SPX Tests Monday's Support Low and Holds as of the Close...

The SPX moved down -51.77 and closed at 1,120.76. The VIX rose closing up +7.93 at 42.99.

Stocks pulled back on Wednesday and tested Monday’s low. The RUT, NDX and COMPQ remained above Monday’s low. The SPX closed at Monday’s close and above Tuesday’s low. The INDU closed below Monday’s low and above Tuesday’s low. The SPX made an equal low while the VIX closed 5 points lower at 42.99, a non-confirmation and indicates fear was lower Wednesday than on Monday.

NDX black candle, below 30 DMA -4.06%
SPX large black candle, below 30 DMA -4.42%
INDU large black candle, below 30 DMA -4.62%
COMPQ black candle, below 30 DMA -4.09%
RUT large black candle, below 30 DMA -5.16%


Breadth weakened as decliners led advancers 2.72 to 1 on the NYSE and 4.20 to 1 on the NASDAQ …

Exchange     NYSE     NASDAQ
Advancers       835            505
Decliners      2,272          2,126

Index     Change     Close     Direction     Confirmation
VIX            +7.93        42.99         Up              Yes – SPX
SOX           -7.15      339.54        Down         Yes – COMPQ

Leading stocks > +2% on Wednesday included FAZ, CREE, SLW, SINA, TLT

Losing stocks < -2.0% included IL, FAS, STI, BAC, ZION, C, GS, GLW, UAL, A, JDSU, NETL, FWLT, TBT, RVBD, ACN, INFA, SWK, ZAGG, ARUN, ATI, CIEN, NDAQ, URE, SLB, FFIV, KKD, X, F, NVDA, CAT, DOW, V, DE, WDC, JNPR, ESI, CRUS, NKE, HLF, SNDK, PCX, GES, CAM, DHR, UNP, CLF, FCX, MHS, DECK, VMW, CRM, HUM, ICE, ANR, CROX, POT, DLR, SMH, MOS, WLT


Interest rates TNX closed -0.45 at 21.37, bond ETF TLT rose $3.15 and Financials XLF was down 91 cents. The Euro moved down 200 pips to close at 1.4177 at 5 pm on Wednesday.

SPX
Resistance: 1,134, 1,146, 1,158
Support: 1,119, 1,103, 1,080

The short term 3 day trend is down.
The six-month trend is down.
The twelve-month trend is neutral.

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 -10.32 – black candle, close below 30 DMA
AMZN -10.96 – black candle, below 30 DMA
BIDU -2.85 – spinning top, below 30 DMA
GOOG -24.40 – black candle, close below 30 DMA
NFLX -5.38 – inverted hammer, below 30 DMA
PCLN -18.62 – inverted hammer, below 30 DMA
QCOM -2.63 – black candle, below 30 DMA

NDX 100 stocks stronger than the NDX include FSLR, CTRP, MRVL and MXIM.

Stocks weaker than the NDX include SHLD, ADBE, MU, GILD, LIFE, QGEN, INTU, NIHD, MYL and CTSH.

Stocks to Watch on Thursday
Holding Above 30 DMA
FAZ, TLT, GMCR
Moving Above 30 DMA = 2
CREE, SLW
Moving Below 30 DMA = 1
CROX
Staying Below 30 DMA
HLF, CHL, CAM, CDE, CF, CMG, DECK, IAG, LVS, MCP, MHS, MOS, SNDK, SOHU, SWKS, TPX, V, WTW, ESI, NTES, ANF, ATW, COH, FCX, GS, POT, SLB, WLT, NKE, SINA, SWN, ACN, AGU, DOW, UCO, UNP, VMW, CLF, NGLS, 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, 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: Down
Short Term Market Trend: Down