Futures Point to a Higher Open...

BMO – ES +5.00 and NQ +8.00 futures are up about 30 minutes before the open in pre-market trading and point to a higher open on Tuesday… volume is light for pre-market with more stocks quoting up than down…Financial stocks, XLF is quoting up 6 cents on 19,000 volume in pre-market...

TLT is down 3 cents and the Dollar is lower while the Euro is up 60 pips in premarket trading…

NDX leaders AAPL, AMZN, BIDU GOOG, NFLX and PCLN are higher in pre-market trading…QCOM is slightly lower…

Dave’s Insight for Tuesday:  Continue to follow your rules…Take support bounce trades according to your rules…XLF is up and looks to support a support bounce that could occur in the SPX…Manage your trades based on the price action you see on the chart you are trading…A break above the high of the low day on the SPY is 132.46 and price is just above that level pre-market trading…

SPX

Resistance: 1,321, 1,330, 1,344

Support: 1,310, 1,300, 1,288

Quoting Down – FWLT, FAZ, CTRP, INFY, NTAP

Quoting Up – CRM, UCO, CREE, WLT, SINA, ESI, NTES, MCP, CMG, CLF, SOHU, FCX, CHL, DE, GS, HUM CAT, SLW, MOS, SLB, ARUN, A, X, GCMR, TIF, POT, CDE, AGU, PCX, CF, GES, FAS, LVS, CAM, PCLN, NFLX, GOOG, FFIV, BIDU, AAPL, WYNN, FSLR, AMZN, MICC, EXPE, JOYG, CTXS, BRCM, MYL ADBE, VRTX, BBBY, AKAM

SPX Falls to 1,312 Support Area...KKD Rises 25.78% as People Eat More Donuts...

The SPX formed large black candle and closed -15.90 at 1,317.37, with price reaching an intraday low at 1,312 near its price channel support.  The SPX is in a three week consolidation downward sloping price channel or complex flag which indicates a potential price target around 1,310.  Look for a potential support bounce in this area although some smaller range bullish candle may appear on Tuesday before a bounce might begin.  Also stayed prepared for a break of support. 

The SPY price channel indicates a potential price target around 131 and made an intraday low at 131.59 before bouncing and forming a doji.  Potential support bounce entry would be above 132.46.   The VIX opened higher and closed lower than its open forming a black candle.

KKD +25.78% gaining +1.25 after reporting strong revenues and earnings as people ate more donuts than analysts expected.  Could this be the reason for Monday’s selloff?

(click image to enlarge)

SPX large black candle, close below 30 DMA -1.19%

INDU large black candle, close below 30 DMA -1.05%

COMPQ gap down spinning top, close below 30 DMA -1.58%

RUT gap down large black candle, below 30 DMA -1.81%

Breadth weakened as decliners led advancers 3.89 to 1 on the NYSE and 4.29 to 1 on the NASDAQ …

Exchange       NYSE        NASDAQ

Advancers         616               496

Decliners        2,400            2,130

Index              Chg.    Close    Direction    Confirmation

VIX                 +0.84    18.27     Up              Yes – SPX

SOX                -9.22   423.34     Down         Yes – COMPQ

(click image to enlarge)

Leading stocks > +2% on Monday included KKD, CF, FAZ, POT, MOS, GMCR

Losing stocks < -2.0% included SINA, SOHU, LDK, NTES, UCO, PCX, FWLT, FAS, NETL, LVS, JEC, JDSU, A, JNPR, TSL, MCP, SWK, SWKS, ATW, STI, GES, CAM, GLW, CAT, ESI, NDAQ, URE

Positives – NFLX, VIX black candle, TNX white candle,

Negatives – SPX, VIX, INDU, COMPQ, RUT, XLF, SOX, breadth and sectors weakened, AMZN, BIDU, GOOG, PCLN, QCOM

Interest rates TNX -0.18 moved lower but closed above their open.  Bond ETF TLT moved up 46 cents.  The Euro moved down 95 pips to 1.4056 at 5 pm on Monday.

