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

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• 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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