SPX, COMPQ, INDU and RUT Grind Higher as Semis and Financials Move Higher...

I'm just back from picking my son up at the airport...he just returned from two years in the Barcelona area of Spain...Just a short post on today's action...

The SPX formed a doji on Wednesday closing down +2.91 at 1,335.54.   Interest rates TNX +0.58 rose on Wednesday and bond ETF TLT dropped -1.87.  Financial stocks XLF rose 19 cents which helped upward momentum in the SPX.  The SPX continues to trade near resistance. 

AAPL, AMZN, BIDU, NFLX and PCLN reversed early gains and moved lower forming bearish candle patterns.  GOOG and QCOM finished higher.

Breadth improved on Wednesday as advancers led decliners 1.33 to 1 on the NYSE and 1.35 to 1 on the NASDAQ …

Exchange       NYSE          NASDAQ

Advancers      1,700             1,492

Decliners        1,277             1,099

Index              Chg.    Close    Direction      Confirmation

VIX                 -0.35       16.90     Down            Yes – SPX

SOX              +6.72     445.50     Up                 Yes – COMPQ

Leading stocks > +2% on Wednesday included TSL, AMD, ANF, FAS, TBT, NDAQ, ESI, STI, JDSU, ICE, NYX

Losing stocks < -2.0% included SWKS, MCP, ARUN, FAZ, IL, IPI, CAM, UAL, SWN, SINA, MOS, CF, VLO, UNG, SOHU, GMCR, FWLT

SPX

Resistance: 1,330, 1,344

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.

NDX 100 stocks stronger than the NDX include CSCO, BRCM, ISRG, ATVI, FAST, DELL, RIMM, LRCX, ALTR, MU, URBN, ADP, QCOM and LIFE.

Stocks weaker than the NDX include CTXS, BIDU, WFMI, PCLN, JOYG, NFLX, NIHD, CERN, FSLR, AMZN, CTRP and CMCSA.

Stocks to Watch on Thursday

Holding Above 30 DMA
HUM, GMCR, CDE, HLF, HAS, SINA, SWN, UCO, CAT, CSTR, WDC, IAG, SLW, SWK, ATW, DHR, FCX, NTES, VECO, VLO, MCP, A, CLF, DE, PCX, WLT, ACN,  ATI, F, NETL, SOHU, TSL, UNP, CMG, DOW, SLB, AKS, ANF, DECK, DLR, FWLT, JEC, URE, CF, CRM, LVS, POT, TIF, V, AGU, ESI, CHL, FAS, MOS, NDAQ, NYX, ZION, SNDK, CIEN, SMH

Moving Above 30 DMA = 3

GS, STI, TBT

Moving Below 30 DMA = 4

ARUN, IPI, TLT, UNG

Staying Below 30 DMA

X, VMW, FAZ, AMD, ICE, IL, CAM, RVBD, JNPR, BAC, GLW, JDSU, CRUS, SWKS, GES, MHS, LDK, NVDA, UAL

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