Trading Down SPX, NDX Move Lower...AAPL Rises to New High...

.

Eight of nine sectors moved lower on Wednesday.  XLP, XLU and XLY were the strongest sectors.

On Wednesday all the broad indexes moved lower and the SPX moved lower after four up days.  The SPX broke its 161.8% Fib extension at 1,375 today before retreating, after the Euro began to fall, and closing at 1,365.

AAPL rose and AMZN, BIDU, GOOG NFLX, PCLN and QCOM moved lower.   AAPL again made a new all-time closing high.

Money Flow

Euro    -134 pips 1.3322

TNX      +0.48       19.77

TLT       -0.72      117.43

XLF       -0.06       14.76

SPX      -6.50   1,365.68

VIX      +0.47        18.43

NDX -0.39%

INDU -0.41%

SPX -0.47%

COMPQ -0.67%

RUT -1.56%

Money Flow was atypical on Wednesday as the Euro, bonds TLT, XLF and SPX moved down.  Interest rates TNX and VIX moved higher.  Generally with the Euro down this many pips interest rates would typically fall and bonds rise.  The Jan 18 SPX breakout has an intermediate term chart target of 1,427 within 12 weeks of the breakout.

The VIX did confirm the SPX move on Wednesday.  The trend of the SPX is still up after pulling back 13 points from its intra-day high, which is just 1/3 of the 33 point pullback that completed on Jan 30.

(click image to enlarge)

Breadth weakened as decliners led advancers 1.92 to 1 on the NYSE and 2.91 to 1 on the NASDAQ.

Exchange        NYSE       NASDAQ

Advancers       1,029             656

Decliners         1,979          1,911

The Euro sold off on Wednesday forming a bull flag price pattern on its way towards its 1.3534 chart target from its Jan 24 horizontal resistance breakout.  This breakout chart target also aligns with old resistance from Dec 1.

Follow your rules in looking for entry opportunities created by today’s pull back.

Leading stocks > +2% on Wednesday included DLR

Losing stocks < -2.0% included JDSU, PCX, CSTR,CDE, ENTR, IL, MCP, ZAGG, TSL, ANF, JNPR, ARUN, SLW, LDK, ANR, CREE, VECO, CLF, CF, HAL, SWI, SINA, CIEN, MOS, FCX, X, DOW,SOHU, WLT, GLW, V

NDX 100 stocks stronger than the NDX included WYNN, EXPD, SIRI, VRTX, AVGO, SHLD, AAPL, MYL, COST and EXPE.

Stocks weaker than the NDX include FSLR, SPLS, MU, STX, AMAT, EBAY, BMC, RIMM, NFLX and GOLD.

Two NDX stocks WCRX and WYNN closed above the 30 DMA and ten stocks AMAT, AMGN, CELG, CSCO, CTSH, DELL, LLTC, SPLS, TEVA and VOD closed below the 30 DMA leaving 68 NDX stocks above their 30 DMA.

Stocks to Watch on Thursday

Holding Above 30 DMA = 56

WDC, CMG, FAS, SWK, NKE, CRUS, SMH, SWKS, NGLS, BAC, CF, CHL, STI, A, C, CAT, TPX, KKD, CREE, GS, HLF, LNKD, LVS, SLW, CSTR, VECO, COH, CRM, FFIV, SLB, INFA, NTES, SWI, VMW, IBM, ZAGG, TSLA, LDK, GES, V, ICE, ZION, NDAQ, TIF, RVBD, SWN, UCO, CDE, DHR, MOS, POT, DLR, SNDK, TLT, SINA

Moving Above 30 DMA = 0

Moving Below 30 DMA = 8

ANF, CROX, DOW, ENTR, HAL, JDSU, JNPR, UNP

Staying Below 30 DMA

ARUN, ESI, IL, NVDA, URE, CIEN, GLW, CIEN, GLW, DECK, MCP, TBT, TSL, F, HUM, RCL, UAL, WLT, DE, CLF, FCX, X, GRPN, ANR, PCX, SOHU, AKS, ATI, FAZ

Four Month Intermediate Term Market Trend: Up

Short Term Market Trend: Up

Trading Up, NDX, SPX Move Up After Revised GDP at 3.0%...

