DJIA Largest % Drop since October 87, after President's Address...

© 2020

The DJI closed at 21,200, -2,352, -9.99%, the largest daily percentage drop since the crash on Oct 19, 1987.  The overnight selloff in SP futures after the President’s address Wednesday evening indicates he was unable to specifically satisfy the market’s concerns about economic slowdown from the coronavirus pandemic.

All eleven sectors were lower on Thursday, led by XLV, XLRE and XLC

SPY down 26.25 at 248.11 on 392.2 million shares, above average volume.  Down on higher volume.

VIX up 21.57 at 75.47

UTX, JNJ, MRK led the DJIA, 0 advancers, -0

SWN, OXY, COG led the SPX, 2 advancers

IDXX, ADI, CHTR, EBAY led the NDX, 0 advancers

Long term up trend intact.  3-day short term trend is down.

Up:

Down: QQQ, SPY, DIA, IWM,

Breadth weakened, on Thursday as decliners led 2,988 to 77 on the NYSE and led 3,236 to 186 on the NASDAQ

The SPX MFC green line is pointed down at 10 and is short-term bearish. 

Uptrend sectors: 

Neutral sectors:  XLK, XLV,

Down trend sectors: 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

0 of 100 NDX stocks closed higher on Thursday.

1 NDX stocks are above their 30 DMA:  REGN,

NDX Stocks to Watch on Friday:

Moving Above 30 DMA = 0

Moving Below 30 DMA = 3

GILD, JD, TTWO,

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