Futures Higher Afterhours following Volatile Gyrations During Regular Trading...FOMC Cuts Rates 50 BPS...Stocks Spike and Fall...

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Afterhours:  After gyrating wildly after the Fed rate cut and closing slightly lower, NQ futures have risen more than +1.40%  in evening trading, reversing the pullback during Powell’s press conference this afternoon.

The SPX -16.32, 5,618, opened slightly higher and moved 490 SPX points in seven up and down cycles, to close 16 points lower.  The Fed delivered a 50 bps cut in line with the CME Fed Watch Tool probability derived from /ZQ Fed funds trading, but higher than a CNBC Fed Survey of money managers, economists and strategist who estimated a 25 bps cut.  Stock prices spiked on the Fed announcement before pulling back to close slightly lower.

There is volatility, drawing on the chart.

The NDX -0.45% opened higher, traded in a choppy range before and more choppy after the FOMC announcement on Wednesday and closed lower.

NVDA -2.22, -1.92%, opened flat, traded in a range and closed lower.

AVGO -1.55, -0.95%, opened higher traded in a range and closed lower.

Mega caps AAPL, GOOGL, META rose BRK/B, AMZN, TSLA, MSFT, NVDA fell on Wednesday.

SPY down 1.67 at 561.40, 58.8 million shares, above average volume

VIX up .62 at 18.23

QQQ down 2.05 at 471.44

AAPL, DIS, WMT, UNH led the DJIA, 12 advancers, -5

WST, GM, BIO, BLK, GEHC led the SPX, 209 advancers

DLTR, TEAM, MNST, TTD led the NDX, 33 advancers

Up:  IWM,  

Down:  DIA, SPY, QQQ,

One of eleven sectors was higher on Wednesday, led by XLE, XLC and XLI.

The SPY MFC green line is pointed up at 92.6 and is short-term bullish. +0.7

Uptrend sectors:   XLV, XLP, XLRE, XLU, XLF, XLI, XLY, XLC, XLB, XLK,

Neutral sectors: 

Down trend sectors:  XLE,

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: Sideways

33 of 100 NDX stocks closed higher on Wednesday.

64 NDX stocks are above their 30 DMA:  CTAS, GILD, AEP, ADP, PAYX, EXC, XEL, MDLZ, KDP, PYPL, DASH, MELI, ISRG, FTNT, GEHC, COST, TTD, SBUX, ADSK, CCEP, NFLX, CSCO, MRVL, ROP, ROST, WDAY, TTWO, BKNG, MAR, MDB, PEP, MNST, AMZN, FAST, IDXX, LIN, PCAR, TSLA, AMD, AMGN, ARM, MSFT, ADI, AVGO, CEG, CRWD, LULU, CDNS, CDW, META, PCAR, WBD, ABNB, ILMN, ORLY, QCOM, TXN, CSX, INTC, BKR, ODFL, QCOM, CMCSA, CSGP, DDOG, TEAM,

NDX Stocks to Watch on Thursday:

Moving Above 30 DMA = 4

CMCSA, CSGP, DDOG, TEAM,

Moving Below 30 DMA = 7

ANSS, CTSH, HON, INTU, TMUS, TXN, VRTX,

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