Supply and Demand Battle to a Spinning Top on Wednesday...CSX Gains After-hours...

Six of ten sectors moved higher on Wednesday …XLRE, XLU and XLP were the strongest sectors while XLV was again the weakest sector.  Oil futures slipped -0.85 to close at 50.01.

Breadth strengthened as advancers led 1,555 to 1,445 on the NYSE and decliners led 1,449 to 1,327 on the NASDAQ.

Wednesday – strengthened, advancers led on the NYSE, +6

Tuesday – weakened, decliners led, +0

Monday – strengthened, advancers led, +9

Friday – weakened, decliners led, +0

Thursday – weakened, decliners led, +7

SPY up .28 at 213.71 on 73.8 million shares, 25% below average volume

VIX up .55 at 15.91

TLT up .13 at 132.96…on 7.5 million shares, 10% below average volume

Technical Commentary:

SPY +0.13%, DIA +0.09%, IWM -0.08%, QQQ -0.09%,

SPY, QQQ, IWM form small spinning top candles above support following Tuesday’s large red candles.

CSX +0.79, +2.62% after-hours on better than expected net income.

EPS Positive Reactions

COST, RHT, FDX, ADBE

EPS Negative Reactions

AA, FAST, ILMN, MU, PAYX, CCL

Consider moving up stops on short term bullish trades that could pull back.  All according to your profit protection rules.

Remember breakouts typically test about 70% of the time.

Technical analysis based trades should be closed before earnings. After-hours

Trade what you see, not…

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

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Strong Stocks: Setups and Moves You Can Use

Bull Flag Setups include: NVDA, CSX, JD, AKAM, SWKS, LRCX, LVS, WB, JPM, C, SCHW, ZION, BAC, ETFC, STT, MA, STI, GS, AMZN, TRIP, GT, NXPI, INTC, ADSK, APA, WDC, NFLX, PCLN, QCOM, HA, RCL, SYMC, NUE, X, STLD, IWM, SINA, UAL, GPRO, ISRG, ADBE, CAVM, SOXL, MS, NCLH, AAL, FB, BABA, URBN, RL, LITE,

Bull Flag Bounces include: AKS,

Horizontal Breakout Setups include: EXPE, FL, SCHN, SE, LMCA, FOSL, ULTA, CHK,

Horizontal Breakout include:

New Highs include: AAPL, NTES,

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

The SPY MFC green line is pointed down at 52, defensive. 

50 of 100 NDX stocks closed higher and one was unchanged on Wednesday.

36 NDX stocks are above their 30 DMA.

NDX Stocks to Watch on Thursday:

Moving Above 30 DMA = 2

CHKP, WFM

Moving Below 30 DMA = 2

EA, LLTC,

6-month Intermediate Term Market Trend: Up

3-day Short Term Market Trend: Down