Fed Cuts Rates 0.5%, SPX -86, NDX -283...

© 2020

The SPX closed down 86 points after the Fed dropped rates 0.50% over potential economic slowing as a result of the Coronavirus.

All eleven sectors were lower on Tuesday, led by XLRE, XLB and XLU               

SPY down 8.85 at 300.24 on 299.4 million shares, above average volume.  Down on higher volume.

VIX up 3.40 at 36.82

KO, HD, UTX led the DJIA, 1 advancer, -29

NEM, FOSL, CME, LEN led the SPX, 45 advancers

NTES, EBAY, TSLA, ISRG led the NDX, 3 advancers

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

Up:

Down: IWM, SPY, DIA, QQQ,

Breadth weakened, on Tuesday as decliners led 1,944 to 1,028 on the NYSE and led 2,302 to 958 on the NASDAQ

The SPX MFC green line is below 20 and turned up at 18 and is short-term bullish. 

Uptrend sectors:  XLK, XLC, XLV,

Neutral sectors:  XLU, XLRE, XLP, XLY, XLI, XLF,

Down trend sectors: 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: Sideways

3 of 100 NDX stocks closed higher on Tuesday.

12 NDX stocks are above their 30 DMA:  NFLX, GILD, TMUS, BMRN, REGN, NVDA, BIIB, CSGP, INCY, JD, TSLA, EBAY,

NDX Stocks to Watch on Wednesday:

Moving Above 30 DMA = 1

EBAY,  

Moving Below 30 DMA = 0

Add Comments here