Stocks Resume Rally...RUT...IWM...QQQ...Set Up For A Diagonal Breakout...SPY For A Horizontal Breakout...DJIA Barrels With Longest Winning Streak Since July...

Eight nine sectors moved higher on Wednesday…XLV, XLB, XLI were the strongest sectors while XLU was again the weakest sector.

Breadth strengthened as advancers led decliners 3.51 to 1 on the NYSE and 2.65 to 1 on the NASDAQ.

Wednesday – strengthened, advancers led

Tuesday – weakened, mixed

Monday – strengthened, advancers led

Friday – strengthened, advancers led

Thursday – mixed, mixed

SPY up 1.62 at 199.41 on 123.3 million shares, below average volume

VIX down 1.00 at 18.40…

TNX up .27 at 20.62…

TLT down .41 at 122.99…on 5.4 million shares, below average volume

XLF up .18 at 23.25…on 31.2 million shares, below average volume

AAPL down .53 at 110.78 on 46.7 million shares, below average volume

FB down .40 at 92.40 on 24 million shares, below average volume

Technical Commentary:

QQQ +0.60%, DIA +0.75%, SPY +0.82%, IWM +1.77%.

Trade with the trend of the chart you are trading and continue to move your profit protection stops.  Continue to follow your rules.

Short-term Chart Targets:

SPY =...197.68, 199.99…

QQQ = 105.61, 106.93…

IWM = 113.92…

Support Levels

SPY = 190.56, 189.12...

QQQ = 102.27, 101.34…

IWM = 106.99...

The SPX Market Forecast is pointed up at 58.

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Setups

Horizontal Breakout: SPY, C, CTRP, FAS, FSLR, GME, HPQ, SCTY, SFUN, SOHU, SVXY, SWI, TSL, UBNT, VSLR, BABA, ESI, GLW, JASO, KNDI, LNKD, MFRM, MTW, OCN, SCSS, SPWR, SSYS, UPL, VIAV, VJET, YY, AMZN, CMCSA, GMCR, GOOGL, GRMN, MSFT, QCOM, SBUX, SNDK, TRIP, TXN, WYNN, XLNX,

Diagonal Breakout: IWM, QQQ, HOG, LVS, PANW, PYPL, SUNE, ULTA, AXTA, LOCO, SLCA, SPLK, YELP, ZNGA, ADSK, AKAM, AVGO, BRCM, CELG, EBAY, ESRX, INTC (long term), PCLN,

Bull Flag: NKE, JD,  

Potential Bullish Divergence: 

Gap Up: 

Gap Down: 

Bear Flag:  

At Support: 

C- Pattern: 

Moves

New Highs: JNPR,  

H Breakout: LC, MBLY, TASR, V, CAR, GOGO, TAN, TWTR, MAR, WDC,

D Breakout: BAC, BX, CRUS, CYBR, DAL, ETFC, ETSY, MS, ZION, ATI, CIEN, CSIQ, DDD, X,

Bull Flag Bounce:     

MACD Divergence Bounce: FOGO,

Bounce: CCL, PLAY, RCL, RPD, SWKS, UAL, SWKS,

Gap Up:  

Gap Down: P, ADBE,

C- Pattern:    

Bear Flag:  

Support Break: GPRO,   

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Watch List Stocks

Leading stocks > +2% on Wednesday: SUNE, TASR, RPD, SINA, SWKS, SUM, JUNO, FAS, ETFC, BX, MBLY, UBNT, JBL, YOKU, SVXY, CTRP, FSLR, VSLR, ZION, LVS, DAL, VJET, TWTR, ESI, XONE, GOGO, RAX, BBRY, Z, CAR, CSIQ, DDD, SPWR, X, ATI, SPLK, BABA, ASNA, YELP, JNPR, GLNG, TAN,OCN, FEYE, UPL, KNDI,GREE, MFRM, FOGO, DAVE, SSYS

           

Lagging stocks < -2.0% included: P, GPRO, JCP, FIT, W, VXX, FL,

76 of 100 NDX stocks closed higher on Wednesday and one was unchanged.

Leading NDX 100 stocks included: WYNN, REGN, AMGN, CELG, SWKS, MAR, AAL, ALXN, YHOO, DISCA

Lagging NDX stocks included: ADBE, TSLA, DLTR, BIDU, MYL, BBBY, BMRN, VOD, ORLY, SYMC

NDX Stocks to Watch on Thursday:

Moving Above 30 DMA = 8

AMAT, AMGN, CERN, FAST, STX, GMCR, TRIP, KHC

Moving Below 30 DMA = 1

ADBE

6-month Intermediate Term Market Trend: Down

3-day Short Term Market Trend: Up