ES and NQ Futures Rise on Strong EPS Reactions from META +11%, MSFT +8%...Fed Leaves Rates Unchanged...Utilities, Communication Services, Technology Led Sectors...

 

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SPX -7.96, 6,362, opened higher, traded in a range, closed slightly lower.  Below average volume until the FOMC press conference at 2:30 pm ET when heavy trading resulted in an above average volume trading day.

NDX +0.16%, opened flat, traded in a range and closed slightly higher. 

DJI, 44,461 -0.38%, closed lower led by weakness in HD, MMM, AXP, SHW.   

Breadth was mixed and remained negative on Wednesday.

TSLA -2.16, -0.67%, closed lower in channel.

AVGO +5.20, +1.75%, new high close.

GNRC +29.68, +19.61%, on a positive EPS reaction.

After-hours: META +80.19, +11.53%, MSFT +44.90, +8.75%, big beat on sales and EPS led to a positive EPS reaction.

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EPS Thursday: 33 SPX companies report: ABBV AME APD APTV BAX BIIB BLDR BMY CI CMCSA CMS CVS DINO EXC HII HWM ICE IP K KIM KKR MA MAS NCLH PCG PPL PWR SO SPGI VMC WTW XEL XYL BMO and 17 companies AAPL AEE AES AJG AMZN CLX COIN CPT EMN ES FSLR IR KLAC MTD PARA RMD SYK AMC.

Q2 First day reaction:

Positive: GNRC, TER, HUM, EA, BG, EXE, AEP, MO, HSY, ETR, GLW, INCY, CDNS, CBRE, UHS, WELL, CINF, WM, HIG, VLTO, DECK, NEM, VRSN, CNC, EW, AON, MHK, WY, WST, FTI, URI, LH, ALLE, NDAQ, TMUS, GL, ROL, LVS, NOW, CCI, RJF, AOS, BX, POOL, ORLY, CNP, LHX, GOOGL, LW, GEV, TEL, BKR, TMO, CSGP, LII, GD, BSX, MCO, T, IQV, DHI, PHM, NOC, GPC DGX, IPG, PCAR, IVZ, ARE, KEY, SYF, AVY, WRB, VZ, ROP, RF, SCHW, SNA, PEP, TRV, TSM, CTAS, CFG, JNJ, OMC, PGR, JBHT, PLD, C, FAST, = 89+1

Neutral: REG, ADP, BKNG, HES, V, SBUX, KHC, WEC, ACGL, PGF, DTE, PG, PSX, CSX, KDP, PKG, TSCO, COF, CME, NVR, HAS, HAL, DHR, PNR, NXPI, SHW, KO, DPZ, MMC, PNC, GS, BAC, BK, JPM = 34

Negative: IEX, ODFL, TT, GEHC, ESS, GRMN, MDLZ, VRSK, RSG, BXP, PPG, STX, FTV, ITW, CZR, SW, CARR, UPS, BRO, PYPL, UNH, JCI, SWK, RCL, BA, AMT, ECL, NSC, NUE, HUBB, SYY, MRK, RVTY, CHTR, INTC, DOC, HCA, DLR, LKQ, DOW, MOH, CMG, TSLA, IBM, TXT, WAB, HON, VLO, UNP, AMP, DOV, ENPH, FI, TXN, OTIS, NEE, EQT, CB, HLT, FCX, NTRS, ISRG, TDY, APH, LMT, MSCI, PM, EFX, GM, STLD, RTX, NFLX, SLB, MMM, AXP, TFC, HBAN, ELV, ABT, GE, USB, FITB, MTB, MS, WFC, BLK, STT = 87

Bold is > +5% or -5%

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

SPY down .80 at 634.46, trading range day, 80.0 million shares, above average volume

VIX down .50 at 15.48

QQQ up .76 at 568.02

NVDA, UNH, CAT, JPM led DJIA, 8 advancers, -5

GNRC, TER, HUM, BG led SPX, 157 advancers, decreased

MRVL, EA, CEG, AEP led NDX, 42 advancers,

Up: QQQ,

Down: SPY, DIA, IWM,

The SPY MFC green line is in range at 95.3 and is short-term bullish. -1.7

Three of eleven sectors were higher on Wednesday led by XLU, XLC and XLK.

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

Neutral sectors: XLP, XLE, XLV,

Down trend sectors:

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

3-month Intermediate Term Market Trend: Up

3-day Short Term Market Trend: Sideways

42 of 100 NDX stocks closed higher on Wednesday.

57 NDX stocks are above their 30 DMA: AVGO, DDOG, MSFT, NVDA, AMD, AMZN, CSX, WBD, DASH, CSGP, GOOGL, AEP, SNPS, CDNS, FAST, PEP, AAPL, CCEP, AMGN, TTD, VRTX, REGN, ORLY, PLTR, KHC, XEL, ARM, MDB, PDD, BKR, CEG, DXCM, QCOM, ROST, TMUS, CDW, GILD, IDXX, INTU, PCAR, ADSK, APP, AZN, CTAS, FANG, MRVL, ADP, ON, PAYX, WDAY, AMAT, KLAC, LRCX, TSLA, KDP, CSCO, EA,

NDX Stocks to Watch on Thursday:

Moving Above 30 DMA = 2

CSCO, EA,

Moving Below 30 DMA = 10

ABNB, FTNT, GEHC, GFS, LIN, MAR, MDLZ, MNST, NXPI, ROP,

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