The major averages erased earlier losses to close higher on Wednesday. The Dow climbed 39 points to 17,554. The S&P 500 advanced 9 points to 2,032. The NASDAQ gained 12 points to 4,667. The volume total was lighter on the NYSE and on the Nasdaq exchange. Breadth was positive as advancers led decliners by a 3-2 margin on the NYSE, but decliners led advancers by a 4-3 margin on the Nasdaq exchange. Leadership contracted as there were 33 high-ranked companies from the CANSLIM.net Leaders List that made new 52-week highs and appeared on the CANSLIM.net BreakOuts Page, down from the prior session total of 60 stocks. New 52-week highs outnumbered new 52-week lows on the NYSE, but new lows led new highs on the Nasdaq exchange. There were gains for 6 of the 10 high-ranked companies currently on the Featured Stocks Page. 

Regarding the M criteria of the fact-based investment system, further improvement from the broader market would be a reassuring sign. The major averages have endured distributional pressure and rallied without great conviction for the most part since 1/08/15 when a +1.8% gain from the Nasdaq Composite Index with higher volume was noted as a follow-through day.  New buying efforts should only be made in stocks meeting all fundamental and technical guidelines.

PICTURED: The Dow Jones Industrial Average is consolidating below its 50-day moving average (DMA) line. A rebound above that short-term average is needed for its technical stance and outlook to improve.

The Featured Stocks Page shows recent notes and Headline Links directing members to detailed analysis with data-packed graphs annotated by a Certified expert.  See the Premium Member Homepage for archives to all prior pay reports published.

The Retail Index ($RLX +1.34%) was a positive influence on the major averages along with modest gains from financial shares as the Bank Index ($BKX +0.58%) outpaced the Broker/Dealer Index ($XBD +0.27%). Energy-related shares posted gains as the Integrated Oil Index ($XOI +2.09%) and Oil Services Index ($OSX +2.50%) both posted gains of greater than +2% on the session. The Semiconductor Index ($SOX +1.13%) and Networking Index ($NWX +0.55%) also rose, meanwhile the Biotechnology Index ($BTK -1.18%) and the Gold & Silver Index ($XAU -1.05%) both created a drag on the major averages.

Charts courtesy www.stockcharts.com

PICTURED: The Bank Index ($BKX +0.58%) recently slumped below its 200-day moving average (DMA) line toward October 2014 lows. Longtime readers of this commentary should remember that the financial groups are very important "leading indicators", so the unhealthy action from the financial indexes of late has raised concerns and hurt the broader market outlook.

The high-ranked Computer - Tech Services firm reported earnings +40% on +38% sales revenues for the Sep '14 quarter and also gave upbeat sales guidance. It had previously reported earnings +33% on +31% sales revenues for the Jun '14 quarter. Its 4 consecutive quarters with earnings above the +25% guideline makes it a solid match concerning the C criteria. Annual earnings growth (A criteria) has been strong.

It completed Secondary Offerings 8/30/13 and 9/17/13. The number of top-rated funds owning its shares rose from 254 in Dec '13 to 304 in Dec '14, a reassuring sign concerning the I criteria. Its current Up/Down Volume Ratio of 1.0 is an unbiased indication that for the past 50 days its shares have been in neutral.  Its small supply of only 36.4 million shares (S criteria) can contribute to greater volatility in the event of institutional buying or selling.

