SPX Bull Flag Bounce, NDX Channel Bounce, FOMC

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NDX +130.48, +1.24% and SPX +40.00, +1.24%.  NDX gave a channel bounce trigger.  SPX gapped up, opened higher and closed higher.  SPX bounce gave a second chance trigger on a bull flag bounce.  The bounce momentum accelerated after the FOMC announced no change in interest rates at 2 pm ET.

AMD +8.48, +12.54% rose on a positive EPS reaction.   

LRCX, QCOM, PYPL, NOW and URI reported after the close.

CARR, CMCSA, UPS, LLY and 36 other SP500 stocks report before the open on Thursday.

All eleven sectors were higher on Wednesday, led by XLE, XLRE and XLF.

Energy leaders:  HFC, OKE, VLO, DVN

Real Estate leaders:  HST, DRE, VTR, WY

Financials leaders:  CMA, LNC, AIG, CFG

SPY up 3.95 at 325.12 on 48.4 million shares, below average volume, up on lower volume.

VIX down 1.34 at 24.10

JPM, AXP, UNH led the DJIA, 19 advancers, +10

LH, CHRW, GPS, WU led the SPX, 422 advancers

AMD, DOCU, PYPL, MELI led the NDX, 81 advancers

The two-year trend term is up.  The one-year trend is up.

Up: IWM, SPY, QQQ, DIA

Down:

Breadth strengthened on Wednesday as advancers led 2,410 to 592 on the NYSE and led 2,293 to 1,093 on the NASDAQ

The SPX MFC green line is pointed down at 84.9 and is counter-trend defensive.  Price action is bull flag bounce trigger.

Uptrend sectors:  XLP, XLB, XLY, XLV, XLK, XLC, XLI,

Neutral sectors:  XLU, XLRE, XLF, XLE,

Down trend sectors:

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

3-month Intermediate Term Market Trend: Up

3-day Short Term Market Trend: Up

81 of 100 NDX stock closed higher on Wednesday.

70 NDX stocks are above their 30 DMA:  AMZN, CDNS, IDXX, NVDA, SWKS, AAPL, FAST, MELI, PYPL, SPLK, ALGN, TSLA, NTES, MXIM, TXN, LRCX, EA, TTWO, ATVI, ILMN, ANSS, AMGN, DOCU, DXCM, PEP, VRSK, XLNX, CHKP, COST, GOOGL, MNST, CHTR, BKNG, CMCSA, CTSH, KHC, PCAR, DLTR, AMD, CTAS, ISRG, LULU, ORLY, XEL, CERN, CPRT, CSX, EXC, TCOM, CSCO, MRNA, FISV, SIRI, VRSN, AMAT, BIIB, INTU, LBTYA, QCOM. REGN, SNPS, ADSK, CDW, EXPE, JD, MU, NXPI, ROST, SBUX, ULTA,

NDX Stocks to Watch on Thursday:

Moving Above 30 DMA = 9

ADSK, CDW, EXPE, JD, MU, NXPI, ROST, SBUX, ULTA,

Moving Below 30 DMA = 4

ASML, EBAY, NFLX, SGEN,  

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