© 2020

The SPX fell to 2,855.84 on Friday, where selling exhausted and buyers took control. The SPX rallied to close at 2,954.22, up 99 points from its low.  That’s high volatility. A major cause of the selloff is the economic uncertainty from the coronavirus outbreak in China that is now spreading to other countries and its ultimate impact on economic growth, revenues and earnings.

Two of eleven sectors were higher on Friday, led by XLK, XLC and XLE             

SPY down 1.25 at 296.26 on 350.9 million shares, above average volume.  Down on higher volume.

VIX up .95 at 40.11

XOM, MSFT, DOW led the DJIA, 7 advancerS, +6

SWN, XEC, NCLH led the SPX, 128 advancers

NVDA, ADSK, SGEN, XLNX led the NDX, 41 advancers

Long term up trend intact.  3-day short term trend is down.

Up: QQQ,

Down: SPY, DIA, IWM,

Breadth strengthened, but remained weak on Friday as decliners led 2,307 to 716 on the NYSE and led 2,179 to 1,158 on the NASDAQ

The SPX MFC green line is below 50, is pointed down at 7 and is short-term bearish. 

Uptrend sectors:  XLU, XLK, XLC,

Neutral sectors:  XLRE, XLY, XLV, XLI, XLF,

Down trend sectors: XLP, XLB, XLE,

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

3-month Intermediate Term Market Trend: Down a little

3-day Short Term Market Trend: Down

41 of 100 NDX stocks closed higher on Friday.

6 NDX stocks are above their 30 DMA:  NFLX, GILD, TMUS, BMRN, REGN, NVDA,

NDX Stocks to Watch on Monday:

Moving Above 30 DMA = 1

NVDA,

Moving Below 30 DMA = 1

BIIB,

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SPX -12% in Six Days, Led By Energy, Technology & Financials...

© 2020

The SPX hit 3,393.52 last Wednesday, February 19 and in the last six days has fallen over 400 points, -12.2% to close at 2,978.76.  A major cause of the selloff is the economic uncertainty from the coronavirus outbreak in China that is now spreading to other countries and it ultimate impact on economic growth, revenues and earnings.

All eleven sectors were lower on Thursday, led by XLV, XLI and XLC                   

SPY down 13.99 at 297.51 on 284.3 million shares, above average volume.  Down on higher volume.

VIX up 11.60 at 39.16

MMM, PFE, MRK led the DJIA, 1 advancer, -7

PWR, FOSL, APA led the SPX, 17 advancers

KLAC, MAR, TCOM, BKNG led the NDX, 1 advancer

Long term up trend intact.  3-day short term trend is down.

Up:

Down: IWM, SPY, DIA, QQQ, 

Breadth weakened on Thursday as decliners led 2,699 to 311 on the NYSE and led 2,813 to 472 on the NASDAQ

The SPX MFC green line is below 50, is pointed down at 17 and is short-term bearish. 

Uptrend sectors:  XLU, XLK, XLC,

Neutral sectors:  XLRE, XLY, XLV,

Down trend sectors: XLP, XLI, XLF, XLB, XLE,

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

3-month Intermediate Term Market Trend: Down a little

3-day Short Term Market Trend: Down

1 of 100 NDX stocks closed higher on Thursday.

6 NDX stocks are above their 30 DMA:  NFLX, GILD, TMUS, BIIB, BMRN, REGN,

NDX Stocks to Watch on Friday:

Moving Above 30 DMA = 0

Moving Below 30 DMA = 8

CSGP, EBAY, INCY, NTES, NVDA, ROST, TSLA, XEL,

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SPX -8.17% in Five Day Pullback...Stronger Open Fails for Second Straight Day as Coronavirus Uncertainty Persists...

© 2020

• TJX, +7.15% beat EPS & Sales, raises dividend, guides sales +2 – 3% for Q1
• CME, +5.69% upgraded to buy by UBS, raises price target to $233
• SQ, +6.80% after-hours, beat EPS, sales +41%
• MSFT, -1.93% after-hours warned current quarter sales would fall short due to supply-chain interruptions due to coronavirus outbreak in China

One of eleven sectors was higher on Wednesday, led by XLK, XLV and XLC     

SPY down 1.15 at 311.50 on 194.4 million shares, above average volume.  Down on lower volume.

VIX down .29 at 27.56

PFE, AAPL, MMM led the DJIA, 8 advancers, +8

TJX, CME, PSA led the SPX, 117 advancers

GILD, NFLX, REGN, JD led the NDX, 48 advancers

Long term up trend intact.  3-day short term trend is down.

