Rally Reverses Tuesday's Late Selloff...Small Cap IWM Leads...

 
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NDX +211.92, +1.88%, gapped up and traded higher, reversing Tuesday’s selloff and closing above its 30 DMA again.  The rally was led by weakness in AMZN, MSFT, AAPL, TSLA, NFLX and ADBE. 
 
SPX +58.50, +1.74%, closes at 3,419. SPX gapped up at the open and traded higher and totally reversed Tuesday’s pullback and closed above Monday’s close.  Its highest close since September 4.
 
All eleven sectors were higher on Wednesday, led by XLB, XLY and XLI.

Basic Materials leaders: FCX, MLM, AA, MOS
Consumer Discretionary leaders: TPR, GPS, ETSY, CCL
Industrials leaders: AAL, UAL, PH, RHI
 
SPY up +5.83 at 340.76 on 57.0 million shares, below average volume, up on lower volume.
VIX down -1.42 at 28.06
 
CRM, BA, HON, UNH led the DJIA, 30 advancers, +29
SWN, FCX, IVZ, TPR led the SPX, 448 advancers
ALXN, NFLX, DXCM, MELI led the NDX, 95 advancers
 
The two-year trend term is up.  The one-year trend is up.
 
Up: IWM, DIA, SPY, QQQ,
Down:
 
Breadth strengthened on Wednesday as advancers led 2,219 to 817 on the NYSE and led 2,738 to 793 on the NASDAQ
 
The SPY MFC green line is pointed up at 46 and is bullish.  Price action is a bounce back to the area of its MACD divergence price target.
 
Uptrend sectors:  XLB, XLI, XLY, XLP, XLK, XLC, XLV,
Neutral sectors:  XLRE, XLF, XLU,
Down trend sectors: XLE,
 
The 6-month intermediate trend is up.  The ten-day trend is up.
 
3-month Intermediate Term Market Trend: Up
3-day Short Term Market Trend: Up
 
95 of 100 NDX stocks closed higher on Wednesday.
 
70 NDX stocks are above their 30 DMA:   AVGO, ZM, ALXN, SGEN, WDAY, CDW, CHTR, CPRT, CTAS, CTSH, FISV, IDXX, INTC, MRNA, NVDA, PAYX, QCOM, SBUX, SNPS, TCOM, ADP, BIIB, COST, FOXA, LRCX, SWKS, TXN, XLNX, AMD, KLAC, BIDU, DOCU, NFLX, NXPI, ROST, XEL, SIRI, AMAT, AMGN, CERN, EXC, MCHP, MELI, MXIM, PCAR, REGN, SPLK, ADBE, ADI, ALGN, ANSS, ASML, BMRN, CDNS, CHKP, CSX, FAST, ILMN, INCY, INTU, ISRG, JD, LULU, MU, PEP, PYPL, TMUS, TSLA, WBA, WDC,
 
NDX Stocks to Watch on Thursday:
Moving Above 30 DMA = 23
ADBE, ADI, ALGN, ANSS, ASML, BMRN, CDNS, CHKP, CSX, FAST, ILMN, INCY, INTU, ISRG, JD, LULU, MU, PEP, PYPL, TMUS, TSLA, WBA, WDC,
 
 
Moving Below 30 DMA = 0
 
 
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