QQQ Leads on SWKS, AAPL, AVGO...SPY Ends Flat after Early Gains...Support Holds Day Four...

Three of nine sectors moved higher and one was unchanged on Wednesday…XLK, XLU and XLY were the strongest sectors while XLE was again the weakest sector.  Oil futures fell 1.33 to close at 43.64.

Breadth strengthened as decliners led 1,569 to 1,462 on the NYSE and led 1,428 to 1,367 on the NASDAQ.

Wednesday – strengthened, decliners led, +5

Tuesday – weakened, decliners led, +0

Monday – strengthened, advancers led, +9

Friday – weakened, decliners led, +0

Thursday – weakened, decliners led, +3

SPY down 0.08 at 213.15 on 134.1 million shares, 78% above average volume

VIX up .29 at 18.14

TLT up 0.20 at 134.25…on 7.0 million shares, 2% above average volume

Technical Commentary:

QQQ +0.48%, IWM +0.02%, SPY -0.04%, DIA -0.20%,

SPY gained more than a dollar on Wednesday morning only to give I back and finish 8 cents lower for the day.  Short-term support 212.31 held for the fourth straight day.

QQQ was again the leading broad market ETF on Wednesday closing higher while forming a potential bounce chart signal.  Leading NDX stocks included SWKS, AAPL, AVGO, ALXN, NCLH, VIAB, REGN, DLTR, BMRN, NTES, CELG, INTU, NXPI, CSX, TMUS, DISH, MU, INCY and YHOO.

BABA +2.12, +2.11% gave a bull flag bounce chart signal.

SINA +1.84, +2.49% forming a bull flag pattern.

MU +0.18, +1.07% forming a bull flag pattern.

YHOO +0.42, +0.98% forming a bull flag pattern.

FB +0.56, +0.44% forming a bull flag pattern.

INTC +0.01, +0.03% forming a bull flag pattern.

BIDU +0.28, +0.15% forming a bull flag pattern.

WMB -0.01, -0.03% forming a bull flag pattern.

BURL -0.13, -0.16% forming a bull flag pattern.

STX -0.07, -0.19% forming a bull flag pattern.

JD -0.52, -1.96% forming a bull flag pattern.

CHK -0.21, -2.85% forming a bull flag pattern.

45 Up Trending Stocks that you might want in your watch list:

ADBE, ADSK, AMAT, CHTR, CSCO, CTRP, EA, FB INTC, MU, NTAP, NTES, NVDA, QCOM, SWKS, SYMC, XLNX, FAS, IWM, UBNT, YELP, AMD, CHK, XEC, GT, MSI, TSN, CTAS, HRS, WMB, CAVM, BURL, WRK, BABA, SINA, JPM, V, BAC, ZION, MS, SCHW, GS, C, FL, HRL

Monday was a re-entry day on many charts.  Many more charts are set up to be a potential re-entry on Tuesday.

Consider moving up stops on short term bullish trades that could pull back.  All according to your profit protection rules.

Remember breakouts typically test about 70% of the time.

Technical analysis based trades should be closed before earnings. After-hours

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: UAL, AAL, CHK, XLNX, V, STX, FB, MU, BABA, BIDU, SINA, YHOO, INTC, JD, WMB, SE, BURL, SYMC, EBAY, APA, WRK, ZION, BAC, SCHW, JPM, GS, CHTR, WDC, HRS, AMAT, NFLX, AKAM, CSCO, WBA SWN, ADSK, URBN, KSS, RL, FL,

Bull Flag Bounces include: CAVM,

Horizontal Breakout Setups include: ATVI, PYPL, VLO, MPC, MA, MS, LVNTA, GT, STT, NTAP, SWKS

Horizontal Breakout include: AAPL, ETFC,

New Highs include: ETFC, NTES,

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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 down at 31, bearish.  SPY is still above short-term support.

53 of 100 NDX stocks closed higher and four were unchanged on Wednesday.

30 NDX stocks are above their 30 DMA.

NDX Stocks to Watch on Thursday:

Moving Above 30 DMA = 3

NFLX, SWKS, XLNX

Moving Below 30 DMA = 3

CHKP, TRIP, WBA

6-month Intermediate Term Market Trend: Up

3-day Short Term Market Trend: Down