BMO – ES +1.50 and NQ +3.75 futures are higher 20 minutes before the open in pre-market trading and point to a slightly higher open… volume is light for pre-market with more stocks quoting up than down…

Q4 GDP came out at a revised 3.0%, higher than the 2.8% released at the end of January…the economy continues to strengthened.

XLF is up 2 cents on 55,300 shares in pre-market at this time…

FAS is up 55 cents …

TLT is up 32 cents…

the Euro is down 14 pips overnight trading and is forming a live dark cloud cover pattern …

NDX leaders AAPL, AMZN, BIDU, GOOG, PCLN and QCOM are higher…NFLX is DOWN…

Dave’s Insight for Wednesday:  lower Euro…higher bonds… Financials up…setting up a slightly higher open…Follow YOUR rules for entry, exits and stops...TRADE THE TREND…With extended profits be sure to adjust your stops…

The SPX, INDU, NDX and COMPQ hit a New High Close and the pre-market action looks like the NDX will continue to lead the recent up trend…During the past 10 weeks the SPX has not had a correction of more than 33 points, a very stable trend during this low volatility period…

The intermediate term trend is still up…

Chart Signals will be watching the Euro, XLF and the VIX...the VIX continues to indicate stable trend…

SPX

Resistance: 1,370, 1,375, 1,388

Support: 1,361, 1,353, 1,347

Quoting Down – FSLR, CMG, CSTR, ESI, GS, STI, A, VOD

Quoting Up – AAPL, WYNN, AMZN, GOOG, WDC, COH, LNKD, FAS, UNP, IBM, CHL, CF, LVS, TLT, SNDK, SINA, URE, DECK, HLF, POT, GOLD, PCLN, BIDU, NUAN, BIIB, STX, ALXN, AVGO, KLAC

Trading SPX, NDX, COMPQ, INDU New High Close...AAPL New All-time High...

.
Six of nine sectors moved higher on Tuesday.  XLK, XLY and XLV were the strongest sectors.

On Tuesday the NDX, COMPQ, SPX and INDU each made a New Bull Market High Close.  The RUT closed slightly lower.

AAPL, AMZN, BIDU, GOOG NFLX and PCLN rose and QCOM moved lower.   Both AAPL and PCLN made new all-time closing highs.  PCLN gapped up and closed up 41.22 after reporting better than expected earnings and revenues.

Money Flow

Euro     +63 pips 1.3456

TNX     +0.07        19.29

TLT      -0.39       118.15

XLF     +0.04        14.82

SPX     +4.59   1,372.18

VIX       -0.23        17.96

NDX +1.02%

COMPQ +0.69%

SPX +0.34%

INDU +0.18%

RUT -0.35%

Money Flow was typical on Tuesday as the Euro, TNX, XLF and SPX moved higher.  Bonds TLT and VIX moved lower.  The Jan 18 SPX breakout has an intermediate term chart target of 1,427 within 12 weeks of the breakout.  The SPX is within 55 points of that price target.

The VIX did confirm the SPX move on Tuesday.

 (click image to enlarge)

 Breadth strengthened as advancers led decliners 1.05 to 1 on the NYSE and decliners led 1.09 to 1 on the NASDAQ.

Exchange        NYSE       NASDAQ

Advancers       1,544          1,207

Decliners         1,466          1,324

The Euro rallied on Tuesday moving towards its 1.3534 chart target from its Jan 24 horizontal resistance breakout.  This breakout chart target also aligns with old resistance from Dec 1.

Bull Flag Setups to watch on Wednesday – WDC, JDSU, GMCR, GRMN, MTW, ADSK VRSN, INTU, NVDA, CIEN, ESI, RCL, ENTR, BAC, FLEX

Support bounce entries on Tuesday included GES, SBUX and INTC.

