Stocks Pullback After Fed Raises Rates...

© 2018

ADP, ALGN, AMZN, CA, CTAS, EA, FOXA, IDXX, PAYX, and SIRI made new highs.

IWM and QQQ are horizontal breakout setups.

The DJIA, closed down 119 points at 25,201, above 25,000 for the sixth straight day, led by weakness in BA, CAT, AAPL, VZ, DWDP and HD.

The Fed raised rates .25%, as expected, and indicated that rates could rise two more times in 2018, once more than previously guidance.  Stocks sold off in the last hour of trading.

Two sectors were higher on Wednesday, led by discretionary XLY +0.15% and healthcare XLV +0.02%.

SPY down .89 at 278.03 on 78.8 million shares, 11% above average volume. Down on higher volume.

VIX up .60 at 12.94

Oil up .58 to 66.62

TLT down .06 at 119.28 on 8.8 million shares.

DIS +1.90%, GS +0.52%, led the DJIA, 7 advancers.

AET +3.73%, CBS +3.59% and CVS +3.10%, led the SPX.

FOXA +7.70%, NFLX +4.43%, ESRX +3.28%, and TTWO +3.28%, led the NDX.

Intermediate and long term up trend intact.  3-day short term trend is sideways.

Up:

Down: QQQ, SPY, IWM, DIA,

Breadth weakened on Wednesday, as decliners led 1,932 to 965 on the NYSE and led 1,606 to 1,244 on the NASDAQ

The SPY MFC green line is in the upper zone and is at 96, bullish. 

Uptrend sectors:  XLY, XLK, XLRE, XLE,

Neutral sectors: XLF, XLV, XLI, XLB, XLU

Down trend sectors: XLP

Intermediate-term trending stocks: 

RACE, ADBE, IBKR, ETFC, MA, V, ISRG, WIX, NDAQ, WYNN, VRSN, TAL, COP, CRM, NTAP, RNG, AA, WUBA, FCAU, NVDA, SQ, ALGN, AKAM, SHOP, EL

BA, MU, MAR, CMA, CME, ANET, HRS, KORS,

DLTR, WB, TPR,

36 of 100 NDX stocks closed higher on Wednesday.

75 NDX stocks are above their 30 DMA.  

NDX Stocks to Watch on Thursday:

Moving Above 30 DMA = 0

Moving Below 30 DMA = 6

AAL, BKNG, BMRN, CTXS, LBTYA, PCAR,

The 6-month intermediate and long-term trends are still up.  The three-month trend is sideways.  The ten-day trend is up.

3-month Intermediate Term Market Trend: Sideways

3-day Short Term Market Trend: Sideways

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