QQQ, DIA, SPY, IWM Short-term New High Close...XLP All-time High...XLK Bull Market High...

Eight of nine sectors moved higher on Wednesday …XLP, XLY and XLK were the strongest sectors while XLU was the weakest sector.  Oil futures fell .19 to close at 38.30. 

                         

Breadth weakened as advancers led decliners 1.70 to 1 on the NYSE and 1.46 to 1 on the NASDAQ.

Wednesday – weakened, advancers led

Tuesday – strengthened, advancers led

Monday – mixed, advancers led on NYSE

Friday – weakened, advancers led

Thursday - strengthened, advancers led

SPY up .90 at 206.02 on 86.3 million shares, 15% below average volume

VIX down .26 at 13.56…

TNX up .16 at 18.30…

TLT up 1.38 at 131.07…on 8.4 million shares, 11% above average volume

XLF up .13 at 22.55…on 30.5 million shares, 46% below average volume

AAPL up 1.88 at 109.56 on 45.6 million shares, 35% above average volume

FB down 1.44 at 114.70 on 33.2 million shares, 27% above average volume

Technical Commentary:

QQQ +0.49%, DIA +0.47%, SPY +0.44%, IWM +0.01%.

Today QQQ, DIA, SPY and IWM each made a new short-term new high close since the Feb 11 lows.  Consumer Staples XLP made a new all-time closing high, XLU closed just below Tuesday’s all-time closing high and Technology XLK made a new 15 year high.

NDX +23.16 on Wednesday was led by point gainers MSFT, AMZN, CSCO, AAPL, GOOG, INTC, COST, TXN and AVGO. 

NDX percentage leaders: NCLH, JD, CHKP, NTES, ATVI, MAT, DLTR, AMAT, AVGO, SWKS, AAPL, TXN

The DJIA was led by gains in V, AAPL, MCD, MMM, CSCO, JPM, WMT, GE and INTC as 20 of 30 stocks moved higher.

Trade what you see, not…

Stocks below support should generally be traded bearishly until a reversal pattern forms.

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Strong Stocks: Setups and Moves You Can Use

Bull Flag Setups include:  XLE, AMGN, CA, EXPE, FAST, FOXA, GILD, SYMC, FCX, AXP, BA, NKE,

Bull Flag Bounces include: NCLH, MCD, MMM, XLF, CSCO, CSX, ROST, CNX, DD, JPM, AKS, SE

Horizontal Breakout Setups include: INTC, XOM, XLB, XLI, XLV, ADSK, BIDU, CHTR, CMCSA, CTRP, CTXS, PCAR, CAT, IBM, NTAP, SBUX, BABA, EA, MSFT, NFLX,

Horizontal Breakouts include: NCLH, RCL, CCL, X, SPY, XLP, AMAT, AVGO, FISV, GOOG, SWKS

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YTD:

SPX Leaders:  FCX, NEM, URBN, KORS, WYNN, PVH, RRC, COG, SE, EXC (306, +8 > 10p 123, -3)

SPX Losers: WMB, ESV, MPC, RIG, RCL, ADS, MS, CF, LNC, BAC

NDX Leaders: MAT, FAST, PCAR, AMAT, FISV, CHTR, YHOO, FB, ISRG, HSIC (49, +2)

NDX Losers:  ENDP, VRTX, INCY, REGN, ALXN, MU, BMRN, WDC, TRIP, NTES

DJI Leaders:  VZ, CAT, WMT, MMM, UNH, XOM, KO, IBM, MCD, JNJ (19, +0)

DJI Losers: AXP, GS, BA, JPM, PFE, DIS, INTC, DD, V, MSFT

Remember:  “It’s a market of stocks, not just a stock market.”

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

The SPX MFC green line is at 94. 

69 of 100 NDX stocks closed higher on Wednesday.

85 NDX stocks are above their 30 DMA.

NDX Stocks to Watch on Thursday:

Moving Above 30 DMA = 1

XLNX

Moving Below 30 DMA = 1

WDC

6-month Intermediate Term Market Trend: Neutral

3-day Short Term Market Trend: Up