Monday night webcast I placed two real-time paper trades for Tuesday.  50 Mar 30 CREE calls if the stock rose above 29.42.  The stock did and the order filled at $1.10 per contract just after the open.  Mar 30 calls closed at $2.08 for a gain of 98 cents or $4,900 on a $5,500 investment.  An 89% gain.

Also 20 Mar 115/125 NFLX call spreads if the stock rose above 110.64.  The trade filled about 10 minutes after the open at $2.48 per spread.  The spread closed at $3.20 for a gain of 72 cents or $1,440 gain on a $4,960 investment.  A 22.9% gain.

These are two excellent examples of the potential of option trades to create meaningful gains on relatively small principal investments, the advantage of option leverage.

(click image to enlarge)

Support Bounce from below the 30 DMA…

(click image to enlarge)

Leading stocks > +2% on Tuesday included SINA, ZAGG, CREE, CDE, NTES, LVS, SLW, SOHU, CSTR, KKD, UAL, CRUS

Losing stocks < -2.0% included IL, SWN, ESI, LDK, ANR, LNKD, UCO

NDX 100 stocks stronger than the NDX included PCLN, SPLS, MU, LRCX, NFLX, AMZN, BIDU, CTRP, BRCM and NUAN.

Stocks weaker than the NDX include APOL, EXPD, SRCL, WYNN, CHKP, VRTX, BMC, AKAM, QCOM and FFIV.

Four NDX stocks AMGN, SBUX, TEVA, VOD closed above the 30 DMA and NVDA and WYNN closed below the 30 DMA making 76 NDX stocks above their 30 DMA.

Stocks to Watch on Wednesday

Holding Above 30 DMA = 62

WDC, CMG, DOW, ENTR, FAS, SWK, NKE, CRUS, SMH, SWKS, JDSU, NGLS, BAC, CF, CHL, STI, A, C, CAT, TPX, KKD, CREE, GS, HLF, LNKD, LVS, SLW, CSTR, VECO, COH, CRM, FFIV, SLB, INFA, NTES, SWI, VMW, IBM, ZAGG, TSLA, LDK, GES, JNPR, V, ICE, ZION, NDAQ, TIF, RVBD, SWN, UCO, ANF, CDE, DHR, MOS, POT, HAL, DLR, SNDK, UNP, TLT

Moving Above 30 DMA = 2

CROX, SINA

Moving Below 30 DMA = 5

ARUN, ESI, IL, NVDA, URE CIEN, GLW

Staying Below 30 DMA

CIEN, GLW, DECK, MCP, TBT, TSL, F, HUM, RCL, UAL, WLT, DE, CLF, FCX, X, GRPN, ANR, PCX, SOHU, AKS, ATI, FAZ

Four Month Intermediate Term Market Trend: Up

Short Term Market Trend: Up

Futures Point to a Slightly Higher Open...PCLN Gap Up 41...

BMO – ES +0.75 and NQ +3.50 futures are higher 20 minutes before the open in pre-market trading and point to a slightly higher open… volume is light for pre-market with more stocks quoting up than down…

XLF is up 2 cents on 117,600 shares in pre-market at this time…

FAS is up 11 cents …

TLT is up 33 cents…

the Euro is up 48 pips overnight trading and is forming a live dark cloud cover pattern …

PCLN +41.70, +7.08% is gapping up after better than expected EPS and revenues…

NDX leaders AAPL, AMZN, BIDU, GOOG, PCLN and QCOM are higher…NFLX is DOWN…

Dave’s Insight for Tuesday:  higher Euro…higher bonds… Financials up…setting up a slightly higher open…Follow YOUR rules for entry, exits and stops...TRADE THE TREND…With extended profits be sure to adjust your stops…

The SPX, NDX and COMPQ hit a New High Close and the pre-market action looks like the SPX will continue its up trend…During the past 10 weeks the SPX has not had a correction of more than 33 points, a very stable trend during this low volatility period…

The intermediate term trend is still up…

Chart Signals will be watching the Euro, XLF and the VIX...the VIX continues to indicate stable trend…

