QQQ, SPY Make New All-time Closing High…AMZN, GOOGL, ADBE, EA, HAS, V, ATVI, PYPL, SQ, MAR, Also Hit New All-time Closing Highs…

QQQ and SPY make new all-time closing high

QQQ, SPY, DIA are horizontal resistance breakout setups on Wednesday.

Eight sectors were positive, led by materials XLB and utilities XLU.

SPY up 0.56 at 240.61 on 49.1 million shares, 34% below average.

VIX falls -0.70 to 10.02.

Oil down -0.19 to 51.30

TLT up 0.69 at 123.23…on 7.4 million shares

GS +1.91% for the second day and KO +1.44% lead the DJIA.

NRG +5.54%, AES +3.34%, and WRK +3.06% led the SPX.

INTU +6.72% following earnings, CHTR +3.22%, MAT +3.03% and EA +3.03% led the NDX.

Intermediate and long term up trend intact.  3-day short term trend is up.

Up: QQQ, DIA, SPY, IWM

Down:

Uptrend sectors:  XLK, XLY, XLRE, XLV, XLI, XLP, XLU

Breadth weakened slightly as advancers led 1,648 to 1,261 on the NYSE and led 1,420 to 1,297 on the NASDAQ.

The SPY MFC green line is pointed up at 80, bullish.

Look for a potential bounce in: HD, TSLA, XLNX, XLY, WMT, AAPL, WB, JD, BABA, DDD, SHOP, TLT, NTES, CC, HUN, MOMO,

(click image to enlarge)

One Day Pullback:

Bounces included: FB, ANET, MCD,

Break of short-term support:

Potential Breakouts include: QQQ, SPY, DIA, SBUX, MCHP, SWKS, MU, BIDU, CSX, KLAC, RACE, UNH, AVGO, RCL, WDC, AMAT, YHOO, COST, NFLX, EXPE, MSFT,

Breakouts: NVDA, PYPL, EA, V, HAS,

New Highs SQ, AMZN, ADBE, PYPL, EA, HAS, MAR, GOOGL, ATVI, V, BBRY, LRCX,

67 of 100 NDX stocks closed higher on Tuesday.

65 NDX stocks are above their 30 DMA.

NDX Stocks to Watch on Wednesday:

Moving Above 30 DMA = 4

INTC, LVNTA, TXN, VRSK

Moving Below 30 DMA = 2

XRAY, ULTA

The intermediate and long-term trends are still up.

6-month Intermediate Term Market Trend: Up

3-day Short Term Market Trend: Up

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