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

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/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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