The Morning After the FED 3-20-19

The ES vs NQ continues. The es this morning (GLOBEX) took out yesterday low and weekly low of 2717.5 with a low so far at 2815. To review the ES did not make a new high with the post FED rush up topping at 2849.25 while the NQ made a weekly and yearly high at 7458 to close below its prior high of 7421.5. The es was lead down later after 3 by the banks. GS from 206+ to 194 and now preopen under 193. MASSIVE move. Transports are terrible watch the pivot low of 180.45 to see if it holds. Xrt – retail also been lagging as the same for the XHB and homebuilders. The bright spot was the XLE which broke above resistance again with a move to 67.42 only to rollover later in the day. The semis did not participate in the nq rally, and the same for XLK and IBB. It WAS JUST A FANG JOB in the rally

I will be watching to see if FANG catches a bid. AAPL looks strong peopen 189.40 was yesterdays high with 189.99 pivot high. 190.65 IS 200 DAY. RSI on daily still overbought at 74. AMZN FROM 1586-1800 ISH in 9 days. NFLX woke up with new year high with resistance at 386 area above the new high. FB has res at yesterday high 166.12 right near the 200 day. Also will be watching the semis to see if they stay bid this morning with MU report. 105.61 is yesterdays low with 105.30 support below with a high above of 107.68 IBB which has not been participating looks down this morning around 3%.

Also worth noting the Crude took at old high marginally overnight at 60.33 and reverse

Support es 2800-06

support nq 7449.5

then 7321

Good luck

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