Markets rebounded Thursday following a dismal session Wednesday. If one wanted to paint a negative picture one could point to the absence of volume. The averages have become accustomed to quick snap backs and I prefer to wait for the dust to settle. A good sign was the Nasdaq reasserting itself as a leader higher by .7% today and for the week headed into Friday is lower by 1% and currently is recording a spinning top candle which has been known to predict reversals, but once again they have been much better at forecasting bottoms then tops. To its credit it did bounce off the round 6000 number and its uptrend is still firmly intact. The S&P 500 rose .4% and CLOSED right at its 50 day SMA and for the week thus far has dropped .9%. Looking at individual sectors Thursday it was the technology, cyclical, healthcare and the financials that shined. Perhaps one would do themselves well this weekend by scouring over charts and see which names actually held up well this week in light of the heavy stress inflicted upon the markets this Wednesday. One name that relinquished just 20 cents Wednesday and is on pace for a TENTH consecutive weekly gain (all of the prior nine weeks CLOSED in the upper half of the weekly range), higher by 2% heading into Friday, is FIVE. Below is how we profiled the chart in our Monday 5/8 Game Plan. Keep in mind this is a retail play as well whose group has been battered around, making its strength even more significant. It is now right just pennies below a 52.80 weekly cup base trigger.

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