SPX, Euro, Financials Higher, Fed Stays Course, QCOM Gaps Up After-hours...

 All nine sectors moved higher on Wednesday. XLE +3.01%, XLF +2.95% and XLB +2.48% were the strongest sectors.

The Euro was up 50 pips to 1.3744 at 5 pm EDT on Wednesday.  TNX closed up +0.05 at 20.06.  TLT was down -1.49.  Financials XLF was up 38 cents.

The broad indexes moved higher with the RUT +2.71%, SPX +1.61%, INDU +1.53%, COMPQ +1.27%, and NDX +0.87 %.  The SPX moved up +19.62 to close at 1,237.90.  The RUT formed a bullish engulfing while the SPX and INDU formed a bullish harami.

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The SPY and many individual stocks closed above the high of the low day creating an exit for short-term bearish trades and an entry for support bounce bullish trades.  Many of the hammers, doji, bullish harami and other bullish candle patterns that we observed Tuesday evening confirmed on Wednesday.

The Fed announced they are staying on their current course of a low interest rate accommodative policy.  Stocks moved higher following the announcement.

The adjusted HON paper-trade order filled on Wednesday and the call option finished up 5 cents. E = 52.28, S = 50.16, T2 = 56.25

Our X paper-trade order also filled with the NOV 26 call option closing up 24 cents.  We also sold weekly puts at 45 cents which dropped almost 30 cents with very nice results for the day. E = 25.39, S = 23.14, T2 = 31.80

Flag Setups for Thursday paper-trade:

MOS E = 57.59, S = 53.89, T1 = 62.65

HAL E = 36.68, S = 33.67, T1 = 39.62

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AAPL, AMZN, BIDU, GOOG, PCLN and QCOM moved higher on Wednesday.  After the close QCOM +4.97, 9.52% gaps up after reporting earnings.  WFM -3.06, -4.34% gaps down after reporting earning.

The VIX moved down -2.03 to 32.74. 

Breadth strengthened as advancers led decliners 6.41 to 1 on the NYSE and 3.47 to 1 on the NASDAQ.

Exchange       NYSE        NASDAQ

Advancers       2,542           1,958

Decliners           396              563          

Leading stocks > +2% on Wednesday JDSU, FAS, ENTR, CF, RVBD, PCX, UCO, GES, BAC, URE, TBT, X, ANR, TSL, CIEN, STI, SLW, SWK, AKS, C, RCL, HUM, CRUS, POT, ZION, CREE, DOW, V, LVS, TPX, GS, NGLS, KKD, SOHU, SINA, A, HAL, ATI, SWN, DHR, FFIV, CDE, MOS

Losing stocks < -2.0% included FWLT, FAZ, ESI

NDX 100 stocks stronger than the NDX included NIHD, ERTS, GRMN, AKAM, NFLX, BIDU, QCOM, FFIV, CTRP and CHKP.

Stocks weaker than the NDX include SIRI, QGEN, VRTX, XLNX, RIMM, NVDA, ALTR, CTSH, AMGN and APOL.

Eight NDX stocks including AAPL, DELL, ERTS, EXPE, PCLN, QCOM and WYNN moved above their 30 DMA making 73 NDX stocks above the 30 DMA. 

Stocks to Watch on Thursday

Holding Above 30 DMA = 67

IBM, ARUN, DECK, FFIV, SNDK, F, NKE, ANF, COH, ENTR, UNP, DHR, DOW, SMH, SWK, TIF, TPX, VMW, C, JNPR, NGLS, RCL, ZAGG, CAT, DLR,  HLF, LNKD, SWN, NTES, WLT, RVBD, SLB, UCO, AKS, FAS, GLW, GS, ZION, A, BAC, CIEN, URE, ATI, CF, CMG, DE, FCX, FWLT, GES, HUM, ANR, HAL, PCX, STI, CDE, CLF, CRUS, MCP, SLW, SOHU, TSL, CRM, JDSU, LDK, LVS, X, TLT

Moving Above 30 DMA = 7

CHL, IL, INFA, MOS, NDAQ, V, WDC

Moving Below 30 DMA = 0

Staying Below 30 DMA

CSTR, ICE, KKD, NVDA, CREE, ESI, POT, SINA, TBT, VECO, SWKS, UAL, CROX, FAZ, GMCR

Four Week Intermediate Term Market Trend: Up

Short Term Market Trend: Neutral