SPX

Resistance: 1,370, 1,375, 1,388

Support: 1,361, 1,353, 1,347

Quoting Down – APOL, SWN, ESI, CRM, HLF, COH, CMG, TPX, DLR, SWI, CAT, GRMN, FOSL, PNRA, NFLX, ADBE, SHLD, TEVA, DLTR

Quoting Up – PCLN, SINA, ZAGG, WLT, SLW, FFIV, TLT, CDE, LNKD, CF, SWKS, SOHU, V, UNP, VRTX, BIIB, AAPL, GOLD, GOOG, FAST, ADSK, AMZN, FFIV, AVGO, ALXN, CTSH, MNST, STX, FSLR

Trading on SPX Rallies From Lower Open...PCLN Gaps Up 38 After-hours...

.
Six of nine sectors moved higher on Monday.  XLF, XLY and XLV were the strongest sectors.

On Monday the SPX, NDX and COMPQ each made a New Bull Market High Close.  The INDU and RUT closed slightly lower.

AAPL and PCLN rose as AMZN, BIDU, GOOG, NFLX and QCOM moved lower.   PCLN gapped up $38 in after hours trading following positive earnings.

Money Flow

Euro     -54 pips  1.3393

TNX     -0.55         19.22

TLT     +1.04       118.54

XLF     +0.11        14.78

SPX    +1.85    1,367.59

VIX      +0.88        18.19

SPX +0.14%

NDX +0.10%

COMPQ +0.08%

INDU -0.01%

RUT -0.03%

Money Flow was slightly atypical as the Euro and TNX moved lower.  The SPX, XLF and bonds TLT moved higher.  The VIX also moved higher.  The most recent SPX breakout has an intermediate term chart target of 1,428 within 12 weeks of the breakout.

The VIX did not confirm the SPX move on Monday.

(click image to enlarge)

Breadth weakened as advancers led decliners 1.00 to 1 on the NYSE and decliners led 1.19 to 1 on the NASDAQ.

Exchange        NYSE       NASDAQ

Advancers       1,497          1,142

Decliners         1,487          1,368

The Euro pulled back on Monday pausing before its 1.3534 chart target from its Jan 24 horizontal resistance breakout.  This breakout chart target also aligns with old resistance from Dec 1.

Support bounce entries on Monday included MU, AKAM, IL, ARUN, ZAGG, STI, COH, XRAY, FAS

Bull Flag Setups to watch on Tuesday – CREE, JDSU, GES, GRMN, ESI, MTW, NVDA, CIEN, NFLX, RCL, GMCR, ENTR, BAC, ADSK VRSN, SBUX, INTU, FLEX, INTC

(click image to enlarge)

 Leading stocks > +2% on Monday included LDK, IL, ARUN, ZAGG, CF, SWKS, SINA, STI, NTES, FAS, BAC

Losing stocks < -2.0% included KKD, UCO, ANR, MCP, VECO, PCX, DECK, ESI, WDC, CREE, FAZ, NVDA

NDX 100 stocks stronger than the NDX included MU, CTRP, NUAN, AVGO, LINTA, MNST, FSLR, SIRI, XRAY and ESRX.

Stocks weaker than the NDX include STX, RIMM, NVDA, NFLX, FLEX, ATVI, INFY, SRCL, APOL and WYNN.

One NDX stock CTRP closed above the 30 DMA and SBUX closed below the 30 DMA leaving 74 NDX stocks above their 30 DMA.

