The SPX rose +5.97 and closed at 1,218.89. The SPX is above its 1,200 horizontal resistance and formed another higher high and higher low on the daily candle. Four of the five broad indexes are above their 30 DMA.
Five NDX stocks closed above their 30 DMA today including JOYG, LIFE, QCOM, SPLS and XRAY with the total above at 55. In our 30 DMA Watch List, 6 stocks closed above the 30 DMA with the total at 39.
Posture turned Bullish on Friday as the MF Green Line moved out of the lower reversal zone on Friday. Take One Green Arrow trades.
NDX spinning top, above30 DMA +0.15%
SPX potential shooting star, close above 30 DMA +0.49%
INDU potential shooting star, close above 30 DMA +0.46%
COMPQ spinning top, close above 30 DMA +0.55%
RUT spinning top, at 30 DMA -0.17%
Breadth strengthened as advancers led decliners 1.84 to 1 on the NYSE and weakened slightly as decliners barely led 1.005 to 1 on the NASDAQ …
Exchange NYSE NASDAQ
Advancers 1,971 1,277
Decliners 1,066 1,284
Index Change Close Direction Confirmation
VIX -1.27 31.62 Down Yes – SPX
SOX -2.44 355.79 Down No – COMPQ
Leading stocks > +2% on Wednesday CRM, VMW, FAS, NTES, TBT, FFIV , IL
Losing stocks < -2.0% included LDK, JNPR, LNKD, INFA, CF, JDSU, ENTR, FAZ, CROX, CIEN, NETL, MOS, ANR, AKS, NVDA, CSTR, WLT
Eight of nine sectors moved higher on Wednesday. Financials XLF +1.29%, Energy XLE +0.75% and Healthcare XLV +0.69% were the strongest sectors.
Interest rates TNX closed +0.42 at 22.18, bond ETF TLT fell -1.68 and Financials XLF was up 17 cents. The Euro moved down 71 pips to close at 1.4371 at 5 pm on Wednesday.
SPX
Resistance: 1,225, 1,235, 1,249
Support: 1,200, 1,177, 1,160
The short term 3 day trend is up.
The six-month trend is down.
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 -5.19 – bearish engulfing, above 30 DMA
AMZN +4.31 –white candle, above 30 DMA
BIDU -2.57 – potential dark cloud cover, above 30 DMA
GOOG +0.26 – potential hanging man, below 30 DMA
NFLX -1.27 – spinning top, below 30 DMA
PCLN +2.04 – potential hanging man, above 30 DMA
QCOM +0.22 – spinning top, close above 30 DMA
NDX 100 stocks stronger than the NDX include CTXS, WFM, FFIV, FLIR, TEVA, AMZN, NIHD, ADSK, GMCR and MYL.
Stocks weaker than the NDX include ALTR, NVDA, DLTR, CERN, FSLR, BIDU, YHOO, LRCX, MAT and AAPL.
Stocks to Watch on Thursday
Holding Above 30 DMA = 33
TLT, CF, CHL, CDE, SLW, DE, GMCR, KKD, MOS, NKE, POT, V, CRUS, DLR, HLF, HUM, ICE, JDSU, LVS, NDAQ, NTES, SOHU, TIF, UAL, ZAGG, ARUN, CLF, CMG, CSTR, FWLT, MCP, NGLS, SINA
Moving Above 30 DMA = 6
CREE, DHR, GLW, SWK, URE, VMW
Moving Below 30 DMA = 3
CROX, NVDA, TSL
Staying Below 30 DMA
BAC, VECO, LDK,DECK, HAL, IBM, LNKD, SNDK, SWKS, TPX, ESI, ANF, COH, FCX, GS, SLB, WLT, SWN, DOW, UCO, UNP, ANR, ATI, CAT, CIEN, CRM, FAS, JNPR, SMH, STI, WDC, AKS, C, PCX, TBT, X, ZION, NETL, FFIV, RVBD, ENTR, INFA, A, F, GES, IL
Intermediate Term Market Trend: Down
Short Term Market Trend: Up
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