Stocks Sink after FOMC Minutes Released...LOW +9.59% on Earnings...Consumer Discretionary Leads Sectors...

 
 
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SPY, DIA, QQQ opened slightly lower after futures moved lower overnight and July Housing Starts came in below expectations.  The Indexes traded in a range until the Fed minutes were released at 2 pm ET, initially with a positive reaction and then shifted to a sideways channel.  During the final hour the indexes broke support and closed lower on continued selling.
 
LOW +17.47, +9.59%, rises on a positive reaction to its earnings beat.
 
 

SPY down 4.86 at 439.18, on 89.3 million shares, above average volume, down on similar volume.  
VIX up 3.66 at 21.57
QQQ down 3.52, -0.96% at 362.21
 
 
CRM, HD led the DJIA, 2 advancers, -5
LOW, TJX, VIAC, HWM led the SPX, 51 advancers.
TCOM, TSLA, ROST, MTCH led the NDX, 18 advancers. 
 
The two-year trend term is up.  The one-year trend is up.
 
Up:
Down: IWM, QQQ, DIA, SPY,
 
SPY = bull flag setup
DIA = bull flag setup
QQQ = 8-day bull flag setup
IWM = Mid-channel pullback.
 
One of eleven sectors was higher on Wednesday, led by XLY.
 
Consumer Discretionary leaders: LOW, TJX, TSLA, ROST
 
 
Advancers strengthened on Wednesday as decliners led 2,370 to 901 on the NYSE and led 2,693 to 1,715 on the NASDAQ.
 
The SPY MFC green line turned down at 91 and is counter-trend defensive.  SPY is a bull flag setup. 
 
 
Uptrend sectors:  XLV, XLF, XLU, XLP, XLRE, XLK, XLC, XLY,
Neutral sectors:  XLI, XLB, XLE,
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: Down
 
18 of 100 NDX stocks closed higher on Wednesday.
 
47 NDX stocks are above their 30 DMA:  PAYX, INTU, GOOGL, ILMN, SNPS, MRNA, REGN, DXCM, ADBE, MSFT, TEAM, ISRG, CDNS, QCOM, SPLK, MELI, ADSK, CDW, COST, VRSK, PEP, AMD, ALGN, CSCO, EXC, ASML, CMCSA, AEP, CTSH, XEL, XLNX, CHTR, SGEN, MCHP, CSX, FOXA, FISV, MNST, DLTR, GILD, WBA, BIIB, CERN, EBAY, MXIM, ROST, TSLA,
 
 
NDX Stocks to Watch on Thursday:
Moving Above 30 DMA = 2
ROST, TSLA,
 
Moving Below 30 DMA = 9
AAPL, ADP, CTAS, FAST, FB, HON, IDXX, MDLZ, NXPI,
 
 
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