Up: QQQ,

Down: DIA, SPY, IWM,  

Breadth strengthened but continued weak on Wednesday as decliners led 1,949 to 1,012 on the NYSE and led 2,075 to 1,156 on the NASDAQ

The SPX MFC green line is below 80, is pointed down at 34 and is short-term bearish. 

Uptrend sectors:  XLU, XLK, XLRE, XLP, XLC,

Neutral sectors:  XLY, XLV,

Down trend sectors: XLI, XLF, XLB, XLE,

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

3-month Intermediate Term Market Trend: Sideways

3-day Short Term Market Trend: Down

48 of 100 NDX stocks closed higher on Wednesday.

14 NDX stocks are above their 30 DMA:  TSLA, XEL, NFLX, CSGP, GILD, EBAY, NVDA, TMUS, BIIB, BMRN, REGN, INCY, NTES, ROST,

NDX Stocks to Watch on Thursday:

Moving Above 30 DMA = 3

INCY, NTES, ROST,

Moving Below 30 DMA = 0

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SPX Falls Again, CDC Briefing on Cornavirus, All Sectors Lower...

© 2020

All eleven sectors were lower on Tuesday, led by XLP, XLU and XLRE               

SPY down 9.77 at 312.65 on 218.9 million shares, above average volume.  Down on higher volume.

VIX up 2.82 at 27.85

MCD, JNJ, HD led the DJIA, 0 advancers, -0

HPQ, XRX, KEYS led the SPX, 10 advancers

REGN, NTES, INTU, BIIB led the NDX, 2 advancers

Long term up trend intact.  3-day short term trend is down.

Up:

Down: QQQ, SPY, DIA, IWM,  

Breadth continued weak on Tuesday as decliners led 2,712 to 285 on the NYSE and led 2,821 to 454 on the NASDAQ

The SPX MFC green line is below 80, is pointed down at 53 and is defensive.  Prepare to shift to short-term bearish.

Uptrend sectors:  XLRE, XLU, XLK, XLP, XLC, XLY,

Neutral sectors:  XLV,

Down trend sectors: XLI, XLF, XLB, XLE,

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

3-month Intermediate Term Market Trend: Sideways

3-day Short Term Market Trend: Down

2 of 100 NDX stocks closed higher on Tuesday.

11 NDX stocks are above their 30 DMA:  TSLA, XEL, NFLX, CSGP, GILD, EBAY, NVDA, TMUS, BIIB, BMRN, REGN,

NDX Stocks to Watch on Wednesday:

Moving Above 30 DMA = 0

Moving Below 30 DMA = 20

ADI, AMZN, ATVI, CHTR, COST, CSX, CTAS, CTSH, DLTR, EXC, EXPE, FAST, INCY, MDLZ, MNST, ROST, SGEN, ULTA, VRSK, VRTX,

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Futures Fall as Coronavirus Cases Continue to Grow...SPX Falls Led by Energy, Tech...

© 2020

/ES futures were down 85 points at the open as Coronavirsus cases outside of China increased significantly increasing concerns and uncertainty that the virus will lead to an economic slowdown.  The SPX -111.86 closed lower than it opened.

Breadth weakened significantly on Monday and the MFC GL signaled defensive as it closed below 80.

All eleven sectors were lower on Monday, led by XLU, XLRE and XLP.                

SPY down 11.06 at 322.42 on 161.0 million shares, above average volume.  Down on higher volume.

VIX up 7.95 at 25.03

VZ, TRV, MCD led the DJIA, 0 advancers, -9

NEM, CLX, MOS led the SPX, 13 advancers

REGN, GILD, XEL, VRSK led the NDX, 2 advancers

Long term up trend intact.  3-day short term trend is down.

Up:

Down: IWM, SPY, DIA, QQQ,

Breadth weakened on Monday as decliners led 2,699 to 295 on the NYSE and led 2,840 to 454 on the NASDAQ

The SPX MFC green line dropped below 80, is pointed down at 71 and is defensive. 

Uptrend sectors:  XLRE, XLP, XLU, XLY, XLK, XLC,

Neutral sectors:  XLI, XLV, XLF, XLB,

Down trend sectors: XLE,

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

3-month Intermediate Term Market Trend: Up

3-day Short Term Market Trend: Down

2 of 100 NDX stocks closed higher on Monday.

