Gap Up Leads to Trading Range at Resistance...QQQ Up, SPY, IWM Down, DIA Flat...

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UAL +4.69% after reporting EPS yesterday after the close.  SPX EPS reactions this week: 13 positive:  BAC, BLK, CMA, JNJ, OMC, PGR, CSX, UAL, KSU, MS, PEP, TXT, USB...

12 negative: GS, C, SCHW, MTB, JBHT, PLD, UNH, IBM, NFLX, ABT, BK, PNR...

The DJIA, closed down 3 points at 26,449, led by strength in GS, AAPL, JPM, HD and DIS.  Thirteenth straight close above 26,000 since March 1.

Six of eleven sectors were higher on Wednesday, led by technology XLK +0.56% and staples XLP +0.50%.

SPY down .71 at 289.45 on 58.2 million shares, 17% below average volume. Down on higher volume.

VIX up .42 at 12.60

Oil down .48 at 63.85

TLT up .05 at 122.26 on 6.1 million shares. 

INTC +3.26%, GS +3.00%, led the DJIA, 19 advancers, -2

KSU +4.09%, TXT +4.01% and OMC +3.14%, led the SPX.

QCOM +12.25%, UAL +4.78%, CSX +4.02%, and PEP +3.76%, led the NDX.

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

Up: QQQ, DIA,

Down: SPY, IWM,

Breadth weakened on Wednesday, as decliners led 1,698 to 1,147 on the NYSE and led 1,995 to 1,047 on the NASDAQ

The SPY MFC green line is at 95 and is intermediate-term bullish. 

Uptrend sectors: XLRE, XLU, XLP, XLY, XLK, XLI, XLC, XLB,

Neutral sectors:  XLF, XLE,

Down trend sectors: XLV,

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

3-month Intermediate Term Market Trend: Up

3-day Short Term Market Trend: Sideways

42 of 100 NDX stocks closed higher on Wednesday.

75 NDX stocks are above their 30 DMA:  CDNS, CTRP, PYPL, XLNX, MELI, ULTA, VRSN, KLAC, SNPS, MDLZ, PAYX, WLTW, CSX, ALXN, GOOGL, VRSK, ADP, CHKP, CSCO, FOXA, CMCSA, JD, AAPL, PEP, INTC, MSFT, COST, DLTR, AMZN, NVDA, SYMC, NTAP, SBUX, NTES, ALGN, AVGO, ORLY, AMD, ADBE, FAST, ILMN, LULU, MAR, PCAR, AMAT, ASML, CELG, CERN, FB, HSIC, LRCX, MU, ROST, SWKS, ADI, ADSK, CTAS, MCHP, MXIM, NXPI, TXN, WDC, WYNN, AAL, BKNG, LBTYA, UAL, KHC, SIRI, CHTR, EXPE, WDAY, TMUS, HAS, QCOM,

NDX Stocks to Watch on Thursday:

Moving Above 30 DMA = 0

  

Moving Below 30 DMA = 5

ALXN, CTXS, IDXX, INTU, XRAY,

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