Fed Leaves Rates Unchanged...IWM, QQQ Rise as DIA Pulls Back...Energy, Communication Services Lead Sectors...FB Negative EPS Reaction in After-hours Trading...

 
 
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NDX, SPX, DJI each forming a bull flag pattern on Wednesday.
 
The FOMC announced that rates remain unchanged.

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Earnings season week 3 continues Thursday with 34 cos. including CARR, CMCSA, HSY, MA, MRK, VLO reporting BMO and 21 cos. including AMZN, DLR, DXCM FTNT, KLAC, MHK, SWKS, reporting AMC.
 
Earnings reactions through Wednesday:
Positive (1%+):  PEP, WFC, TFC, UNH, USB, STT, IBM, JBHT, ZION, DOV, HAL, HCA, KEY, SYF, CMG, UAL, CMA, IPG, KO, NDAQ, NTRS, CSX, DGX, DHR, DOW, DPZ, MMC, NUE, UNP, SNAP, CE, RHI, TWTR, AXP, NEE, ROP, SLB, HAS, FFIV, ARE, UHS, PKG, GE, BSX, MSCI, PNR, RTX, DTE, FISV, AMD, GOOGL, ENPH, AVY, BXP, PFE, TDY, BMY, GRMN, BA, HES, TEL,
 
Neutral/Negative:  FRC, JPM, GS, CAG, FAST, BAC, BLK, C, DAL, PNC, PGR, SCHW, PLD, PPG, OMC, TRV, ANTM, BKR, MTB, NFLX, VZ, CCI, DFS, EFX, FTI, GL, KMI, LVS, TXN, AAL, ALLE, ALK, FITB, GPC, LUV, NEM, SNA, T, COF, FE, INTC, SIVB, VRSN, WRB, HON, KMB, RF, LMT, OTIS, PKI, CNC, SWK, UPS, MMM, PHM, IVZ, ADM, IQV, ROK, SHW, WM, GLW, PCAR, ECL, LW, CDNS, TSLA, AMP, AAPL, MSFT, SBUX, V, CB, CHRW, EQR, EXR, IEX, JNPR, MDLZ, MXIM, NLOK, NOV, PFG, SYK, TER, HUM, ADP, CME, GD, MCD, MCO, ODFL, ROL, APH, GNRC, TMO, NSC,
 
AMC Wednesday: FB, PYPL, LRCX, QCOM, ALGN, CTSH, HOLX, PTC, EQIX, AFL, CINF, F, FBHS, IR, DRE, NOW, AVB, HIG MAA, ORLY, RE, RJF, TYL, UDR, URI, XLNX
 
Up from Initial Reaction:  CTAS, MS, BK, ISRG, NVR, KSU, TSCO, PM, JNJ, MKTX, STX, WHR, ABT, AEP, DHI, FCX, POOL,
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DJI -127.59, -0.36%, continued its BO test and closed at 34,930. 
NDX +61.13, +0.41%, closed at 15,018. 
SPX -0.82, -0.02%, closed at 4,400. 
 
SPY = bull flag.
DIA = bull flag.
QQQ = bull flag.
IWM = continued channel bounce.
 
Four of eleven sectors were higher on Wednesday, led by XLE, XLC and XLV.
 
Energy leaders: HES, MRO, VLO, APA
Communication Services leaders: GOOGL, TWTR, TTWO, DISCA
Health Care leaders: MRNA, PFE, DXCM, PKI
 
 
SPY down .18 at 438.83, on 52.3 million shares, below average volume, down on lower volume.  
VIX down 1.05 at 18.31
 
BA, CAT, WBA led the DJIA, 9 advancers, -4
AMD, MRNA, XLNX, ENPH led the SPX, 221 advancers.
PDD, NTES, JD, TCOM led the NDX, 66 advancers. 
 
The two-year trend term is up.  The one-year trend is up.
 
Up: IWM, QQQ,
Down: SPY, DIA,
 
Advancers strengthened on Wednesday as advancers led 2,040 to 1,234 on the NYSE and led 3,212 to 1,181 on the NASDAQ.
 
The SPY MFC green line is pointed up at 94.3 and is bullish.  SPY is BO test / bull flag setup. 
 
 
Uptrend sectors:  XLRE, XLV, XLP, XLK, XLC, XLY,
Neutral sectors:  XLI, XLF, XLU, XLB, XLE,
Down trend sectors:
 
The 6-month intermediate trend is up.  The ten-day trend is up a little.
 
3-month Intermediate Term Market Trend: Up
3-day Short Term Market Trend: Up
 
66 of 100 NDX stocks closed higher on Wednesday.
 
70 NDX stocks are above their 30 DMA:  PAYX, INTU, GOOGL, IDXX, ILMN, SNPS, MRNA, PYPL, EBAY, REGN, DXCM, ADBE, DOCU, LULU, MSFT, TEAM, AMZN, ISRG, ANSS, CDNS, QCOM, SPLK, AAPL, CPRT, MELI, ADSK, CDW, COST, ORLY, SWKS, VRSK, ADP, AMGN, GILD, PEP, SBUX, FAST, CHKP, MDLZ, MNST, CHTR, CTAS, AMD, OKTA, PTON, ALGN, CSCO, EXC, MRVL, HON, ASML, AVGO, CMCSA, FB, FISV, MTCH, AEP, CTSH, EA, VRTX, XEL, AAL, BKNG, MAR, SIRI, AMAT, EA, KLAC, LRCX, NVDA, XLNX,
 
NDX Stocks to Watch on Thursday:
Moving Above 30 DMA = 6
AMAT, EA, KLAC, LRCX, NVDA, XLNX,
 
Moving Below 30 DMA = 2
CERN, CSX,
 
 
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