FOMC Raises 50 bps as Expected Followed by Broad Rally...Energy, Technology, Communication Lead Sectors...

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QQQ, SPY, DIA, IWM opened slightly higher, traded in a range until after the FOMC announcement of 50 bps rate increase as expected.  After the expected rate increase a broad rally into the close lifted all four index ETFs and all 11 sectors.  All 30 Dow stocks, 474 SPX stocks and 94 NDX stocks closed higher.

SPY up 12.68 at 429.06, on 144.2 million shares, above average volume, up on higher volume.
VIX down 3.83 at 25.42
QQQ up 10.78 at 329.60
  

HON, CAT, MMM, AAPL led the DJIA, 30 advancers, +11
PAYC, GNRC, ENPH, XYL led the SPX, 474 advancers.
SBUX, AMD, ABNB, MTCH led the NDX, 94 advancers.
  

The two-year trend term is up.  The one-year trend is sideways.

Up:  QQQ, SPY, DIA, IWM,
Down:  
 
All eleven sectors were higher on Wednesday, led by XLE, XLK and XLC.

 
Energy leaders:  FTI, APA, SLB, PSX
Technology leaders:  PAYC, ENPH, AMD, SEDG
Communication Services leaders:  MTCH, FB, CHTR, TMUS

Advancers strengthened on Wednesday as advancers led 2,713 to 612 on the NYSE and led 3,426 to 1,338 on the NASDAQ.

The SPY MFC green line is pointed up at 21.4 and is short-term bullish.  SPY bounced for a second day and made its highest close in 8 days.    

Uptrend sectors:  XLE, XLU, XLP, XLV, XLB, XLRE,
Neutral sectors:  XLY, XLI,
Down trend sectors: XLK, XLF, XLC,
 
The 6-month intermediate trend is sideways.  The ten-day trend is down.
 
3-month Intermediate Term Market Trend: Sideways
3-day Short Term Market Trend: Up
 
94 of 100 NDX stocks closed higher on Wednesday.
 
34 NDX stocks are above their 30 DMA:  KHC, MNST, ROST, MDLZ, JD, NTES, PDD, DLTR, HON, NXPI, ADI, ADP, ADSK, AEP, ATVI, AVGO, CDNS, CSX, EXC, FB, FISV, GILD, KLAC, LRCX, MAR, MCHP, MU, ODFL, PCAR, PEP, QCOM, TMUS, VRTX, XEL,
 
NDX Stocks to Watch on Thursday:

Moving Above 30 DMA = 24
ADI, ADP, ADSK, AEP, ATVI, AVGO, CDNS, CSX, EXC, FB, FISV, GILD, KLAC, LRCX, MAR, MCHP, MU, ODFL, PCAR, PEP, QCOM, TMUS, VRTX, XEL,   
 

Moving Below 30 DMA = 0

 

Earnings season: 

Wednesday AMC: ALB ALL ANSS APA ATO BKNG CDAY CTSH CTVA EBAY ES ETSY FTNT HST IR LNC LUMN MET MRO O PXD QRVO =22
 
Thursday BMO:  APD APTV BDX BLL CAH CBRE COP CTXS D EPAM EVRG FRT GCI HII ICE K PENN PH PPL PWR RCL SRE TRMB WRK ZTS = 25
 

Q1 Earnings Reports since April 13:

Positive reactions: PAYC, GNRC, SBUX, XYL, AMCR, AMD AIG EXR, REG, MTCH MRNA, CDW, VMC, CVS, MAR, ABC, OKE TECH, CTLT, DVN, CTRA, MOS, WAT, IPGP, MPC, CMI, BXP, HWM, MLM, SEDG, MHK,CE, HON, FB, PTC, PYPL, QCOM, TYL, NOW, CHRW, DFS, TMO, EQIX, TXT,  LLY, MA, MRK, LKQ, MCD, ABMD, AEP, AWK, GWW, HSY, KIM, LVS, PHM, RJF, URI, ENPH, V, CME, FISV, MSFT, MAS, TL, WAB, TMUS, CB, NSC, STX, HUM IEX, CMG, ADP, ROL, APH, IQV, GM, HKC, GD, HES, BSX, SIVB, KMB, SLB, UAL, T, AAL, NUE, TSLA, DOW, CSX MMC, DGX, PM, MTB, IBM, OMC, MKTX, ASML, PG, ANTM, ABT, SBNY, CFG, HAS, FITB, PLD, JNJ, JBHT, SYF, BAC, C, USB, FRC, DAL, FAST,

Neutral reactions: TWTR, HOLX, TXN, ETR, MDLZ, ESS, AMT, GRMN, ODFL, PPG, RF, GL, GPC, ALK, KMI, SNA, DHR, CCI, TSCO, HBAN, HAL, GS, MS, UNH, BLK,

Negative reactions: AKAM, JCI IDXX, SWKS, VRSK, PEAK,  ROK, EXPE, FMC, EL, HLT ANET IT ABRA, MGM, GPN, MCO, VRSN, AMZN, CINF, AON, CHTR, INTC, RMD, FBHS AJS ABBV, CL KLAC AAPL CVX, LHX, BMY, XOM, CBOE, DXCM, ALGN, ORLY, SWK, TFX, CMCSA, DPZ, AMGN, AFL, AOS, CHD, LH, F, FFIV, RHI, BA, COF, EW, JNPR, GOOGL, EQR, TDY, UDR, CNC, TER, FE, ISRG, HCA, VZ, NEM, AXP, FCX, EFX, DOV, NEE, KEY, LRCX, PNR, UNP, POOL, NFLX, NDAQ, BKR, CMA, TRV, LMT, TFC, SCHW, BK, STT, WFC, PNC, JPM

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