RUT, NDX, SPX, DJI Close at New Highs after FOMC Announcement...Breadth Strengthens as Discretionary Leads Sectors...

 
 
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QQQ, DIA, SPY opened flat and traded in a range until the FOMC announcement at which point the rose sharply and closed at all-time highs again.
IWM, +4.19, +1.79%, open flat and begin to rise after the open and closed above its nine-month trading range at a new all-time closing high.
 
 
Monday: SPX, DJIA, NDX new all-time closing high
Tuesday: SPX, DJIA, NDX, RUT new all-time closing high, RUT HBO 9-month channel
Wednesday: SPX, DJIA, NDX, RUT new all-time closing high,
****FOMC announced, as expected, its bond buying tapering process will begin later this month.
Friday BMO: October Employment Situation report, consensus 400K
 
 
SPX closed at 4,660, and NDX closed at 16,144.
 
SPY up 2.82 at 464.72, on 47.6 million shares, below average volume, up on similar volume.  
VIX down .93 at 15.10
QQQ up 4.13, +1.06% at 393.18
 
 
WBA, NKE, AMGN, UNH led the DJIA, 22 advancers, +4
FMC, CNC, WY, CVS led the SPX, 337 advancers.
TMUS, INCY, NXPI, VRTX led the NDX, 79 advancers. 
 
The two-year trend term is up.  The one-year trend is up.
 
Up: IWM, QQQ, SPY, DIA,
Down:
 
SPY = all-time closing high
DIA = all-time closing high
QQQ = all-time closing high
IWM = all-time closing high
 
Eight of eleven sectors were higher on Wednesday, led by XLY, XLB and XLP.
 
Consumer Discretionary leaders: TPR, GPS, PVH, RL
Basic Materials leaders: FMC, MOS, CTVA, DD
Consumer Staples leaders: KR, WBA, CPB, TAP
 
Advancers weakened on Wednesday as advancers led 2,227 to 1,108 on the NYSE and led 3,157 to 1,469 on the NASDAQ.
 
The SPY MFC green line is pointed up at 98.9 and is bullish.  SPY is a new all-time closing high. 
 
 
Uptrend sectors:  XLY, XLK, XLRE, XLB, XLI, XLE, XLF, XLV, XLP,
Neutral sectors:  XLC, XLU,
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
 
79 of 100 NDX stocks closed higher on Wednesday.
 
79 NDX stocks are above their 30 DMA:  NFLX, TSLA, MAR, SGEN, DLTR, PAYX, ADP, CSX, TEAM, CTAS, MRVL, NTES, PEP, VRSK, XLNX, JD, SPLK, AMD, CRWD, MSFT, WDAY, ADSK, ANSS, AVGO, CPRT, CTSH, EXC, NVDA, AAPL, ADBE, COST, DOCU, INTU, LULU, ZM, CDNS, DXCM, QCOM, AEP, EA, ISRG, MDLZ, SNPS, CSCO, GOOGL, REGN, ASML, SWKS, ADI, AMAT, CDW, HON, ILMN, KDP, KLAC, NXPI, PTON, ROST, SIRI, CERN, EBAY, OKTA, VRSN, ALGN, AMGN, KHC, LRCX, MCHP, MU, FOXA, AMZN, BIDU, BIIB, INCY, SBUX, TMUS, VRTX, WBA,
 
NDX Stocks to Watch on Thursday:
Moving Above 30 DMA = 8
AMZN, BIDU, BIIB, INCY, SBUX, TMUS, VRTX, WBA,
 
 
Moving Below 30 DMA = 3
ATVI, BKNG, XEL,
 
 
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