Blue-Chips Recover 25,000 Level

U.S. markets showed strength throughout Wednesday’s session following good corporate earnings and the Fed’s unanimous decision to stand pat on interest rates.

The major indexes cleared major resistance levels while breaking out of a two-week trading range and getting the 200-day moving averages back in play.​

Meanwhile, volatility tested near-term support levels but remains trapped between its 50-day and 200-day moving averages.

The Nasdaq zoomed 2.2% following the intraday run to 7,201. Prior and upper resistance at 7,150-7,200 was cleared but held with continued closes above this level being a bullish signal.

The Dow surged 1.8% after reaching an intraday peak of 25,109. Fresh and lower resistance at 25,000-25,200 and the 200-day moving average was cleared and held for the first time since early December.

The S&P 500 soared 1.6% following the second half push to 2,690. Near-term and lower resistance at 2,675-2,700 was cleared and held with a close above the latter getting 2,750 and the 200-day moving average in the mix.

The Russell 2000 rallied 1.1% after testing an intraday high of 1,490. Lower resistance at 1,490-1,500 was triggered but held with a close above the latter being a bullish signal for higher highs.

Technology led sector strength with a 3.1% gain. Consumer Discretionary and Industrials were higher by 2% and 1.6%, respectively. Communication Services, Energy and Healthcare rose 1.4%.

There was no sector weakness.


Alliant Energy (LNT) upgraded to Outperform from Market Perform at Wells Fargo
Synchrony (SYF) upgraded to Buy from Neutral at BofA/Merrill
Plug Power (PLUG) upgraded to Neutral from Sell at Roth Capital

Allergan (AGN) downgraded to Sector Perform from Outperform at RBC Capital
Carnival (CCL) downgraded to Hold from Buy at Standpoint Research
Whirlpool (WHR) downgraded to Underperform from Sector Perform at RBC Capital

Thursday Before the Open (EST):
​Altria Group (MO), Baxter International (BAX), Celgene (CELG), DowDuPont (DWDP), Eaton (ETN), FirstCash (FCFS), General Electric (GE), Hershey (HSY), International Paper (IP), Kemet (KEM), MasterCard (MA), Nokia (NOK), Raytheon (RTN), Sherwin-Williams (SHW), Sprint (S), United Parcel Service (UPS), Valero Energy (VLO), WestRock (WRK), Xylem (XYL)
Thursday After the Close (EST): (AMZN), Cypress Semiconductor (CY), Deckers Brands (DECK), Esterline Technologies (ESL), Fortune Brands (FBHS), McKesson (MCK), Open Text (OTEX), Post Holdings (POST), SkyWest (SKYW), Symantec (SYMC), Yum China Holdings (YUMC)

Thursday's Economic Reports (EST):
Challenger Job-Cut Report - 7:30am
Jobless Claims - 8:30am
Personal Income and Outlays - 8:30am
Employment Cost Index - 8:30am
Chicago PMI - 9:45am
Farm Prices - 3:00pm


Gold closed at $1,313.50 an ounce, up $6.60
Silver settled at $15.93 an ounce, up $0.09

Copper finished at $2.76 a pound, up $0.04

Crude Oil is at $54.29 a barrel, up $1.13

Bitcoin Investment Trust (GBTC) ended at $4.06, up $0.04

  I hope this helps you prepare for the trading day. Make it a great one!

   Todd Mitchell

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Blue-Chips Recover 25,000 Level

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