SPX Reverses Early Gains...Closes at 1,300 Support...

Dave is traveling from Newark early in the morning and will post again Friday after the Weekly Wrap...See you there...

The SPX closed down -4.22 at 1,300.67.

The SPX continues to drift lower.  Remember a break of support indicates the most probable target of the next level of support.


Leading stocks > +2% on Thursday included GMCR, CROX, CAM, MCP, CY, VECO, NDAQ, CSTR

Losing stocks < -2.0% included UAL, JDSU, CLF, IL, JNPR, PCX, ENTR, ATI, ESI, AKS, SWKS, UNG

SPX
Resistance: 1,310, 1,321, 1,330
Support: 1,300, 1,288, 1,278

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 -0.77 – doji, bull flag setup, above 30 DMA
AMZN +1.38 – spinning top, new high close, above 30 DMA
BIDU -2.90 – black candle, bull flag setup, above 30 DMA
GOOG +3.72 – white spinning top, bull flag setup, above 30 DMA
NFLX -2.80 – white spinning top, below 30 DMA
PCLN +5.08 – white spinning top, bounce on 30 DMA, above 30 DMA
QCOM +0.40 –bullish harami, below 30 DMA

NDX 100 stocks stronger than the NDX include GMCR, SYMC, ILMN, CTXS, WFM, SBUX, CSCO, FAST, TEVA and MSFT.

Stocks weaker than the NDX include AKAM, BMC, SRCL, LIFE, APOL, ORLY, EXPE, WYNN, VRSN and CMCSA.

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

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