FOMC No Change in Interest Rates...Stocks Soar...Volatility Drops...ADBE, FDX Gap Up...

All ten sectors moved higher on Wednesday …XLE, XLU and XLB were the strongest sectors while XLP was the weakest sector.  Oil futures rose 1.19 to close at 45.62.

Breadth strengthened as advancers led 2,630 to 420 on the NYSE and led 2,030 to 773 on the NASDAQ.

Wednesday – strengthened, advancers led, +10

Tuesday – weakened, decliners led, +5

Monday – strengthened, advancers led, +5

Friday – weakened, decliners led, +2

Thursday – strengthened, advancers led, +9

SPY up 2.40 at 215.82 on 110.2 million shares, 31% above average volume

VIX down 2.62 at 13.30

TLT up 1.09 at 135.87…on 10.6 million shares, 47% above average volume

Technical Commentary:

IWM +1.45%, SPY +1.12%, QQQ +0. 98%, DIA +0.89%,

FOMC announced NO Change interest rates today at 2pm ET.

The SPX rose 10 points in the first hour before falling back to Tuesday’s close around 12:30 pm ET.  Once the FOMC announcement of no change took place the SPX took off to close up 23 points on the day breaking above the short-term resistance of the past six trading days.

Leading NDX stocks on Wednesday included ADBE, BIDU, MU, ADSK, CHTR, STX, YHOO, WDC, TMUS, CTRP, NVDA, ULTA, NTES, FISV, CSX and NTAP.

ADBE +7.16, +7.12% positive eps reaction.

FDX +11.21, +6.89% positive eps reaction.

XLF is shedding its real estate stocks in the form of a special dividend on Monday that is being paid in shares of XLRE stock, .14 share for each one share of XLF.  Real estate stocks have been raised to sector status in GICS.

Consider moving up stops on short term bullish trades that could pull back.  All according to your profit protection rules.

Remember breakouts typically test about 70% of the time.

Technical analysis based trades should be closed before earnings. After-hours

Trade what you see, not…

Stocks below support should generally be traded bearishly until a reversal pattern forms.

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Strong Stocks: Setups and Moves You Can Use

Bull Flag Setups include: AAPL, EBAY, INTC, JD, PYPL, SYMC, ETFC, GT, LVS, VLO, UAL, CHK, HRS, WBA MSI, URBN, ZION, BAC, GS, RL,

Bull Flag Bounces include: CHTR, MU, STX, SWKS, AKAM, BABA, WMB, SE, APA

Horizontal Breakout Setups include: IWM, RCL, ADI, AMAT, ATVI, EA, FB, GILD, NTAP, QCOM, TXN, WDC, AMZN, YHOO, V, KSS, CAVM, BURL, FL, MPC, MS, SINA, WRK, SCHW, DVA, X, JPM, CHTR, MU, STX, SWKS, WMB, SE, STT, REGN, CTRP, ULTA

Horizontal Breakout include: QQQ, IWM, BABA, APA, ADSK, CMCSA, CSX, ISRG, NVDA, PCLN, ROST, WDC, BIDU, MA, FOSL,

New Highs include: LMCA, ATVI, NTES, LITE, ATVI, SWKS, PCLN,

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Trade with the trend of the chart you are trading and continue to move your profit protection stops.  Continue to follow your rules.

The SPY MFC green line is pointed up at 38, bullish.  SPY held above short-term support.

89 of 100 NDX stocks closed higher and one was unchanged on Wednesday.

52 NDX stocks are above their 30 DMA.

NDX Stocks to Watch on Thursday:

Moving Above 30 DMA = 15

ADBE, ADI, ADP, BIIB, CELG, CSCO, EBAY, GOOG, HSIC, LLTC, LRCX, MSFT, SIRI, TXN, XLNX

Moving Below 30 DMA = 1

NFLX  

6-month Intermediate Term Market Trend: Up

3-day Short Term Market Trend: Up