All nine sectors moved lower on Monday.  Consumer Staples XLP -0.69% and Consumer Discretionary XLY -0.94% were the strongest sectors.  Financials XLF -1.40% was the fourth weakest sector closing below horizontal support and forming an inverted hammer.

SPX

Resistance: 1,321, 1,330, 1,344

Support: 1,310, 1,300, 1,288

The short term 3 day trend is down.

The six-month trend is up.

The twelve-month trend is up.

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 -0.82 – large white candle, below 30DMA

AMZN -2.43 – hammer, above 30 DMA

BIDU -5.22 – gap down spinning top, below 30 DMA

GOOG -5.64 – gap down spinning top, below 30 DMA

NFLX +1.93 – white candle at resistance, close above 30 DMA

PCLN -18.42 – gap down large black candle bear flag, below 30 DMA

QCOM -1.00 – hammer, above 30 DMA

NDX 100 stocks stronger than the NDX include SPLS, ORLY, VRTX, NFLX, DTV, FLEX, GENZ, MRVL, RIMM, CEPH, EXPE and NVDA.

Stocks weaker than the NDX include CTRP, BIDU, INTU, PCLN, DELL, ORCL, WCRX, JOYG, SRCL, MU, ALTR, QGNE, AKAM, XLNX and EBAY.

Stocks to Watch on Tuesday

Holding Above 30 DMA

HUM, HLF, CSTR, ANF, DLR, TIF, TLT, MHS, UNP, VECO, HAS, UAL, GMCR, KKD, RVBD, FAZ, ACN, ICE, CMG, SWN, VMW, CF, CREE, CRM, IAG

Moving Above 30 DMA = 0

Moving Below 30 DMA = 9

A, ATW, DHR, GES, JDSU, JNPR, SMH, SWK, URE

Staying Below 30 DMA

ARUN, STI, V, AMD, ESI, GLW, SNDK, ATI, CIEN, NYX, CHL, DOW, F, NVDA, FWLT, ZION, CAT, IL, NDAQ, SWKS, VLO, WDC, MCP, SINA, WLT, UNG, FAS, LVS, SOHU, UCO, ANR, DE, NETL, NGLS, PCX, AGU, AKS, FCX, IPI, LDK, SLB, TSL, CLF, DECK, NTES, POT, JEC, SLW, GS, CDE, TBT, MOS, X, CAM, BAC, CRUS

Intermediate Term Market Trend: Up

Short Term Market Trend: Down

Futures, Stocks Point to a Lower Open as People Eat More Donuts...KKD Up...

BMO – ES -11.75 and NQ -23.00 futures are down about 30 minutes before the open in pre-market trading and point to a lower open on Monday… volume is moderate for pre-market with more stocks quoting down than up…Financial stocks, XLF is quoting down 15 cents on 76,800 volume in pre-market…European markets were lower over-night as new debt concerns in Italy and Spain arise…the Dollar is higher and the Euro lower…

As mentioned in Friday’s post, we look for the selloff to move to the lower end of the SPX price channel this week…Many stocks are likely to give short term bullish exit signals and short term bearish entry signals today following the SPY and other stocks that gave signals on Friday...

TLT is up 43 cents and the Euro is down 128 pips in premarket trading…

Apparently people are eating more donuts and KKD +0.79 reported earnings better than expectations…

NDX leaders AAPL, AMZN, BIDU GOOG, NFLX, PCLN and QCOM are lower in pre-market trading…

Dave’s Insight for Monday:  Continue to follow your rules…XLF is weak and looks to support the selloff that is taking place pre-market …Gap lower opens sometimes bounce during the first hour…if a bounce does occur and fails to fill the gap look for selling to resume…Manage your trades based on the price action you see on the chart you are trading…Horizontal support on SPY is 133 and it is below that in pre-market trading…

