOX                -1.65%             12.60%

INDU               -2.10%               4.78%

Take your annual goal that you sent in to Chart Signals and divide that goal by 52 weeks and multiply by 8.  How does your week 8 results compare to your goal?  If you are at the goal or higher give yourself and A+.

 

Futures Point to a Higher Open...POT Gains on 3 for 1 Split, CRM Gaps Up...

BMO – ES +7.00 and NQ +18.00 futures are higher about 15 minutes before the open in pre-market trading and point to a higher open…

TLT is up 8 cents and the Euro is down 54 pips in premarket trading and is near horizontal resistance …

POT is up following a 3 to 1 split…CRM +12.43, +9.25% is gapping up following earnings after the close on Thursday…

NDX leaders AAPL, AMZN, BIDU, GOOG and PCLN are higher in pre-market trading…NFLX is lower…

Dave’s Insight for Friday: Continue to re-enter according to your rules.  Enjoy the support bounce in the direction of the trend.  Today ends week eight and time to evaluate your trading progress after the close.

SPX

Resistance: 1,321, 1,330, 1,338

Support: 1,311, 1,300, 1,281

Quoting Down – FSLR, NFLX, CHRW, LRCX, IPI, DLR, FAZ, HLF, NETL, CSTR, JEC, ARUN, NDAQ, ESRX, KLAC, ILMN, HSIC, FISV

Quoting Up – POT, CRM, DECK, CMG, FFIV, PCLN, GOOG, AAPL, WYNN, ADSK, BIDU, JOYG, MICC, AMZN, BA, PCP, MA, DE, SINA, CF, WLT, CLF, VMW, AGU, MOS, SWKS, ATI, FCX, SLB, SOHU, RVBD, CAT, X, MHS, HANS, NTES, UCO, SLW, FAS, FDX, JDSU, CREE, SNDK, DOW, CRUS, NVDA, PCX, STI, MCP, V, JNPR, LDK, UAL, VLO, GS, SMH, AKS, LXK, CAM, VRTX, RIMM, BRCM, NTAP, ADBE, AKAM, EXPD, ALTR, CEPH, QCOM

COMPQ and RUT Move Higher, SPX, INDU Form Hammers as Breadth Turns Positive...

The SPX formed a hammer-like doji, down -1.30 at 1,306.10 on Thursday.  This was the third day of a bull flag pullback with buyers stepping in just above the 78% Fibonacci support level from the January 28 low.

SPX hammer-like doji, bull flag

INDU black hammer, bull flag

COMPQ hammer, bullish harami, bull flag

RUT bullish harami, bull flag

Breadth strengthened on Thursday and turned positive as advancers led decliners 1.14 to 1 on the NYSE and 1.50 to 1 on the NASDAQ …

Exchange       NYSE          NASDAQ

Advancers      1,593             1,601

Decliners        1,396             1,063

Index              Chg.    Close    Direction      Confirmation

VIX                  -0.84      21.32     Down            No – SPX

SOX               +7.63    451.90     Up                 Yes – COMPQ

Leading stocks > +2% on Thursday included RVBD, AMD, NTES, UAL, LDK, VECO, TSL, SWKS, JNPR, ESI, CIEN, IPI, HSY, JDSU, SOHU, SINA, DECK, SKX, CRUS, CSTR, NVDA, SWK, VMW, ATI, GMCR

Losing stocks < -2.0% included SLW, UCO, SLB, VLO, STI, HANS

CRM +11.00, +8.19% rose in after hours trading following a positive reaction following Q4 EPS.

The COMPQ and RUT rose while the INDU and SPX pulled back, momentum, sectors and breadth all improved. AAPL, AMZN, BIDU, NFLX and PCLN moved higher and GOOG closed lower.

PCLN +36.35, +8.53% rose in after hours trading, after reporting Q4 EPS that beat estimates Wednesday after the close.

Positives – COMPQ, RUT, VIX, AAPL, AMZN, BIDU, NFLX, PCLN, Euro, breadth and sectors strengthened

Negatives – SPX, INDU, TNX

Interest rates closed lower on Thursday and bond ETF TLT was up 58 cents.  The Euro rose 50 pips to 1.3797 at 5 pm ET.

Flag Bounce – PCLN, NTES, RVBD, OPEN, LDK, SWKS, JNPR, GLW, SOHU, ICE, IL

Setups

Bull Flag – CRM, NDAQ, AKS, VLO, CLF, JDSU, NYX, ATI, URE, DISH, TSL, DLR, HANS, HUM, CAM,  SLB, TIE, MA, SPG, STI, NETL, CAT, ATW, SWK, XL, NFLX, CIEN, SMH, AAPL, AMZN, BIDU, LULU, CMG, ARMH, NIHD, CRUS, GMCR, SWK, FFIV, RVBD

Breakout – SLW, CHK, HLF, VRTX

Positives – COMPQ, RUT, VIX, AAPL, AMZN, BIDU, NFLX, PCLN, Euro, breadth and sectors strengthened

Negatives – SPX, INDU, TNX

Interest rates closed higher on Thursday and bond ETF TLT was up 58 cents.  The Euro rose 50 pips to 1.3797 at 5 pm ET.

