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

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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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