SPX

Resistance: 1,344, 1,352, 1,367

Support: 1,330, 1321, 1,310

Quoting Down – CMG, SINA, UCO, WLT, CAT, CRM, MCP, DECK, SWN, CLF, AGU,UNP, VMW, SLB, DE, DOHU, ATW, GS, HAS, FWLT, POT, ARUN, URE, NAR, ANF, RVBD, NYX, CF,DLR, SNDK, V, CHL, FAS, VECO, JDSU, CREE, SWKS, GMCR, LVS, SWK, TSL, CIEN, PCX, SLW, JNPR, DOW, AAPL, AMZN, BIDU, GOOG, NFLX, PCLN, QCOM, ISRG, WYNN, JOYG, FSLR, FFIV, NTAP, COST, MICC, CTSH, BIIB, XLNX

Quoting Up – FAZ, ACN, TLT, TIF

SPX Closes Lower on Weak Financials and Strong Dollar...

The SPX formed an evening star pattern and closed -10.33 at 1,333.27, creating a short exit signal for some traders and a bear flag or resistance price channel entry.  The SPX is in a three week consolidation downward sloping price channel or complex flag which indicates a potential price target around 1,310 with Friday’s bounce down from resistance.  The SPY price channel indicates a potential price target around 131.  The VIX rose to 17.43 confirming the SPX move lower.

(click image to enlarge)

SPX evening star, close below 30 DMA -0.77%

INDU bearish engulfing, close below 30 DMA -0.74%

COMPQ black candle, close below 30 DMA -0.71%

RUT evening star confirms hanging man, below 30 DMA -0.73%

(click image to enlarge)

AAPL reverses down at 30 DMA, bear flag entry on Friday

AMZN relatively strong on Friday, potential lower high above 30 DMA

BIDU in bear flag below 30 DMA, watch for potential entry signal on Monday

GOOG reverses down below 30 DMA, bear flag entry on Friday

NFLX moves higher, near short term resistance at 249, above 30 DMA

PCLN in bear flag below 30 DMA, watch for potential entry signal on Monday

QCOM moves up, at short term resistance of 57, above 30 DMA

Breadth weakened as decliners led advancers 1.92 to 1 on the NYSE and 1.59 to 1 on the NASDAQ …

Exchange       NYSE        NASDAQ

Advancers      1,029            1,086

Decliners        1,981            1,733

Index              Chg.    Close   Direction    Confirmation

VIX                 +1.91    17.43      Up             Yes – SPX

SOX                -1.31   432.56      Down        Yes – COMP

Leading stocks > +2% on Friday included CRM, UNG, FAZ, SWN, UCO

Losing stocks < -2.0% included ARUN, LDK, GES, FAS, GS, STI, POT, WLT, PCX, CLF, NDAQ, ATI, DOW, FWLT, URE

Positives – NFLX

Negatives – SPX, VIX, INDU, COMPQ, RUT, TNX, breadth and sectors weakened, AAPL, GOOG,

Interest rates TNX -0.19 moved lower and bond ETF TLT moved up 5 cents.  The Euro moved down 158 pips to 1.4151 at 5 pm on Friday.

All nine sectors moved lower on Friday.  Utilities XLU -0.12% and Energy XLP -0.12% were the strongest sectors.  Financials XLF -1.38% was the weakest sector closing near horizontal support.  If Financials break horizontal support, then the probability of the SPX heading lower than the range of its current price channel will increase.

   

SPX

Resistance: 1,344, 1,352, 1,367

Support: 1,330, 1321, 1310

The short term 3 day trend is neutral.

The six-month trend is up.

The twelve-month trend is up.

