Solar Stocks Sizzle and SPX Holds and Euro Pulls Back to Support...

Six of nine sectors moved higher on Wednesday, XLF, XLB and XLI were the strongest sectors.

Money Flow

Euro      -67 pips      1.2707

TNX       -0.68            19.04

TLT      +1.54          119.86

XLF      +0.15            13.86

SPX      +0.40       1,292.48

VIX       +0.36            20.69

RUT +0.33%

COMPQ +0.31%

NDX +0.21%

SPX +0.03%

INDU -0.10%

Money Flow did follow the Euro lower as bonds rose and TNX fell.  XLF moved higher and the SPX was near unchanged. The VIX did NOT confirm the flat SPX today.  The SPX stayed above its recent pennant pattern breakout  continuing its intermediate term up trend.

The SPX is continuing to act as if institutional buyers want to take the index higher.  In our view this is in response to improving economic data in the U.S., and the reaction to AA earnings indicate that earnings reports can be the catalyst for which the institutions are waiting.  Upcoming key earning reports include INTC, JPM, IBM and AAPL.

Even though the SPX was unchanged our Leading Stocks list from our watch list had some large gains especially solar stocks TSL and LDK.

SPY moved up 7cents on volume of 111.3 million shares.

Breadth weakened as advancers led decliners 1.22 to 1 on the NYSE and 1.47 to 1 on the NASDAQ.

Exchange        NYSE        NASDAQ

Advancers       1,668          1,495

Decliners         1,359          1,016

BIDU and GOOG moved higher. AAPL, AMZN, NLFX, PCLN and QCOM moved lower. 

Leading stocks > +2% on Wednesday TSL, LDK, CROX, AKS, WLT, SINA, X, RCL, C, DECK, LNKD, ANR, MCP, VECO, BAC, CIEN, FCX, VMW, PCX, UAL, NTES, STI, CRUS, TPX, ARUN, LVS, GLW, FAS, F, TSLA, JDSU, CLF

Losing stocks < -2.0% included SWN, GES, HAL, TBT, FAZ, CDE, UCO, COH, NVDA

NDX 100 stocks stronger than the NDX included LIFE, BIDU, FSLR, CTSH, ADKS, GMCR, GILD, PCAR, NUAN and SRCL.

Stocks weaker than the NDX include NFLX, MRVL, DTV, FFIV, CSCO, CERN, DLTR, MU, PNRA and NVDA.

One NDX stock WYNN closed above its 30 DMA and two DLTR and NVDA close below making 82 NDX stocks above their 30 DMA. 

Stocks to Watch on Thursday

Holding Above 30 DMA = 59

V, WDC, LDK, DLR, IL, URE, CMG, DE, DOW, ENTR, FAS, HUM, SWK, UNP, F, NKE, UCO, ATI, CIEN, CRUS, SMH, SWKS, ZION, JDSU, NGLS, AKS, BAC, CF, CHL, DHR, STI, HAL, X, A, C, CAT, CLF, FCX, MOS, POT, TPX, ESI, RVBD, SNDK, GLW, KKD, CREE, FFIV, GS, JNPR, CROX, HLF, LNKD, LVS, NDAQ, RCL, SLW, SOHU, TSL

Moving Above 30 DMA = 5

ANR, CSTR, SINA, TLT, VECO

Moving Below 30 DMA = 6

CDE, COH, GES, NVDA, SLB, TBT

Staying Below 30 DMA

TIF, PCX, ANF, IBM, ICE, GRPN, NTES, FAZ, TSLA, INFA, CRM, DECK, VMW, ARUN, SWN, WLT, MCP, ZAGG

Fourteen Week Intermediate Term Market Trend: Up

Short Term Market Trend: Up