©
2024
SPX -178.45, 5,872, fell (SPXs largest daily point drop in
2024) after the Fed lowered
the Fed Funds rate 25 bps as expected, and released the SEP which indicated a decrease
from four to two expected rate cuts in 2025. The broad selloff continued to
accelerate to the downside as the 2:30 pm press conference began. The DJI fell for a tenth day to 42,326. The RUT closed lower.
NDX -3.60% closed
lower.
TSLA -39.73, -8.28%, opened
lower, rallied to a new high and sold off with the market following the FOMC
announcement.
SMCI -1.57, -4.64%, sold off with
the market after the FOMC announcement.
SMCI will be removed from the NDX 100
before the open on Dec. 23 along with MRNA and ILMN. PLTR, AXON and MSTR will be
added to the NDX.
Mega caps NVDA, BRK/B, AAPL, META, GOOGL, MSFT, AMZN, AVGO, TSLA fell
on Wednesday.
SPY down 18.01 at 586.28, 108.2 million
shares, above average volume,
VIX up 11.75 at 27.62,
VIX1D
up 32.46 at 45.75, FOMC event
risk on Wednesday did occur to the downside.
QQQ down 19.33 at 516.47
UNH, BA led the DJIA, 1 advancer, -8
JBL,
CI, UNH, CNC, CVS led the SPX, 18 advancers
EXC, TMUS led the NDX, 1 advancer
Up:
Down: DIA, SPY, QQQ, IWM,
The SPY
MFC green line turned down at 80 and is counter-trend defensive.
-11.1.
All
eleven sectors
were lower on Wednesday.
Uptrend sectors: XLY, XLC,
XLK, XLF, XLI, XLP, XLU, XLRE,
Neutral sectors: XLE, XLB,
Down trend sectors: XLV,
The 6-month intermediate trend is up. The ten-day trend
is down.
3-month Intermediate Term Market Trend: Up
3-day Short Term Market Trend: Down
1 of 100 NDX stocks closed higher on Wednesday.
20 NDX stocks are above their 30
DMA: MRVL, NFLX, TSLA, WBD, AMZN, COST, DDOG, LULU, ROST, AAPL, SMCI,
MSFT, ASML, META, LRCX, CCEP, WDAY, AVGO, GOOGL, MU,
NDX Stocks to Watch on Thursday:
Moving Above 30 DMA = 0
Moving Below 30 DMA = 25
APP,
ARM, AZN, BKNG, CDNS, CPRT, CRWD, CTSH, DASH, DXCM, FTNT, GFS, GILD, HON, INTU,
ISRG, KDP, KLAC, MAR, ORLY, PANW, PYPL, TEAM, TTD, TTWO,
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