Fed Raises Rates as Expected...Rally Fails as SPX Closes Down 9 Points...

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The DJIA, closed down 106 points at 26,385, led by weakness in GS, BA, AXP, TRV and AAPL.  This is the fifty-third consecutive close above 25,000 since June 15 and the tenth close above 26,000 since Feb 1.

Four of eleven sectors were higher, led by the new communications XLC +0.39% and discretionary XLY +0.23%.

SPY down .87 at 289.88, on 79.7 million shares, 26% above average volume. Down on higher volume.

VIX up .47 at 12.89 

Oil down .04 at 72.04

TLT up .82 at 117.50 on 9.5 million shares. 

IBM +1.81%, DIS +1.39%, led the DJIA, 8 advancers, -3

FL +5.13%, FOSL +3.98% and SCG +3.91%, led the SPX.

ALXN +5.13%, MELI +3.48%, TSLA +2.85%, and NTES +2.82%, led the NDX.


Intermediate and long term up trend intact.  3-day short term trend is down.

Up: QQQ,

Down: SPY, DIA, IWM

Breadth weakened on Wednesday, as decliners led 1,810 to 1,056 on the NYSE and led 1,910 to 1,070 on the NASDAQ

The SPY MFC green line is pointed up in the upper zone at 86 bullish. 

Uptrend sectors:  XLU, XLV, XLP, XLY, XLK, XLRE, XLI,

Neutral sectors: XLF, XLE, XLB, XLC,

Down trend sectors:

The 6-month intermediate and long-term trends are still up.  The three-month trend is up.  The ten-day trend is up.

3-month Intermediate Term Market Trend: Up

3-day Short Term Market Trend: Down

52 of 100 NDX stocks closed higher on Wednesday.

55 NDX stocks are above their 30 DMA.  COST, AMGN, ISRG, CHKP, CA, ORLY, QCOM, ROST, XLNX, SBUX, ILMN, VRSK, CSCO, PAYX, ADP, TTWO, ESRX, ADSK, ADBE,  INTU, ALGN, CHTR, SYMC, AVGO, ULTA, MAR, HAS, HSIC, WBA, ATVI, NFLX, AAL, MDLZ, MSFT, TMUS, LBTYA, SHPG, QRTEA, HOLX, ALXN, BKNG, CTSH, EXPE, PYPL, BIDU, FISV, GILD, NTES, REGN, VRTX, AAPL, FOXA, AMZN, BIIB, TSLA,

NDX Stocks to Watch on Thursday:

Moving Above 30 DMA = 2

BIIB, TSLA,

Moving Below 30 DMA = 3

PCAR, SWKS, VOD,

Intermediate-term trending stocks: 

ADBE, COST, DG, AAPL, AMZN, MA, V, AET, ISRG, PAYX, VRSN, COP, CRM, NTAP, RNG, SQ, UNH, NVDA, ALGN, CHGG, GRUB, TWLO, W, CDNS, PAYC, FISV, NDAQ, LPSN, PSTG, ZUMZ, WIX, SHAK, ETFC, EL, CME, KORS, A, WUBA,

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