QQQ Leads Bounce with Gains in FB, AMZN, GILD, CSCO, CELG, and MSFT...Healthcare Sector Leads SPX...

All nine sectors moved higher on Wednesday …XLV, XLY and XLK were the strongest sectors while XLP was the weakest sector.  Oil futures rose 1.03 to close at 47.89.

Breadth strengthened as advancers led 1,924 to 1,061 on the NYSE and led 1,633 to 963 on the NASDAQ.

Wednesday – strengthened, advancers led, +9

Tuesday – weakened, decliners led, +2

Monday – Independence Day Holiday

Friday – weakened, advancers led, +7

Thursday – weakened, advancers led, +9

SPY up 1.25 at 209.66 on 94.6 million shares, 6% below average volume

VIX down .62 at 14.96

TLT up .23 at 142.56…on 14.3 million shares, 70% above average volume

Technical Commentary:

QQQ +0.83%, IWM +0.73%, SPY +0.60%, DIA +0.43%,

QQQ led broad market ETFs on Wednesday with point gains in FB, AMZN, GILD, CSCO, CELG, MSFT, AMGN, INTC, BIIB, REGN, GOOG and PCLN which accounted for 21.6 points of the 33.95 point gain in the NDX.

SPX was led by percentage gains in KMX, MLM, NUE, EW FCX, SWN, ABT, DHI, APC, MNK, FSLR, KSS, NEM, AN, GCI and GPS.

Earnings season unofficially starts Monday, July 11, when AA reports after the close.

Technical analysis based trades should be closed before earnings.

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:  NFX, NTES, NFLX, SBUX, MDLZ, CMCSA, MPC, CHD, HOG, BXP, RIG, SE, AWK, AMT, AES, CTRP, EQT, EQR, NRG, TXN,

Bull Flag Bounces include:  CERN, INTC, ROST, COG,

Divergence Bounces include: NTAP, SWKS, SWN, VLO, NOV, DD, DOW, CCL, FCX, QCOM, JD,

Horizontal Breakout Setups include: INTC, ROST, OKE, NKE, NUE, KMX, X, FSLR, CERN, CHTR, MSFT, TMUS, CVX, ESRX, DVN, AKAM, AMAT, BIDU, EXPE, TRIP,

Horizontal Breakout include: FB, MLM, SCHN, EW, DHI, GPS, AMZN, EA, MUR, SCHN, EW, DHI, INCY, CELG, GGP,

New Highs include: ULTA, NEM, SYK, JNJ, DLR, FRT, CNP, AIV, XOM, INTU, DG, CMS, NEE, CINF, ADP, KHC, ORLY, PAYX, MNST, ATVI, UNH,

IRM, NI, CNP, O, VTR, PNW, SPG, KIM, MAC, CCI, EIX, WEC, HCN, CINF, UDR, FISV, BCR, DLTR

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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 SPY MFC green line is pointed up at 79, bullish.

79 of 100 NDX stocks closed higher on Wednesday.

48 NDX stocks are above their 30 DMA.

NDX Stocks to Watch on Thursday:

Moving Above 30 DMA = 6

CELG, FB, GILD, SIRI, VRTX, WFM

Moving Below 30 DMA = 1

NFLX

6-month Intermediate Term Market Trend: Neutral

3-day Short Term Market Trend: Up