SPX Opens Higher, Closes Higher after FOMC Presss Conference Rally...Technology, Communication Services, Consumer Discretionary Lead Sectors...

© 2023

The SPX +44.06 opened higher after the ADP payrolls were 113K vs 150K expected, traded in a range before the FOMC announcement, rallied during the FOMC press conference and closed higher.

Breadth was positive on Wednesday.

Wednesday EPS reactions:  GNRC +12.06, +14.35%, AMD +9.54, +9.69%

After-hours: QCOM +4.25, +3.83%, SEDG -14.41, -19.01%, ALB -6.21, -5.05%

Jobs Report Friday, 8:30 am ET, consensus forecast for non-farm payrolls is 183K vs 336K prior.

Thursday day 16 of Q3 earnings season continues with 38 SPX companies BMO: AEP, APTV, BALL, BAX, BR, BWA, CI, CMI, COP, COR, DINO, DUK, EPAM, EXC, FOXA, HWM, ICE, IRM, JCI, LLY, MAR, MRNA, NRG, PARA, PH, PNW, PPL, PWR, REGN, ROK, SBUX, SEE, SO, SPGI, TAP, TFX, TRGP, ZTS reporting BMO and 20 AAPL, AES, BKNG, ED, EOG, EXPE, FRT, FTNT, LNT, LYV, MCHP, MNST, MSI, PODD, PXD, REG, SBAC, SWKS, SYK, VTR.  151 SPX companies report this week.

First day reaction:

Positive:  GNRC, TT, AIZ, GRMN, AMD, MLM, TEL, ETR, KHC, ANET, LDOS, ECL, GEHC, ETN, XYL, ACGL, SPG, INCY, MPC, PEG, GPN, WELL, SYY, BEN, WDC, MCD, DXCM, INTC, AMZN, AMD, META, MELI, MU, AVGO, MRVL, CMCSA, KDP, DDOG, WTW, FTI, AMT, MAS, AOS, EQIX, ORLY, KIM, RJF, IBM, LH, BG, ROL, NOW, IEX, GWW, AMP, BKR, TXT, NEM, EQT, MRK, UHS, LIN, AVB, KDP, CMS, GL, URI, WM, WAB, GD, MSFT, MCO, FFIV, CB, RHI, VZ, RTX, NEE, GE, FI, MMM, NUE, BRO, PCAR, IVZ, PKG, KO, WRK, DOW, DGX, PHM, ARE, NFLX, T, LVS, EFX, UNP, FITB, NDAQ, ABT, PG, STT, BK, BAC, SCHW, PGR, WFC, UNH, JPM, FAST, WBA, = 111

Neutral: NI, YUM, DTE, FSLR, CVS, IQV, CDW, ALLE, AME, PFE, PSA, ZBRA, WEC, L, PSX, LYB, RSG, CBRE, AJG, ESS, PFG, RCL, KLAC, CNP, DTE, VICI, BSX, IP, LUV, V, HLT, APH, TMUS, CME, ROP, HES, ITW, GLW, CSX, SNA, AAL, MMC, KMI, ELV, TRV, LMT, JNJ, C, DPZ = 49

Negative: PAYC, LUMN, EL, MTCH, TRMB, DD, HUM, EQR, NCLH, VRSK, AMCR, CZR, IDXX, OKE, VFC, FMC, CAT, HUBB, TECH, AMGN, PEAK, MSCI, ON, RVTY, ENPH, F, CHTR, BIO, CVX, CPT, UDR, VRSN, TROW, ABBV, AON, RMD, FE, MHK, LHX, XEL, CINF, HIG  XOM, CL, WY, ALGN, WHR, HAS, WST, CMCSA, EW, MO, BMY, LKQ, UPS, MA, KVUE, TSCO, VMC, MAA, INVH, EG, TER, META, HSY, PCG, STX, MOH, CARR, VLO, NOC, VLTO, HON, GOOGL, MKTX, ADP, FTV, TMO, NSC, CSGP, ODFL, TXN TDY, AVY, BA, OTIS, PNR, HCA, SYF, ADM, DHR, HAL, GM, NVR, CNC, SHW, DOV, KMB, CDNS, RF, CMA, AXP, HBAN, IPG, SLB, ISRG, GPC, ZION, TSLA, DFS, BX, LRCX, CCI, STLD, POOL, PPG, PM, TFC, ALK, KEY, FCX, UAL, JBHT, MS, NTRS, CFG, USB, MTB, OMC, GS, PLD, BLK, PNC, DAL = 134

Mega caps NVDA, META, AMZN, TSLA, MSFT, GOOGL, APPL rose on Wednesday.

SPY up 4.46 at 422.66 on 98.0 million shares, above average volume, closed higher on higher volume. 

VIX down 1.27 at 16.87

QQQ up 6.09 at 356.96

CAT, MSFT, INTC, AMGN led the DJIA, 19 advancers, -6

GNRC, TT, AIZ, GRMN led the SPX, 309 advancers

AMD, DXCM, SIRI, MELI, NVDA led the NDX, 76 advancers.

The two-year trend term is down a little.  The one-year trend is up.

Up:  QQQ, SPY, DIA, IWM,

Down: 

Nine of eleven sectors were higher on Wednesday, led by XLK, XLC and XLY.

The SPY MFC green line is pointed up at 17.5 and is short-term bullish.  SPY opened higher and closed higher. 

Uptrend sectors:   XLE, XLC, XLK,

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

Down trend sectors:  XLU, XLRE, XLP,

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

3-month Intermediate Term Market Trend: Down

3-day Short Term Market Trend: Up

76 of 100 NDX stocks closed higher on Wednesday.

41 NDX stocks are above their 30 DMA:  FAST, MSFT, FANG, GILD, LULU, NFLX, XEL, DLTR, ORLY, INTC, AEP, AMZN, CEG, CRWD, CTAS, ROST, TMUS, ADBE, ASML, CDNS, DXCM, GEHC, KDP, KLAC, MDLZ, MELI, SNPS, VRTX, AMD, AVGO, EXC, HON, META, MNST, MU, PANW, PDD, PEP, QCOM, SGEN, SIRI,

NDX Stocks to Watch on Thursday:

Moving Above 30 DMA = 13

AMD, AVGO, EXC, HON, META, MNST, MU, PANW, PDD, PEP, QCOM, SGEN, SIRI,

Moving Below 30 DMA = 0

Add Comments here: