Stocks finished firmly higher on Wednesday. The Dow was up 284 points to 17694. The S&P 500 added 34 points to 2070 and the Nasdaq Composite gained 87 points to 4779. Volume totals were lighter on the NYSE and yet slightly higher on the Nasdaq exchange as the indices rebounded from a high-volume downdraft. Advancers led decliners by nearly a 6-1 margin on the NYSE and more than 4-1 on the Nasdaq exchange. There were 43 high-ranked companies from the Leaders List that made new 52-week highs and were listed on the BreakOuts Page, versus the total of 28 on the prior session. New 52-week highs outnumbered new 52-week lows on the NYSE and on the Nasdaq exchange.

Charts used courtesy of www.stockcharts.com

PICTURED: The S&P 500 Index rebounded on lighter volume after undercutting its 200-day moving average (DMA) line with big losses on heavy volume.

The S&P 500 Index, Dow Jones Industrial Average and Nasdaq Composite Index have unanimously violated their 50-day and 200-day moving average (DMA) lines with large losses. The technical damage signals that the prior market (M criteria) uptrend has ended and the market is in a correction. On the Featured Stocks Page a few noteworthy candidates remain, however in recent weeks few have made meaningful headway.

The major averages extended gains as crude rallied and global markets rebounded from the post-Brexit sell-off. The broad Euro STOXX 600 climbed 3.1% as a rally in Energy shares boosted the index. On the data front, personal income ticked up 0.2% while personal spending rose 0.4%. The PCE deflator, which is the Fed’s preferred proxy for inflation, ticked up 0.2% in May. In a separate release, pending home sales declined 3.7% in May, after increasing 3.9% the previous month.

All 10 sectors in the S&P 500 finished higher as Financials and Energy shares paced the gains. Nike (NKE +3.84%) rose after the company narrowly bested profit expectations. General Mills (GIS +3.19%) gained ground as the cereal maker reported better-than-expected earnings. Energy Transfer Equity (ETE +2.01%) rallied after terminating its $33 billion merger agreement with Williams Cos (WMB +0.97%). Autolive (ALV -1.51%) was a notable decliner.

Treasuries declined with the benchmark 10-year note down 12/32 to yield 1.50%. In commodities, NYMEX WTI crude climbed 3.3% to $49.41/barrel. COMEX gold gained 0.4% to $1323.70/ounce. In FOREX, the British pound strengthened 0.7% against the dollar.

The Broker/Dealer Index ($XBD +2.37%) and the Bank Index ($BKX +2.50%) both posted gains which helped underpin the major averages on Wednesday. The Retail Index ($RLX +1.23%) rose. The Biotechnology Index ($BTK +2.04%), Networking Index ($NWX +2.30%) and Semiconductor Index ($SOX +2.04%) posted unanimous gains. Commodity-linked shares also had a positive bias as the Oil Services Index ($OSX +2.70%) and the Integrated Oil Index ($XOI +2.61%) both rose along with the Gold & Silver Index ($XAU +2.71%). 

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	$260.90	+3.77 1.47%	$261.77	327,217 37.44% of 50 DAV 50 DAV is 874,000	$268.00 -2.65%	5/11/2016	$248.33	PP = $245.00
								MB = $257.25
Most Recent Note - 6/27/2016 5:21:12 PM Y - Color code is changed to yellow after retreating below its "max buy" level with a loss on light volume. Slumped toward its 50 DMA line ($247.73) defining near-term support above prior highs ($244). More damaging losses would raise concerns. >>> FEATURED STOCK ARTICLE : Getting Extended From Prior Base After More Volume-Driven Gains - 6/1/2016  |  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	$181.48	+8.48 4.90%	$183.89	1,682,018 127.72% of 50 DAV 50 DAV is 1,317,000	$186.45 -2.67%	6/29/2016	$182.42	PP = $186.55
								MB = $195.88
Most Recent Note - 6/29/2016 5:19:37 PM Y - Rallied above prior highs to challenge its 52-week high, however gains into new high territory backed by heavy volume are still needed to trigger a convincing technical buy signal. It was highlighted in yellow with pivot point cited based on its 12/29/15 high plus 10 cents in the earlier mid-day report. Reported earnings +79% on +108% sales revenues for the Mar '16 quarter, marking its 3rd consecutive quarter with earnings above the +25% minimum guideline (C criteria). See the latest FSU analysis for more details and a new annotated graph. >>> 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	$17.42	-0.09 -0.51%	$18.01	1,129,739 90.96% of 50 DAV 50 DAV is 1,242,000	$20.98 -16.96%	5/16/2016	$19.24	PP = $19.20
								MB = $20.16
Most Recent Note - 6/27/2016 5:17:22 PM G - Sank further below its 50 DMA line with another big volume-driven loss. The 200 DMA line and prior lows in the $15-16 area define the next important support area. >>> FEATURED STOCK ARTICLE : Extended From Latest Base After Recently Wedging Higher - 6/2/2016  |  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	$58.52	+0.89 1.54%	$59.32	167,927 119.10% of 50 DAV 50 DAV is 141,000	$58.82 -0.51%	5/24/2016	$53.45	PP = $50.68
								MB = $53.21
Most Recent Note - 6/28/2016 12:40:28 PM G - Endured recent distributional pressure yet hit another new high today, getting more extended from any sound base. Prior highs define near term support in the $50 area along with its 50 DMA line ($50.86). >>> FEATURED STOCK ARTICLE : Extended From Base After Another Volume-Driven Gain - 6/16/2016  |  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	$56.71	+0.56 1.00%	$56.91	1,176,131 67.33% of 50 DAV 50 DAV is 1,746,900	$59.98 -5.45%	6/22/2016	$57.71	PP = $60.08
								MB = $63.08
Most Recent Note - 6/28/2016 5:44:55 PM G - Posted a gain with average volume today following consecutive volume-driven losses violating its 50 DMA line which is now downward sloping. A rebound above the 50 DMA line ($57.06) is needed for its outlook to improve. After highlighted in yellow with pivot point based on its 4/21/16 high plus 10 cents members were reminded - "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	$27.28	+1.10 4.20%	$27.35	58,164 47.68% of 50 DAV 50 DAV is 122,000	$30.21 -9.70%	4/19/2016	$28.20	PP = $28.10
								MB = $29.51
Most Recent Note - 6/29/2016 5:21:32 PM Y - Finished near the session high with a gain on higher but below average volume. Color code is changed to yellow following a rebound above its 50 DMA line. Recent lows in the $24 area define the next important support to watch. >>> FEATURED STOCK ARTICLE : Consolidating Near Highs After Completing New Public Offering - 5/31/2016  |  View all notes | Set NEW NOTE alert | Company Profile | SEC News | Chart | Request a new note C A  S  I