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 -5.31 – large black candle confirms hanging man, below 30DMA

AMZN -0.15 – spinning top, above 30 DMA

BIDU -1.19 – bearish harami, below 30 DMA

GOOG -7.22 – large black candle confirms shooting star, below 30 DMA

NFLX +3.17 – white candle, close above 30 DMA

PCLN -2.02 – second potential shooting star, below 30 DMA

QCOM +0.08 – spinning top, above 30 DMA

NDX 100 stocks stronger than the NDX include AKAM, STX, GILD, NVDA, CTXS, NFLX, LRCX, EXPE, ALTR, CHKP, FLEX, CA, BIIB, VOD and VRTX.

Stocks weaker than the NDX include ADSK, URBN, SHLD, XRAY, DELL, BBBY, MICC, WFM, AMAT, MU, INTU, RIMM, PCAR, AAPL and FSLR.

Stocks to Watch on Monday

Holding Above 30 DMA

HUM, HLF, CSTR, DHR, A, ANF, DLR, TIF, URE, TLT, MHS, GES, SMH, UNP, VECO, HAS, UAL, GMCR, RVBD, FAZ, JNPR, ACN, ICE, CMG, SWN, VMW, ATW, CF, CREE, JDSU, SWK, CRM, IAG

Moving Above 30 DMA = 0

Moving Below 30 DMA = 3

ARUN, STI, V

Staying Below 30 DMA

AMD, ESI, GLW, SNDK, ATI, CIEN, NYX, CHL, DOW, F, NVDA, FWLT, ZION, CAT, IL, NDAQ, SWKS, VLO, WDC, MCP, SINA, WLT, UNG, FAS, LVS, SOHU, UCO, ANR, DE, NETL, NGLS, PCX, AGU, AKS, FCX, IPI, LDK, SLB, TSL, CLF, DECK, NTES, POT, JEC, SLW, GS, CDE, TBT, MOS, X, CAM, BAC, CRUS

Intermediate Term Market Trend: Up

Short Term Market Trend: Neutral

Futures Point to Lackluster Open on Expiration Friday...CRM Up, ARUN Down...

BMO – ES -2.25 and NQ -3.75 futures are slightly higher about 20 minutes before the open in pre-market trading and point to a flat to lower open on expiration Friday… volume is light for pre-market with a slightly more stocks quoting down than up…Financial stocks, XLF is quoting down 3 cents on 51,500 volume in pre-market…

TLT is down 46 cents and the Euro is down 62 pips in premarket trading…

CRM +9.37 is up and ARUN -1.69 is down after reporting earnings…

NDX leaders AAPL, AMZN, BIDU GOOG, NFLX and PCLN are quoting down in pre-market trading… QCOM is up…

Dave’s Insight for Friday:  Today is options expiration for May…recently expiration trading tends to be range bound…pre-market activity seems to suggest a lackluster day with the VIX once again near multi-year lows…Keep in mind pin risk, the tendency to close near a strike price,  for major stocks like AAPL and GOOG…Continue to follow your rules…Continue to watch XLF for support of a SPX bounce…Manage your trades based on the price action you see on the chart you are trading…Horizontal support on SPY is 133 and it is above that in pre-market trading…

SPX

Resistance: 1,344, 1,352, 1,367

Support: 1,330, 1321, 1,310

Quoting Down – ANF, ARUN, NFLX, ROST, INTU, PCLN, ALXN, AAPL, URBN, ISRG, ESRX, MICC, CELG, AMZN, GOOG, ADSK, FSLR, CMG, GS, LDK, WLT, TIF, URE, ICE, MOS, TLT, NYX, CLF

Quoting Up – CRM, VMW, CTXS, AKAM, DLTR, FFIV, GILD, INFY, CERN, MYL, RVBD, VECO, V, CSTR, FAZ, CAM, TBT, UCO

SPX Inches Higher as Financials, Interest Rates Fail to Move Higher...

The SPX formed a white spinning top and closed +2.92 at 1,343.60, a horizontal resistance level.  The VIX fell to 15.52 confirming the move higher.

