Lower Open Leads to Rebound...Small Caps Lead...Technology Top Sector...ADSK Up on EPS...

After the Close Review of Wednesday’s market action…QQQ, IWM, SPY, DIA, $VIX, ADSI, ADBE, AMZN, ATVI, MU, NFLX, NVDA, STX, TXN, CRM, CSCO, INTC, JPM, MSFT, SQ,  PYPL, NTAP, AMAT more great setups …11:10 pm PST

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The DJIA, down 82 points to 24,801, led by weakness in TRV, CAT, HD, XOM and BA. 

Three sectors were higher on Wednesday, led by technology XLK +0.55%, and healthcare XLV +0.51%.

SPY down .10 at 272.78 on 86.9 million shares, 37% below average volume.  Down on higher volume.

VIX down .37 at 18.36

Oil down 1.01 to 61.35

TLT down .13 at 118.01 on 4.4 million shares, 62% below average volume.  Down on lower volume.

IBM +1.67%, and INTC +1.20%, led the DJIA, 11 advancers.

HRB +11.49%, AMD +4.08%, and DHR +3.14%, led the SPX.

ADSK +14.87%, JD +2.94%, ALGN +2.71%, EXPE +2.52% and ILMN +2.31% led the NDX.

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

Up: IWM, QQQ,

Down: SPY, DIA

Breadth weakened on Wednesday, as advancers led 1,500 to 1,367 on the NYSE and led 1,798 to 1,067 on the NASDAQ.

The SPY MFC green line pointed up at 53, bullish. 

Uptrend sectors:  XLK,

Neutral sectors: XLY, XLF, XLV, XLI, XLB, XLE,

Down trend sectors: XLP, XLRE, XLU,

Intermediate-term trending stocks:  Many of these stocks have had significant pull backs over the past month and it is appropriate to wait for the uptrend to resume before considering entry… ADBE, MU, SQ, RNG, IBKR, SHOP, BA, NVDA, RACE, VRSN, ATVI, WB, V, ANET, ISRG, TAL, EA, EBAY, LYV, CAT, MAR, ALGN, CCL, RCL, TRU, WYN, PYPL, A, AABA, BABA, FCAU,  FB, CBOE, TTWO, WYNN, AA, WUBA, EDU, CC,

67 of 100 NDX stocks closed higher on Wednesday.

58 NDX stocks are above their 30 DMA.

NDX Stocks to Watch on Thursday:

Moving Above 30 DMA = 2                            

FB, GOOGL, 

Moving Below 30 DMA = 5

COST, FOXA, MDLZ, ROST, SHPG,

The intermediate and long-term trends are still up.  The two-month trend is sideways.  The seven-day trend is sideways.

6-month Intermediate Term Market Trend: Up

3-day Short Term Market Trend: Up

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