FOMC Rates Unchanged, SPX Closes Lower for Second Day...Futures Lower in Evening Trade...

 
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The SPX pulled back in the morning and become more volatile to the downside after the FOMC announced rates were unchanged and during its press conference. 
 
The NDX pulled back for a second day and is a re-breakout setup.
 
Semiconductor stocks, SMH pulled back for a second day on a short-term breakout test. 
 
DJI -265.66, -0.77%, closed at 34,033.  BA, MMM, HD and HON were the largest point decliners on Wednesday.
NDX -47.39, -0.34%, closed at 13,983.
SPX -22.89, -0.54%, closed at 4,223.
 
TSLA +0.92%, channel support bounce.
 
SPY = BO test, re-BO setup.
DIA = Pullback continuation.
QQQ = Bull flag setup.
IWM = Bull flag setup.
 
One of eleven sectors was higher on Wednesday, led by XLY, XLF and XLV.
 
Consumer Discretionary leaders: NCLH, CCL, LB, RCL
Financial leaders: SIVB, CMA, SCHW, STT
Health Care leaders: CNC, COO, MRK, HUM
 
SPY down 2.37 at 422.11, on 80.2 million shares, above average volume, down on higher volume. 
VIX up 1.13 at 18.15
 
MRK, JPM, AAPL, NKE led the DJIA, 4 advancers, -5
ENPH, OXY, CNC, SIVB led the SPX, 100 advancers.
SPLK, MELI, TEAM, DOCU led the NDX, 22 advancers. 
 
The two-year trend term is up.  The one-year trend is up.
 
Up:
Down: IWM, QQQ, SPY, DIA,
 
Advancers were mixed on Wednesday as decliners led 1,926 to 1,265 on the NYSE and led 2,365 to 1,926 on the NASDAQ.
 
The SPY MFC green line turned down at 94.5 and is counter-trend defensive.  SPY pulled back for a second day after an all-time closing high on Monday. 
 
 
Uptrend sectors:  XLRE, XLC, XLE, XLV, XLK, XLF, XLI, XLP, XLB, XLU,
Neutral sectors:  XLY,
Down trend sectors:
 
The 6-month intermediate trend is up.  The ten-day trend is up.
 
3-month Intermediate Term Market Trend: Up
3-day Short Term Market Trend: Down a little
 
22 of 100 NDX stocks closed higher on Wednesday.
 
 
67 NDX stocks are above their 30 DMA:  CERN, ALXN, TMUS, SGEN, CSCO, PAYX, INTU, WDC, FB, MXIM, ADI, ADP, GOOGL, IDXX, ILMN, MRVL, ZM, NVDA, PTON, AMAT, ASML, AVGO, EA, LRCX, MCHP, SNPS, TXN, MRNA, PYPL, SIRI, AMD, EBAY, EXC, REGN, XLNX, DXCM, ADBE, BIIB, CHKP, DOCU, INTC, KLAC, LULU, MSFT, TEAM, ALGN, MAR, AMZN, FOXA, ISRG, ANSS, CDNS, CMCSA, NXPI, PEP, QCOM, SPLK, AAPL, CPRT, CTAS, MELI, SWKS, BKNG, CDW, MTCH, WDAY, INCY,

 
NDX Stocks to Watch on Thursday:
Moving Above 30 DMA = 1
INCY,
 
Moving Below 30 DMA = 7
ATVI, CHTR, COST, GILD, MDLZ, MU, VRSN,
 
 
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