QQQ, SPY, DIA, IWM, All-time New High Close...AMZN, FB, GOOGL Breakout to New Closing Highs...

After the Close Review of Wednesday’s market action… QQQ, SPY, DIA, IWM, TLT, VIX, XLE, XLV, XLK, XLB, XLI, XLF, NDX, INTC, NVDA, AMZN, FB, GOOGL, MSFT, PYPL, TXN, NFLX, SBUX, ADBE, MCHP, MXIM and setups …10:02 pm PST

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Eight sectors were higher on Wednesday, led by energy XLE +1.50% and healthcare XLV +0.96%.

SPY up 1.70 at 270.47 on 90.0 million shares, 10% above average volume.  Up on higher volume.

VIX down .62 at 9.15

Oil up 1.56 to 61.93

TLT up .60 at 126.09…on 8.6 million shares, 3% above average volume.  Up on higher volume.

IBM +2.75%, and XOM +1.96%, led the DJIA, 20 advancers.

SCG +22.59%, CMG +5.48%, and AMD +5.19%, led the SPX.

ULTA +6.75%, NVDA +6.58%, PYPL +3.94%, EXPE +3.09%, and QVCA +3.07%, led the NDX.

SCG +22.59%, on merger news.

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

Up: QQQ, SPY, DIA, IWM,

Down:  

Breadth weakened on Wednesday, as advancers led 1,735 to 1,181 on the NYSE and led 1,706 to 1,227 on the NASDAQ.

The SPY MFC green line is in the upper zone at 94, 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… CAT, MAR, V, BA, WYNN, IBKR, TRU, CBOE, VRSN, WYN, MCD, AA, TAL, FCAU, CCL, RCL, CC, EDU, ADBE, PYPL, MU, LYV, FB, A, ISRG, TTWO, AABA, BABA, CDNS, ANET, RNG, WUBA, SHOP, ATVI, NVDA, SQ, RACE, ALGN,  WB, LRCX,

79 of 100 NDX stocks closed higher on Wednesday.

85 NDX stocks are above their 30 DMA.

NDX Stocks to Watch on Thursday:

Moving Above 30 DMA = 16                          

AMAT, CERN, CHKP, EXPE, FISV, ISRG, LRCX, LVNTA, MNST, MU, PAYX, PYPL, QCOM, SBUX, SWKS, WDC,

Moving Below 30 DMA = 4

DISH, NTES, TSLA, WYNN

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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