Stocks to Watch on Tuesday

Holding Above 30 DMA = 64

WDC, CMG, DOW, ENTR, FAS, SWK, NKE, CRUS, SMH, SWKS, JDSU, NGLS, BAC, CF, CHL, STI, A, C, CAT, TPX, ESI, KKD, CREE, GS, HLF, LNKD, LVS, SLW, CSTR, VECO, COH, CRM, FFIV, SLB, INFA, NTES, NVDA, SWI, VMW, IBM, ZAGG, TSLA, LDK, GES, JNPR, V, ICE, ZION, NDAQ, TIF, RVBD, SWN, UCO, ANF, CDE, DHR, MOS, POT, HAL, DLR, SNDK, URE, UNP

Moving Above 30 DMA = 3

ARUN, IL, TLT

Moving Below 30 DMA = 2

CIEN, GLW

Staying Below 30 DMA

CROX, DECK, MCP, TBT, TSL, F, HUM, RCL, SINA, UAL, WLT, DE, CLF, FCX, X, GRPN, ANR, PCX, SOHU, AKS, ATI, FAZ

Four Month Intermediate Term Market Trend: Up

Short Term Market Trend: Up

Futures Point to a Lower Open as Oil Rises...

BMO – ES -6.50 and NQ -10.25 futures are lower 30 minutes before the open in pre-market trading and point to a slightly lower open… volume is light for pre-market with more stocks quoting down than up…

XLF is down 8 cents on 14,500 shares in pre-market at this time…

FAS is down 1.33 …

TLT is up 76 cents…

the Euro is down 71 pips overnight trading and is forming a live dark cloud cover pattern …

NDX leaders AAPL, AMZN, BIDU, GOOG, NFLX and QCOM are lower…PCLN is flat…

Dave’s Insight for Monday:  lower Euro…higher bonds… Financials down…setting up a lower open…Follow YOUR rules for entry, exits and stops...TRADE THE TREND…With extended profits be sure to adjust your stops…

The SPX bounced and moved higher on Thursday and Friday, pre-market action looks like the SPX will continue its thrust-consolidate pattern of the last 10 weeks with consolidation on Monday…During the past 10 weeks the SPX has not had a correction of more than 33 points, a very stable trend during this low volatility period…

The intermediate term trend is still up…

Chart Signals will be watching the Euro, XLF and the VIX...the VIX continues to indicate stable trend…

SPX

Resistance: 1,361, 1,370

Support: 1,353, 1,347, 1,331, 1,315

Quoting Down – GOOG, NFLX, CMG, CRM, UNP, FAS, CAT, IBM, CF, UCO, GS, MCP, WLT, CLF, URE, RCL, SINA, DE, ANR, TPX, RVBD, NKE, COH, X, TBT, HUM, FOSL, AMZN, BIDU, FISV, AAPL, CTSH, TEVA, AKAM, GMCR, SHLD, COST, SBUX, XLNX, AMGN, DLTR, WYNN, QCOM, GILD, FSLR, VRTX, KLAC

Quoting Up – SWI, TLT, CDE, FAZ, A, DECK, LNKD, ESRX, INTU, MU, CHRW, EXPE

Trading SPX Bull Market High...Forex Euro Moves Higher...

.
Five of nine sectors moved higher on Friday.  XLK, XLV and XLU were the strongest sectors.

On Friday the SPX eclipsed its old bull market high of 1,363.61 made on Apr 26, 2011 and made a New Bull Market High Close at 1365.74.  The INDU dipped while the COMPQ and NDX both made a Bull Market New High Close on Friday.  The RUT also dipped and is now the remaining broad index still below its Bull Market High Close made Apr 29, 2011 at 865.29.   

AAPL, AMZN, BIDU, GOOG and PCLN rose as NFLX and QCOM moved lower.

Money Flow

Euro   +79 pips  1.3447

TNX     -0.07        19.77

TLT     +0.76      117.50

XLF     -0.05         14.67

SPX    +2.28   1,365.74

VIX     +0.51        17.31

NDX +0.36%

COMPQ +0.23%

SPX +0.17%

INDU -0.01%

RUT -0.28%

Money Flow was slightly atypical as the Euro moved higher and TNX and XLF  moved lower.  The SPX and bonds TLT moved higher.  The VIX also moved higher.  The most recent SPX breakout has an intermediate term chart target of 1,428 within 12 weeks of the breakout.

The VIX did not confirm the SPX move on Friday.

(click image to enlarge)

Breadth weakened as advancers led decliners 1.19 to 1 on the NYSE and decliners led 1.22 to 1 on the NASDAQ.

