SPX Moves Lower Before Closing Higher as VIX HigherCloses Over 22...

Thursday evening Dave and Tom gave spoke for 2 hours to several hundred traders at the Trader’s Expo in Dallas. Dave will be traveling home Friday morning and will post again later Friday.

The SPX fell to 1,258 and reversed up +2.22 to close at 1,267.64 closing at its 1,267 horizontal resistance area.

Interest rates TNX moved lower and bonds TLT rose 44 cents. Financial stocks XLF rose 8 cents.

SPX potential bullish harami, below 30 DMA +0.18%
INDU piercing line, below 30 DMA +0.54%
COMPQ hammer, below 30 DMA -0.29%
RUT potential bullish harami, below 30 DMA +0.27%

Breadth strengthened as decliners led advancers 1.21 to 1 on the NYSE and advancers led decliners 1.06 to 1 on the NASDAQ …

Exchange      NYSE      NASDAQ
Advancers     1,366        1,338
Decliners        1,656        1,254

Index      Chg.      Close      Direction      Confirmation
VIX         +1.41       22.73         Up                 No – SPX
SOX        -4.57     393.87        Down            Yes – COMPQ

Leading stocks > +2% on Thursday included CROX, CAM

Losing stocks < -2.0% included IAG, JDSU, AKS, CIEN, MOS, MCP, PCX, CF, POT, SINA, ESI, NVDA, FFIV, UNG, ATI, CY, HLF, ACN, ANR, SLW, SWKS, WLT, F, ANF, CREE, NTES, X, CLF

SPX
Resistance: 1,278, 1,288, 1,300
Support: 1,267, 1,257, 1,249

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 -1.59 – hammer, below 30 DMA
AMZN -2.33 – spinning top, below 30 DMA
BIDU -2.60 – large black candle, below 30 DMA
GOOG -2.58 – spinning top, below 30 DMA
NFLX -7.82 – large black candle, close below 30 DMA
PCLN -9.46 – black candle, below 30 DMA
QCOM -1.11 – large black candle, below 30 DMA

NDX 100 stocks stronger than the NDX include SHLD, WFM, ORLY, FAST, FSLR, AKAM, SRCL, CSCO, COST, MSFT, LIFE and EXPD.

Stocks weaker than the NDX include VMED, NVDA, FFIV, CTSH, NFLX, TEVA, KLAC, FLEX, MU, STX, BIDU, CTXS, QCOM and PCLN.

Stocks to Watch on Friday
Holding Above 30 DMA
TIF, KKD, FAZ, ESI, CROX, GMCR, TLT
Moving Above 30 DMA = 0

Moving Below 30 DMA = 5
AKS, CF, HLF, NGLS, UNG
Staying Below 30 DMA
ACN, AGU, CHL, CRM, DLR, FCX, FFIV, HUM, IAG, ICE, POT, SLB, TBT, UNP, VMW, CMG, INFA, SWN, CY, V, VECO, COH, ATW, CREE, RVBD, ANF, GES, NVDA, SINA, ANR, TPX, WTW, A, CLF, CRUS, CSTR, DECK, DHR, ENTR, FWLT, SMH, SNDK, STI, URE, ZION, UAL, MHS, HAS, JDSU, JNPR, SWK, ARUN, GLW, ATI, CIEN, DOW, F, CAT, IL, NDAQ, SWKS, WDC, MCP, WLT, FAS, LVS, SOHU, UCO, DE, NETL, PCX, LDK, TSL, NTES, SLW, GS, CDE, MOS, X, CAM, BAC

Intermediate Term Market Trend: Neutral
Short Term Market Trend: Down