Behind Wednesday's big gains the volume was reported higher on the NYSE and on the Nasdaq exchange, a sign of buying from the institutional crowd. Breadth was positive as advancers led decliners by almost a 7-1 margin on the NYSE and 5-1 on the Nasdaq exchange. There were 15 high-ranked companies from the CANSLIM.net Leaders List that made new 52-week highs and appeared on the CANSLIM.net BreakOuts Page, up from the prior session total of 4 stocks. Despite the improved leadership new 52-week lows outnumbered new 52-week highs on the NYSE and on the Nasdaq exchange. There gains for all 10 high-ranked companies currently on the Featured Stocks Page, a list that has recently been getting trimmed. Weakness was noted as the uptrend came under pressure and the major averages, technically, slumped below their respective 50-day moving average (DMA) lines. Leadership (new highs) has waned since Friday's poor action as the broader market (M criteria) earned the label of a "correction".  Disciplined investors should be especially watchful for technical sell signals in individual issues. The fact-based investment system suggests for investors to shift their bias toward selling and reducing market exposure until fresh strength appears in the broader market.

PICTURED: The Dow jumped 288 points to 17,356, rebounding above its 50-day moving average (DMA) line.

The major averages rallied on Wednesday helping the S&P 500 rebound from its lowest level since October as it gained 40 points to 2,012. The NASDAQ Composite rose 96 points to 4,644. Both indexes also rebounded above their respective 50 DMA line.

The Retail Index ($RLX +1.85%) rallied and financial shares helped underpin the major averages' big gains on Wednesday. The Bank Index ($BKX +2.23%) and the Broker/Dealer Index ($XBD +2.91%) posted big gains. The tech sector saw unanimous gains from the Networking Index ($NWX +1.97%), Semiconductor Index ($SOX +2.16%) and the Biotechnology Index ($BTK +3.59%).  There were large gains from energy-related shares as the Oil Services Index ($OSX +4.05%) and Integrated Oil Index ($XOI +4.82%) rebounded from multi-year lows. The Gold & Silver Index ($XAU +5.32%) also was a standout gainer.

Charts courtesy www.stockcharts.com

PICTURED: The Oil Services Index ($OSX +4.05%) is rebounding from multi-year lows.  Its 50-day moving average (DMA) line acted as resistance when attempting to rally in prior months during its ongoing descent. 

Alexion Pharmaceuticals Inc (ALXN +$4.35 or +2.45% to $182.08) rebounded from earlier lows following a damaging volume-driven loss. The recent violation of its 50-day moving average (DMA) line triggered a technical sell signal. Prior highs in the $180 area may serve as support, but a subsequent rebound above its 50 DMA line is needed to help its outlook improve.  It was last shown in this FSU section on 11/28/14 with annotated graphs under the headline, "Quietly Consolidating Near All-Time High", hovering just above its "max buy" level. Disciplined investors avoid chasing stocks more than +5% above prior highs and always limit losses by selling any stock which falls more than -7% from its purchase price.

ALXN was highlighted in yellow with a pivot point based on its 2/25/14 high plus 10 cents in the 10/23/14 mid-day report (read here). The Medical - Biomed/Biotech industry group has demonstrated leadership and earned a 99 for its Group Relative Strength Rating, a reassuring sign concerning the L criteria. It reported earnings +53% on +39% sales revenues for the Sep '14 quarter, continuing its strong earnings history. Its Relative Strength Rank (88) remains high. It easily satisfies the C and A criteria with a very strong quarterly and annual earnings history which has earned it a highest possible 99 Earnings Per Share rank. The number of top-rated funds owning its shares rose from 1,325 in Dec '13 to 1,464 in Sep '14, a reassuring sign concerning the I criteria of the fact-based investment system. ALXN completed a new Public Offering on 5/25/12.

