QQQ Near Record Close as SPY, DIA Hit New Highs Again...IWM, MU, AMAT Take a Breather...

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After the Close Review of Wednesday’s action… SPY, QQQ, AAPL, MSFT, AMZN, FB, GOOG, GOOGL, DIA, AMAT, BIDU, JBHT, LRCX, MAR, MU, PYPL, SYMC, WYNN, EBAY, ESRX, TSCO, TSLA, CTRP, NFLX, PCLN, ADI…

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Six sectors were higher on Wednesday, led by utilities XLU +1.00% and real estate XLRE +0.87%.

SPY up .30 at 253.16 on 55.9 million shares, 11% below average volume.  Up on lower volume.

VIX up .12 at 9.63

Oil down .28 to 49.90

TLT up .01 at 124.41…on 7.4 million shares, 13% below average.  Up on higher volume. 

NKE +1.19%, and CAT +0.98%, led the DJIA, 16 advancers.

AYI +5.11%, TRIP +3.73% and ETR +3.61% led the SPX.

MYL +16.20%, NFLX +2.94%, XRAY +2.80%, DLTR +2.57%, and SIRI +2.32%, led the NDX.

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

Up: SPY, QQQ, DIA,

Down: IWM,

Breadth weakened on Wednesday as decliners led 1,457 to 1,393 on the NYSE and led 1,462 to 1,384 on the NASDAQ.

The SPY MFC green line is in upper zone at 99, bullish.

Uptrend sectors:  XLI, XLF, XLB, XLK, XLV, XLE,

Neutral sectors: XLY, XLP, XLRE, XLU,

Down trend sectors:

Intermediate-term trending stocks:  MU, LRCX, CBOE, TAL, TTWO, LYV, FCAU, AA, EDU, PYPL, ANET, V, ALGN, BA, WYNN, A, ISRG, SQ, CC, SHOP, TRU, MCD, WB, NVDA, AABA, BABA, ATVI, FB, EA, RACE, WUBA, ADBE, CCL, RCL,

56 of 100 NDX stocks closed higher and two were unchanged on Wednesday.

69 NDX stocks are above their 30 DMA.

NDX Stocks to Watch on Thursday:

Moving Above 30 DMA = 8

ALXN, DISCA, EA, FOXA, IDXX, ILMN, LVNTA, VIAB,

Moving Below 30 DMA = 1

NTES,

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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