Tuesday, March 24, 2020

DJIA +11.37%, Largest % Gain Since 1933, Expecting Senate Coronavirus Stimulus Deal......


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Take time to read these articles and view the videos for a more constructive perspective on coronavirus…



Bill Ackman aggressive buyer of stocks:   Click here
Fed’s Bullard: Not a recession, an investment in survival:  Click here
Nobel laureate predicts a quicker coronavirus recovery:  Click here
Understand how outbreaks spread:Click here
Wed Ingraham Interview of Rigano 4 min video: Click here:
Thursday Varney Interview of Rigano 2 min video:  Click here:
About the 2 drugs that could treat COVID-19:   Click here:


The DJIA made it largest percentage move since March 15, 1933 when it gained +15.34%.

DJI = 20,704.91, +2,112, +11.37%
SPX = 2,4447.33, +209, +9.38%
NDX = 7,553.83, +546, +7.81%
SMH = 115.63, +10.82, +10.32%
VIX = 61.69.


All eleven sectors were higher on Tuesday, led by XLE, XLI and XLF

SPY up 20.20 at 243.15 on 235.4 million shares, average volume.  Up on lower volume.
VIX up .08 at 61.67

CVX, AXP, BA led the DJIA, 29 advancers, +25
NCLH, LB, AAL led the SPX, 489 advancers
AAL, UAL, ULTA, INTU led the NDX, 95 advancers

Two-year trend term closed above 2018 support.  3-day short term trend is sideways.


Up: DIA, IWM, SPY, QQQ,
Down:

Breadth strengthened, on Tuesday as advancers led 2,790 to 243 on the NYSE and led 2,873 to 464 on the NASDAQ

The SPX MFC green line moved up to 9.4 and is a down-trend counter-trend bounce

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 TrendSideways

95 of 100 NDX stocks closed higher on Tuesday.

4 NDX stock is above their 30 DMA:  CTXS, GILD, REGN, JD,


NDX Stocks to Watch on Wednesday:
Moving Above 30 DMA = 1
JD,

Moving Below 30 DMA = 0


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