Four of nine sectors rose on Thursday with Consumer Discretionary XLY +0.60% and Industrials XLI +0.58% leading all sectors

SPX

Resistance: 1,311, 1,321, 1,330, 1,338

Support: 1,300, 1,281

The short term 3 day trend is down.
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 +0.26 – hammer, day five in bull flag

AMZN +1.07 – bullish harami at 61.8 Fibonacci retracement

NFLX +3.98 – bullish harami, day seven in bull flag

QCOM +0.79 – bullish harami, day three in bull flag

GOOG -2.50 – hammer in pull back

BIDU +2.91 – bullish harami at earnings gap support day eight in bull flag

NDX 100 stocks stronger than the NDX include PCLN, NIHD, CTRP, FFIV, DLTR, MU, BIDU, NVDA, ALTR, ADSK, BRCM, LRCX, GILD, NFLX and SNDK.

Stocks weaker than the NDX include SHLD, MYL, YHOO, VOD, SPLS, EXPD, MAT, TEVA, VRTX, WYNN, AKAM, BBBY, WCRX, INTU and GOOG.

Stocks to Watch on Friday
Holding Above 30 DMA
NDAQ, VLO, CLF, JDSU, CRUS, GLW, NYX, ATI, URE, DISH, TSL, DLR, HUM, LDK, NTES, CAM,  SLB, TIE, MA, SPG, NETL, CAT, SOHU, ATW, SWK, ICE, JNPR, AMD, DHR, V, ARUN, CIEN, CMG, HSY, DECK, GMCR, GES, RVBD, SLW, AKS, ESI, CSTR, HLF, TLT

Moving Above 30 DMA = 6

ATI, FAZ, MOS, SMH, SWKS, VECO

Moving Below 30 DMA = 2

HANS, STI

Staying Below 30 DMA

ACN, DOW, FAS, GS, HAS, IPI, POT, TIF, A, AGU, BA, BAC, CRM, DE, FDX, FWLT, JEC, LVS, LXK, MHS, NVDA, PCP, PNC, SINA, SNDK, TBT, UAL, UNP, X, CF, PCX, SINA, SKX, WLT, ZION, VMW, MCP, SWN, AIV, UCO, UNG, WHR, F, LCC, CHL, FCX, CREE, GME

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

Futures Flat to Higher Open...PCLN Gaps Up...NDX Leaders Move Higher...

3:35 pm ET - Is that a white hammer on the SPY?  A very strong rally since 2 pm ET.

Do buyers really hang out at support?AAPL, AMZN, BIDU, NFLX and PCLN still up coming into the close...GOOG is down...

Did you see any bull flag entries today?



BMO – ES +0.25 and NQ +6.75 futures are mixed about 15 minutes before the open in pre-market trading and point to a flat to higher open…

TLT is up 41 cents and the Euro is up 45 pips in premarket trading and is nearing horizontal resistance …

PCLN +41.51, +10.10% is gapping up in pre-market trading following earnings…

NDX leaders AAPL, AMZN, BIDU, GOOG, NFLX and PCLN are higher in pre-market trading…

Dave’s Insight for Thursday: With many indexes and stocks in a bull flag pattern and showing bullish candle patterns on Wednesday’s chart, you should now look for re-entry according to your rules…

SPX

Resistance: 1,321, 1,330, 1,338

Support: 1,311, 1,300, 1,281

Quoting Down – SHLD, FWLT, CMG, HLF, CF, DISH, ARUN, VMW, GS, SLB, CSTR, LXK, A, PNC, HUM, WHR, LVS, TBT, NDAQ, UNP, ORLY, WFMI, SRCL, ERTS, VRTX, CELG, VRSN

Quoting Up – PCLN, NTES, DECK, MA, MOS, IPI, POT, SOHU, CRM, WLT, AGU, SINA, GOOG, NFLX, AAPL, MICC, NIHD, BIDU, FFIV, CTRP, FSLR, FDX, CLF, RVBD, MCP, CIEN, PCP, FCX, TLT, X, NVDA, CAT, UCO, UAL, SWN, PCX

SPX Falls for Second Day as Downward Momentum Slows...

