SPX Bounces and Closes Higher after FOMC Minutes...DXY 19-year High...Utilities, Tech, Health Care Lead Sectors...

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Stocks opened flat traded in a range until FOMC Minutes at 2 p.m. ET, and the SPX +13.69 closed above Tuesday’s high and formed a higher high/higher low spinning top.  DXY closed at 107.044, its highest close since Oct. 30, 2002. TLT, /CL, GLD closed lower while TNX moved higher.

SPY up 1.29 at 383.25, on 70.3 million shares, below average volume, up on lower volume.

VIX down 0.81 at 26.73

QQQ up 1.84 at 288.80

UNH, CSCO, TRV, MSFT led the DJIA, 18 advancers, +6

NOC, LHX, GWW, WST led the SPX, 271 advancers

LCID, CDNS, MRNA, IDXX led the NDX, 55 advancers

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

Up:  QQQ, SPY, DIA,

Down: IWM,

Seven of eleven sectors were higher on Wednesday, led by XLU, XLK and XLV.

Utilities leaders:  WEC, ATO, CMS, NI

Technology leaders:  CDNS, ANET, ADP, SNPS

Health Care leaders:  WST, CTLT, MRNA, ZTS

Advancers weakened on Wednesday as decliners led 2,012 to 1,242 on the NYSE and led 2,673 to 1,973 on the NASDAQ.

The SPY MFC green line turned up at 33.7 and is short-term bullish.  SPY traded in a range that closed higher, formed a white spinning top and closed above Tuesday’s high after FOMC minutes.

Uptrend sectors:

Neutral sectors:  XLE, XLU,

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

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

55 of 100 NDX stocks closed higher on Wednesday.

45 NDX stocks are above their 30 DMA:   SGEN, ZM, BIDU, PDD, JD, MNST, BIIB, CRWD, VRTX, DLTR, TEAM, TMUS, ATVI, AZN, COST, DXCM, OKTA, ORLY, KDP, KHC, MDLZ, ODFL, PEP, VRSK, AMGN, DDOG, GILD, PANW, SIRI, VRSN, ZS, AAPL, AMZN, CDNS, CPRT, FTNT, GOOGL, IDXX, INTU, MSFT, ADP, ANSS, CTAS, LCID, SNPS,

NDX Stocks to Watch on Thursday:

Moving Above 30 DMA = 5

ADP, ANSS, CTAS, LCID, SNPS,

Moving Below 30 DMA = 2

CHTR, NFLX,  

 

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