SPX Breaks Diagonal Support, Falls to Horizontal Support...

Tom and Dave had a great session with several hundred traders in attendance in Thursday night’s session.

The Euro was up 6 pips to 1.3457 at 5 pm EDT on Thursday. TLT was up 95 cents. Financials XLF was down 25 cents.

The broad indexes moved lower with the NDX -2.25%, COMPQ -1.96%, SPX -1.68%, RUT -1.52%, and INDU -1.13%. The SPX moved down -20.78 to close at 1,216.13.

The SPX broke its diagonal support line in its symmetrical triangle and fell to its horizontal support area.

The VIX moved up +1.00 to 34.51.

AAPL, AMZN, BIDU, GOOG, PCLN and QCOM moved lower on Thursday.

Exchange      NYSE      NASDAQ
Advancers        577           710
Decliners       2,445        1,787

Leading stocks > +2% on Thursday FAZ, LNKD, NTES, GRPN, ANF

Losing stocks < -2.0% included CF, ARUN, CREE, PCX, SWKS, ANR, MOS, SLW, GES, RVBD, ZAGG, FAS, WDC, UCO, JNPR, HAL, POT, LDK, SWN, MCP, CLF, AKS, SOHU, CRM, SLB, JDSU, SINA, INFA, VECO, CSTR, CDE, F, FCX, ENTR, NVDA, URE, CRUS, A, SMH, ICE, GS, X, TSL, VMW, C, SNDK, FFIV, CIEN, ATI, FWLT, DOW, TPX, WLT, ZION, KKD, DECK, GLW, DHR, LVS, V, CROX, UAL, COH, CAT, RCL

NDX 100 stocks stronger than the NDX included SIRI, FSLR, LINTA, DLTR and VOD.

Stocks weaker than the NDX include NTAP, AMAT, MRVL, MU, BRCM, NFLX, LRCX, FLEX, BIDU and PCLN.

Seventeen NDX stocks including ADBE, AMAT, BIDU, EXPE, LLTC, LRCX, MCHP, MRVL, MXIM, NTAP and SBUX moved below their 30 DMA leaving 29 NDX stocks above the 30 DMA.

Stocks to Watch on Friday
Holding Above 30 DMA = 32
FFIV, SNDK, UNP, SWK, TIF, VMW, JNPR, NGLS, CAT, DLR, RVBD, SLB, UCO, AKS, GLW, A, CIEN, ATI, DE, HUM, HAL, CLF, JDSU, LVS, X, INFA, NDAQ, FAS, IBM, CHL, TLT, NTES
Moving Above 30 DMA = 1
FAZ
Moving Below 30 DMA = 17
ANR, ARUN, CF, COH, CREE, CRM, CRUS, DHR, FCX, KKD, NKE, SLW, SMH, SWN, URE, V, WLT
Staying Below 30 DMA
CMG, DECK, DOW, HLF, ICE, NVDA, PCX, TPX, GES, LDK, MOS, RCL, VECO, C, ENTR, FWLT, GS, SOHU, STI, ZION, MCP, TSL, BAC, CSTR, F, IL, POT, SINA, SWKS, WDC, ZAGG, LNKD, ANF, ESI, TBT, UAL, CROX, FAZ, GRPN

Six Week Intermediate Term Market Trend: Up
Short Term Market Trend: Down