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
ACT - NYSE Actavis plc Medical-Generic Drugs	$275.77	+6.76 2.51%	$276.90	3,624,581 114.70% of 50 DAV 50 DAV is 3,160,000	$276.18 -0.15%	12/29/2014	$260.22	PP = $272.85
								MB = $286.49
Most Recent Note - 1/21/2015 6:45:32 PM Y - Rallied for a new 52-week high and best-ever close today however the gain was backed by near average volume. Gains above a stock's pivot point must have at least +40% above average volume to trigger a proper technical buy signal. >>> FEATURED STOCK ARTICLE : Perched Near High Again With No Resistance - 1/16/2015 View all notes | Set NEW NOTE alert | CANSLIM.net Company Profile | SEC News | Chart | Request a new note C A N S L I M
AMBA - NASDAQ Ambarella Inc ELECTRONICS - Semiconductor - Specialized	$59.11	-0.11 -0.19%	$60.44	1,077,900 50.89% of 50 DAV 50 DAV is 2,118,000	$63.20 -6.47%	1/7/2015	$54.96	PP = $58.10
								MB = $61.01
Most Recent Note - 1/20/2015 7:00:36 PM Y - Posted 2 consecutive gains on below average volume yet found support above its 50 DMA line after volume-driven losses last week completely negated the recent technical breakout. More damaging losses would raise serious concerns. >>> FEATURED STOCK ARTICLE : Strong Finish Triggered a Technical Buy Signal - 1/7/2015 View all notes | Set NEW NOTE alert | CANSLIM.net Company Profile | SEC News | Chart | Request a new note C A N S L I M
EPAM - NYSE Epam Systems Inc COMPUTER SOFTWARE and SERVICES - Information Technology Service	$46.41	-0.12 -0.26%	$47.19	240,012 69.17% of 50 DAV 50 DAV is 347,000	$52.89 -12.25%	10/23/2014	$45.21	PP = $46.09
								MB = $48.39
Most Recent Note - 1/21/2015 6:47:50 PM G - Recent gains have lacked volume conviction and a rebound above its 50 DMA line ($48.53 is still needed for its outlook to improve. See the latest FSU analysis for more details and new annotated graphs. >>> FEATURED STOCK ARTICLE : Recovery Above 50-Day Average Needed for Outlook to Improve - 1/21/2015 View all notes | Set NEW NOTE alert | CANSLIM.net Company Profile | SEC News | Chart | Request a new note C A N S L I M
FB - NASDAQ Facebook Inc Cl A INTERNET	$76.74	+0.50 0.66%	$77.30	25,083,272 104.69% of 50 DAV 50 DAV is 23,959,300	$82.17 -6.61%	12/22/2014	$81.79	PP = $81.26
								MB = $85.32
Most Recent Note - 1/20/2015 7:05:31 PM G - Rebounded near its 50 DMA line ($76.53) with today's 2nd consecutive gain on near average volume. Relative Strength rating has slumped to 78, below the 80+ minimum guideline for buy candidates. Needs a rebound above the 50 DMA line for its outlook to improve, and it also faces resistance due to overhead supply up through the $82 level. Subsequent volume-driven gains above the pivot point are needed to clinch a proper new (or add-on) technical buy signal. >>> FEATURED STOCK ARTICLE : Consolidating Near 50-Day Average After Stalling at 52-Week High - 1/12/2015 View all notes | Set NEW NOTE alert | CANSLIM.net Company Profile | SEC News | Chart | Request a new note C A N S L I M
ILMN - NASDAQ Illumina Inc DRUGS - Biotechnology	$191.77	-4.96 -2.52%	$194.29	2,073,909 178.02% of 50 DAV 50 DAV is 1,165,000	$199.48 -3.87%	12/30/2014	$186.26	PP = $196.00
								MB = $205.80
Most Recent Note - 1/21/2015 5:44:31 PM Y - Gapped down today for a volume-driven loss yet stayed above its 50 DMA line ($187.53). Rebounded above that important short-term average with a considerable gain backed by 2 times average volume on the prior session. >>> FEATURED STOCK ARTICLE : Rebound Above 50-Day Moving Average Helped Technical Stance - 1/20/2015 View all notes | Set NEW NOTE alert | CANSLIM.net Company Profile | SEC News | Chart | Request a new note C A N S L I M
