Small Cap IWM New High Leads Market...FB New All-time High...Oil Bounces Bull Flag Entry...Airlines Soar...

Five of nine sectors moved higher and one was unchanged on Wednesday …XLE, XLK and XLI were the strongest sectors while XLP was the weakest sector.  Oil futures rose 1.26 to close at 46.14.  Oil bounced creating a bull flag bounce entry today.

Breadth strengthened as advancers led 1,875 to 1,145 on the NYSE and led 1,712 to 1,141 on the NASDAQ.

Wednesday – strengthened, advancers led, +5

Tuesday – weakened, advancers led, +6

Monday – Labor Day Holiday

Friday – strengthened, advancers led, +9

Thursday – strengthened, advancers led on NASDAQ, +4

SPY down .02 at 219.01 on 76.5 million shares, 22% above average volume

VIX down .08 at 11.94

TLT down .10 at 139.54…on 8.5 million shares, 15% below average volume

Technical Commentary:

IWM +0.63%, QQQ +0.06%, DIA +0.00%, SPY -0.07%,

Small cap IWM led broad market segments on Wednesday. 

Airline stocks soared led by gains in DAL +5.65%, UAL +4.97%, AAL +4.84%, LUV +4.68% and ALK +2.94%.

FB +1.32, +1.02% makes a new all-time high.

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

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: TIF, LB, C, URBN, ZION, SCHW, AMBA, WFC, BAC, SWKS, MSFT, HLT, PCAR, AVGO, ADBE, TSN, HRL, SINA, CAVM,

Bull Flag Bounces include: KSS, URI, RL,

Horizontal Breakout Setups include: SPY, QQQ, VLO, URI, KMI, CBL, MU, UBNT, NVDA, MPC, KMX, PAYX, WDC, PCLN, CBG, HPE, NFLX, YELP, TWTR, ADSK, ATI, AAPL, ROST, FL, NUE, MAT

Horizontal Breakout include: WDC, WMB, AAL, IWM,

New Highs include: FB, STX, CHTR, CHK, WRK, V, NTAP, BURL, BIDU, FAS, STT, HRS, MSI, ETFC, GS, SYMC, JD, XLF, BABA, GT, EA, INTC, AMAT, XLNX, FAS, JPM, MS,

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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 up at 74, bullish. 

43 of 100 NDX stocks closed higher on Wednesday.

56 NDX stocks are above their 30 DMA.

NDX Stocks to Watch on Thursday:

Moving Above 30 DMA = 5

ADP, BMRN, INTU, PYPL, SBUX,

Moving Below 30 DMA = 4

CTRP, INCY, NXPI, TMUS,

6-month Intermediate Term Market Trend: Up

3-day Short Term Market Trend: Neutral