QQQ at Resistance...Poised to Breakout...Join DIA, IWM and SPY at New Highs...

Sector Trend Strength:

Up Trend: XLF, XLI, XLB, XLY, XLE

Sideways: XLK, XLV

Down Trend: XLP, XLU, XLRE

Breadth strengthened as decliners led 1,551 to 1,465 on the NYSE and led 1,405 to 1,341 on the NASDAQ.

Tuesday – strengthened, decliners led, +9

Monday – weakened, decliners led, +4

Friday – strengthened, advancers led, +9

Thursday – Thanksgiving Holiday

Wednesday – weakened, advancers led, +6

Oil futures were were down 1.67 to close at 45.23.

SPY up .43 at 220.91 on 69.8 million shares, 23% below average volume

VIX down .25 at 12.90

TLT up .51 at 122.22…on 8.3 million shares, 12% below average volume

Technical Commentary:

QQQ +0.35%, DIA +0.21%, SPY +0.20%, IWM -0.05%,

QQQ, DIA and SPY started to bounce on Tuesday after a one-day pullback on Monday.

Follow your rules and look for potential re-entry if you were stopped out of any profitable trades.

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

IWM, DIA and SPY continue to trend above their horizontal resistance breakout level

SPX up 2.9 points at 2,204.

SPX Leaders: ALXN, CNC, UNH, ABBV, CHTR, EA, TIF, PX, AET, CMCSA, HRB, PAYX, ALB, BCR, CCL, SYK, DLR, RHT, A, CSRA, HST, CFG, RCL, HPE, AKAM, PLC, CA, LH, ATIV, HCA, GM, CELG, JNPR, SNI

QQQ in sideways trend is at intermediate-term resistance and is a horizontal resistance breakout setup. 

NDX point gainers: CMCSA, MSFT, CHTR, ALXN, CELG, GOOGL, FB, JD, KHC, EA and SBUX

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.

2016 Q3 EPS, > Nov 11

EPS Positive Reactions

THO, CTRP, DE, VEEV, GME, BURL, SINA, DLTR, WB, ADI, CPB, HRL, JEC, SIG, MRVL, ROST, INTU, BBY, NTAP, TGT, AAP, JD, NVDA, KSS, M, JWN, RL, DDS, QVCA, JCI,

EPS Negative Reactions

URBN, PDCO, MDT, TSN, GPS, CSCO, LOW, HD, TJX,

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Strong Stocks: Setups and Moves You Can Use

Bull Flag Setups include: FCX, MGM, NTAP, DLTR, AMZN, WFM, HAL, MUR, RCL, CE, MXIM, DISCA, ADP, JWN, FTI, ADSK, REGN, VRTX, SQ, TGT, HAS, NCLH, AXP, TCK, MU, PCAR, X, STLD, NUE, AKS, C, BAC, SCHN, BURL, BBY, FISV, HBAN, SWN, CHK, FOSL, RRC, BHI, HES, APA, LNG,

Bull Flag Bounces include: JD, XLNX, ICE, CCL, ADI, NCLH, AKAM,

Horizontal Breakout Setups include: STX, LMT, AAPL, CSX, DAL, LUV, TSLA, MMM, JPM, UTX, PWR, ESRX, SAVE, BBBY, STI, HIG, ATI, CHTR,

INCY, CTXS, COST, EXPE, ULTA, PCLN, NFLX, FB, GOOGL, SINA,

Horizontal Breakouts include: UNH, WDC, BA, WB,

New Highs include: UNH, PAYX, MAR, CCL, TMUS, CMCSA,  MCD, SBUX, TXN, KLAC, TRV, LUV, AAL, NVDA,  AAP, FOXA, ADP, ALK, MCHP, LRCX, FDX, UPS, ZION, MS, ETFC, USB, RF, UAL, SKYW, CFG, CC, GS, SCHW, CMA,

Horizontal Break of Support Setups include: CSCO, NEM, NTES, CERN, TRIP

Break of Support: ATVI,

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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 in the upper zone at 96, bullish. 

61 of 100 NDX stocks closed higher on Tuesday.

66 NDX stocks are above their 30 DMA.

NDX Stocks to Watch on Wednesday:

Moving Above 30 DMA = 4

ALXN, DISH, EA, GILD

Moving Below 30 DMA = 4

CHKP, EXPE, QCOM, TSLA

6-month Intermediate Term Market Trend: Up

3-day Short Term Market Trend: Up