SPX at 30 DMA...INDU and RUT Close Above 30 DMA...

The SPX continued its support bounce on Thursday moving back above its 1,300 resistance level.  The SPX closed up +12.12 at 1,309.66. 

SPX large white candle, +0.93%

INDU large white candle, close above 30 DMA, +0.70%

COMPQ large white candle, +1.41%

RUT large spinning top, close above 30 DMA, +0.72%

Breadth strengthened on Thursday as advancers led decliners 1.91 to 1 on the NYSE and 1.80 to 1 on the NASDAQ …

Exchange       NYSE          NASDAQ

Advancers      1,962             1,688

Decliners        1,024               934

Index              Chg.    Close    Direction      Confirmation

VIX                  -1.17      18.00     Down            Yes – SPX

SOX             +10.47    437.41     Up                 Yes – COMPQ

Leading stocks > +2% on Thursday included NVDA, LVS, JDSU, MCP, VMW, ARUN, CIEN, CRM, F, WDC, IL, SWKS, ESI, SNDK, AMD, DECK, CAN, SINA, VECO, NETL, GLW, FWLT, CSTR

Losing stocks < -2.0% included SLW, UNG

Positives – SPX, VIX, INDU, COMPQ, RUT, breadth and sectors strengthened, AAPL, AMZN, BIDU, GOOG, PCLN, QCOM, bonds fell, Euro

Negatives – TNX, NFLX

Interest rates TNX closed slightly lower on Thursday and bond ETF TLT fell 70 cents.  The Euro rose 88 pips to 1.4173 at 5 pm.

All nine sectors moved higher on Thursday with Technology XLK +1.56% and Consumer Discretionary XLY +1.47% the strongest sectors.

SPX

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

Support: 1,300, 1,288, 1,281

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 +5.78 – large white candle, -9.8% correction from Mar 7

AMZN +5.78 – large white candle, -16.1% correction from Feb 14

NFLX +0.07 – black spinning top, -23.6% correction from Feb 14

QCOM +1.27 – large white candle, -16.2% correction from Mar 1

GOOG +4.73 – potential hanging man, -12.6% correction from Feb 18

BIDU +0.89 – potential hanging man

NDX 100 stocks stronger than the NDX include MU, NVDA, ADSK, CTRP, YHOO, ILMN, STX, ERTS, CTSH, CTXS, EBAY, AMZN, CELG, RIMM and INFY.

Stocks weaker than the NDX include PAYX, CSCO, FFIV, URBN, SIAL, NFLX, NIHD and LINTA.

Stocks to Watch on Friday

Holding Above 30 DMA
HUM, ARUN, GMCR, HLF, HAS, SINA, TLT, FAZ, SWN, UCO, CAT, CSTR, UNG, WDC, SLW, SWK, ATW, DHR, FCX, IL, NTES, VECO, VLO, MCP, A, CLF, DE, ICE, PCX, WLT

Moving Above 30 DMA = 10

ACN, AMD, ATI, ESI, F, FWLT, NETL, SOHU, TSL, UNP

Moving Below 30 DMA = 0

Staying Below 30 DMA

CAM, URE, CMG, DLR, NYX, RVBD, JNPR, BAC, TIF, CHL, DECK, DOW, NDAQ, V, FAS, GLW, JDSU, TBT, AGU, CRUS, SWKS, CIEN, GES, IPI, MHS, MOS, POT, SLB, SMH, CF, AKS, CRM, LDK, SNDK, STI, GS, JEC, LVS, NVDA, UAL, X, ZION, VMW

Eight Week Term Market Trend: Neutral
Short Term Market Trend: Up