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After the close Review of Wednesday’s action…FCAU, WUBA, SPY, it’s been said “good trading is boring” or “good trading is effortless,” IWM, DIA, QQQ, TLT, VIX, TSLA, CRM, AAPL, MU, AXP, CCL, RCL, MCD, ADBE, V, LRCX, PYPL, KSU, MSFT, ADSK, AMAT, MCHP, MNST, ROST, EL, FCX, XLB, AA, ARNC, VALE, NVDA, WDC, SYM, AMD

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SPY, QQQ pullback to S1 after a MACD bullish divergence bounce.

DIA pullback to S1 after bounce in bull flag pattern.

IWM pullback to S1 after channel bounce at short-term support.

Three sectors were higher, led by real estate XLRE +1.02% and energy XLE +0.43%.

SPY down.88 at 244.56 on 50.2 million shares, 20% below average.  Down on falling volume.

VIX up .90 at 12.25.

Oil up .74 to 48.37

TLT up .86 at 127.30…on 6.1 million shares, 8% above avg.  Up on higher volume. 

UTX +1.16%, and IBM +0.80%, led the DJIA, 7 advancers.

FL +6.24%, FOSL +4.76% and AA +3.24% led the SPX.

XLNX +4.35%, TSLA +3.35%, NVDA +2.00%, and WDC +1.92%, led the NDX.

Intermediate and long term up trend intact.  3-day short term trend is up.

Up:

Down: IWM, DIA, QQQ, SPY,

Breadth weakened on Wednesday as advancers led 1,507 to 1,345 on the NYSE and decliners led 1,610 to 1,198 on the NASDAQ.

The SPY MFC green line is at 35, short-term bearish.

Uptrend sectors:  XLU,

Neutral sectors: XLK, XLP, XLF, XLY, XLRE, XLV, XLB, XLI

Down trend sectors: XLE

Intermediate-term trending stocks:  PYPL, ADBE, NVDA, FB, ATVI, EA, BA, MCD, V, CCL, RCL, ALGN, ANET, SQ, CC, AABA, TTWO, PGR, TRU, LYV, ALL, TAL, BABA, A, EDU, SHOP, EXPE,

23 of 100 NDX stocks closed higher and two were unchanged on Wednesday.

40 NDX stocks are above their 30 DMA.

NDX Stocks to Watch on Thursday:

Moving Above 30 DMA = 4

NVDA, TSLA, WDC, XLNX,

Moving Below 30 DMA = 5

BIIB, CHKP, INTU, MAR, ORLY,

The intermediate and long-term trends are still up.

6-month Intermediate Term Market Trend: Up

3-day Short Term Market Trend: Up

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