(click image to enlarge)

SPX spinning top, close above 30 DMA +0.22%

INDU spinning top, close above 30 DMA +0.36%

COMPQ doji, close above 30 DMA +0.30%

RUT potential hanging man, at 30 DMA +0.21%

Breadth weakened as advancers led decliners 1.45 to 1 on the NYSE and 1.01 to 1 on the NASDAQ …

Exchange       NYSE        NASDAQ

Advancers      1,774            1,316

Decliners        1,220            1,306

Index              Chg.    Close   Direction    Confirmation

VIX                 -0.71     15.52      Down           Yes – SPX

SOX               -3.72   433.87      Down           No – COMPQ

Leading stocks > +2% on Thursday included SINA, MCP, FWLT, IAG, UAL, RVBD, CIEN

Losing stocks < -2.0% included NETL, LDK, TSL, MOS, POT, UNG, ATI, UCO, WLT

Key Earnings this week:  ADSK, ANF, ARUN, CRM, DE, DELL, HPQ, LDK, TSL, HD, JCP, LOW, WMT, GME, SHLD, TGT

Positives – VIX, breadth and sectors were positive, AMZN, BIDU, QCOM

Negatives – TNX, breadth and sectors weakened

Interest rates TNX +0.00 was unchanged and bond ETF TLT moved down 4 cents.  Financial stocks XLF closed unchanged. The Euro moved up 61 pips to 1.4309 at 5 pm on Thursday.

Six of nine sectors moved higher on Thursday.  Industrials XLI +0.64% and Consumer Staples XLP +0.56% were the strongest sectors.  Financials XLF closed unchanged.

SPX

Resistance: 1,344, 1,352, 1,367

Support: 1,330, 1321, 1310

The short term 3 day trend is up.

The six-month trend is up.

The twelve-month trend is up.

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 +0.66 – potential hanging man, below 30DMA

AMZN +1.71 – spinning top, above 30 DMA

BIDU +4.04 – large white candle, below 30 DMA

GOOG +1.44 – potential shooting star, below 30 DMA

NFLX +0.19 – spinning top, close above 30 DMA

PCLN +3.72 – potential shooting star, below 30 DMA

QCOM +0.85 – white candle, above 30 DMA

NDX 100 stocks stronger than the NDX include CTRP, BIDU, INTU, DLTR, YHOO, EXPE, LINTA, VOD, ORCL, NTAP, FLIR, ADBE, QCOM, ATVI and SBUX.

Stocks weaker than the NDX include KLAC, ORLY, RIMM, SHLD, DELL, BRCM, STX, ALTR, ALXN, NVDA, INTC, ROST, LRCX, AMAT and VRTX.

Stocks to Watch on Friday

Holding Above 30 DMA

HUM, HLF, CSTR, DHR, A, ANF, DLR, TIF, V, URE, TLT, MHS, GES, SMH, UNP, VECO, HAS, UAL, GMCR, RVBD, FAZ, JNPR, ACN, ICE, CMG, SWN, VMW, ARUN, ATW, CF, CREE, JDSU, STI, SWK

Moving Above 30 DMA = 2

CRM, IAG

Moving Below 30 DMA = 1

AMD

Staying Below 30 DMA

ESI, GLW, SNDK, ATI, CIEN, NYX, CHL, DOW, F, NVDA, FWLT, ZION, CAT, IL, NDAQ, SWKS, VLO, WDC, MCP, SINA, WLT, FAS, LVS, SOHU, UNG, UCO, DE, NETL, NGLS, PCX, AGU, AKS, FCX, IPI, LDK, SLB, TSL, CLF, DECK, NTES, POT, JEC, SLW, GS, CDE, TBT, MOS, X, CAM, BAC, CRUS

Intermediate Term Market Trend: Up

Short Term Market Trend: Up

Futures Point to a Higher Open Following Wednesday's Support Bounce...