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
NXPI - NASDAQ Nxp Semiconductors N V ELECTRONICS - Semiconductor - Broad Line	$79.30	+0.52 0.66%	$80.16	2,608,737 88.73% of 50 DAV 50 DAV is 2,940,000	$82.76 -4.18%	1/5/2015	$76.43	PP = $78.44
								MB = $82.36
Most Recent Note - 1/20/2015 7:08:38 PM Y - Found support at its 50 DMA line when pulling back following a "negative reversal" last week at its 52-week high. More damaging losses would raise concerns. >>> FEATURED STOCK ARTICLE : Little Resistance Remains Due to Overhead Supply - 1/5/2015 View all notes | Set NEW NOTE alert | CANSLIM.net Company Profile | SEC News | Chart | Request a new note C A N S L I M
PANW - NYSE Palo Alto Networks Computer Sftwr-Security	$125.35	+0.89 0.72%	$126.19	758,368 55.23% of 50 DAV 50 DAV is 1,373,000	$129.42 -3.15%	7/30/2014	$84.21	PP = $85.88
								MB = $90.17
Most Recent Note - 1/20/2015 6:57:23 PM G - Perched near its all-time high, still stubbornly holding its ground with volume totals cooling. It still has not formed any sound base. The 50 DMA line ($118.66) and recent low ($117.60 on 1/02/15) define important near-term support to watch where violations may trigger technical sell signals. >>> FEATURED STOCK ARTICLE : Tech Firm Still Extended From Any Sound Base Pattern - 1/8/2015 View all notes | Set NEW NOTE alert | CANSLIM.net Company Profile | SEC News | Chart | Request a new note C A N S L I M
RH - NYSE Restoration Hardware Hld RETAIL - Home Furnishing Stores	$91.85	+1.33 1.47%	$92.28	484,631 52.00% of 50 DAV 50 DAV is 932,000	$100.66 -8.75%	12/11/2014	$98.66	PP = $94.60
								MB = $99.33
Most Recent Note - 1/20/2015 7:11:14 PM Y - Recent losses negated the prior breakout yet it has been holding its ground at its 50 DMA line ($89.13) defining support. A subsequent violation would raise greater concerns and trigger a technical sell signal. >>> FEATURED STOCK ARTICLE : Fell Near 50-Day Moving Average After Negating Prior Breakout - 1/15/2015 View all notes | Set NEW NOTE alert | CANSLIM.net Company Profile | SEC News | Chart | Request a new note C A N S L I M
UIHC - NASDAQ United Insurance Holding Insurance-Prop/Cas/Titl	$23.28	-0.03 -0.13%	$23.65	198,758 96.02% of 50 DAV 50 DAV is 207,000	$23.38 -0.43%	12/5/2014	$20.64	PP = $20.31
								MB = $21.33
Most Recent Note - 1/20/2015 6:51:10 PM G - Extended from any sound base, it finished near the session high and hit a new 52-week high with +59% above average volume behind today's 5th consecutive gain. Its 50 DMA line defines near-term support to watch. >>> FEATURED STOCK ARTICLE : Consolidation Following "Negative Reversal" Not Considered a Sound Base - 1/13/2015 View all notes | Set NEW NOTE alert | CANSLIM.net Company Profile | SEC News | Chart | Request a new note C A N S L I M
VRX - NYSE Valeant Pharmaceuticals DRUGS - Drug Manufacturers - Other	$157.02	+0.97 0.62%	$158.18	2,005,810 91.59% of 50 DAV 50 DAV is 2,190,000	$159.70 -1.68%	1/5/2015	$144.84	PP = $149.90
								MB = $157.40
Most Recent Note - 1/20/2015 6:53:16 PM Y - Color code is changed to yellow while quietly consolidating just below its "max buy" level. Prior highs in the $149 area define initial support to watch on pullbacks. >>> FEATURED STOCK ARTICLE : Formed a Big Cup-With-Handle Base Setup - 1/6/2015 View all notes | Set NEW NOTE alert | CANSLIM.net Company Profile | SEC News | Chart | Request a new note C A N S L I M
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