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The SPX, NDX and DJI finish lower
after the FOMC Minutes are released at 2 pm ET. The rapid selloff indicating that institutions
concluding that the Fed may be more hawkish in tapering asset buying, raising
rates and taking action against inflation.
SPX closed at 4,700 -92.96.
NDX closed at 15,771, -507.96.
SPY down 9.17 at 468.38, on 104.5 million shares, above average volume, down on high volume.
VIX up 2.82 at 19.73
QQQ down 12.18, -3.07% at 384.29
MRK, INTC, WMT, VZ led the DJIA, 13 advancers, -7
NUE, MRK, T, PFE led the SPX, 100 advancers.
MDLZ, INTC, TMUS, HON led the NDX, 10 advancers.
The two-year trend term is up. The one-year trend is up.
Up:
Down: DIA, SPY, QQQ, IWM,
All eleven
sectors were lower on Wednesday, led by XLB,
XLE and XLU.
Basic Materials leaders: NUE, APD, PPG, CE
Energy leaders: XOM, PXD, CVX, MPC
Utilities leaders: D,
CMS, WEC, XEL
Advancers weakened on Wednesday as decliners led 2,727 to 609
on the NYSE and led 3,738 to 916 on the NASDAQ.
The SPY MFC green line
is pointed down at 85.5 and is counter-trend defensive. SPY
broke short-term support and formed a bull flag pattern with a large red candle.
Uptrend sectors: XLP, XLU, XLE, XLI, XLB, XLF, XLV, XLK,
XLRE, XLY,
Neutral sectors:
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: Down
10 of 100 NDX stocks
closed higher on Wednesday.
40 NDX stocks are above their 30 DMA: DLTR, AVGO, AAPL, COST,
LRCX, MU, GILD, VRTX, CSCO, ORLY, XEL, MRVL, PEP, AEP, AMGN, CTSH, WBA,
CERN, MNST, MDLZ, INCY, KDP, PAYX, CHKP, AMAT, ATVI, BKNG, CSX, EA, EXC, FISV,
INTC, KLAC, MAR, QCOM, ADP, KHC, TSLA, PCAR, CMCSA, BIIB, SWKS, HON,
NDX Stocks to Watch on Thursday:
Moving Above 30 DMA = 0
Moving Below 30 DMA = 13
ADSK, BIDU, FAST, FB, ISRG, MCHP,
MELI, MTCH, NXPI, PYPL, ROST, SBUX, VRSN,
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