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	$260.90	+4.38 1.71%	$261.20	2,861,143 89.38% of 50 DAV 50 DAV is 3,201,000	$272.75 -4.34%	6/20/2014	$216.53	PP = $230.87
								MB = $242.41
Most Recent Note - 12/16/2014 5:54:54 PM G - Consolidating following recent volume-driven gains on news it plans to acquire Allergan (AGN) for $66 Billion. Extended from prior highs in the $249 area defining near-term support. >>> FEATURED STOCK ARTICLE : Consolidating After Rally on Acquisition Plans - 12/12/2014 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
AFSI - NASDAQ Amtrust Financial Svcs INSURANCE - Property and; Casualty Insurance	$57.74	+1.02 1.79%	$57.95	548,880 51.15% of 50 DAV 50 DAV is 1,073,000	$59.31 -2.66%	10/17/2014	$45.24	PP = $46.02
								MB = $48.32
Most Recent Note - 12/16/2014 2:41:06 PM G - Hit a new 52-week high on the prior session. Recently rising from a brief consolidation, not a sound base. Its 50 DMA line defines important near-term support. >>> FEATURED STOCK ARTICLE : Extended From Sound Base Pattern Identified Earlier - 12/10/2014 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
ALXN - NASDAQ Alexion Pharmaceuticals DRUGS - Drug Manufacturers - Other	$182.08	+4.35 2.45%	$182.82	1,953,673 174.59% of 50 DAV 50 DAV is 1,119,000	$203.30 -10.44%	10/23/2014	$184.01	PP = $185.53
								MB = $194.81
Most Recent Note - 12/17/2014 7:54:08 PM G - Recent violation of its 50 DMA line triggered a technical sell signal. Only a rebound above its 50 DMA line would help its outlook improve. See the latest FSU analysis for more details with new annotated graphs. >>> FEATURED STOCK ARTICLE : Recent 50-Day Moving Average Violation Triggered Sell Signal - 12/17/2014 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
BIDU - NASDAQ Baidu Inc Ads INTERNET - Internet Information Providers	$223.85	+3.89 1.77%	$225.42	3,007,933 81.65% of 50 DAV 50 DAV is 3,684,000	$251.99 -11.17%	10/30/2014	$234.08	PP = $231.51
								MB = $243.09
Most Recent Note - 12/16/2014 2:44:34 PM G - Still sputtering below its 50 DMA line. Previously noted - "Additional damaging losses would trigger more worrisome technical sell signals." >>> FEATURED STOCK ARTICLE : Consolidating Near Prior Highs and Above 50-Day Average - 12/3/2014 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	$48.37	+2.13 4.61%	$48.50	508,703 117.21% of 50 DAV 50 DAV is 434,000	$52.89 -8.55%	10/23/2014	$45.21	PP = $46.09
								MB = $48.39
Most Recent Note - 12/16/2014 5:50:40 PM G - Violated its 50 DMA line with today's volume-driven loss triggering a technical sell signal. Testing prior highs in the $45-46 area defining the next important near-term support to watch. See the latest FSU analysis for more details and new annotated graphs. >>> FEATURED STOCK ARTICLE : Violated 50-Day Moving Average Triggering Technical Sell Signal - 12/16/2014 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
FB - NASDAQ Facebook Inc Cl A INTERNET	$76.11	+1.42 1.90%	$76.41	29,193,198 83.71% of 50 DAV 50 DAV is 34,876,000	$81.16 -6.22%	9/9/2014	$76.67	PP = $76.84
								MB = $80.68
Most Recent Note - 12/16/2014 2:56:03 PM Y - Quietly consolidating near its 50 DMA line ($75.80). Recent lows in the $72 area define the next chart support level above its 200 DMA line. >>> FEATURED STOCK ARTICLE : Gains Above 50-Day Moving Average Needed for Outlook to Improve - 12/4/2014 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	$181.21	+6.03 3.44%	$181.37	1,271,965 102.58% of 50 DAV 50 DAV is 1,240,000	$197.37 -8.19%	10/22/2014	$188.77	PP = $182.27
								MB = $191.38
Most Recent Note - 12/16/2014 6:03:24 PM G - Fell again today on average volume after violating its 50 DMA line with a loss on higher volume on the prior session raising concerns and triggering a technical sell signal. Only a prompt rebound above the 50 DMA line would help its outlook improve. See the latest FSU analysis for more details and annotated graphs. >>> FEATURED STOCK ARTICLE : Violation of 50-Day Average Triggered Technical Sell Signal - 12/15/2014 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	$120.03	+3.39 2.91%	$120.27	995,577 54.64% of 50 DAV 50 DAV is 1,822,000	$123.22 -2.59%	7/30/2014	$84.21	PP = $85.88
								MB = $90.17
Most Recent Note - 12/15/2014 1:45:02 PM G - Quietly consolidating near all-time highs, it has not formed a sound base, and the 50 DMA line ($108.47) defines near-term support to watch. Reported earnings +88% on +50% sales revenues for the Oct '14 quarter. >>> FEATURED STOCK ARTICLE : Under Accumulation But Extended From Sound Base - 12/1/2014 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	$96.57	+1.48 1.56%	$97.00	1,250,425 132.04% of 50 DAV 50 DAV is 947,000	$99.44 -2.89%	12/11/2014	$98.66	PP = $94.60
								MB = $99.33
Most Recent Note - 12/16/2014 6:01:42 PM Y - Stubbornly holding its ground following a gap up gain when highlighted in the 12/11/14 mid-day report (read here). Subsequent losses leading to a close below its old high close ($93.05 on 6/30/14) would completely negate the recent breakout and raise concerns. >>> FEATURED STOCK ARTICLE : Close in Lower Third of Intra-day Range Indicates Disributional Pressure - 12/11/2014 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	$20.78	+0.50 2.47%	$20.80	164,255 68.44% of 50 DAV 50 DAV is 240,000	$22.32 -6.90%	12/5/2014	$20.64	PP = $20.31
								MB = $21.33
Most Recent Note - 12/16/2014 1:34:33 PM Y - Color code is changed to yellow while consolidating above prior highs near $20 defining initial support to watch on pullbacks. Disciplined investors avoid chasing stocks more than +5% above prior highs and always limit losses by selling any stock that falls more than -7% from its purchase price. Keep in mind that deterioration in the broader market (M criteria) has raised a caution flag. >>> FEATURED STOCK ARTICLE : Technical Breakout Indicative of Institutional Demand - 12/5/2014 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