Broad Rally Sizzles on Fed Rate Hike...ENPH Leads SPX...Technology, Communication, Discretionary Leads Sectors...

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The SPX +102.56 opened higher and closed higher rising 47 points after the Fed announced their rate hike two hours before the close.  /CL and GLD closed higher, while DXY, TLT and TXN moved lower.

The FOMC meets raised rates 0.75% as expected.

A total of 175 SPX companies will report EPS this week including GOOGL, MSFT on Tuesday, META on Wednesday, AAPL, AMZN on Thursday.

175 SPX companies report EPS this week:  NEM, BRO, CDNS, FFIV, NEM, NXPI, PKG, UHS, WHR/ Tue: ADM, CNC, ECL, FISV, GE, GLW, GM, KMB, KO, MCD, MCO MMM, MSCI, NVR, PCAR, PHM, PNR, RTX, UPS, AMP, BXP, CB, CMG, ENPH, EQR, ESS, FE, GOOG, GOOGL, IEX, JNPR, MDLZ, MSFT, SYK, TER, TXN, UDR, V, ZION/ Wed: ADP, AEP, APH, AVY, BA, BMY, BSX, CME, GD, GPC, GRMN, HES, HLT, HUM, IVZ, KHC, LW, NSC, ODFL, OTIS, ROK, ROL, SHW, TDY, TEL, TMUS, WM, ALGN, AVB, AWK, CHRW, CINF, CTSH, DRE, EQIX, ETSY, F, FBHS, FTI, GL, HOLX, LRCX, MAA, META, MOH, NOW, ORLY, PTC, QCOM, RE, RJF, TYL, URI, VICI/ Thu: ALLE, AMT, AOS, BAX, BEN, CARR, CMCSA, CMS, DTE, FTV, HON, HSY, IP, KDP, KIM, LH, LIN, LKQ, LUV, MA, MAS, MLM, MO, MRK, NLSN, NOC, PFE, RCL, SO, SWK, TFX, TMO, TROW, TXT, VLO, WST, WTW, XEL, AAPL, AJG, AMZN, BIO, CE, CPT, DLR, DXCM, EIX, EMN, ES, EW, HIG, INTC, KLAC, LHX, MHK, MTD, VFC, VRSN, WELL/ Fri: ABBV, AON, CBOE, CHD, CHTR, CL, CVX, GWW, LYB, NWL, PG, PSX, WY, XOM

First day reactions this week:

Positive: ENPH, CMG, ROK GOOGL, HLT, ADP, AVY, APH, MSFT, TXN, BSX, AMP, TMUS, OTIS, TEL, SYK, EQR, WM, LW, IEX, GPC, BXP, BMY, ZION, HES, ESS, MDLZ, GD, MMM, GE, ADM, FISV, MCD, FFIV, MCD, PNR WHR, CDNS KO, CNC, GLW, PCAR, MSCI = 43, QTD = 83

Neutral: UDR, FE, ODFL, BA, AEP, TER, NSC, IVZ, CB, V, KMB, NXPI, UHS

Negative: SHW, GRMN, TDY, KHC, CME, HUM, ROC, JNPR, PKG, RTX, PHM, GM, UPS, ECL, NVR, MCO, BRO, NEM = 18, QTD = 53

EPS reactions AMC Wednesday:

ETSY +8.95, 9.37%, F +0.84, 6.37%, URI +14.77, 5.14%,

Retail stocks rebounded on Wednesday. 

SPY up 10.15 at 401.04, on 82.3 million shares, above average volume, up on higher volume.
VIX down 1.45 at 23.24
QQQ up 12.44 at 306.81

MSFT, DIS, CRM, WMT led the DJIA, 23 advancers, +11

ENPH, CMG, SEDG, F, ETSY led the SPX, 432 advancers

PYPL, MELI, ADP, NVDA led the NDX 91 advancers

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

Up:  QQQ, SPY, IWM, DIA,

Down:   

All eleven sectors were higher on Wednesday, led by XLK, XLC and XLY.

Technology leaders:  ENPH, SEDG, PYPL, ADP

Communication Services leaders:  GOOGL, GCI, NFLX, TMUS

Consumer Discretionary leaders:  CMG, F, ETSY, CZR

Advancers strengthened on Wednesday as advancers led 2,678 to 545 on the NYSE and led 3,500 to 1,043 on the NASDAQ.

The SPY MFC green line is pointed up at 73.5 and is short-term bullish.  SPY bounced and closed above short-term resistance.

Uptrend sectors:    

Neutral sectors:   XLE, XLU, XLV, XLP,

Down trend sectors:  XLK, XLI, XLC, XLY, XLF, XLRE, XLB,

The 6-month intermediate trend is down.  The ten-day trend is up.

3-month Intermediate Term Market Trend: Down

3-day Short Term Market Trend: Up

91 of 100 NDX stocks closed higher on Wednesday.

85 NDX stocks are above their 30 DMA:   SGEN, MNST, VRTX, AZN, COST, DXCM, OKTA, ORLY, KDP, PEP, VRSK, AMGN, SIRI, VRSN, AAPL, CDNS, CPRT, IDXX, CTAS, QCOM, TSLA, ADI, CHTR, ROST, SWKS, TXN, ALGN, AMZN, ATVI, CMCSA, FISV, ISRG, MCHP, MU, NFLX, NXPI, ODFL, SNPS, INTC, KLAC, SPLK, ABNB, ADBE, ADP, ADSK, AMAT, AMD, ANSS, ASML, AVGO, CSCO, CSX, EBAY, INTU, LRCX, MAR, MDLZ, MELI, MRVL, NVDA, PAYX, PCAR, PYPL, CTSH, EA, ILMN, NTES, HON, AEP, EXC, XEL, JD, TMUS, BIIB, BKNG, CRWD, DOCU, GOOGL, LULU, META, MSFT, MTCH, OKTA, TEAM, WBA, WDAY,

NDX Stocks to Watch on Thursday:

Moving Above 30 DMA = 12

BKNG, CRWD, DOCU, GOOGL, LULU, META, MSFT, MTCH, OKTA, TEAM, WBA, WDAY,

Moving Below 30 DMA = 1

KHC,

 

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