Exchange        NYSE       NASDAQ

Advancers       1,632          1,142

Decliners         1,362          1,401

The Euro continued to rise on Friday moving towards its 1.3534 chart target from its Jan 24 horizontal resistance breakout.  This breakout chart target also aligns with old resistance from Dec 1.

 ANR, CLF, PCX bounced up from support while CRM gapped up and DECK and CROX gapped down.

Bull Flag Setups to watch on Monday – CREE, JDSU, GES, GRMN, ESI, MTW, COH, NVDA, CIEN, NFLX, RCL, GMCR, ENTR

 (click image to enlarge)

Leading stocks > +2% on Friday included CRM, ANR, UCO, CRUS, CLF, ESI, NTES, ZAGG, CSTR, PCX

Losing stocks < -2.0% included DECK, TSL, MCP, CROX, CDE, KKD, TSLA, RCL

NDX 100 stocks stronger than the NDX included SHLD, CTRP, SIRI, MNST, FOSL, CTSH, AKAM, CTXS, MU and FISV.

Stocks weaker than the NDX include FSLR, MRVL, AVGO, GMCR, CMCSA, WCRX, KLAC, ADSK, EA and ALXN.

Three NDX stocks CTSH, MU and SIRI closed above the 30 DMA and two stocks EXPD and MRVL closed below making 74 NDX stocks above their 30 DMA.

Stocks to Watch on Monday

Holding Above 30 DMA = 63

WDC, CMG, DOW, ENTR, FAS, SWK, NKE, CRUS, SMH, SWKS, JDSU, NGLS, BAC, CF, CHL, STI, A, C, CAT, TPX, ESI, KKD, CREE, GS, HLF, LNKD, LVS, SLW, CSTR, VECO, COH, CRM, FFIV, SLB, INFA, NTES, NVDA, SWI, VMW, IBM, ZAGG, TSLA, LDK, GES, JNPR, V, ICE, ZION, NDAQ, TIF, RVBD, SWN, UCO, ANF, CDE, DHR, MOS, POT, HAL, DLR, SNDK, URE

Moving Above 30 DMA = 3

CIEN, GLW, UNP

Moving Below 30 DMA = 4

CROX, DECK, MCP, TBT

Staying Below 30 DMA

TSL, F, HUM, RCL, ARUN, SINA, UAL, WLT, DE, CLF, FCX, IL, X, GRPN, ANR, PCX, SOHU, AKS, TLT, ATI, FAZ

Four Month Intermediate Term Market Trend: Up

Short Term Market Trend: Up

SPX Makes New High Close as Euro, XLF Rise...

Dave just finished teaching 240 traders in San Francisco and 90 plus traders in Sacramento how to improve trading using technical analysis and will be flying home early Friday morning.  Next post will be Friday after the close.

Eight of nine sectors moved higher on Thursday.  XLF, XLP and XLE were the strongest sectors.

The SPX, INDU, COMPQ, NDX and RUT closed higher on Thursday.  AAPL, NFLX and QCOM rose as AMZN, BIDU, GOOG and PCLN moved lower.

Money Flow

Euro   +119 pips  1.3368

TNX     -0.21        19.84

TLT      -0.01      116.73

XLF     +0.14        14.72

SPX    +5.80    1,363.46

VIX      -1.39         16.80

RUT +1.56%

COMPQ +0.81%

NDX +0.59%

SPX +0.43%

INDU +0.36%

Money Flow was mostly typical as the Euro moved higher and XLF and SPX followed.  TNX was slightly lower and bonds TLT was near unchanged.  The VIX moved lower.  The most recent SPX breakout has an intermediate term chart target of 1,428 within 12 weeks of the breakout.

The VIX made its lowest close since July 8, 2011 did confirm the SPX move on Thursday.

Breadth strengthened as advancers led decliners 2.56 to 1 on the NYSE and 2.47 to 1 on the NASDAQ.

