Stocks finished higher on Wednesday. The Dow was up 78 points to 17918. The S&P 500 gained 11 points to 2099 and the Nasdaq Composite added 36 points to 4859. The volume totals were higher than the prior session on the NYSE and on the Nasdaq exchange. Advancers led decliners by nearly a 2-1 margin on the NYSE and by 3-2 on the Nasdaq exchange. There were 51 high-ranked companies from the Leaders List that made new 52-week highs and were listed on the BreakOuts Page, versus the total of 58 on the prior session. New 52-week highs outnumbered new 52-week lows on both the NYSE and the Nasdaq exchange.

Charts used courtesy of www.stockcharts.com

PICTURED: The Nasdaq Composite Index rebounded above its 50 and 200-day moving average (DMA) lines with a gain backed by higher volume.

Big gains for the major indices and strong closes near each session high last Tuesday, Wednesday, and Thursday effectively put an end to the "correction" noted in prior commentaries. Experts at the newspaper stated that the bullish action signaled a new "confirmed uptrend" for the market (M criteria).  

The S&P 500 Index, Dow Jones Industrial Average and Nasdaq Composite Index have unanimously rebounded above their 50-day moving average (DMA) lines following recent damaging losses on much heavy volume.  On the Featured Stocks Page a few noteworthy candidates remain, however in recent weeks few have made meaningful headway.

The major averages erased a morning retreat amid a rally in Health Care shares and optimistic updates on the economy. The Federal Reserve also released the minutes from its June policy meeting. The release conveyed the central bank’s hesitance to tighten interest rate policy after May’s soft jobs report and the recent international volatility. On the data front, an update the U.S. services sector rose to 51.4 in June, above expectations of a 51.3 reading. In a separate release the ISM’s non-manufacturing index showed the fastest expansion in seven months.

Eight of 10 sectors in the S&P 500 advanced on the session. Health Care shares paced the gains as Celgene (CELG +4.38%) rose. In M&A news, Nortek (NTK +38.55%) surged after agreeing to a $2.8 billion takeover offer from Melrose Industries. Walgreens Boots Alliance (WBA -2.36%) fell as the drugstore operator’s revenue fell short of forecasts. Netflix (NFLX -3.38%) fell after being the subject of negative analyst commentary.

Treasuries finished mixed with the benchmark 10-year note up 1/32 to yield 1.37%. In commodities, NYMEX WTI crude added 1.4% to $47.25/barrel. COMEX gold was up 0.5% to $1365.90/ounce. In FOREX, the yen gained against the dollar.

The Broker/Dealer Index ($XBD +0.82%) and the Bank Index ($BKX +0.68%) both edged higher and lifted the major averages on Wednesday. The Retail Index ($RLX +1.10%) gained ground, and the Gold & Silver index ($XAU +3.27%) was a standout gainer. The Biotechnology Index ($BTK +1.86%) outpaced smaller gains from the Networking Index ($NWX +0.54%) and the Semiconductor Index ($SOX +0.15%). Energy-linked shares had a negative bias as the Oil Services Index ($OSX -0.63%) edged lower and the Integrated Oil Index ($XOI -0.03%) finished flat.

Charts courtesy www.stockcharts.com

Color Codes Explained :
Y - Better candidates highlighted by our staff of experts.
G - Previously featured in past reports as yellow but may no longer be buyable under the guidelines.

