Stocks finished lower on Wednesday. The Dow was down 37 points to 18495. The S&P 500 lost 6 points to 2175 and the Nasdaq Composite fell 20 points to 5204. The benchmark S&P 500 Index, the S&P 400 Mid Cap, and the S&P 600 Small Cap Index each remain near record highs. The volume totals were higher than the prior session on the NYSE and near the prior total on the Nasdaq exchange. Decliners led advancers by an 8-7 margin on the NYSE and by a 2-1 margin 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, matching the total of 51 on the prior session. New 52-week highs solidly 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 is perched near its record high.

Big gains for the major indices were noted in prior commentaries and that bullish action signaled a new "confirmed uptrend" for the market (M criteria). See the Featured Stocks Page which now lists a few noteworthy candidates that have made headway.

The major averages finished in negative territory as oil prices declined and investors weighed mixed corporate earnings releases. On the data front, Mortgage Bankers Association mortgage applications rose 7.1% last week. In a separate release, a Job Openings and Labor Turnover Survey update revealed job openings increased to 5.6 million in June, above last month’s reading of 5.5 million.

Six of 10 sectors in the S&P 500 declined on the session. Energy stocks retreated with crude as Exxon Mobil (XOM -1.75%) slid. Health Care shares lagged with Perrigo (PRGO -9.56%) falling after the company cut its full-year revenue outlook. In earnings, SunPower Corp (SPWR -30.24%) fell with news the solar products manufacturer plans to cut 1,200 jobs this year. Michael Kors (KORS -2.79%) fell as comparable-store sales fell more-than-expected. In the consumer space, Disney (DIS +1.23%) rose as quarterly revenue exceeded expectations. Ralph Lauren (RL +8.5%) rose after the retailer’s profit topped analyst forecast.

Treasuries advanced with the benchmark 10-year note up 12/32 to yield 1.50%. In commodities, NYMEX WTI crude retreated 3.1% to $41.46/barrel, after the EIA report revealed U.S. crude inventories unexpectedly rose by 1.1 million barrels. COMEX gold gained 0.4% to $1344.30/ounce. In FOREX, the Dollar Index fell. 0.5%.

The Bank Index ($BKX -3.03%) outpaced the Broker/Dealer Index ($XBD -0.64%) to the downside. The Retail Index ($RLX +0.14%) eked out a tiny gain. The tech sector was mostly lower as the Biotechnology Index ($BTK -3.03%) outpaced the Semiconductor Index ($SOX -0.76%) to the downside and the Networking Index ($NWX -0.08%) finished flat. Commodity-linked groups were mixed as the Oil Services Index ($OSX -2.35%) and the Integrated Oil Index ($XOI -0.96%) both fell while the Gold & Silver Index ($XAU +1.46%) gained ground.