31 NDX stocks are above their 30 DMA:  MNST, VRSK, TSLA, ULTA, CSX, CTAS, XEL, EXC, NFLX, CSGP, VRTX, COST, AMZN, MDLZ, CHTR, CTSH, GILD, EBAY, FAST, NVDA, TMUS, BIIB, BMRN, REGN, ROST, SGEN, ATVI, ADI, EXPE, INCY, DLTR,

NDX Stocks to Watch on Tuesday:

Moving Above 30 DMA = 0

Moving Below 30 DMA = 27

ADBE, ADP, ADSK, AMAT, AMD, ANSS, ASML, CDNS, CERN, CHKP, CMCSA, GOOGL, INTC, INTU, ISRG, JD, LBTYA, LRCX, LULU, MELI, MSFT, NTES, PAYX, PEP, PYPL, SIRI, SPLK,

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Tech Leads Drop in SPX as Coronavirus Concerns Continue, Day 2 Bull Flag Forming...

© 2020

The SPX and other indexes fell for a second day on Friday, forming the beginning of a potential bull flag price pattern.

Tech stocks AMD, NVDA, KLAC, LRCX, MU, AMAT, NXPI, NTAP, MSFT, WDC, CTXS, QCOM fell on above average volume on Friday leading the NDX lower.

Three of eleven sectors were higher on Friday, led by XLRE, XLP and XLV.       

SPY down 3.47 at 333.48 on 113.7 million shares, above average volume.  Down on higher volume.

VIX up 1.52 at 17.08

UTX, JNJ, TRV led the DJIA, 9 advancers, -0

DE, MOS, PKG led the SPX, 131 advancers

BMRN, GILD, EBAY, REGN led the NDX, 14 advancers

Long term up trend intact.  3-day short term trend is down.

Up:

Down: DIA, IWM, SPY, QQQ,

Breadth weakened on Friday as decliners led 2,049 to 879 on the NYSE and led 2,205 to 991 on the NASDAQ

The SPX MFC green line is above 80 and is pointed down at 88 and is counter-trend defensive. 

Uptrend sectors:  XLRE, XLP, XLU, XLY, XLK, XLC, XLI, XLV,

Neutral sectors:  XLF, XLB,

Down trend sectors: XLE,

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

3-month Intermediate Term Market Trend: Up

3-day Short Term Market Trend: Down

14 of 100 NDX stocks closed higher on Friday.

58 NDX stocks are above their 30 DMA:  MSFT, ADBE, ADSK, LULU, MNST, VRSK, GOOGL, TSLA, ULTA, CSX, PYPL, CTAS, CDNS, INTU, XEL, EXC, NFLX, INTC, ANSS, CSGP, SPLK, VRTX, PAYX, COST, CHKP, PEP, AMZN, MDLZ, CHTR, ADP, CTSH, GILD, JD, LRCX, NTES, AMAT, AMD, ASML, CERN, EBAY, FAST, NVDA, TMUS, BIIB, BMRN, REGN, ROST, SGEN, ATVI, SIRI, ADI, ISRG, CMCSA, EXPE, MELI, INCY, DLTR, LBTYA,

NDX Stocks to Watch on Monday:

Moving Above 30 DMA = 0

Moving Below 30 DMA = 15

AAL, AAPL, ALGN, BKNG, CDW, FISV, MAR, MCHP, MU, MXIM, NXPI, SNPS, TXN, WDAY, WDC,

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Tech, Discretionary Lead SPX Lower as Coronavirus in News...

Friday, 1:55 pm ET...

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

SPY down 4.09 at 333.00 on 63.1 million shares, above average volume.  Down on higher volume.

VIX up 2.34 at 17.87

DJIA, 7 advancers, -2

SPX, 126 advancers

NDX, 10 advancers

Long term up trend intact.  3-day short term trend is down.

Up:

Down: DIA, IWM, SPY, QQQ,

Breadth weakened on Friday as decliners led 1,923 to 876 on the NYSE and led 2,051 to 909 on the NASDAQ

The SPX MFC green line is above 80 and is pointed down at 88 and is counter-trend defensive. 

Uptrend sectors:  XLRE, XLP, XLU, XLY, XLK, XLC, XLI, XLV,

Neutral sectors:  XLF, XLB,

Down trend sectors: XLE,

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

3-month Intermediate Term Market Trend: Up

3-day Short Term Market Trend: Down

NDX Stocks moving on Friday:

Moving Above 30 DMA = 0

Moving Below 30 DMA = 15

AAL, AAPL, ALGN, BKNG, CDW, FISV, MAR, MCHP, MU, MXIM, NXPI, SNPS, TXN, WDAY, WDC,

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