Wednesday, March 20, 2019

FOMC Delivers Volatility Again...QQQ Up, SPY Down...MU Gains on EPS...



© 2019



The DJIA, closed down 141 points at 25,745led by weakness in GS, UNH, JPM, AXP and TRV. 

Five of eleven sectors were higher on Wednesday, led by communication services XLC +0.90% and energy XLE +0.88%.

SPY down .85 at 281.55 on 84.6 million shares, 12% above average volume. Down on lower volume.
VIX up .35 at 13.91
Oil up .70 at 59.99
TLT up 1.27 at 122.68 on 10.1 million shares. 

HD +1.07%, MCD +1.02%, led the DJIA, 7 advancers, -8
SWN +5.05%, PXD +4.51% and TWTR +4.16%, led the SPX.
NFLX +4.58%, MELI +3.23%, ALGN +2.46%, and FB +2.40%, led the NDX.

Long term up trend intact.  3-day short term trend is sideways.

Up: QQQ,
Down: SPY, DIA, IWM,


Breadth weakened on Wednesday, as decliners led 1,601 to 1,267 on the NYSE and led 1,853 to 1,193 on the NASDAQ

The SPY MFC green line is in the upper zone, at 91 and is short-term bullish.

Uptrend sectorsXLRE, XLU, XLC, XLK, XLI, XLB, XLY,
Neutral sectors:  XLV, XLP, XLF, XLE,
Down trend sectors:

The 6-month intermediate trend is down.  The ten-day trend is up.

3-month Intermediate Term Market Trend: Up
3-day Short Term Market TrendSideways


30 of 100 NDX stocks closed higher on Wednesday.

68 NDX stocks are above their 30 DMA:  CDNS, CTRP, PYPL, TMUS, XLNX, CTAS, MELI, ULTA, VRSN, INTU, ADI, KLAC, SNPS, MDLZ, PAYX, WLTW, CSX, ALXN, GOOGL, VRSK, ADP, CHKP, CSCO, FOXA, CMCSA, JD, AAPL, PEP, CHTR, INTC, MSFT, COST, QCOM, XRAY, DLTR, ILMN, ISRG, AMZN, CERN, INCY, NFLX, NVDA, SIRI, SYMC, TXN, ASML, FAST, NTAP, SBUX, AMGN, ATVI, IDXX, LBTYA, NTES, TTWO, LRCX, ALGN, AMAT, AVGO, BIDU, MAR, ORLY, ADBE, AMD, CELG, EBAY, HSIC, WDAY,

NDX Stocks to Watch on Thursday:
Moving Above 30 DMA = 0
 
Moving Below 30 DMA = 5
BIIB, GILD, NXPI, PCAR, SWKS,

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