Bull Markets Turns 7 Years Old Today...All Nine Sectors and Oil Celebrate by Rising...Trend Continuation Bull Flag Patterns are Forming...

All nine sectors moved higher on Wednesday…XLE, XLK and XLP were the strongest sectors while XLE was the weakest sector.  Oil futures rallied 1.85 to close at 38.18. 

                         

Breadth strengthened as advancers led decliners 2.33 to 1 on the NYSE and 1.48 to 1 on the NASDAQ.

Wednesday – strengthened, advancers led

Tuesday – weakened, decliners led

Monday – strengthened, advancers led

Friday – weakened, advancers led

Thursday - strengthened, advancers led

SPY up .98 at 199.38 on 94.8 million shares, 29% below average volume

VIX down .33 at 18.34…

TNX up .60 at 18.92…

TLT down .79 at 129.19…on 7.1 million shares, 25% below average volume

XLF up .03 at 21.94…on 48.6 million shares, 34% below average volume

AAPL up .09 at 101.12 on 27.2 million shares, 38% below average volume

FB up 1.58 at 107.51 on 20.4 million shares, 50% below average volume

Technical Commentary:

QQQ +0.64%, IWM +0.51%, SPY +0.49%, DIA +0.24%.

Today, Wednesday marks the seventh anniversary of the U.S. bull market that began on March 9, 2009.  Oil and stocks reversed Tuesday’s selloff and the broad market is forming a bull flag pattern.

SPY, QQQ, IWM, XLB, XLE, XLF, XLI, XLK and XLY are forming bull flag patterns.

QQQ was the strongest of the broad market ETFs on the strength of buying in MSFT, GOOG, FB, CSCO, INTC, BIDU and CMCSA.

SPX leaders CHK, DVN, FCX, CNX, MPC, NBL, WMB, MRO, MOS and APC are in bull flag patterns.

Trade what you see, not…

Stocks below support should generally be traded bearishly until a reversal pattern forms.

______________________

Strong Stocks: Setups and Moves You Can Use

Bull Flag Setups include:  SPY, QQQ, IWM, XLB, XLE, XLF, XLI, XLK, XLY, FOSL, FCX, WMB, ESV, LNC, WRK, AAPL, AVGO, ADBE, AMZN, ATVI, CMCSA, EA, INTC, JD, LRCX, NFLX, PCLN, PYPL, ROST, SBUX, CF, GPRO, GT, TASR, CAT, DD, DIS, GE, GS, JNJ, JPM, NKE, WDC, C, WFC, ETFC, MS, SCHW, CYBR, RIG, MU, NXPI, CAVM, QRVO

Bull Flag Bounces include: NFX, TSO, CPGX, MYL, GME, NWL, BIDU, CTB, GME,

Horizontal Breakout Setups include:  XLP, RHT,

WMT, CSCO, GLD, HD, KO, MCD, PG, PANW, UNH, XOM, XLP, XLV, CTXS, GILD, CELG, TRIP, EBAY,

Horizontal Breakouts include: XLU, SYMC,  

______________________

Short-term Movers:

SPX gainers:  CHK, URBN, MUR, CNX, MRO, SWN, RIG,HPE, APA, ESV, H, EOG, TSO, URI, MOS, COP, KMX, MPC, DVN, CVX, FE, CNP, JWN, HOG, EXC, PBI, NFX, DUK, KSS, SNI, 5

SPX losers:  HRB, FTR, KR, RCL, NKE, MS, V, MNK, OXY, UA, SIG, WYNN, GRMN 4

NDX gainers:  TSLA, CERN, ADSK, BBBY, VIAB, AVGO, WFM, SIRI, SWKS 3

NDX losers:  VRTX, REGN, ALXN, TRIP, BIIB, INCY, NCLH, ULTA, LBTYA, AMGN, SBAC, SBUX 4

YTD:

SPX Leaders:  NEM, KORS, URBN, CNX, FCX, FOSL, M, CTL, TSN, SE (240, +10)

SPX Losers: ESV, RCL, WMB, MPC, DVN, LNC, ADS, MS, CBG, WRK

NDX Leaders:  MAT, FAST, PCAR, PYPL, BBBY, HSIC, DISCK, FISV, KHC, CA (33, +2)

NDX Losers:  INCY, VRTX, ENDP, REGN, TRIP, ALXN, MU, WDC, ESRX, ILMN

DJI Leaders:  VZ, WMT, MMM, CAT, XOM, PG, KO, JNJ, CVX, UNH (14, +2)

DJI Losers: GS, AXP, BA, JPM, INTC, V, PFE, DIS, NKE, MSFT 

Remember:  “It’s a market of stocks, not just a stock market.”

Trade with the trend of the chart you are trading and continue to move your profit protection stops.  Continue to follow your rules.

The SPX MFC green line is the upper zone at 95. 

71 of 100 NDX stocks closed higher on Wednesday.

76 NDX stocks are above their 30 DMA.

NDX Stocks to Watch on Thursday:

Moving Above 30 DMA = 4

ESRX, FB, ILMN, MU

Moving Below 30 DMA = 3

CELG, SBAC, VOD

6-month Intermediate Term Market Trend: Neutral

3-day Short Term Market Trend: Neutral