DJI, RUT Closed Higher, SPX, NDX Closed Slightly Lower...Fed Cuts Interest Rates 25 bps as Expected...Financial, Consumer Staples, Communication Services Led Sectors...

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SPX -6.41, 6,600, a third close above 6,600, closed slightly lower.  Breadth was mixed on Wednesday.  The Fed lowered interest rates by 25 basis points as expected.

A very typical Fed announcement day with light volume trading in approximately a $2 range until the announcement at 2 pm ET and press conference at 2:30, then heavy volatile trading in a $7+ range during the last two hours. Dave

NDX -0.21%, a one day breakout test pullback and formed a red hammer.

DJI, 46,018, +0.57%, bounced up, led by strength in CAT, AXP and GS.

NVDA -4.59, -2.62%, pulled back in a channel bounce down pattern.

AVGO -13.83, -3.84%, pulled back in a bull flag price pattern setup.   

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

SPY down -.82 at 659.18, 101.6 million shares, above average volume,

VIX down -.64 at 15.72

QQQ down -1.18 at 590.00

AXP, CAT, V, PG led DJIA, 23 advancers, +12

HOLX, FOXA, AXP, FSLR, ADBE led SPX, 286 advancers,

WDAY, PDD, MRVL, CHTR led NDX, 63 advancers,

Up: DIA, IWM,

Down: SPY, QQQ,  

The SPY MFC green line is flat at 96.2 and is short-term bullish. -0.2

Seven of eleven sectors were higher on Wednesday led by XLF, XLP and XLC. 

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

Neutral sectors: XLP, XLV, XLRE,

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: Up a little

63 of 100 NDX stocks closed higher on Wednesday.

53 NDX stocks are above their 30 DMA: GOOGL, ORLY, PDD, BKR, APP, VRTX, AAPL, MNST, MU, INTC, ADI, PANW, QCOM, TSLA, TTWO, MDB, ADSK, AVGO, BIIB, ASML, AMZN, GEHC, LRCX, DDOG, KLAC, DASH, WBD, ZS, ARM, MRVL, TEAM, EA, PCAR, CRWD, CEG, PLTR, AMAT, BKNG, CDNS, FTNT, META, REGN, ADBE, CDW, MDLZ, MELI, ON, BKNG, CCEP, CHTR, LIN, MCHP, NFLX, PYPL, WDAY,

NDX Stocks to Watch on Thursday:

Moving Above 30 DMA = 8

BKNG, CCEP, CHTR, LIN, MCHP, NFLX, PYPL, WDAY,

Moving Below 30 DMA = 3

IDXX, MAR, VRTX,

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