SPX Moves Lower...GOOG Rises $67 Following Earnings...

GOOG reported better than expected earnings after the close on Thursday and rose more than $67 in after-hours trading. JPM +0.73, 1.84% reported earnings Thursday morning.

Momentum turned down after prices opened slightly higher as concerns over U.S. debt continued. The SPX again failed to break above Monday’s R1 before sellers sent the SPX lower -8.85 to close at 1,308.87.

SPX black candle, above 30 DMA -0.67%
INDU inverted hammer, above 30 DMA -0.44%
COMPQ large black candle, above 30 DMA -1.22%
RUT large black candle, above 30 DMA -1.63%

Breadth weakened as decliners led advancers 3.70 to 1 on the NYSE and 3.31 to 1 on the NASDAQ …

Exchange      NYSE      NASDAQ
Advancers        641            598
Decliners       2,372         1,981

Index      Chg.      Close      Direction      Confirmation
VIX        +0.89       20.80          Up               Yes – SPX
SOX       -6.11      387.76       Down             Yes – COMPQ

Leading stocks > +2% on Thursday included TBT, NTES, FAZ


Losing stocks < -2.0% included MCP, VECO, UCO, NVDA, CIEN, ZION, TSL, WLT, AKS, ATI, PCX, CREE, ENTR, SWK, X, HAS, GMCR, DECK, GES, INFA, JDSU, UAL, FAS, KKD, RVBD, JNPR, WTW, URE, GLW


Interest rates TNX rose +0.53, bond ETF TLT fell $1.39 and Financials XLF was down 11 cents. The Euro moved down 61 pips to close at 1.4140 at 5 pm on Thursday.


SPX
Resistance: 1,321, 1,330, 1,344
Support: 1,310, 1300, 1,288


The short term 3 day trend is down.
The six-month trend is neutral.
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 -0.25 – bearish engulfing, above 30 DMA
AMZN -3.12 –black candle, bull flag setup, above 30 DMA
BIDU -1.47 – spinning top, bull flag setup, above 30 DMA
GOOG -9.32 – black candle, above 30 DMA
NFLX -12.11 – large black candle, above 30 DMA
PCLN -12.55 – large black candle, bull flag setup, above 30 DMA
QCOM -0.43 –large black candle, flag setup, above 30 DMA


NDX 100 stocks stronger than the NDX include WYNN, DELL, JOYG, WCRX, QGEN, ALXN and CTRP.


Stocks weaker than the NDX include AKAM, NFLX, NVDA, NIHD, RIMM, NTAP, NWSA, MU, ALTR and GMCR.


Stocks to Watch on Friday
Holding Above 30 DMA
TIF, KKD, CROX, GMCR, TPX, AGU, CMG, CRM, HLF, VMW, ATW, NGLS, CHL, CLF, ENTR, ESI, ACN, CSTR, FFIV, ICE, POT, RVBD, AKS, CAM, CAT, COH, CRUS, DECK, DLR, FCX, LVS, NKE, NTES, PCX, SLB, WDC, SWN, URE, V, SINA, SOHU, WTW, ANF, CDE, SLW, TLT, CF, HUM, IAG
Moving Above 30 DMA = 1
FAZ
Moving Below 30 DMA = 12
ARUN, ATI, DE, DHR, INFA, MOS, NETL,SWK, UCO, UNP, X, ZION
Staying Below 30 DMA
DLR, CY, SMH, SWKS, A, DOW, F, FAS, GES, HAS, JNPR, MCP, NDAQ, SNDK, TBT, WLT, ANR, GS, STI, LDK, BAC, TSL, TLT, UAL, UNG, VECO, CREE, NVDA, FWLT, MHS, JDSU, GLW, CIEN, IL


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