BMO – ES +3.50 and NQ +3.25 futures are slightly higher about 90 minutes before the open in pre-market trading and point to a higher open… volume is light for pre-market with more stocks quoting up than down…Financial stocks, XLF which formed a white candle on Wednesday is quoting up 1 cent on 900 volume in pre-market…

TLT is down 12 cents and the Euro is up 13 pips in premarket trading…

NDX leaders AAPL, AMZN, BIDU and NFLX are quoting up in pre-market trading… QCOM and PCLN are lower and GOOG is flat…

Dave’s Insight for Thursday:  The SPX confirmed Tuesday’s hammer on Wednesday forming a large white candle and a morning star pattern…the SPX looks poised to continue its bounce this morning…Many stocks produced potential entry signals and an upward momentum shift on Wednesday…Continue to follow your rules…Continue to watch XLF for support of a SPX bounce…Manage your trades based on the price action you see on the chart you are trading…Horizontal support on SPY is 133 and it is above that in pre-market trading…

SPX

Resistance: 1,344, 1,352, 1,367

Support: 1,330, 1321, 1,310

Quoting Down – PCLN, KLAC, HUM, NTES, MHS, SMH, ICE, MOS, WYNN, CELG, ORLY, DTV, INTC, QCOM, VRSN, ADSK, AMAT, GILD

Quoting Up – MCP, ROST, DLTR, CRM, JNPR, CAT, UCO, UNP, RVBD, ANF, URE, VMW, CREE, SWKS, TIF, GS, POT, FCX, X, AAPL, LRCX, AMZN, NFLX, BIDU, FSLR, RIMM, ISRG, VOD, CTSH

Now You Know Why I Was Singing, If I Had a Hammer...SPX Rises...



The SPX formed a large white candle that confirmed Tuesday’s hammer as it continue its support bounce from its 61.8% Fib level measured from its April 18 low and closed +11.70 at 1,340.68.  The VIX fell to 16.23 confirming the support bounce.

Each of the broad indexes confirmed Tuesday’s bullish candle and moved higher.  The SPX, INDU, COMPQ and NDX closed above its 30 DMA. 

Perhaps a few more see that complex consolidations or price channels can produce entry signals.

As I wrote yesterday, “it is important for you to see them in context of trend, support and resistance and the momentum of the Tuesday’s bullish candle, so that you can take lower risk higher return potential entries as they occur.”

I did move the stop down on Monday night’s SPY Put paper money virtual trade from $135.46 to $133.65 which was above the high of the low day and was stopped out early today with a loss.  This is consistent with what I said Monday night and what I wrote last night.

(click image to enlarge)

SPX large white candle confirms hammer, close above 30 DMA +0.88%

INDU bullish engulfing, close above 30 DMA +0.65%

COMPQ morning star, close above 30 DMA +1.14%

RUT morning star, below 30 DMA +1.60%

Breadth strengthened significantly as advancers led decliners 3.56 to 1 on the NYSE and 2.84 to 1 on the NASDAQ …

Exchange       NYSE        NASDAQ

Advancers      2,363            1,923

Decliners           663               677

Index              Chg.    Close   Direction    Confirmation

VIX                -1.32      16.23      Down          Yes – SPX

SOX              +8.11    437.59      Up               Yes – COMPQ

Leading stocks > +2% on Wednesday included VECO, ARUN, UCO, CF, SWKS, RVBD,FCX, JDSU, IPI, ATW, ANF, CRM, CAT, HUM, CLF, IAG, GMCR, PCX, SWK, VLO, TBT, FWLT,DHR, TIF, POT, NVDA, VMW, UNP, AKS, SMH, DEC, AGU, NGLS, URE, SLB

Losing stocks < -2.0% included ESI

Key Earnings this week:  ADSK, ANF, ARUN, CRM, DE, DELL, HPQ, LDK, TSL, HD, JCP, LOW, WMT, GME, SHLD, TGT

Positives – SPX, VIX, INDU, COMPQ, RUT, breadth and sectors strengthened, AAPL, AMZN, NFLX, PCLN, TNX

Negatives – TLT

Interest rates TNX +0.50 moved down and bond ETF TLT moved down -$1.28.  Financial stocks XLF rose 7 cents. The Euro moved up 12 pips to 1.4248 at 5 pm on Wednesday.