Exchange        NYSE       NASDAQ

Advancers       2,164          1,818

Decliners            843             735

The Euro continued to rise and broke through its early February short-term resistance area and is moving towards its 1.3534 chart target from its Jan 24 horizontal resistance breakout.

Our Bull Flag stocks were mixed again on Tuesday.  Thirteen moved higher and seventeen moved lower.  CSTR, MOS, STI, C, CERN, GRM, BAC and GMCR moved up more than 1%.  UAL, NFLX, RCL, GES, LNKD, VECO, JNPR, F and IL moved down more than 1%.

Bull Flag and Breakout Setups/Entries – JNPR, CREE, LNKD, GES, SWKS, BRCM, STI, FFIV, LVS, GLW, GS, GRMN, VECO, NFLX, C, CSTR, F, FAS, IL, MOS, RCL, UAL, FSLR, CERN, COST, CSCO, CTSH, WDC, GMCR, BAC…removed GILD due to gap down.

Leading stocks > +2% on Thursday included ICE, SWI, UCO, TPX, CIEN, VECO, DLR, IL, CRM, SNDK, SWKS, ARUN, FAS, CRUS, URE, SLW

Losing stocks < -2.0% included TSL, LDK, FAZ

NDX 100 stocks stronger than the NDX included SHLD, EBAY, FLEX, AVGO, CTRP, ALXN, SNDK, VRTX, STX and FOSL.

Stocks weaker than the NDX include FSLR, INTU, MU, GMCR, BRCM, AMAT, WYNN, GRMN, AMZN and CTSH.

Three NDX stocks DELL, EXPD and SNDK closed above the 30 DMA and two CTSH and MU closed below making 73 NDX stocks above their 30 DMA.

Stocks to Watch on Friday

Holding Above 30 DMA = 64

WDC, CMG, DOW, ENTR, FAS, SWK, NKE, CRUS, SMH, SWKS, JDSU, NGLS, BAC, CF, CHL, STI, A, C, CAT, TPX, ESI, KKD, CREE, GS, CROX, HLF, LNKD, LVS, SLW, TSL, CSTR, VECO, COH, CRM, FFIV, SLB, INFA, NTES, NVDA, SWI, VMW, IBM, ZAGG, TSLA, LDK, GES, JNPR, V, ICE, ZION, NDAQ, TIF, RVBD, SWN, UCO, ANF, DECK, CDE, DHR, MOS, TBT, HAL, MCP

Moving Above 30 DMA = 3

DLR, SNDK, URE

Moving Below 30 DMA = 1

TSL

Staying Below 30 DMA

CIEN, F, GLW, HUM, RCL, ARUN, SINA, UAL, DE, UNP, CLF, FCX, IL, X, GRPN, ANR, PCX, POT, MCP, SOHU, AKS, TLT, ATI, FAZ

Four Month Intermediate Term Market Trend: Up

Short Term Market Trend: Up

Futures Point to a Flat to Higher Open...SHLD to Gap Up...

BMO – ES +0.25 and NQ +4.25 futures are slightly higher 15 minutes before the open in pre-market trading and point to a slightly higher open… volume is light for pre-market with more stocks quoting up than down…

XLF is up 2 cents  on 46,400 shares in pre-market at this time…

FAS is up 45 cents …

TLT is down 80 cents…

the Euro is up 53 pips overnight trading …

NDX leaders AAPL, BIDU, GOOG and PCLN are higher…AMZN and NFLX are lower…

Dave’s Insight for Thursday:  higher Euro…lower bonds… Financials up…setting up a flat to higher open…Follow YOUR rules for entry, exits and stops...TRADE THE TREND…With extended profits be sure to adjust your stops…

With VIX remaining low the SPX continues to trade with the pattern of one thrust day and several consolidation narrow range days…the SPX had a thrust day on Thursday and its range was 7.17 on Wednesday, pre-market volume appears to suggest another narrow range consolidation type day…

SHLD is set to gap up…

The intermediate term trend is still up…

 Chart Signals will be watching the Euro, XLF and the VIX...the VIX continues to indicate stable trend…

