SPX Range Day 2, FOMC Announcement at 2 pm EST on Wednesday...

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After rising 30 points on Friday the SPX traded in a tight 13 and 16-point range on Monday and Tuesday.  The SPX is down 13 points from Fridays close.  The FOMC started its 2-day meeting today with its rate announcement Wednesday at 2 pm EST.  The FOMC is expected to leave rates unchanged.  

BMY made a new high and BX, BBY, BABA, C, AAPL, SMH, AXP, LRCX, JWN, IWM and HSY are horizontal breakout setups.

Four of eleven sectors were higher on Tuesday, led by XLV, XLE and XLK.

SPY down .35 at 313.53 on 53.1 million shares, slightly above average volume.  Down on higher volume.

VIX down .18 at 15.68

TLT up .01 at 138.66 on 4.9 million shares

UNH, AAPL, CVX led the DJIA, 15 advancers,

AZO, AAP, LB led the SPX, 211 advancers

NLOK, ATVI, EXPE, LBTYA led the NDX, 46 advancers

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

Up: IWM,

Down: QQQ, DIA, SPY,                                   

Breadth strengthened on Tuesday as advancers led 1,500 to 1,450 on the NYSE and led 1,611 to 1,1528 on the NASDAQ

The SPX MFC green line is above 80 and pointed up at 85 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

46 of 100 NDX stocks closed higher on Tuesday.

65 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, PAYX, MELI, CERN, ILMN, GILD, ROST, SBUX, HAS, MDLZ, MYL, PEP, VRSK, KHC, GOOGL, ADI, ASML, MCHP, NTAP, NXPI, TXN, XEL, ATVI, BIIB, JD, ALXN, NVDA, TSLA, ULTA, VRSN, KHC, EXPE, MU, ORLY, TTWO,

NDX Stocks to Watch on Wednesday:

Moving Above 30 DMA = 4

EXPE, MU, ORLY, TTWO,

Moving Below 30 DMA = 3

BIDU, EXC, NFLX,

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