© 2021
SPX, DJI, NDX and RUT traded in a range until the FOMC announcement at 2
pm ET. Once market knew the Feds
tapering plan and the expectation of 3 rate hikes in 2022, stocks rallied on above
average volume. The SPX closed at
4,709 +75.76, and the NDX closed at 16,289, +374.70.
Retail sales were lower than expected 0.3% vs 0.8% MoM consensus.
SPX changes:
Dec 14 EPAM replaced KSU
Dec 20 SBNY, SEDG, FDS will replace LEG, HBI, WU
NDX changes:
Dec 20 ABNB, FTNT, PANW, ZS, DDOG, LCID will replace CDW, CERN, CHKP, FOXA, FOX, INCY, TCOM
SPY up 7.24 at 470.60, on 116.8 million shares, above average volume, up on higher volume.
VIX down 2.60 at 19.29
CSCO, UNH, AAPL, AMGN led the DJIA, 23 advancers, +6
The two-year trend term is up. The one-year trend is up.
Up: QQQ, IWM, SPY, DIA,
Ten of eleven sectors were higher on Wednesday, led by XLK, XLV and XLU.
Technology leaders: AMD, NVDA, FTNT, ANET
Utilities leaders: ETR, AEP, WEC, CMS,
Advancers strengthened on Wednesday as advancers led 2,205 to 1,149 on the NYSE and led 3,010 to 1,698 on the NASDAQ.
The SPY MFC green line turned up at 75.5 and is bullish. SPY is a horizontal breakout setup.
Uptrend sectors: XLP, XLV, XLRE, XLU, XLK, XLB, XLY, XLE, XLI, XLF,
Down trend sectors: XLC,
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: Sideways
84 of 100 NDX stocks closed higher on Wednesday.
52 NDX stocks are above their 30 DMA: DLTR, VRSK, AVGO, AAPL, COST, QCOM, LRCX, MCHP, MU, GILD, VRTX, CSCO, FAST, ORLY, XEL, CSX, MRVL, PEP, AEP, AMGN, CTAS, CTSH, FISV, SBUX, WBA, CERN, MNST, REGN, PCAR, EXC, MDLZ, FB, INCY, ILMN, TMUS, ADP, AMAT, ANSS, CDNS, CDW, GOOGL, INTC, KDP, MRNA, NXPI, PAYX, SIRI, SNPS, SWKS, TXN, VRSN, XLNX,
NDX Stocks to Watch on Thursday:
Moving Below 30 DMA = 0
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