IWM New All-time Closing High as AAPL, AMZN, INTC, MU and WDC Lead NDX...

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QQQ and SPY closed above Tuesday’s hammer and gave a bounce entry signal on Wednesday.  DIA closed near Tuesday’s high and is a bounce setup for potential entry on Thursday.

IWM made a new all-time closing high as it closed above the horizontal resistance of its 3 ½ month ascending triangle, for a horizontal breakout entry signal.

The DJIA, closed up 62 points at 24,768, led by strength in UNH, DIS, NKE, AAPL and WMT.

Eight sectors were higher on Wednesday, led by materials XLB +1.19% and discretionary XLY +0.83%.

SPY up 1.14 at 272.24 on 53.9 million shares, 34% below average volume. Up on lower volume.

VIX down 1.21 at 13.42

Oil up .54 to 71.54

TLT down .45 at 116.80 on 6.5 million shares.

NKE +2.65%, GE +2.18%, led the DJIA, 18 advancers.

M +10.83%, UAA +8.69% and AIZ +4.72%, led the SPX.

MELI +4.95%, WDC +4.87%, MU +4.61%, and BIDU +4.47%, led the NDX.

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

Up: IWM, QQQ, SPY, DIA

Down:

Breadth strengthened on Wednesday, as advancers led 1,895 to 993 on the NYSE and led 1,900 to 988 on the NASDAQ.

The SPY MFC green line is pointed up and is at 92, bullish. 

Uptrend sectors:  XLE, XLK, XLRE,

Neutral sectors: XLF, XLY, XLV, XLI, XLB, XLU

Down trend sectors: XLP

Intermediate-term trending stocks:  Many of these stocks have had significant pull backs over the past two months and it is appropriate to wait for the uptrend to resume before entry… RACE, ADBE, IBKR, ETFC, MA, V, ISRG, WIX, NDAQ, WYNN, VRSN, TAL, COP, CRM, NTAP, RNG, AA, WUBA, FCAU, NVDA, SQ, ALGN, AKAM, SHOP,

BA, MU, MAR, CMA, CME, ANET, HRS, KORS,

DLTR, WB, EL, TPR,

74 of 100 NDX stocks closed higher on Wednesday.

73 NDX stocks are above their 30 DMA. 

NDX Stocks to Watch on Thursday:

Moving Above 30 DMA = 5

HOLX, MYL, STX, VRTX, WDC,

Moving Below 30 DMA = 0

The 6-month intermediate and long-term trends are still up.  The three-month trend is sideways.  The ten-day trend is sideways.

3-month Intermediate Term Market Trend: Sideways

3-day Short Term Market Trend: Sideways

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