SPX

Resistance: 1,361, 1,370

Support: 1,353, 1,347, 1,331, 1,315

Quoting Down – SINA, CMG, TLT, TSL, JNPR, WLT, CRM, FSLR, AMZN, ADBE, TEVA, AVGO, NFLX, LIFE, VMED

Quoting Up – SHLD, GOLD, AAPL, ISRG, INTU, PCLN, LNKD, ESIK, DECK, CDE, HAL, MOS, NGLS, FAS, SLB, SLW, CREE, NIKE, GS, ATI, CRUS, GOOG, ALXN, LINTA, VRTX, BIDU, WYNN, DTV, CTRP, GILD

SPX Closes Lower...

Six of nine sectors moved lower on Wednesday.  XLE, XLU and XLV were the strongest sectors.

The SPX and the other broad indexes pulled back modestly on Wednesday.  BIDU and PCLN rose as AAPL. AMZN, GOOG, NFLX and QCOM moved lower.

Money Flow

Euro    +25 pips   1.3249

TNX     -0.40         20.05

TLT    +1.45        116.74

XLF     -0.19          14.58

SPX    -4.55     1,357.66

VIX     +0.00         18.19

INDU -0.21%

SPX -0.33%

NDX -0.40%

COMPQ -0.52%

RUT -0.82%

Money Flow was atypical as the Euro moved higher and TNX, XLF and SPX moved lower.  Bonds TLT moved higher.  The VIX was unchanged.  The most recent SPX breakout has an intermediate term chart target of 1,428 within 12 weeks of the breakout.

The VIX was unchanged and did not confirm the SPX on Wednesday.

Breadth weakened as decliners led advancers 1.55 to 1 on the NYSE and 2.03 to 1 on the NASDAQ.

Exchange        NYSE       NASDAQ

Advancers       1,179             834

Decliners         1,828          1,695

The Euro continued to rise from its short-term support area towards it early February short-term resistance area.

Leading stocks > +2% on Wednesday included HLF, MOS, HAL, SLW, FAZ, MCP

Losing stocks < -2.0% included TSL, JDSU, CIEN, RCL, STI, ZION, IL, FAS, C, ATI, X, DOW, ANR, SINA, TBT, ENTR, GRPN, AKS, WLT, F, PCX

NDX 100 stocks stronger than the NDX included GRMN, INTU, MYL, MNST, BIDU, SHLD, ALXN, ROST, CTRP and MXIM.

Stocks weaker than the NDX include DELL, FSLR, NFLX, NUAN, AKAM, MU, YHOO, TEVA, INTC and VOD.

Three NDX stocks CHRW, CTXH and SPLS closed above the 30 DMA and seven DELL, EXPD, FSLR, NFLX, SIRI, TEVA and VOD closed below leaving 72 NDX stocks above their 30 DMA.

Stocks to Watch on Thursday

Holding Above 30 DMA = 63

WDC, CMG, DOW, ENTR, FAS, SWK, NKE, CRUS, SMH, SWKS, JDSU, NGLS, BAC, CF, CHL, STI, A, C, CAT, TPX, ESI, KKD, CREE, GS, CROX, HLF, LNKD, LVS, SLW, TSL, CSTR, VECO, COH, CRM, FFIV, SLB, INFA, NTES, NVDA, SWI, VMW, IBM, ZAGG, TSLA, LDK, GES, JNPR, V, ICE, ZION, NDAQ, TIF, RVBD, SWN, UCO, ANF, DECK, CDE, DHR, MOS, TBT, HAL

Moving Above 30 DMA = 1

MCP

Moving Below 30 DMA = 7

CIEN, DLR, F, GLW, HUM, RCL, URE

Staying Below 30 DMA

ARUN, SINA, UAL, DE, UNP, CLF, FCX, IL, X, GRPN, ANR, PCX, POT, MCP, SOHU, AKS, TLT, ATI, SNDK, FAZ

Four Month Intermediate Term Market Trend: Up

Short Term Market Trend: Neutral