SPX Closes Lower, Falling 68 Points after FOMC Presser and Yellen Comments before Senate...Sectors Lower...

 

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-SPX -65.90, opened flat, rallied after Fed announcement to a high of 4,039,

-sold off 68 points in the last half hour, after press conference to close at 3,936.97.

-Financial sector, XLF -2.32%

-FRC -2.44, -15.47%, KRE -2.62, -5.69% as regional banks sold off.

-VIX closed .88 higher.

-FOMC hikes rates 25 bps as expected.

-Yellen comments before Senate at 2:30 pm ET, correlated with market drop.

GLD, /CL and TLT closed higher, while DXY and TNX moved lower.

Mega caps NVDA rose and MSFT, AAPL, META, GOOGL, AMZN, TSLA fell.

SPY down 6.80 at 392.11, on 111.6 million shares, above average volume, up on higher volume.

VIX up .88 at 22.26

QQQ down 4.22 at 306.12.

PG, KO, MSFT, WMT led the DJIA, 0 advancers, -19

MTCH, KR, ORCL, PHM led the SPX, 9 advancers

AMD, LULU, NVDA led the NDX, 3 advancers.

Up: 

Down:  QQQ, DIA, SPY, IWM

All eleven sectors were lower on Wednesday, the weakest were XLY, XLF and XLRE.

The SPY MFC green line is pointed up at 36.9 and is short-term bullish.  SPY opened flat and closed lower following the FOMC press conference.

Uptrend sectors:   XLK, XLC, XLY, XLB,

Neutral sectors:  XLI, XLE, XLF, XLP, XLV, XLRE,

Down trend sectors: XLU,

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

3-month Intermediate Term Market Trend: Up

3-day Short Term Market Trend: Up a little

3 of 100 NDX stocks closed higher on Wednesday.

42 NDX stock are above their 30 DMA:   META, SGEN, ANSS, CDNS, NVDA, PANW, FTNT, CRWD, AVGO, AMD, ATVI, OKTA, ODFL, VRSK, AAPL, ILMN, AMAT, CSCO, DXCM, INTC, MDLZ, MELI, MSFT, SNPS, GOOG, GOOGL, PEP, ADBE, ADI, AMZN, CPRT, EA, GFS, INTU, ISRG, LRCX, TXN, VRTX, ASML, AZN, BKNG, MU,

NDX Stocks to Watch on Thursday:

Moving Above 30 DMA = 0

Moving Below 30 DMA = 13

ABNB, ALGN, CTAS, FAST, IDXX, KDP, MNST, PYPL, REGN, TMUS, TSLA, WBD, WDAY,

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