Charts courtesy www.stockcharts.com

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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	$287.60	+0.56 0.20%	$288.71	656,545 89.94% of 50 DAV 50 DAV is 730,000	$287.16 0.15%	5/11/2016	$248.33	PP = $245.00
								MB = $257.25
Most Recent Note - 8/8/2016 5:40:21 PM G - Touched a new high today but reversed into the red. Volume was below average while recently wedging into new all-time high territory. Its 50 DMA line and prior highs near $268 define important near-term support to watch on pullbacks. >>> FEATURED STOCK ARTICLE : Gains Lack Great Volume While Wedging to New Highs - 7/27/2016  |  View all notes | Set NEW NOTE alert | Company Profile | SEC News | Chart | Request a new note C A  S  I
IESC - NASDAQ I E S Holdings Inc Bldg-Maintenance and Svc	$15.22	+0.45 3.05%	$15.28	74,341 79.94% of 50 DAV 50 DAV is 93,000	$16.77 -9.24%	7/26/2016	$15.79	PP = $15.74
								MB = $16.53
Most Recent Note - 8/8/2016 12:27:38 PM Y - Gapped up today for a considerable gain. Volume and volatility often increase near earnings news. Reported earnings +79% on +25% sales revenues, continuing its strong earnings track record while sales revenues showed encouraging acceleration. Found support near its 50 DMA line after its slump into the prior base raised concerns. >>> FEATURED STOCK ARTICLE : Volume-Driven Gain for New Highs Clinched Technical Buy Signal - 7/26/2016  |  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	$199.41	+0.42 0.21%	$201.39	776,279 61.76% of 50 DAV 50 DAV is 1,257,000	$210.27 -5.16%	6/29/2016	$182.42	PP = $186.55
								MB = $195.88
Most Recent Note - 8/8/2016 5:44:20 PM G - Volume totals have been cooling while consolidating. Disciplined investors avoid chasing stocks more than +5% above the prior high or pivot point. Prior highs near $186 and its 50 DMA line define important support to watch on pullbacks. >>> FEATURED STOCK ARTICLE : Perched +5% Above Prior Highs Following Volume-Driven Gains - 7/15/2016  |  View all notes | Set NEW NOTE alert | Company Profile | SEC News | Chart | Request a new note C A  S  I
HTHT - NASDAQ China Lodging Group Ads LEISURE - Lodging	$38.01	+0.05 0.13%	$38.17	60,084 29.03% of 50 DAV 50 DAV is 207,000	$41.76 -8.98%	7/13/2016	$38.87	PP = $39.29
								MB = $41.25
Most Recent Note - 8/10/2016 5:43:18 PM Y - Still consolidating above its 50 DMA line ($36.62) which defines near-term support to watch. Stalled after the 7/15/16 gain backed by +57% above average volume clinched a technical buy signal. >>> FEATURED STOCK ARTICLE : Negative Reversal After Touching New High - 7/13/2016  |  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	$17.41	+0.11 0.64%	$18.35	3,873,537 391.27% of 50 DAV 50 DAV is 990,000	$22.50 -22.62%	5/16/2016	$19.24	PP = $19.20
								MB = $20.16
Most Recent Note - 8/10/2016 2:07:07 PM G - Rebounding slightly today. Gapped down on the prior session after reporting earnings +127% on +44% sales revenues for the Jun '16 quarter. Violated its 50 DMA line with a damaging volume-driven loss triggering a technical sell signal. Its 200 DMA line ($17.37) and prior lows define the next important support. >>> FEATURED STOCK ARTICLE : Consolidating Near Highs Above its "Max Buy" Level - 7/29/2016  |  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
PATK - NASDAQ Patrick Industries Inc WHOLESALE - Building Materials Wholesale	$61.62	-0.37 -0.60%	$62.09	85,924 56.53% of 50 DAV 50 DAV is 152,000	$69.53 -11.38%	5/24/2016	$53.45	PP = $50.68
								MB = $53.21
Most Recent Note - 8/8/2016 5:42:15 PM G - Pulled back today on higher (near average) volume, slumping toward its 50 DMA line ($59.63) defining important near-term support to watch. >>> FEATURED STOCK ARTICLE : Rallied +30% in 2 Months Since Breakout Was Featured - 7/28/2016  |  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	$63.95	+0.08 0.13%	$64.04	1,029,862 53.89% of 50 DAV 50 DAV is 1,911,000	$64.47 -0.81%	6/22/2016	$57.71	PP = $60.08
								MB = $63.08
Most Recent Note - 8/8/2016 5:38:56 PM G - Finished at a best-ever close with today's 4th consecutive small gain on below average volume, inching further above its "max buy" level. Rallied for new highs on 7/28/16 with +66% above average volume following strong earnings news. >>> FEATURED STOCK ARTICLE : Perched Above "Max Buy" Level Following Volume-Driven Gain - 8/1/2016  |  View all notes | Set NEW NOTE alert | Company Profile | SEC News | Chart | Request a new note C A  S  I
NVEE - NASDAQ N V 5 Global Inc Comml Svcs-Consulting	$33.73	+0.06 0.18%	$33.91	48,807 49.80% of 50 DAV 50 DAV is 98,000	$37.00 -8.84%	4/19/2016	$28.20	PP = $28.10
								MB = $29.51
Most Recent Note - 8/5/2016 12:42:56 PM G - Gapped up and hit another new 52-week high today but erased most of the early gains. Reported earnings +23% on +62% sales revenues, below the +25% minimum earnings guideline (C criteria), raising concerns. Its 50 DMA line ($29.30) and prior highs define important near-term support to watch on pullbacks. >>> FEATURED STOCK ARTICLE : Winning Streak Leaves Leader Extended From Prior Base Pattern - 7/18/2016  |  View all notes | Set NEW NOTE alert | Company Profile | SEC News | Chart | Request a new note C A  S  I
SFBS - NASDAQ Servisfirst Bancshares BANKING - Regional - Southeast Banks	$50.41	-0.89 -1.73%	$51.27	63,685 61.24% of 50 DAV 50 DAV is 104,000	$53.58 -5.92%	7/19/2016	$53.28	PP = $52.82
								MB = $55.46
Most Recent Note - 8/5/2016 5:24:47 PM Y - Rebounded above its 50 DMA line ($50.24) and finished near the session high. A volume-driven gain and strong close above the pivot point are needed to clinch a convincing technical buy signal. It has been quietly consolidating since highlighted in yellow in the 7/19/16 mid-day report with pivot point cited based on the 6/01/16 high plus 10 cents. >>> FEATURED STOCK ARTICLE : Meeting Resistance Near Prior Highs - 7/20/2016  |  View all notes | Set NEW NOTE alert | Company Profile | SEC News | Chart | Request a new note C A  S  I
INGN - NASDAQ Inogen Inc HEALTH SERVICES - Medical Instruments and Supplies	$57.07	-1.28 -2.19%	$58.41	139,881 61.35% of 50 DAV 50 DAV is 228,000	$58.78 -2.91%	8/5/2016	$51.72	PP = $56.08
								MB = $58.88
Most Recent Note - 8/9/2016 9:40:11 PM Y - Rallied further into new high territory today with its 5th consecutive gain backed by higher volume triggering a technical buy signal. See the latest FSU analysis for more details and a new annotated graph." >>> FEATURED STOCK ARTICLE : Perched Within Striking Distance of Highs Following Rebound - 8/5/2016  |  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
OLLI - NASDAQ Ollie's Bargain Outlet Retail-DiscountandVariety	$27.01	+0.11 0.41%	$27.36	391,412 38.91% of 50 DAV 50 DAV is 1,006,000	$28.72 -5.95%	7/19/2016	$26.42	PP = $28.82
								MB = $30.26
Most Recent Note - 8/8/2016 5:47:06 PM Y - Wedging higher with gains lacking great volume conviction after it found prompt support at its 50 DMA line and managed a "positive reversal" when last noted on 8/03/16. Volume-driven gains above the pivot point are still needed to trigger a convincing technical buy signal. >>> FEATURED STOCK ARTICLE : Retail Firm Approaching Pivot Point - 7/19/2016  |  View all notes | Set NEW NOTE alert | Company Profile | SEC News | Chart | Request a new note C A  S  I