***Last / Change / Volume data in this table is the closing quote data***

Symbol/Exchange Company Name Industry Group	PRICE	CHANGE (%Change)	Day High	Volume (% DAV) (% 50 day avg vol)	52 Wk Hi % From Hi	Featured Date	Price Featured	Pivot Featured
								Max Buy
TDG - NYSE Transdigm Group Inc AEROSPACE/DEFENSE - Aerospace/Defense Products and; Services	$262.32	+2.51 0.97%	$262.71	273,740 31.50% of 50 DAV 50 DAV is 869,000	$268.00 -2.12%	5/11/2016	$248.33	PP = $245.00
								MB = $257.25
Most Recent Note - 7/6/2016 5:11:24 PM G - Recent lows and its 50 DMA line ($251.84) define important near-term support to watch on pullbacks. See the latest FSU analysis for more details and an annotated graph. >>> FEATURED STOCK ARTICLE : Near Highs After Finding Support Above 50-Day Moving Average Line - 7/1/2016  |  View all notes | Set NEW NOTE alert | Company Profile | SEC News | Chart | Request a new note C A  S  I
NTES - NASDAQ Netease Inc Adr INTERNET - Internet Information Providers	$186.12	-0.72 -0.39%	$188.48	1,633,238 117.92% of 50 DAV 50 DAV is 1,385,000	$193.44 -3.78%	6/29/2016	$182.42	PP = $186.55
								MB = $195.88
Most Recent Note - 7/6/2016 5:09:10 PM Y - Consolidating near prior highs after triggering a technical buy signal with a volume-driven gain on 6/30/16. Highlighted in yellow with pivot point cited based on its 12/29/15 high plus 10 cents in the 6/29/16 mid-day report (read here). >>> FEATURED STOCK ARTICLE : Rallying Within Striking Distance of Highs - 6/29/2016  |  View all notes | Set NEW NOTE alert | Company Profile | SEC News | Chart | Request a new note C A  S  I
MXL - NYSE Maxlinear Inc Cl A Telecom-Infrastructure	$17.81	+0.21 1.19%	$17.92	842,510 75.29% of 50 DAV 50 DAV is 1,119,000	$20.98 -15.10%	5/16/2016	$19.24	PP = $19.20
								MB = $20.16
Most Recent Note - 7/5/2016 5:36:02 PM G - The 200 DMA line and prior lows in the $15-16 area define the next important support area. See the latest FSU analysis for more details and a new annotated graph. >>> FEATURED STOCK ARTICLE : Slump Into Prior Base and Below 50-Day Moving Average Raised Concerns - 7/5/2016  |  View all notes | Set NEW NOTE alert | Company Profile | SEC News | Chart | Request a new note C A  S  I
PATK - NASDAQ Patrick Industries Inc WHOLESALE - Building Materials Wholesale	$62.40	+1.84 3.04%	$63.83	387,937 269.40% of 50 DAV 50 DAV is 144,000	$62.27 0.22%	5/24/2016	$53.45	PP = $50.68
								MB = $53.21
Most Recent Note - 7/6/2016 12:32:33 PM G - Hitting another new high today, getting more extended from any sound base following volume-driven gains. Disciplined investors avoid chasing stocks more than +5% above prior highs. Its 50 DMA line ($52.12) defines near-term support to watch on pullbacks. >>> FEATURED STOCK ARTICLE : Getting Extended From Prior Base After More Volume-Driven Gains - 7/6/2016  |  View all notes | Set NEW NOTE alert | Company Profile | SEC News | Chart | Request a new note C A  S  I
FBHS - NYSE Fortune Brands Hme & Sec Bldg-Constr Prds/Misc	$58.59	+0.83 1.44%	$58.68	1,149,116 66.38% of 50 DAV 50 DAV is 1,731,000	$59.98 -2.32%	6/22/2016	$57.71	PP = $60.08
								MB = $63.08
Most Recent Note - 7/5/2016 5:38:20 PM Y - Consolidating after a quiet rebound above its 50 DMA line ($57.03) helped its outlook to improve. Members were repeatedly reminded since first featured in the 6/22/16 mid-day report - "It needs subsequent volume-driven gains above the pivot point to trigger a technical buy signal." >>> FEATURED STOCK ARTICLE : Wait Continues for Technical Breakout - 6/22/2016  |  View all notes | Set NEW NOTE alert | Company Profile | SEC News | Chart | Request a new note C A  S  I
Symbol/Exchange Company Name Industry Group	PRICE	CHANGE (%Change)	Day High	Volume (% DAV) (% 50 day avg vol)	52 Wk Hi % From Hi	Featured Date	Price Featured	Pivot Featured
								Max Buy
NVEE - NASDAQ N V 5 Global Inc Comml Svcs-Consulting	$27.36	+0.37 1.37%	$27.58	41,247 34.37% of 50 DAV 50 DAV is 120,000	$30.21 -9.43%	4/19/2016	$28.20	PP = $28.10
								MB = $29.51
Most Recent Note - 7/6/2016 5:10:23 PM Y - Color code is changed to yellow after quietly rebounding above its 50 DMA line ($27.15). Faces a little resistance due to overhead supply. Recent lows in the $24 area define the next important support to watch. >>> FEATURED STOCK ARTICLE : Perched Near Highs After Rebound Above 50-Day Average - 6/30/2016  |  View all notes | Set NEW NOTE alert | Company Profile | SEC News | Chart | Request a new note C A  S  I