House Passes Stimulus Bill, SPX Drops 70 points in Final 30 Minutes...

© 2020

As our Live Mentoring clients know I have been very disappointed in the emotionally charged fear based myopic approach the media has used on the American public while covering COVOD-19.  Finally, a reality-based article worth reading on the challenge before us:   Click here:

Take time to read these articles and view the videos for a more constructive perspective on coronavirus…

Billionaire Leon Cooperman thinks market has hit bottom:   Click here:
John Rogers once in a lifetime opportunity:   Click here

Bill Ackman aggressive buyer of stocks:   Click here

Fed’s Bullard: Not a recession, an investment in survival:  Click here

Nobel laureate predicts a quicker coronavirus recovery:  Click here
Understand how outbreaks spread:Click here

Wed Ingraham Interview of Rigano 4 min video: Click here:

Thursday Varney Interview of Rigano 2 min video:  Click here:

About the 2 drugs that could treat COVID-19:   Click here:

The SPX -88.60, -3.37%, fell 70 points in the last 30 minutes on Friday, following a three-day rally.  This was the first up week for the SPX since Feb 14.  The House passed the coronavirus stimulus deal and Trump signed Friday also.

Two of eleven sectors were higher on Friday, led by XLU, XLRE and XLP

SPY down 7.78 at 253.42 on 224.3 million shares, above average volume.  Down on lower volume.

VIX up 4.54 at 65.54

PG, TRV, WMT led the DJIA, 2 advancers, -27

EXR, AVB, UDR, AIV led the SPX, 74 advancers

CHKP, CTXS, XEL, WLTW led the NDX, 7 advancers

Two-year trend term closed above 2018 support.  3-day short term trend is up.

Up:

Down: SPY, QQQ, IWM, DIA,

Breadth weakened on Friday as decliners led 2,356 to 655 on the NYSE and led 2,518 to 858 on the NASDAQ

The SPX MFC green line moved up to 22.5 and is a down-trend counter-trend bounce. 

Uptrend sectors: 

Neutral sectors: 

Down trend sectors: XLK, XLV, XLU, XLRE, XLC, XLP, XLY, XLI, XLB, XLF, XLE,

The 6-month intermediate trend is down.  The ten-day trend is down.

3-month Intermediate Term Market Trend: Down

3-day Short Term Market Trend: Up

7 of 100 NDX stocks closed higher on Friday.

4 NDX stocks are above their 30 DMA:  CTXS, GILD, ILMN, SGEN,

NDX Stocks to Watch on Monday:

Moving Above 30 DMA = 0

Moving Below 30 DMA = 12

AMD, AMZN, ASML, CDNS, CSCO, JD, KLAC, NFLX, NVDA, REGN, TTWO, XLNX,

Add Comments here: