Rally Moves Higher on Breadth as Advancers Lead...

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SPY gapped higher on strong futures overnight as optimism continued on US/China trade.  Stocks pulled back after a top Senate appropriator indicated a shutdown was more that possible.  QQQ, SPY and DIA are still channel bounce setups for Thursday.

The DJIA, closed up 157 points at 24,527, led by strength in BA, UNH, MMM, CAT and AXP.  This is the fifth close below 25,000 since Nov 27.

Eight of eleven sectors were higher on Wednesday, led by communications XLC +1.07% and discretionary XLY +1.05%.

SPY up 1.33 at 265.46 on 97.9 million shares, 11% below average volume. Up on lower volume.

VIX down .30 at 21.46 

Oil down .76 at 51.20

TLT down .53 at 118.35 on 6.1 million shares. 

DWDP +2.05%, AXP +1.97%, led the DJIA, 24 advancers, +10

URI +6.32%, TWTR +5.22% and MGM +4.84%, led the SPX.

JD +4.69%, NTES +3.86%, WYNN +3.66%, and NFLX +3.60% led the NDX.

Long term up trend intact.  3-day short term trend is up.

Up:  IWM, QQQ, DIA, SPY,

Down:

Breadth strengthened on Wednesday, as advancers led 1,940 to 1,011 on the NYSE and led 2,067 to 946 on the NASDAQ

The SPY MFC green line is turned down at 28 and is short-term bearish.

Uptrend sectors:   XLRE, XLU, XLV, XLP,

Neutral sectors:  XLI, XLB, XLY, XLC, XLK,

Down trend sectors: XLF, XLE,

The 6-month intermediate trend is sideways.  The ten-day trend is sideways.

3-month Intermediate Term Market Trend: Down

3-day Short Term Market Trend: Up

65 of 100 NDX stocks closed higher on Wednesday.

46 NDX stocks are above their 30 DMA.  SBUX, TSLA, PEP, XLNX, FOXA, MDLZ, MNST, SYMC, CTXS, XRAY, MXIM, NTES, HOLX, PAYX, VOD, WDAY, ADP, CSCO, ILMN, MELI, SIRI, VRTX, EBAY, REGN, ADBE, ADI, AMGN, AMZN, AVGO, MCHP, MSFT, PYPL, FB, WBA, ADSK, BIIB, CTRP, EXPE, GOOGL, INCY, INTC, ISRG, ORLY, QCOM, SNPS, WYNN,

NDX Stocks to Watch on Thursday:

Moving Above 30 DMA = 12

ADSK, BIIB, CTRP, EXPE, GOOGL, INCY, INTC, ISRG, ORLY, QCOM, SNPS, WYNN,

Moving Below 30 DMA = 0

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