DJIA 26,115 New Record Closing High...First Close Above 26,000...VIX Remains Elevated...

After the Close Review of Wednesday’s market action…INDU, BA, HD, JPM, MMM, V, AAPL, DIA, QQQ, SPY, IWM, XLV, XLK, XLP, XLB, XLE, XLF, XY, XLI, DIS, DWDP, MMM, NKE, V, ADSK, IDU, COST, PYPL, WDC, WYNN, XLNX, X, $VIX,  and more setups and earnings to report this week…9:35 pm PST

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Futures rose overnight and immediately began to pull back after the open, hitting a bottom 30 minutes into Wednesday’s trading.  An interesting opposite to Tuesday’s open.  The /ES then rallied more than 25 points to close at new record high.  The DJIA closed at 26,115, its first close above 26,000, and its ninth close above 25,000.

Record highs: BA, CSCO, DWDP, HD, JNJ, JPM, MCD, MMM, MSFT, TRV, UNH, V, WMT, AAPL, ADBE, ADI, ADP, ALGN, ASML, ATVI, CTSH, FISV, GOOGL, IDXX, ISRG, KLAC, MAR, MCHP, MELI, MNST, NVDA, PCAR, PYPL, SNPS, TXN, VRSK, AA

Ten sectors were higher on Wednesday, led by technology XLK +1.50% and staples XLP +1.14%.  Technology and semiconductor stocks received a boost from the earnings beat by ASML +6.87%.

SPY up 2.64 at 279.61 on 113.0 million shares, 38% above average volume.  Up on higher volume.

VIX up .25 at 11.91

Oil up .21 to 64.09

TLT down .17 at 124.87…on 8.3 million shares, 7% below average volume.  Down on lower volume.

BA +4.73% and IBM +2.93%, led the DJIA, 26 advancers.

MRO +3.29%, NCLH +3.28%, and BMY +3.22%, led the SPX.

LRCX +7.72%, ASML +6.87%, TXN +5.53%, KLAC +5.42%, and AMAT +5.21%, led the NDX.

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

Up: DIA, QQQ, SPY, IWM

Down:

Breadth strengthened on Wednesday, as advancers led 1,889 to 1,021 on the NYSE and led 1,886 to 1,017 on the NASDAQ.

The SPY MFC green line is in the upper zone at 94.9, bullish.

Uptrend sectors:  XLB, XLE, XLY, XLI, XLF, XLP, XLK, XLV,

Neutral sectors: XLRE,

Down trend sectors: XLU,

Intermediate-term trending stocks:  Many of these stocks have had significant pull backs over the past month and it is appropriate to wait for the uptrend to resume before considering entry… BA, CAT, MAR, V, CBOE, IBKR, TRU, WYN, MCD, WYNN, ADBE, PYPL, ANET, RNG, NVDA, ISRG, VRSN, CDNS, AA, WUBA, TAL, EDU, FCAU, LRCX, CC, WB, MU, LYV, FB, A, TTWO, AABA, BABA, CCL, RCL, SHOP, ATVI, SQ, RACE, ALGN,  

80 of 100 NDX stocks closed higher on Wednesday.

84 NDX stocks are above their 30 DMA.

NDX Stocks to Watch on Thursday:

Moving Above 30 DMA = 4                            

EBAY, MU, PAYX, TMUS,

Moving Below 30 DMA = 2

FAST, VOD,

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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