Eight of nine sectors moved higher on Wednesday.  Materials XLB +2.23%, Energy XLE +2.02% and Industrials XLI +1.58% were the strongest sectors.

Material stocks rising more than 2% included CF, MON, FCX, WY, ECL, EMN, OI, PX, AKS, APD, BLL

Many stocks that have pulled back over the past week and formed bullish candles on Tuesday created support bounce potential entry signals for some traders today. 

Support Bounce Potential Entries on Up Trending Stocks:  CERN, DLTR, ADP, EXPE, SIAL, MCHP, CHRW, CTXS, HSIC, VMED, COST, EXPD, ORLY, ALTR, DELL, LLTC, DTV, FLIR, INTC, MXIM, NTAP, AMGN, XRAY, XLNX, ERTS, VRSN, HUM, HLF, DHR, ANF, DLR, TIF, URE, VECO, GMCR, RVBD, CMG, SWN, VMW, FFIV

Up trending stocks include:  MICC, CELG, SYMC, CHKP, ILMN, LIFE, LINTA, VRTX, ROST, QCOM, FAST, NIHD, ESRX, BMC, ADSK, ADBE, WCRX, CSTR, A, V, TLT, MHS, GES, HAS, UAL, ACN

SPX

Resistance: 1,344, 1,352, 1,367

Support: 1,330, 1321, 1310

The short term 3 day trend is up.

The six-month trend is up.

The twelve-month trend is up.

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 +3.75 – white candle, below 30DMA

AMZN +2.28 – white candle, confirms inside day, above 30 DMA

BIDU +0.03 – spinning top, below 30 DMA

GOOG -0.65 – dragonfly doji, below 30 DMA

NFLX +5.60 – white candle confirms hammer, close above 30 DMA

PCLN +13.98 – white candle confirms hammer, below 30 DMA

QCOM +0.10 – spinning top, above 30 DMA

NDX 100 stocks stronger than the NDX include DELL, FFIV, EXPE, CERN, VRSN, BRCM, RIMM, SBUX, ALTR, JOYG, XLNX, WYNN, PCLN, NTAP and NFLX.

Stocks weaker than the NDX include MU, CTRP, SNDK, ILMN, LIFE, MCHP, JOYG, KLAC, ADSK, FLEX, AKAM, PCAR, NTAP, QGEN and ALTR.

Stocks to Watch on Thursday

Holding Above 30 DMA

HUM, HLF, CSTR, DHR, A, ANF, DLR, TIF, V, URE, TLT, MHS, GES, SMH, UNP, VECO, HAS, UAL, GMCR, RVBD, FAZ, JNPR, ACN, ICE, CMG, SWN, VMW

Moving Above 30 DMA = 8

AMD, ARUN, ATW, CF, CREE, JDSU, STI, SWK

Moving Below 30 DMA = 0

Staying Below 30 DMA

ESI, GLW, SNDK, ATI, CIEN, CRM, NYX, CHL, DOW, F, NVDA, FWLT, ZION, CAT, IL, NDAQ, SWKS, VLO, WDC, MCP, SINA, WLT, FAS, LVS, SOHU, UNG, UCO, DE, NETL, NGLS, PCX, AGU, AKS, FCX, IPI, LDK, SLB, TSL, CLF, DECK, NTES, POT, JEC, SLW, IAG, GS, CDE, TBT, MOS, X, CAM, BAC, CRUS

Intermediate Term Market Trend: Up

Short Term Market Trend: Up