Fed Leaves Rates Unchanged...SPX Gains 9 points...

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After pausing and pulling back over the past two days, the SPX traded in a tight range until the FOMC rate announcement at 2 pm EST, in which the Fed, as expected, left rates unchanged.  The SPX then rose to close up 9.11 points and is now just 4 points below last Friday’s close. 

BMY made another new high and BX, BBY, BABA, SMH, LRCX, and HSY broke out on Wednesday while C, AAPL, AXP, JWN and IWM are still horizontal breakout setups.

Eight of eleven sectors were higher on Wednesday, led by XLB, XLK and XLI.

SPY up .89 at 314.42 on 53.5 million shares, slightly above average volume.  Up on higher volume.

VIX down .69 at 14.99

TLT up 1.09 at 139.75 on 6.2 million shares

UTX, DIS, AAPL led the DJIA, 14 advancers, -1

FCX, QRVO, QCOM led the SPX, 300 advancers

SWKS, AMAT, MU, WDC led the NDX, 68 advancers

Long term up trend intact.  3-day short term trend is up.

Up: QQQ, SPY, DIA,

Down: IWM,                                                       

Breadth strengthened on Wednesday as advancers led 1,869 to 1,053 on the NYSE and led 1,783 to 1,361 on the NASDAQ

The SPX MFC green line is above 80 and pointed up at 87 and is short-term bullish. 

Uptrend sectors:  XLK, XLV, XLC, XLP, XLF, XLI, XLB,

Neutral sectors:  XLY, XLE, XLU, XLRE,

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: Up

68 of 100 NDX stocks closed higher on Wednesday.

73 NDX stocks are above their 30 DMA:  AAPL, ALGN, SWKS, ISRG, AMGN, REGN, FAST, NTES, PCAR, SIRI, AMD, INCY, VRTX, ISRG, WBA, FOXA, FB, MAR, AVGO, BMRN, MSFT, HSIC, ADBE, ADSK, EA, FISV, LULU, ADP, MNST, WLTW, MELI, CERN, ILMN, GILD, ROST, SBUX, HAS, MDLZ, MYL, PEP, VRSK, KHC, GOOGL, ADI, ASML, MCHP, NTAP, NXPI, TXN, XEL, ATVI, JD, NVDA, TSLA, ULTA, VRSN, KHC, EXPE, MU, ORLY, TTWO, AMAT, BIDU, BKNG, CSX, FAST, LRCX, MXIM, PYPL, QCOM, WDC, XLNX,

NDX Stocks to Watch on Thursday:

Moving Above 30 DMA = 11

AMAT, BIDU, BKNG, CSX, FAST, LRCX, MXIM, PYPL, QCOM, WDC, XLNX,

Moving Below 30 DMA = 3

ALXN, BIIB, PAYX,

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