Trading SPX Continues Support Bounce...GOOG Record Q1...CSTR Raises Forecast...

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All nine sectors moved up on Thursday, XLB, XLE and XLI were the strongest sectors.

Breadth continued strong as advancers led decliners 4.61 to 1 on the NYSE and 2.90 to 1 on the NASDAQ.

Exchange        NYSE       NASDAQ

Advancers      2,484           1,862

Decliners           538              642

SPY rose $1.79 on 154.3million shares.

GOOGLE reports 61% increase in Q1 profits on slightly better than expected sales.

CSTR gaps up 14% after the close, after raising its first quarter and 2012 forecasts.

New High – CMG, LVS, CREE, BIDU, SBUX

Support bounce – BAC, CHL, CIEN, CROX, FAS, GLW, HUM, IBM, INFA, JDSU, LNKD, SWI, SWKS, TPX, ZAGG, UAL, ADBE, ADSK, AKAM, BRCM, GOOG, KLAC, NFLX, QCOM, XLF, XLB

Support bounce set up – CSTR, VMW, MCP, NTES, PCLN, CTXS, FOSL, NTAP, NVDA,

Leading NDX 100 stocks included GOLD, NFLX, STX, EA, BIDU, QCOM, CTRP, NWSA, APOL, CMCSA

Lagging NDX stocks included FSLR, FAST, MNST, AAPL, CERN,MU, COST, WCRX, FOSL

Leading stocks > +2% on Thursday included ANR, LNKD, PCX, X, AKS, CLF, SINA, FCX, ATI, FAS, CDE, MCP, CREE, CIEN, CROX, GS, SOHU, GRPN, BAC, VECO, SLB, RVBD, JDSU, CA, V, ESI, URE, CRUS, SWKS, WDC, A, CMG, MOS, DE, RCL, UAL, ZAGG, SWK, UCO

Losing stocks < -2.0% included FAZ, CSTR

Stocks to Watch on Friday

Holding Above 30 DMA = 18

CMG, LNKD, LVS, CRM, VMW, MCP, ZAGG, HUM, TLT, CHL, CIEN, CREE, CROX, JNPR, NTES, TPX, UAL, ZION

Moving Above 30 DMA = 18

AKS, ANR, BAC, CLF, CRUS, DHR, DLR, ESI, FAS, GLW, IBM, INFA, SMH, SOHU, STI, URE, V, X

Moving Below 30 DMA = 2

CSTR, FAZ

Staying Below 30 DMA

NKE, A, DE, HLF, SWK, TBT, ANF, F, JDSU, WDC, C, GS, RVBD, SWI, SWKS, TSLA, COH, RCL, TIF, GRPN, MOS, UCO, VECO, ICE, SINA, TSL, ATI, GES, CDE, LDK, SLB, DECK, FCX, PCX

Six Month Intermediate Term Market Trend: Up

Short Term Market Trend: Up