Coronavirus Concerns Continue to Fuel Downtrend on Quad Witching Expiration Friday...

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On quad-witching Friday, the SPX 2304.92, closed at its lowest level in the current bear market, but above Wednesday’s support low.  The DJI closed at 19,173, -913, -4.55%, closing below its Dec 2018 low for the sixth straight day.  VIX closed at 66.04.

One of eleven sectors was higher on Friday, led by XLE, XLY and XLF

SPY down 10.30 at 228.80 on 347.1 million shares, above average volume.  Down on higher volume.

VIX down 5.96 at 66.04

TRV, CVX, MRK led the DJIA, 3 advancers, -15

CCL, MGM, MOS, MPC led the SPX, 85 advancers

UAL, MAR, ILMN, DLTR led the NDX, 15 advancers

Two-year trend term closed below 2018 support.  3-day short term trend is down.

Up:

Down: IWM, QQQ, SPY, DIA,

Breadth weakened, on Friday as decliners led 1,702 to 1,314 on the NYSE and led 2,024 to 1,291 on the NASDAQ

The SPX MFC green line is turned down to 8 and is short-term bearish. 

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: Down

15 of 100 NDX stocks closed higher on Friday.

2 NDX stock is above their 30 DMA:  CTXS, GILD,

NDX Stocks to Watch on Monday:

Moving Above 30 DMA = 0

Moving Below 30 DMA = 1

REGN,

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