THE LATE CLOSE
A typical wacky FOMC afternoon of trading that ended with the SPX up 6, the NAZ +27 and the DJIA -23.
Strong sectors included metals, internets, reits, biotech and semis while commodities, drugs, telecom and defense lagged.
NYSE- 1400 net winners;
NAZ- 600 net winners;
NDX 90 GREEN;
SPX 391 GREEN;
Winners WY ORCL FDX EMC AVP F SLE RF AA AMZN FMCN BBBY YHOO STLD FSLR;
Losers PAYX GILD ORLY AMGN FLEX ADP NTAP BA NKE MON GD S LMT AXP UTX RTN;
VIX - down 5% at 29.05 and trading 3% under the SMA 10;
Volume very weak with up volume 8/3 over down with a light 1.1B shares traded;
RSI (2) levels as follows:
A very whippy afternoon with the DJIA closing lower with lousy action from BA contributing to a lot of the loss- Internals were pretty good - and as usual not much feel for direction for tomorrow as it is a day traders market for now- however the SPX is still above the 50 and 200 SMA so probably some support there on any dips.