Markets predictably gyrated around after the 2PM Fed announcement to leave interest rates UNCH. The Nasdaq which had powered higher by 1.4% not long after the decision was the only benchmark to finish higher, doing just barely by .1%. The S&P 500 briefly eclipsed the very round 2000 handle only to reverse course and CLOSE underneath, finishing lower by .2% after earlier an earlier advance of better than 1%. Is this a bull trap set up? Heading into Friday the S&P 500 is higher by 1.5% and looking for a third weekly gain in the last four. The Nasdaq is up 1.5% for the week thus far and today reversed precisely at its 50 day SMA. Friday should be fun. The healthcare and utilities enjoyed the best gains Thursday. The utilities were obviously higher on the notion that there interest rates will not be subject to the competition of government paper for at least a little while longer. The healthcare group just continues to march higher and many smaller names in the group did well, and the small cap space is the most exposed to interest rates as they look for financing. One name that stood out today was HZNP which rose 8%. We profiled the name in our Tuesday Game Plan this week and the chart below is how it was presented. It has cleared the round 30 figure on very active trade. Continue to monitor the name through its 50 day SMA and then above a cup base pivot point.

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