The Closing Print live trading and financial blog during market hours.

The stocks herein are from the stochastic scan. They are ranked by relative performance, exhibiting strength as the indices remained range bound into the FOMC decision. Consumer discretionary, healthcare, biotech, utilities, technology, semiconductor and “meta-verse” related stocks saw inflows.

The equity markets traded lower ahead of the FOMC rate decision, then rallied to SPX 4700) resistance in the final two hours of Wednesday’s session.

The Dow Jones Industrial Average rose more than 1.0% post-FOMC. In addition, the S&P 500 index jumped 1.6%, with Advanced Micro Devices, Nvidia, and Eli Lilly, topping out on above average volume. The Nasdaq composite popped an additional 2.15%. The small-cap Russell 2000 (IWM) rebounded off its 10-month range support.

Stochastic Oversold Scan

Both (AMD) and Nvidia (NVDA) blasted higher from their 50-day moving averages, gaining 8% and 7.5%, respectively.  The stocks rose prior to the FOMC rate decision on above average volume, which indicated institutions were buying. and many “meta verse” related technology stocks rose after Chairman Powell’s anticipated rhetoric.or a follow through day on Wednesday.

Advanced Micro Devices – Semiconductors Rally

Advanced Micro Devices (AMD) was discussed on Tuesday during the live broadcast as we looked for the stock to close on a bullish candle above the 50d moving average. This was key to the reversal signal we were looking for after a 10-day fade from 52-week highs. We were looking for a follow through day on Wednesday.


All of the stocks in the list above exhibit similar results, with bullish follow through on Wednesday, post-FOMC, rising on above average volume to end the session.

Advanced Micro Devices – Weekly Chart

Advanced Micro Devices (AMD) weekly chart confirms momentum is clearly bullish as the stock rebounds above its bullish weekly 10ema.

Average true range is rising in most cases, with AMD, Nvidia, Eli Lilly and ANET stock are all flashing buying signals.


AMD, Nvidia, Arista, Google and Tesla are on IBD Leaderboard this week, while AMD and ANET joined SwingTrader alerts.  

In addition to the above, Applied Materials (AMAT) and Arista Networks (ANET) are on the IBD 50.



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