The SPX formed a hammer-like spinning top, down -8.04 at 1,307.40 on Wednesday.  This was the first two day pullback in the SPX since January 20. The SPX, broad indexes and many individual stocks are currently in a bull flag price pattern.  Many stocks also formed a hammer candle today.

SPX hammer-like black spinning top, bull flag

INDU black candle, bull flag

COMPQ black candle, bull flag

RUT black candle, bull flag

Breadth strengthened on Wednesday but remained negative as decliners led advancers 1.85 to 1 on the NYSE and 3.15 to 1 on the NASDAQ …

Exchange       NYSE          NASDAQ

Advancers      1,067                639

Decliners        1,974              2,013

Index              Chg.    Close    Direction      Confirmation

VIX                 +1.33      22.13     Up                 Yes – SPX

SOX               -8.54     444.27     Down            Yes – COMPQ

Leading stocks > +2% on Wednesday included HLF, UCO, SLW, SWN, MCP

Losing stocks < -2.0% included LCC, UAL, CRUS, A, NVDA, TIF, FDX, FWLT, TSL, JDSU, RVBD, AMD, SINA, DOWN, CMG, DE, ESI, GES, ATI, SWKS, CRM, F, JNPR, VECO, IPI, CIEN, SWK, VMW, ACN, HAS, DECK

The broad indexes continued lower with slower momentum and more stocks bouncing at support on Wednesday.  AAPL and GOOG moved higher and AMZN, BIDU, NFLX and PCLN closed lower.

PCLN +19.91, +4.67% in after hours trading after reporting Q4 EPS that beat estimates, revenue that was short of estimates and raised guidance for Q1

Positives – AAPL, GOOG, TNX, Euro, breadth and sectors strengthened

Negatives – SPX, INDU, NDX, RUT, VIX, AMZN, BIDU, NFLX, PCLN, breadth and sectors remained negative

Interest rates closed higher on Wednesday and bond ETF TLT was up 33 cents.  The Euro rose 96 pips to 1.3747 at 5 pm ET.

Just one of nine sectors rose on Wednesday with Energy XLE +2.03% and Consumer Staples XLP -0.24% leading all sectors.

Watch these setups on Thursday for potential entry signals...

Setups

Bull Flag – NDAQ, AKS, LDK, JNPR, VLO, CLF, JDSU, GLW, NYX, ATI, URE, DISH, TSL, DLR, HANS, HUM, LDK, NTES, CAM,  SLB, TIE, MA, SPG, STI, NETL, CAT, SOHU, ATW, SWK, ICE, XL, IL, GLW, NFLX, JDSU, CIEN, SWKS, SMH, AAPL, AMZN, BIDU, PCLN, LULU, RVBD, CMG, OPEN, ARMH

Breakout – SLW, CHK, HLF, VRTX

SPX

Resistance: 1,321, 1,330, 1,338

Support: 1,311, 1,300, 1,281

The short term 3 day trend is down.
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 +4.01 – white candle inside day in bull flag

AMZN -3.74 – black candle at 61.8 Fib retracement pull back

NFLX -10.40 – hammer like at earning gap support day six in bull flag

QCOM -1.04 – black spinning top, day two in bull flag

GOOG +1.11 – white hammer in pull back

BIDU -4.38 – black candle at earnings gap support day seven in bull flag

NDX 100 stocks stronger than the NDX include VRTX, DTV, AAPL, GRMN, QGEN, HSIC, GOOG, VRSN, GENZ and MSFT.

Stocks weaker than the NDX include DLTR, ADSK, ILMN, NVDA, NFLX, STX, BIDU, JOYG, LRCX, NIHD, MU, RIMM SHLD, WCRX and INTC.

Stocks to Watch on Thursday
Holding Above 30 DMA
NDAQ, VLO, CLF, JDSU, CRUS, GLW, NYX, ATI, URE, DISH, TSL, DLR, HANS, HUM, LDK, NTES, CAM,  SLB, TIE, MA, SPG, STI, NETL, CAT, SOHU, ATW, SWK, ICE, JNPR, AMD, DHR, V, ARUN, CIEN, CMG, HSY, DECK, GMCR, GES, RVBD, SLW, AKS, ESI, CSTR, HLF, TLT

Moving Above 30 DMA = 0

Moving Below 30 DMA = 10

ACN, DOW, FAS, GS, HAS, IPI, POT, SMH, SWKS, TIF

Staying Below 30 DMA

A, AGU, BA, BAC, CRM, DE, FDX, FWLT, JEC, LVS, LXK, MHS, MOS, NVDA, PCP, PNC, SINA,, SNDK, TBT, UAL, UNP, VECO, X, CF, PCX, SINA, SKX, WLT, ZION, VMW, MCP, SWN, AIV, UCO, UNG, WHR, F, LCC, CHL, FCX, CREE, GME, FAZ

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